Sales and enquiries up in Egypt

Following the political and civil unrest in Egypt, enquiries and sales in the country have returned to normal levels, according to the managing director of Colordarcy.

According to the consultancy, a number of developers in the region have not had to drop their prices as a result of the problems.

Speaking to Overseas Property Professional, Loxley McKenzie said that the market initially saw a fall in interest from investors, with many concerned about the effect that the riots would have on prices. However, once everything had settled down, he noted that the "true resilience of investors became apparent".

The expert added that as the number of international enquiries and sales rises, there has also been a shift towards investor type enquiries with them outnumbering lifestyle buyer enquiries. 

Source: Property Showrooms

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