Housing Finance in Egypt


This profile is also available in French here.

To download a PDF version of the full 2023 Egypt country profile, click here.

Egypt is the most populous Arab country, with 103.808 million people. The population is expected to reach 132 million by 2032 and 190 million by 2050. Population growth and the need for housing will increase the housing deficit. President Abdel Fattah el-Sisi says the country’s high population growth rate hinders development.

Egypt’s 2016 National Program for Economic Structural Reforms improved economic indicators. The IMF predicts Egypt’s GDP will grow 5.9% in 2022. Egypt’s 2020-2021 GDP grew 3.3%. In March 2022, the Egyptian pound fell 14% against the US dollar, to E£18.54. In March and May 2022, the CBE raised interest rates by 1%. Overnight deposit, lending, and main operation rates reached 11.25, 12.25, and 11.75 percent.

The Mortgage Finance Fund executed 5,540 mortgage finance contracts worth £7.3 billion in 2022. Mortgage refinancing fell 23.6% to £745.5 million during the same period. 1,026 microfinance firms, with 2,418 branches, grew by 53.7%. The programme allocated E£50 billion ($2.7 billion) for mortgage financing for individuals and families with a maximum monthly income of E£40,000 and 8% interest. The CBE expanded the initiative’s guidelines in October 2021. The project’s funding includes the maintenance deposit.

Low-income housing unit prices range from £400,000 to £450,000. Fully finished homes can cost up to £1.7 million (US$90,416.)Middle-income borrowers can borrow 85% of the property’s value, and low-income borrowers can borrow 90%.

Egypt is geographically susceptible to climate change. Climate change will increase migration and unemployment. The National Climate Change Strategy 2050 was launched to combat this. It aims to improve life, housing, economic growth, and Egypt’s natural resources.

New consumer protections have been established. Despite many state interventions, neither side of the market benefited due to bank constraints. Because of Egypt’s prominence in the Arab region, the CEO of Saudi Egyptian Developers is optimistic about the Egyptian real estate market.

Find out more information on the housing finance sector of Egypt, including key stakeholders, important policies and housing affordability:

Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2023 edition, which has up-to-date profiles for 55 African countries.

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