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Apartment Prices in Alexandria, Egypt: An Overview

2024-05-03

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Apartment Prices in Alexandria, Egypt: An Overview
Apartment prices in Alexandria are influenced by a variety of unique factors that set it apart from other cities. These include:

  1. Geographic Location and Proximity to the Sea: Apartments directly facing the sea, such as those along the Corniche area, command much higher prices than those located in inland areas like Hanovil.
  2. Infrastructure and Availability of Services: Areas like Smouha and Roushdy are considered upscale neighborhoods where multiple services such as international schools and major hospitals are available, which boosts apartment prices.
  3. Developments and New Projects: Infrastructure renewal projects or new shopping centers in areas like Anfoushi can lead to increased property values nearby.
  4. General Economic and Political Climate: During times of economic and political stability, investments in real estate increase, leading to higher prices, whereas during crises, prices may drop.
  5. Market Demand and Supply: The increasing demand for properties in areas like Montaza, due to its tourist appeal, drives up apartment prices due to high demand.
  6. Quality and Modernity of Buildings: New properties with modern designs and high-quality finishes in areas like Gleem are priced higher compared to older properties or those with lower-quality finishes.

Average Apartment Prices in Alexandria

Apartment prices in Alexandria vary significantly based on the area and surrounding characteristics. Here’s a detailed look at the average prices in some of the city's most popular areas:

  • Roushdy: As one of Alexandria’s most prestigious and expensive areas, apartment prices range from EGP 15,000 to EGP 25,000 per square meter. The high prices are due to the area's strategic location, proximity to the sea, and upscale services.
  • Smouha: Considered a medium to high-priced area, prices per square meter range from EGP 12,000 to EGP 18,000. Smouha is known for its excellent infrastructure and wide range of services.
  • Montaza: Known for its stunning sea views, apartment prices range from EGP 8,000 to EGP 15,000 per square meter, largely depending on proximity to the sea and construction quality.
  • Agami and Hanovil: These areas offer more economical options compared to the previously mentioned areas, with prices starting around EGP 3,500 per square meter, reaching up to EGP 7,000 in places closer to the beaches.
  • Gleem and Ibrahimia: These upscale neighborhoods near the waterfront range from EGP 10,000 to EGP 20,000 per square meter, boasting a high level of services and facilities.

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These prices reflect the significant variation between different areas within Alexandria, illustrating the diverse housing options available according to buyers' budgets and personal requirements.

Average Apartment Prices in Alexandria

Future Outlook for Alexandria’s Apartment Prices

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Apartment prices in Alexandria are expected to see a noticeable increase in the coming years based on several supporting factors. Ongoing investments in infrastructure and planned urban developments will play a major role in this rise. Prices are anticipated to increase annually by 5% to 10%, depending on location and property type.

Invest in Alexandria’s Best Apartments at Competitive Prices with Imtilak Global

If you are looking for an opportunity to own an apartment in Alexandria at competitive prices, Imtilak Global offers the perfect solution. Our team of experts specialized in the Egyptian real estate market possesses the experience and skills to help you find the best apartments at the most affordable prices.

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