Abdel Hamid Al-Wazir:Demand for real estate is increasing at a time of economic crises
Under the current world conditions of high prices for products and services, and high inflation rates that may sometimes exceed the bank interest rate announced by central banks, the real estate sector has been affected by all these fallout.
As a result, some property developers have stopped selling housing or administrative units until further notice in which conditions would become more stable and stable for prices, particularly in building materials, until housing and administrative units could be repriced based on the constant prices of building materials for a period of time, Contrary to what has been happening since the beginning of this year, the prices of construction materials are increasing and indications are that their prices will continue to rise during the current year.
From the above, some opinions tend to expect a recession in the real estate market due to high property price prices and rising inflation in the country, but on the other hand there are those who believe that the real estate market will see a turnout in the coming period that may exceed the expectations of optimists.
Dr. Abdel Hamid Al-Wazir, Chairman of the Support and Follow-up Committee of the New Cairo Developers Association and Head of Arabisk Real Estate Development Company, believes that in times of economic crisis the best opportunity for real estate investment is due to the fact that real estate is distinct from other goods, from a secure portfolio of the value of the money that is paid in it like gold.
He added that, although prices have increased, they will increase further in the coming period because of what we expect will be the real estate market, because under most circumstances investment is safe. Anyone who takes the initiative and invests in the real estate market at the present time, taking into account certain purchase controls, should be through companies with a history of business, financial solvency, good reputation for delivery, selection of sites, facade and high investment returns.
