Mohamed Ghobashy, Chairman of the Board of SCOPE Developments, and a member of the Board of Directors of the Egyptian Association of Real Estate Valuation Experts, confirmed that real estate is the best way to invest system, which has been proven by experience over the years, where the customer buys a unit at a fixed rate and pays for it over 8 years as opposed to investing in speculated gold, which raises its price from world levels, It also requires prompt repayment rather than instalments such as property It is noted that these elements have made investing in the most secure and stable property.
He added that the customer does not face risks when purchasing units due to underfunding or higher prices, as the developer bears any price increases. The developer can protect itself from price fluctuations by selling in stages according to implementation requirements and due obligations, while retaining 20% of the land area or unsold units, ensuring that any risks or high inflation rates are secured.
Over the past 20 years, property prices had doubled at least seven times every 10 years.
As for talking about a real estate bubble in the Egyptian market, there is no so-called real estate bubble. bubble occurs when there is an unreal demand that leads to price inflation and then collapse, This does not apply to Egypt, where the demand is real, the construction costs are real and the price of the sale is determined more on the basis of the cost than depending on the size of the demand, Because the supply is balanced and without extraordinary profits, distinguishing the Egyptian real estate market from experiences such as America and Dubai.
He noted that future price projections indicate continued increasing demand due to population growth and with a lack of land available and increased migration from old to new areas to improve the standard of living, Demand will continue to be higher than supply, as will Arab interest in new areas, This year has happened significantly, along with an increase in arrivals. rent “, raising rent prices and supporting the need to purchase housing units.
In addition, laws that allow Egyptian citizenship by purchasing property will increase demand, meaning that the market will continue to grow. The drug will continue to be a safe way to save Egyptians’ savings against inflation, both in the short and long term, being more easy and secure than gold or dollar.
He noted that investing in the property is a medium and long-term investment and if the customer wants to buy and resell within a short period, the resale is unfair, Thus, the client does not make the profit he targets, so the crisis is not in the assured profitability of the property over the years but the problem in individual directions for some investors in the property who want a quick profit does not fit the nature of the real estate market.
