In recent global real estate news, sectors of the Cairo market have shown a positive increase performance-wise upon analysis during the first three months of 2015. This improvement in their market lead to a stronger confidence and investment inclination, helping increase political and economic stability for the country.
According to an article published in Property Wire, “A new analysis from international real estate firm JLL says that this confidence is most clearly illustrated by the recent announcement of the mega real estate project Cairo Capital which will serve as an extension for New Cairo and will draw the centre of gravity further to the East of the existing city,” (Improved Economy and Political Stability Boost Cairo Property Markets). Data confirmed that residential sale prices increased across Cairo over the first quarter of the year. In addition, the hotel real estate market has also shown an increase in performance with the amount of tourists and occupancy rates rising.
Improved sales figures within the residential market in Cairo are also showing an increase. According to Property Wire, “Apartment and villa sale prices increased during 2015 across all the areas monitored by JLL as many residential developments have few units left and have increased prices accordingly,” (Improved Economy and Political Stability Boost Cairo Property Markets).
Even better news is that this positive economic outlook is expected to continue to increase investment in the residential sector throughout the year. Cairo is undoubtedly a city to keep an eye on for the entirety of 2015. For more information about Africa’s real estate market, read this article published by Property Wire.
But what is the reasoning for this? Chief executive of AFIRE discussed with REIT.com why the U.S. is preferred to all other countries in the world. In Chappell’s article, Fetgatter says, “‘I think non U.S. investors have some faith that the U.S. is coming out of the recession. The recovery may be slow, but I think they feel like it’s a definite recovery and we’re not falling back down into another recession,’” (Chappell, Survey Shows Internationals Investors Favor U.S. Commercial Real Estate). In addition, Fetgatter noted noted that commercial real estate in the U.S. is one of the most stable, secure investments that people can rely on.