Egypt Residential Real Estate Market Size (2024 - 2029)

Egypt Residential Real Estate Market Analysis

The Egypt Residential Real Estate Market size is estimated at USD 20.02 billion in 2024, and is expected to reach USD 33.67 billion by 2029, growing at a CAGR of 10.96% during the forecast period (2024-2029).

There is an increasing demand for residential units in key cities of Egypt, especially Cairo. Government initiatives and upcoming projects are also key drivers of the market.

Despite the difficult economic backdrop brought on by the global pandemic, all major Egyptian real estate sectors could grow or remain stable in 2021. Cairo's residential real estate market has seen the most growth in the last year, with rents in some areas increasing by up to 8% Y-o-Y.

In 2021, approximately 19,000 residential units were completed in Cairo, bringing the governorate's total residential stock to approximately 227,000. This is a 40% increase over the previous year, when only 2,500 residential units were delivered. Most of the residential supply completed in 2021 will be large mixed-use developments, with some developers opting for smaller-scale projects to manage cash flows. A government directive was issued in 2021 prohibiting developers from offering any units for sale until at least 30% of the project was completed.

The Administrative Capital for Urban Development's action is likely to have increased the project completion rate by encouraging developers to shorten the time to delivery. Looking ahead, an estimated 29,000 units were estimated to be completed in 2022, with a large proportion of them located east of Cairo. With the Greater Cairo population expected to double over the next two decades, developers will be in high demand for residential properties. The New Administrative Capital (NAC) is one area that has significantly increased its residential property offering in the last year.

Several landmark developments, including New Garden City and Capital Residence, have been completed or are nearing completion, expanding the options for residents looking to relocate to the new city. The New Administrative Capital, which houses Egypt's key ministries, government buildings, and foreign embassies, is set to become the country's main administrative and financial center in the coming years. With over 50,000 workers expected to relocate to the NAC soon, the city will see an influx of new residents, and developers should benefit from a concentrated demand for housing.

Egypt Residential Real Estate Industry Segmentation

Residential real estate is an area developed for people to live in. As defined by local zoning ordinances, residential real estate cannot be used for commercial or industrial purposes.

A comprehensive background analysis of the Egypt Residential Real Estate market, covering the current market trends, restraints, technological updates, and detailed information on various segments and the competitive landscape of the industry. The impact of COVID-19 has also been incorporated and considered during the study.

The market is segmented by type (apartments and condominiums and villas and landed houses). 

The report offers market size and forecasts for the Egyptian residential real estate market in value (USD) for all the above segments.