Egypt real estate prices jump up to 45% in a year as tourism gains drive property market

With Egypt expected to witness tourist inflows of 15m by the end of this year, Cairo’s occupancy levels continued to experience healthy growth levels in Q3, rising to 68 per cent in August 2023, compared to 61 per cent during the same period last year, reveals JLL’s Cairo Real Estate Market Overview Report for Q3 2023. 

In the quarter, Revenue Per Available Room (RevPAR) saw a significant increase of nearly 8 per cent, reaching approximately $95 despite the average daily rate (ADR) in Cairo slightly decreasing by 3 per cent (year-on-year) to reach $144 for the year to August 2023.