The continued increase in real estate prices in the Egyptian market during 2024

What we have witnessed during the recent period since the beginning of the year 2024 is that the economic challenges are increasing in the Arab countries with the start of the wave of inflation that has occurred in various sectors, and as a result of the continuous increase, Egypt has witnessed an increase in real estate prices of up to 45% during the year 2024, as a result of the increase in the prices of building materials and accordingly, an increase in The price of iron reaches 3,600 pounds per ton, and the prices of cement range from 1,900 to 2,300 tons

The former head of the Cement Division in the Federation of Egyptian Industries, Medhat Estefanos, also explained that the volume of investments in the real estate sector in the Egyptian market exceeds 2 billion pounds, and pointed out that the price of cement reached a range between 1,900 and 2,300 as a result of the impact of the increase in the price of the dollar in the markets, as well as In turn, the value of the Egyptian pound declined and the impact of the global inflation wave.

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Egypt witnessed a noticeable increase in the prices of building materials during the year 2024, and the head of the Chamber of Engineering Industries of the Federation of Egyptian Industries explained the factors affecting this increase.

Reasons for the increase in building materials prices in Egypt

• High cost of electricity
• Increased transportation costs
• Low production volume in some factories
• Difficulty importing raw materials from abroad
• Lack of hard currency

Engineer Medhat Estefans explained that the price of iron constitutes up to 8% of the total cost of building materials, as Egypt’s production of iron reaches about 8.2 million tons, and 4.5 million tons of billets. These numbers strongly illustrate the importance and necessity of understanding the challenges facing it. Construction sectors in Egypt and understanding the importance and necessity of taking effective measures to address this challenge and the necessity of accelerating the decision to reside or invest at the earliest available opportunity to try to reduce the amount of risk that currently exists.

Aser Hamdi, a member of the Real Estate Development Chamber of the Federation of Industries, explained his expectations that real estate prices in Egypt will rise by up to 40% during the year 2024 as a result of the continuous increase in the prices of building materials. He pointed out that the prices of iron and cement represent up to 70% of the cost of building real estate in general and are affected. With the movement of the price of the local currency against the price of the dollar in the markets, explaining that the negative change in this range causes a negative change in real estate prices in the Egyptian market.

Businessman Yassin Mansour, Chairman of the Board of Directors of Palm Hills Company, also explained that the company was forced to increase its prices by between 70 and 80% during the year 2023, and it is expected that the price of real estate will increase during the coming period by up to 60%, as the company’s management was forced to stop selling for a specific period of time. And reselling it again due to the difficulty of determining the price of the property and trying to reduce the amount of risk that currently exists

Due to the continuous increase during the recent period, most investors and those searching for residential real estate are moving to quickly make a purchase decision at the earliest opportunity to reduce the amount of risk that currently exists, as we mentioned previously, in order to maximize the investment at the lowest price available at the current time, which guarantees you the longest repayment period available, as the investor guarantees stability. The price once contracted, regardless of the increase in inflation or real estate prices in the Egyptian market.

Abeer Essam, one of the businesswomen in Egypt, stated that the availability of investment opportunities is what forces developers to turn to new cities, exploit their distinctive geographical location, and work on their development, as is the case in the new city of Mansoura, with its distinguished location along the Mediterranean coast and in the middle of the cities of Alexandria and Gamasa, and considering it one of the most prominent investment areas. It will be upscale during the coming period due to the developments that the city will witness in terms of culture and the development of services and entertainment means, as well as residential, commercial, medical and hotel properties.

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Abeer Essam also explained that the Egyptian real estate market is strongly moving towards hotel investment, whether investment in hotel apartments or hotel units, and it is expected that hotel housing will be the future of real estate investment in Egypt.

This is because there is a large gap between what has been produced, what is offered, and what the Egyptian real estate market needs, especially in areas close to universities in new cities and industrial areas, and it is expected to witness great demand for at least one to three years.

Hotel units are available in New Mansoura City in the most powerful medical hotel commercial mall in a distinguished location in the second phase of the Bayut Compound behind New Mansoura University (Panorama Blue Mall). Hotel units are received fully finished and furnished with a distinctive view of the sea in different sizes to suit your request. Get an offer.

Panorama Blue Mall in New Mansoura City, from Master Development Company, is the strongest investment opportunity in New Mansoura due to its distinguished location in Bayut Compound on the 60 m road separating the second phase from the most important service strip in New Mansoura Mixed use on the sea with an area exceeding 17,000 m.

Do you have a request for any unit?! Get an offer

There are many investment opportunities available in New Mansoura City, the tourist capital of the Delta, starting with residential units sought by investors and those wishing to obtain upscale housing with exceptional services and a direct view of the sea and the Corniche of New Mansoura City. It is considered one of the finest new cities suitable for housing and investment.

The most important residential properties in New Mansoura City

Zahya Villas

Zahya New Mansoura Compound is the first piece of land on the sea in the first phase from the eastern entrance, or it consists of different villas (Standalone - Twin Villa - Town House), classic designs, and a central commercial area in the heart of the compound with many services such as (mall, medical center, hospital, Schools, social club, etc.).

✅ 5% down payment + 10% after 3 months

✅ Installment over 5 years in equal installments (5%)

✅ Installments can be made up to 10 years with a 5% down payment + 10% after 3 months

⬅️ Finishing: semi-finished / Fully Finished 

⬅️ Delivery: Ready for delivery

Boyot Compound

Boyot Compound in New Mansoura, the city’s latest project developed by Al Salam Development Company, is the first residential project in the second phase in a very distinctive location behind New Mansoura University and next to the services strip separating the first and second phases, with areas starting from 56 sqm to 225 sqm with a direct view of the sea.

✅ 10% down payment

✅ After 3 months, 10% completion payment

✅ Equal installments up to 6 years

⬅️ Finishing: Red Bricks

⬅️ Delivery: 2026

The Pearl 

The Pearl Compound is located in the third phase in the heart of New Mansoura City. It is a coastal residential and recreational compound by Al-Safwa Company. It is a full-service compound directly on the sea, characterized by a variety of real estate units, apartments, studios, and villas.

✅ 10% down payment and the remainder in quarterly installments over 6 years

✅ Or a 10% down payment of the unit value upon payment over 8 years

⬅️Finishing: Semi-finished

⬅️Delivery: The compound will be delivered with all its services after 3 years of contracting

The most important commercial malls in New Mansoura City

 Banorama Blue Mall

Panorama Blue Mall is a commercial, medical and hotel mall in the most distinguished areas of New Mansoura City, close to all the city’s vital services in the heart of the Bayut Compound, the most powerful MIXED USE mall on an area of 17,000 square meters.

A unique investment location near New Mansoura University and the city authority on the service strip that contains (International Schools Complex - Banks Complex - University Hospital)

✅ Down payment starting from 10%

✅ Facilities up to 5 years

⬅️ Delivery: Receipt 3 years after contracting

Lavida White Mall

La Vida White Mall in Boyot Compound has a distinguished location behind New Mansoura University. It serves Zahya Compound, Boyot Compound, and New Mansoura Corniche, consisting of shops and medical clinics of different sizes and distinctive locations.

✅ 10% down payment + quarterly installments for 7 years

✅ 5% down payment + quarterly installments for 5 years

⬅️Delivery: 2027

Therefore, New Mansoura City is considered the strongest new coastal city on the Mediterranean coast, prepared for housing and investment, as well as a year-round summer environment. It provides an advanced urban environment and sustainable economic growth, which makes it one of the most targeted cities by investors for real estate investment in New Mansoura City due to the availability of all types of real estate from Residential, medical, hotel and administrative.