Cairo Property Sales Slow: 45-Day Delays, 12% Price Cuts

The Cairo property market is shifting. Apartments listed for sale in June spent a median 127 days on the market, up from 82 days in June 2025, according to internal sales data from three large real estate agencies operating in the capital. The jump signals a clear buyer's market emerging in key neighbourhoods.

Why this matters now: After two years of double-digit price growth fuelled by the EGP devaluation and inflation, the market is cooling. Sellers who bought in 2022 or earlier are still sitting on paper gains, but those who bought later-or who need to sell quickly-are being forced to discount. The days of listing a flat at the Fifth Settlement and closing within three weeks are over.

Discounting spreads from New Cairo to Maadi

In New Cairo's Katameya Heights compound, a three-bedroom apartment listed at EGP 9.2 million in February finally closed last week at EGP 7.8 million-a 15% discount. Over in Maadi, along Road 9, an expat-owned duplex that hit the market in April at EGP 11.5 million accepted an offer of EGP 9.9 million in late June. Agents say the pattern is consistent: vendors are shaving 10% to 18% off initial asking prices across the secondary market.

The trend is most pronounced in areas that saw the fastest price inflation during 2023-2024. Sheikh Zayed City and parts of the New Administrative Capital-where speculators bought off-plan in bulk-now have the highest share of price-reduced listings. At the NADIC project in the New Administrative Capital, 34% of resale units carried a price reduction in May, up from 11% a year earlier, according to property listings portal Aqarmap.

Buyers gain leverage as developers hold firm

Developers of new projects-including Palm Hills Developments and SODIC-have not yet cut list prices for off-plan units. But they are offering longer instalment plans and waiving early-bird discounts that were once standard. At Palm Hills New Cairo's Golf Extension, the company in June introduced a seven-year payment plan with no down payment for the first six months, a concession unseen since 2020.

Real estate analyst Yasser El-Shennawy, who tracks transaction data at the Egyptian Real Estate Association, said the shift is structural. “Inventory is rising faster than demand. Sellers who waited in 2025 are now competing with new units coming from the government and major developers. The days on market will keep climbing until more vendors accept that prices peaked in late 2025.”

For buyers, the window is open but narrowing. Mortgage rates from banks including the National Bank of Egypt and Banque Misr remain near 24% for local-currency home loans, limiting affordability. Cash buyers, particularly Egyptians working abroad and Gulf investors, are driving most deals. A one-bedroom in Zamalek's Marashly Street that spent 98 days on market in May is still unsold at EGP 4.2 million-agents say it will likely sell at EGP 3.6 million by August.

Vendors who need to sell within 90 days should price at least 10% below the most recent comparable sale in their building, say three relocation agents in Maadi and New Cairo. Those who can wait until 2027 may see a price recovery as the government's plan to build 500,000 new housing units under the Social Housing Programme comes onstream, reducing pressure on the secondary market. For now, patience pays-but only for the buyer.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.