#inflation
For much of the twentieth century, Egypt’s “old rent” laws have capped rents at levels that now seem obsolete. In neighborhoods like Manial, families pay as little as EGP 8 (USD 0.16) a month for spacious apartments, other tenants pay as low as EGP 10-30 (USD 0.20-0.61) per month for apartments and properties in upscale locations such as Heliopolis and Zamalek. The prices were set by contracts dating back to the 1960s and later reinforced under Law No. 136 of…
