Real estate investments slowing down following interest rates hike

The real estate industry is slowing down after the latest interest rates hike, said Mamdouh Badr El Din, chairman of the Federation of Egyptian Chambers of Commerce’s real estate division. Real estate purchases have also been declining, as customers are now parking liquidity in banks, to benefit from the rate hike, rather than purchasing assets. Badr El Din predicts that demand will increase once interest rates drop, according to AMAY.