There is no real estate bubble. The problem with "resale"

Real Estate "about what is raised about Egypt at the threshold of the" housing bubble ", for several reasons The annual growth of the housing stock is 2.5 million per year, demand for real estate is superior to the supply, the third-party demand for real estate, the requirements of banks to finance real estate developers and the fourth for real estate developers .

and the need to regulate the market real estate by creating a tripartite committee consisting of the Ministry of Housing and Parliament's Housing Committee and representatives of the business community to discuss legislation before adoption and the creation of promoters' badociations In addition to allowing the private sector to work as a public developer, not to sell unfinished properties to limit the spread of closed apartments, to monitor the advertising of fictitious businesses and accelerate quick and serious steps to export real estate like other Arab countries.

This was at a workshop organized by the Construction and Construction Committee of the Egyptian Men's Business Association under the title "Bulle Real Estate in Egypt .. Fact or Fiction" in the presence of Engineer Hussein Sabour, Honorary President of the Association and many real estate developers.

The engineer Fathallah Fawzi, chairman of the badociation's construction committee, pointed out that the Egyptian market is completely out of the way of central bank decisions and laws on credit- lease that do not allow the financing of the property.

Fawzi added that the Egyptian market is completely devoid of all the data that led to the bursting of the mortgage crisis in many countries, which began in the United States of America In 2008, he stressed that real estate investment in Egypt is safe and attractive for local and foreign businesses, especially in light of recent economic reforms.

The profits of real estate companies, although they do not account for more than 20% of total costs, are "fair" and do not concern large companies, indicating that the offer covers one-third of the demand and that sales of companies double . Hussein Sabour, Honorary President of the Egyptian Association of Businessmen The prices of real estate in Egypt are much lower than the prices of the units on a world scale, especially in terms of land prices and prices, highlighting the importance of activating the sales movement in a non-traditional way by the tendency to export the property abroad. (19659003) Sabour emphasized the importance of the promulgation of legislation by the government and the establishment of a mechanism to regulate the export of real estate through the establishment of strict controls and requirements on companies Who will vote For the ghost companies do not harm the Egyptian reputation abroad by fraud or fraud that negatively affects the Egyptian market, export rates in neighboring countries reach about $ 20 billion a year, making the Egyptian market competitive with the devaluation of its currency. "The total number of real estate companies in Egypt can reach 150 companies, but the percentage of serious companies between 30 to 40% of those who have the financial and technical solvency that qualifies them to continue on the market, which offered the majority No business Because of conditions of competition and bad financial solvency

Dr. Ahmed Shalaby, member of the construction committee of the badociation, attributed the news that there was a bubble on the market due to the opinions of some stock market experts, not experts in real estate development .

Shalabi added that the problem lay in the resale operations, since the owner of the unit asks to sell them in cash at the same price as the real estate developer sells them by installments.The purchasing power is good and the customers' commitment is 95% .There is a supervision by the central bank to emp expensive the occurrence of a bubble, He pointed out that there is no evidence or indication of the possibility of a real estate bubble at l 39; future because most of the funding comes from the savings of individuals and not from (19659003)

Shukri pointed out that in the case of a slowdown or contraction of the market a few years is a Healthy phenomenon to clean the real estate market Intruders and so the market organizes itself by demanding the establishment of a support fund for the

Shukry stressed the importance of l & # 39; # 39; export orientation of the property at the present time to compete with exporting countries, including Saudi Arabia and some Arab and neighboring countries, He pointed out that real estate companies are facing many problems because of the proliferation of unskilled and unskilled brokers who acquire 70% of ransactions. The real estate market and its practices significantly affect the prices of shares, asking for depreciation

A member of the Association of Businessmen, Ybader Ibrahim, called for the organization of business. land-sharing operations and the development of balanced contracts in partnership projects between the government and the private sector and the establishment of controls Ensure the reliability and speed of implementation of projects by setting a minimum limit of controls and the price is only the specified and preventing the sale of properties without finishing