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Demand and real estate prices in Egypt have not yet recovered

Market overview
13.05.2011
Homesoverseas.ru editorial office
168
To the market Egyptian real estate needs more time to recover, potential buyers are waiting for further price reductions, Xinhua news agency reports.

The head of the Association of Developers, Hussein Gomaa, notes the reluctance of investors to invest in Egyptian real estate against the background of the still unstable political situation in the country.

Sales and prices fell by about 30-40% after the start of the unrest in Egypt, experts say. They expect a further decrease in buyer activity.

The new government is making efforts to support home sales.

According to local residents, at the initiative of the government, prices for building materials were reduced, which allowed real estate prices to decrease.

According to the message Xinhua News Agency.

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