The Cairo Real Estate Market Overview – Q2 2023
Residential sales prices soar as buyers continue to lean on real estate as a hedge against devaluation
- Faraz Ahmed
- Zenah Al Saraeji
The rental market within the residential sector continued to witness healthy levels of demand in Q2 2023, which resulted in rental rates increasing by 19% and 17% in 6th October and New Cairo, respectively, on an annual basis. Rents in New Cairo increased at a slightly slower pace as it offers a higher supply quantum than 6th October. Moreover, several reputable developers strived to complete projects on time to maintain strong customer relationships and improve investor confidence, over 6,000 units were handed over during the second quarter, increasing the total residential stock to around 255,000 units. Read our latest report for an overview of the office, residential, retail and hospitality sectors in Cairo.