How Much is My Home Really Worth in this $1.58T Egyptian Real Estate Market?

Egypt's Real Estate market is expected to reach a value of US$1.58tn by 2025. Statista https://www.statista.com/outlook/fmo/real-estate/egypt

Yet countries in #MENA and #Africa have the lowest transparency in Real Estate amongst 89 countries according to JLL JLL MENA 2024 Global Transparency Index. JLL has been producing the Global Real Estate Transparency Index for 20 years, biannually.

Missed opportunity in Trillions

This subtle problem means that real estate in the region attracts the least investments and has lost revenue annually in the region of trillions.

All African countries except for South Africa are ranked in the two lowest categories which are ‘Low’ or ‘Opaque’. This index is critical in evaluating how well a country is positioned for investment.

Some of the issues around Information in Africa and the Middle East include:

→ Lack of transparency → Fragmented data → Lack of desktop valuations → Lack of electronic, publicly accessible and reliable land registry → Lack of tech and gold-standard data → Gated data

Nearby, the #UAE and Dubai Land Department worked extra hard to improve transparency and trust and now 3rd in the Top global transparency improvers.

Subsequently Dubai’s real estate market just hits new heights/revenue/transactions in October 2024 according to Property Monitor #Saudi is 2nd on the global transparency improvers thanks to Real Estate General Authority | ?????? ?????? ?????? and certain to attract new investments and get exposure from globals VCs the likes of Fifth Wall MetaProp JLL Spark and have more proptech expanding there like Stake and local VCs Middle East Venture Partners (MEVP) Wa'ed Ventures Mubadala Capital BECO Capital

How much is your home worth in Egypt?

83% of personal wealth comes from property, yet, you probably have no idea how much your property is worth.

That's because no one in Egypt knows. In developed markets like the UK there are two methods to value residential real estate for someone who wants to buy a home to live in:

a) Sales comparable done by a professional agent like Foxtons Knight Frank Connells Group You ask a local real estate agent. They access any portal that have access to actual transactions and Land Registry Title Deeds. They search in a postcode and within few miles how much did homes sell for and price/sqft.

b) AVM or Automated Desktop Valuation. Which is an algorithm or computer that takes many data points including transactions from Land Registry and estimates the price within a few seconds. Notable companies in the UK are Hometrack (part of Houseful)

At Property Sorted we work 100s of hours every week alongside AI and cutting-edge tech to bring trust to real estate in the Middle East and Africa. Use AI for good. After 1000s of hours we eventually built Egypt's first AVM (Automated Valuation Model) from scratch to know the price of any home. Similar to Zillow's Zestimate and Zoopla's Hometrack (part of Houseful) to give you the market price while listing.

The old way - to know your home price

1. Call a friend or family that knows someone
2. Call that "someone"
3. That someone tells you to call another "someone" in your area
4. The second "someone" that works in your area gives you a price range
5. Sells your mobile number (GDPR who?) to 5 of his close friends
6. One of the 5 people that took your number keeps ringing your phone all day
7. You decide to search online using Google and Facebook, for weeks with no results
8. Finger in the air ??
9. Frustrated ??, back to work

The new way: AI-powered, in seconds, at a click of a button

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Head over to propertysorted.com and find how much is your home worth for FREE