Hisham Talaat Moustafa: Egypt’s real estate market returning to normal after exceptional 2023–2024

September 12, 2026 - 21:21

Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Group Holding, said Egypt's real estate market is now operating at normal levels. He explained that the exceptional activity seen in 2023 and 2024 was largely driven by a rush to preserve savings amid high inflation and currency devaluation. That period pushed many buyers into property as a safe asset, creating unusually strong demand.

Moustafa noted that major developers are still maintaining strong collection rates, which shows that demand for primary housing remains healthy. At the same time, the secondary market has slowed down. He linked this slowdown to tighter liquidity and monetary policy, as high interest rates have reduced the purchasing power of many buyers and made resale activity more difficult.

The TMG Holding chief added that the current pace of sales is more balanced and reflects real end-user demand rather than panic buying. He expects the market to continue adjusting as inflation eases and financing conditions improve. According to Moustafa, developers with solid balance sheets and diversified project pipelines are better positioned to handle the shift, while weaker players may face pressure. He stressed that the sector remains a key pillar of the Egyptian economy and that long-term fundamentals, including population growth and urbanization, continue to support demand for housing across different income levels.