Real estate bubble threatens Egypt’s market: Expert ...Egypt

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Real estate bubble threatens Egypt’s market: Expert
Wael Enaba, a capital markets expert, has stated that there is currently a disagreement among experts and analysts regarding the real estate sector. Some analysts are predicting an upcoming real-estate bubble, while others dismiss this notion, asserting that prices will continue to rise. In an interview with Al Arabiya Business, he expressed his belief in an impending price bubble, adding that real estate prices in Egypt have increased excessively, exceeding the purchasing power of Egyptians. He further explained, ‘An apartment that cost 2 million Egyptian pounds two years ago now costs 10 million, which is a five-fold increase.’ He attributed this to the expectation that the US dollar would

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