Egyptian property market to be 'subdued' in 2011

Recent political upheaval in Egypt means that the country's property market is unlikely to attract a great deal of foreign investment in 2011.

But the long-term outlook for the market is more positive, the latest report from consultancy Jones Lang Lasalle (JLL) has claimed.

JLL explained that short-term activity in Cairo will remain subdued, with much uncertainty remaining in the market post-revolution. However, analysts are more upbeat about the medium to long-term forecast.

"2011 could therefore represent something of a lost year with decisions to lease or purchase real estate delayed until the 'dust settles' and greater certainty returns to the market after the elections later in the year," the consultancy said.

Source: PropertyShowrooms.com