The Egyptian real estate market is experiencing an increase in demand, despite economic conditions, high inflation (more than 40%) and a significant drop in the local currency.
Hazem Badran, CEO of Palm Hills Development Company, believes that market activity is associated with population growth in the country, as well as with the fact that Egyptians use real estate as a tool to protect against inflation.
Badran said that house prices in Palm Hills could grow by 13-14% over the course of the year. It is worth noting that Palm Hills reported an increase in consolidated net profit for the first half of 2023 by 8.87% year-on-year.
Source: ZAVYA
