Egypt is expected to be the fastest-growing market globally in real estate in 2017, according to March report issued by Euromonitor International.
Citing the research agency, Reuter’s Zawya said that the top three emerging markets in Real Estate and mortgaged households have been identified by Euromonitor International, with Egypt topping the list, followed by Algeria and Nigeria.
The report added that these countries are topping the list due to the large populations in Africa and the Middle East who are seeking infrastructure and residential units.
About 300,000 households in Egypt are expected to be owned through a mortgage in 2017.
Euromonitor International released another report in February, saying that population of the Egyptian City of Cairo is expected to grow by 0.5 million in 2017, ranking first among the fastest-growing population around the world.
Deemed as the fastest growing population, housing problems in Egypt is expected to exacerbate. The report forecasts that the growth will occur in the real estate market in general, but in the residential sector in particular.