90% increase in number of Egypt’s vacation homes over past 11 years -Colliers International

The number of vacation homes in Egypt has increased 90% in the past 11 years, with the North Coast remaining the most popular destination for Egyptians to purchase a second home, according to Colliers International’s report on Egypt’s second home market. The depreciation of the local currency has driven up real estate sales as a whole as people increasingly turned to purchasing second homes as a hedging instrument, thereby pushing up the average cost of these units. Nonetheless, holiday homes in Egypt remain affordable, relative to international markets, the report says.