Market trends show Egypt’s property boom looks set to continue on the back of demand from abroad: Egypt’s property boom appears to show no signs of slowing down, particularly since the EGP float, according to OLX Egypt’s most recent report (pdf). The appeal appears to be significant among foreign investors and expats, with traffic of online searches for property in Egypt from the GCC reaching 51%. The report, which ran a comparative analysis between Cairo and Dubai, suggests that the decreased purchasing power of the EGP is driving this influx. The cost of living index in Dubai is approximately 186.15% higher than in Cairo, with the value of apartments for sale being seven times greater and where rent prices are almost six times more expensive. Overall, Egyptians spent a total of 65 mn minutes perusing for real estate on OLX Property in 2016, with top locations searched being Nasr city, Maadi, Sheikh Zayed City, Heliopolis and the Fifth Settlement. “These results demonstrate the Egyptian property trend moving towards urbanization, as property seekers are on the look-out for areas such as Fifth Settlement and Sheikh Zayed where the long-term investment is worthwhile as prices are always on the rise,” said the report.

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