Residential Real Estate Market in Egypt Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The report covers Egypt Residential Real Estate Market Statistics and is Segmented by Type (Apartments and Condominiums and Villas and Landed Houses). The report offers the market sizes and forecasts in value (USD billion) for all the above segments.

Egypt Residential Real Estate Market Size

Egypt Residential Real Estate Market  Summary
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Study Period 2019-2028
Base Year For Estimation 2022
Market Size (2023) USD 18.04 Billion
Market Size (2028) USD 30.34 Billion
CAGR (2023 - 2028) 10.96 %
Market Concentration Low

Major Players


*Disclaimer: Major Players sorted in no particular order


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Egypt Residential Real Estate Market Analysis

The Egypt Residential Real Estate Market size is expected to grow from USD 18.04 billion in 2023 to USD 30.34 billion by 2028, at a CAGR of 10.96% during the forecast period (2023-2028).

There is an increasing demand for residential units in key cities of Egypt, especially Cairo. Government initiatives and upcoming projects are also key drivers of the market.

  • Despite the difficult economic backdrop brought on by the global pandemic, all major Egyptian real estate sectors could grow or remain stable in 2021. Cairo's residential real estate market has seen the most growth in the last year, with rents in some areas increasing by up to 8% Y-o-Y.
  • In 2021, approximately 19,000 residential units were completed in Cairo, bringing the governorate's total residential stock to approximately 227,000. This is a 40% increase over the previous year, when only 2,500 residential units were delivered. Most of the residential supply completed in 2021 will be large mixed-use developments, with some developers opting for smaller-scale projects to manage cash flows. A government directive was issued in 2021 prohibiting developers from offering any units for sale until at least 30% of the project was completed.
  • The Administrative Capital for Urban Development's action is also likely to have increased the project completion rate by encouraging developers to shorten the time to delivery. Looking ahead, an estimated 29,000 units were estimated to be completed in 2022, with a large proportion of them located east of Cairo. With the Greater Cairo population expected to double over the next two decades, developers will be in high demand for residential properties. The New Administrative Capital (NAC) is one area that has significantly increased its residential property offering in the last year.
  • Several landmark developments, including New Garden City and Capital Residence, have been completed or are nearing completion, expanding the options for residents looking to relocate to the new city. The New Administrative Capital, which houses Egypt's key ministries, government buildings, and foreign embassies, is set to become the country's main administrative and financial center in the coming years. With over 50,000 workers expected to relocate to the NAC soon, the city will see an influx of new residents, and developers should benefit from a concentrated demand for housing.

Egypt Residential Real Estate Market Trends

This section covers the major market trends shaping the Egypt Residential Real Estate Market according to our research experts:

Increasing Private Investment in Real Estate Sector Driving the Market

The Egyptian real estate sector is one of the country's hottest investment areas. Property growth rates surpassed 15% in 2021, according to the Ministry of Planning and International Cooperation. The sector has benefited from the uncertainty and instability of regional and global economic challenges. Property investments in Egypt increased by 20% in Q2 2021, depending on location, while land prices increased by 30%. However, these broad trends need to provide a complete picture of demand. They only provide a partial picture because they only represent the formal market, which serves a small portion of society.

On the other hand, there is evidence of a trend in this market segment toward flipping properties. This suggests that the standard metrics for assessing demand based on income and savings may need to be revised in specific market areas. Finally, despite the increased tendency toward speculation at the higher end of the market, Egypt has a sizable core of domestic end-users, ensuring a strong demand that ultimately benefits developers in the long run. These trends indicate increased opportunities for home purchases in Egypt.

While demand appears to be present, unit prices are beginning to exacerbate the affordability issue. Housing will continue to be in high demand as the country's population grows by 2.5 million per year and one million marriages occur. The development of several megaprojects, including expanding special economic zones, stimulates economic growth. Other measures to encourage economic growth include the Suez Canal, New Alamein City, and the New Administrative Capital. For example, the current authorization to use the land for public-private partnerships, combined with fundamentally solid local demand, will boost the housing market.

Egypt Residential Real Estate Market trend - investment growth

Growth in the Luxury Housing Market

Real estate in Egypt is popular among locals and foreigners, particularly in Red Sea resort areas. Demand from Russians, for example, increased by 49% in Q1 2022 compared to the same period last year. People are increasingly looking to buy real estate in Egypt rather than simply renting a vacation home. Prices on the Red Sea coast rose dramatically in 2021. For example, the cost per square meter in the Intercontinental area was EGP 7.5 thousand (approximately USD 400) in 2021. Since the beginning of the year 2021, the prices of projects under construction have risen several times: the cost of some of them only changed four times in May. Price increases also contributed to the Egyptian pound's decline against the United States Dollar. In general, sales are active across the board. The resort of Makadi is experiencing significant dynamics.

Prices are rising in the primary and secondary markets in Hurghada. The increase in the primary market is partly due to rising building material prices. The most liquid objects in any market are studios and one-bedroom apartments, but two-bedroom apartments are also in high demand. The buyers are primarily from nearby countries, including Europe, the United Kingdom, Russia, Ukraine, and the Middle East. Many Egyptians from all over the country are also interested in purchasing a "summer house on the Red Sea."

Egypt's real estate market attracts buyers, but prices remain relatively low compared to other countries. Plus, there's a season all year, low living costs, and the Red Sea. The state is now investing heavily in the infrastructure of all regions of Egypt, constructing entire cities rather than just complexes. A new mini-city with lagoons, all infrastructure, international exhibition centers, and even an opera has been announced for the Sahl Hasheesh region. El Gouna also sees the construction of the luxury resort Soma Bay and numerous new projects.

Egypt Residential Real Estate Market trend - increasing prices

Egypt Residential Real Estate Industry Overview

The Egyptian residential real estate market is fragmented and highly competitive, with the presence of local, regional and international players. Orascom Development Egypt, Connect Homes, Emaar Misr, Avenues Real Estate, Coldwell Banker Egypt, and others are some of the major players in the market. Large firms have financial resources to their advantage, whereas small businesses can compete effectively by building expertise in local markets. Huge investments in sustainable residential infrastructure attract players to Egypt's market.

Egypt Residential Real Estate Market Leaders

  1. Orascom Development Egypt

  2. Ora Developers

  3. Emaar Misr

  4. Avenues Real Estate

  5. Coldwell Banker Egypt

*Disclaimer: Major Players sorted in no particular order

Egypt Residential Real Estate Market Concentration

Egypt Residential Real Estate Market News

  • November 2022: Wadi Degla Developments, an Egyptian developer, launched the Club Town new residential project in New Degla, Maadi, South Cairo, for EGP 1.5 billion (USD 61 million). The three-phase project spans 70 acres and includes 550 residential units and a commercial area. Breeze, part of Club Town's Phase I, is expected to be delivered between 2024 and 2026, according to the statement. Between 2022 and 2023, the developer intends to complete more than 1,500 units.
  • October 2022: SODIC, the parent company of Orascom Development Egypt, offered to buy Orascom Real Estate for USD 125 million. In 2021, Abu Dhabi's Aldar Properties and state holding company ADQ purchased a controlling stake in SODIC. The purchase of Orascom Real Estate would further expand their Egyptian real estate business. The offer comes as Egypt seeks billions of dollars in Gulf investment as it grapples with the financial consequences of the Ukraine conflict, such as rising commodity prices.

Egypt Residential Real Estate Market Report - Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Insights into Supply Chain/Value Chain Analysis

    5. 4.5 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Residential Real Estate Buying Trends - Socioeconomic and Demographic Insights

    7. 4.7 Government Initiatives and Regulatory Aspects Pertaining to the Residential Real Estate Sector

    8. 4.8 Insights into Size of Real Estate Lending and Loan to Value Trends

    9. 4.9 Insights into Interest Rate Regime for General Economy and Real Estate Lending

    10. 4.10 Insights into Rental Yields in the Residential Real Estate Segment

    11. 4.11 Insights into Capital Market Penetration and REIT Presence in Residential Real Estate

    12. 4.12 Insights into Affordable Housing Support Provided by the Government and Public-Private Partnerships

    13. 4.13 Insights into Real Estate Tech and Startups Active in the Real Estate Segment (Broking, Social Media, Facility Management, and Property Management)

    14. 4.14 Impact of COVID-19 on the Market


    1. 5.1 By Type

      1. 5.1.1 Apartments and Condominiums

      2. 5.1.2 Villas and Landed Houses


    1. 6.1 Overview (Market Concentration and Major Players)

    2. 6.2 Company Profiles

      1. 6.2.1 Orascom Development Egypt

      2. 6.2.2 Ora Developers

      3. 6.2.3 Emaar Misr

      4. 6.2.4 Avenues Real Estate

      5. 6.2.5 Coldwell Banker Egypt

      6. 6.2.6 NEW GIZA

      7. 6.2.7 Hassan Allam Properties

      8. 6.2.8 Iwan Developments

      9. 6.2.9 Wadi Degla Developments

      10. 6.2.10 La Vista*

    3. *List Not Exhaustive

  8. 8. APPENDIX

    1. 8.1 Marcroeconomic Indicators (GDP breakdown by the Sector, Contribution of Construction to Economy, etc.)

    2. 8.2 Key Production, Consumption, Exports, and Import Statistics of Construction Materials

Egypt Residential Real Estate Industry Segmentation

Residential real estate is an area developed for people to live in. As defined by local zoning ordinances, residential real estate cannot be used for commercial or industrial purposes.

The market is segmented by type (apartments and condominiums and villas and landed houses). The report offers the market sizes and forecasts in value (USD billion) for all the above segments and the COVID-19 impact is included in the report.

By Type
Apartments and Condominiums
Villas and Landed Houses

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Egypt Residential Real Estate Market Research FAQs

The Egypt Residential Real Estate Market size is expected to reach USD 18.04 billion in 2023 and grow at a CAGR of 10.96% to reach USD 30.34 billion by 2028.

In 2023, the Egypt Residential Real Estate Market size is expected to reach USD 18.04 billion.

Orascom Development Egypt, Ora Developers, Emaar Misr, Avenues Real Estate and Coldwell Banker Egypt are the major companies operating in the Egypt Residential Real Estate Market.

Residential Real Estate in Egypt Industry Report

Statistics for the 2023 Residential Real Estate in Egypt market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Residential Real Estate in Egypt analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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