Egyptian Property Prices Four Times More Than USA
A new report by EconoMonitor shows that real estate prices in Egypt are extremely disproportionate to the average income.
When you think of it, we Egyptians are always suffering from the rise of prices, like we're at the edge of inflation. Apartments, villas and houses' prices rose by nearly 15 and 25% during 2014 alone, and well, time will show us what is yet to come.
Twice as expensive in Gulf countries, where ironically the income is much higher than in our country, Egypt's property prices have gone from high, to even higher reaching four times that of Western Europe and the US, as detailed by a report issued by EconoMonitor. The United States-based financial analysis firm also states expectations of increasing commercial and residential prices, as if the people weren't already struggling.
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