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Shortfall of affordable housing in Egypt

Date : (News Section: Egypt)

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Shortfall of affordable housing in Egypt

A new survey of the Middle East and North Africa (MENA) region has revealed that Egypt has a chronic shortage of affordable housing.

The nation was named as having the greatest lack of supply of this kind of property by Jones Lang LaSalle, with the firm estimating that a further 1.5 million such homes are required to meet the needs of the country's population.

Craig Plumb, head of research MENA at the company, told Arabian Business that "this is the greatest opportunity that the development industry has at the moment".

He explained that more public private partnerships could help boost the supply of affordable properties in Egypt, stressing that more developers in the Gulf region are likely to get involved in such projects.

The Jones Lang LaSalle report cited several factors that are holding back development at the bottom end of the housing market, including the relatively low returns compared to the luxury real estate sector, as well as the scarcity of affordable land, limited access to finance for low-income households and the expense of installing infrastructure and public transport networks.
 


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Article by +Danny Bance on behalf of Propertyshowrooms.com

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