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Apartment prices in Giza, Egypt

2024-05-03

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Apartment prices in Giza, Egypt
Giza, a major city in Egypt, is experiencing continuous urban and economic growth, making it a focal point for many interested in real estate investment. This article delves into understanding apartment prices in Giza, exploring influential factors, average prices, future price expectations, and the best areas for property purchase.

Factors Influencing Apartment Prices in Giza

In Giza, several specific factors influence apartment prices, contributing to the uniqueness of the region. Here’s a detailed look at these factors with specific examples:

  1. Proximity to Tourist Attractions: Giza is home to the Pyramids, one of the most significant tourist attractions globally. Apartments near the Pyramids area, like those on El Haram Street, often command higher prices due to heavy tourist and commercial demand.
  2. Urban Developments and New Projects: Areas like Sixth of October and Sheikh Zayed are witnessing significant urban developments, such as new residential complexes and modern commercial centers. These projects noticeably increase property values.
  3. Quality of Infrastructure: Areas with advanced infrastructure, such as good road networks and public transport services, attract more residents and investors. For example, neighborhoods near metro stations or major highways like the Cairo-Alexandria Desert Road usually experience higher prices.
  4. Security and Services: Areas known for high-security levels and availability of services like schools, hospitals, and shops are key factors that increase property values. For instance, neighborhoods like Mohandeseen and Dokki offer these advantages.
  5. Economic and Political Stability: Fluctuations in the country's economic and political situation can directly affect the real estate market. Stability attracts investment and increases demand for properties, while crises may lead to a decrease in prices.

Average Apartment Prices in Giza

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Apartment prices in Giza vary significantly from one area to another, depending on factors such as location, available services, and proximity to vital centers. Here’s a detailed look at the average prices in some key areas within Giza:

El Haram and Faisal

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These areas are known for their high population density and proximity to tourist attractions like the Pyramids. Prices here can range from:

  • Economy apartments: From 5,000 to 7,000 EGP per square meter.
  • Mid-range apartments: From 8,000 to 12,000 EGP per square meter.
  • Luxury apartments: Can reach 15,000 EGP per square meter or more, especially near the Pyramids.
Sixth of October and Sheikh Zayed

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These are among the most developed and upscale areas in Giza, featuring public and private services and green spaces.

  • Economy apartments: Starting from 6,000 EGP per square meter.
  • Mid-range apartments: Prices range from 10,000 to 20,000 EGP per square meter.
  • Luxury apartments: Can go up to 25,000 EGP per square meter or more, especially in new and luxury residential complexes.
Mohandeseen and Dokki

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These neighborhoods are among the upscale areas in Giza and are close to business centers and services.

  • Economy apartments: Rare in these areas due to the upscale nature, but prices start from around 10,000 EGP per square meter.
  • Mid-range apartments: Prices range from 12,000 to 18,000 EGP per square meter.
  • Luxury apartments: Prices can reach 30,000 EGP per square meter or more, especially in new properties or those offering special views.
Apartment prices in Giza, Egypt

Future Price Expectations for Apartments in Giza

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The future outlook for the real estate market in Giza indicates continued growth, based on ongoing urban development and both local and foreign investments in infrastructure. Here’s an analysis of the expected future changes and how they reflect on real estate investment:

Price Growth Expectations:

  • New development areas (like Sixth of October and Sheikh Zayed): Expected to see a price increase of 5% to 10% annually over the next five years due to planned major projects and infrastructure improvements.
  • Areas near tourist attractions (like the Pyramid area): Prices may rise by 3% to 7% annually, as demand for properties increases due to tourism which stimulates both commercial and residential investments.
  • Upscale neighborhoods (like Mohandeseen and Dokki): Anticipated to see an increase of up to 5% annually due to the continuous demand for luxury properties and prime locations.

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Implications for Real Estate Investment

Investing in Giza's real estate is seen as an attractive long-term venture, especially in areas experiencing clear urban developments. The expected increase in prices is a testament to the strength and stability of the real estate market in the region.

  • Rentals: With rising property prices, rental values are also expected to increase, providing a good return for investors who prefer renting out their properties. This increase in rentals can enhance the return on investment in real estate.
  • Increasing Demand: The anticipated stability and economic growth in Giza mean an increased demand for housing and commercial properties. This dynamic makes Giza an active market for investors looking to expand their real estate portfolios.

Imtilak Global ensures the best property prices in Giza

Thanks to its strong partnerships and expert team, Imtilak Global offers its clients the best real estate opportunities in Giza at competitive prices. The company leverages its extensive network and deep market knowledge to ensure that clients acquire exceptional properties at minimal costs, making it the ideal choice for those seeking a reliable and profitable real estate investment in the heart of Giza.

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