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Property Prices in the US Forecast to Rise 4pc Annually for the Next Five Years May 2012 Property prices in the US have been forecast to rise 4% a year for the next five years, although the average home in America has lost one third of its value since 2006....
More Signs Show US Property Market to be in Recovery May 2012 In March, pending home sales in the US increased, providing further proof that the property market is finally on the road to recovery....
Bank of America is Approving More Short Sales April 2012 The Bank of America Corp., is approving more and more short sales as an alternative to foreclosure...
Germany Set to Enjoy a Good Year for Residential Sales April 2012 According to Savills, Germany is set to enjoy a very good year of residential sales, especially as more residential units are being sold in large packages of around 10,000 units for the first time sin...
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Egypt Plans to Sign IMF Loan Agreement in the Summer April 2012 Egypt is planning to sign an agreement with the International Monetary fund for a $3.2 billion loan by early summer, according to the Minister of Planning and International Corporation, Fayza Aboulnag...
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Posted On: 29/01/2012
The elections in Egypt saw the Muslim Brotherhood’s party win 47.18% of votes, with another 25% of votes being won by the conservative Nour party. These newly elected MPs have just been sworn in, and January 23 marked the first sitting of a democratically elected parliament for 60 years.
Since last year's revolution which began on January 25, the country has been ruled by the Supreme Council of the Armed Forces, but it is due to hand over power after the presidential elections are held in June. Egypt is looking forward to a bright new future, and there are high hopes its property market will recover this year.
Next month sees Cityscape Egypt being held from February 20 to the 23rd, and the event is expected to be attended by international and local estate agents, investors, developers and end users.
The event is being attended by a number of major developers including Palm Hills, Ocean Blue, Citystars, DAMAC, Osracom Hotels and Talaat Mostafa Group. Coldwell Banker is attending, as are a number of corporate financial institutions including JP Morgan and the World Bank.
Cityscape Egypt will examine the latest trends in the property market, as well as methods of bridging the demand for affordable housing projects. There is a growing demand for housing from middle-class households, and this sector should help restore confidence in the property market.
The government has made concerted efforts to help the property sector by seeking successful resolution over land allocation disputes, but experts still think the sector faces challenges and requires transparency and stability to help bring back investors.
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