Rental rates are bottoming out in the residential real estate market of Cairo, according to Jones Lang LaSalle’s latest real estate report. The rental market seems to be reaching its lowest point and sooner or later, rental growth will start accelerating. In fact our figures already showed some growth, with a rise in rent demanded of around 10% from last year. The average rent per sq. m. ranges from USD 7 to USD 9 per month, whereas last year, it was around USD 6 to USD 8 per sq. m. per month.
The average buying price per square metre (sq. m.) of apartments in Cairo’s upscale neighborhoods remained more or less unchanged during the year to August 2012. Apartments in Maadi, Zamalek, among others, cost around USD 1,000 per sq. m.