37% of A class pur­chase prop­erty to in­vest: Aqarmap

42% of af­flu­ent buy­ers pre­fer fully fin­ished units, com­pared to 39% of B class, says Aqarmap

The Daily News Egypt - - Business -

Aqarmap sur­vey re­vealed that 37% of A class (af­flu­ent) buy­ers pur­chase units for the pur­pose of in­vest­ment,and 29% of B class (mid­dle and up­per mid­dle class) buy­ers pur­chase units for in­vest­ment. Mean­while, 7% of A class buy­ers pur­chase prop­erty as first homes and 11% of the B class pur­chase prop­erty as first homes. Fur­ther, 8% of af­flu­ent buy­ers pur­chase prop­erty for their chil­dren and 12% of the mid­dle and up­per mid­dle class buy prop­erty for the same ob­jec­tive.

Re­gard­ing amenity pri­or­i­ties in res­i­den­tial com­pounds,60% of af­flu­ent and 61% of B class clients seek green ar­eas, while 18% of the A class and 17% of the B class have a need for malls. Fur­ther­more, 8% of af­flu­ent and 7% of mid­dle and up­per mid­dle class buy­ers seek smart homes and 7% of theA class and 5% of B class need water sur­faces. In ad­di­tion, 2% of af­flu­ent buy­ers need child care ser­vices com­pared to 3% of the B class.

The re­sults showed that 28% of the A class see that their units must be in­side a com­pound com­pared to 20% of the B class,while 25% of af­flu­ent clients pre­fer to buy units in­side com­pounds com­pared to 24% of the B class.

Mean­while,49% of af­flu­ent pur­chasers see that it de­pends on price com­pared to 64% of the B class.

The sur­vey pointed out that va­ca­tion home pur­chas­ing trends are to­wards the North Coast, with 27% of the A class and 24% of B class pre­ferred their sec­ond homes to be there, fol­lowed by Ain Sokhna with 20% of the A class and 18% of the B class. Mean­while, 11% of the A class prefers to buy prop­er­ties in Alexan­dria com­pared to 14% of the B class.Also,16% of af­flu­ent buy­ers pre­fer to rent units com­pared to 18% of the mid­dle and up­per mid­dle class.

The re­sults of an elab­o­rate sur­vey that was sent by Aqarmap to more than 1.4 mil­lion buy­ers showed that buy­ers’ with ages rang­ing be­tween 31 and 40 years old con­sti­tute 35% of buy­ers, fol­lowed by buy­ers with ages from 41-50 years old rep­re­sent­ing 34% of buy­ers, while 32% of them are above 50 years old.

About 42% of the A class pre­fer fully fin­ished units, com­pared to 39% of the B class, while 25% of the A class and the same ra­tio of the B class pre­fer semi-fin­ished units. Only 3% of the af­flu­ent class pre­fer fur­nished units com­pared to 2% of the mid­dle and up­per mid­dle class.

In March, more than 410,000 Egyp­tians liv­ing in the GCC, Europe, and the US vis­ited Aqarmap to pur­chase prop­erty. That in­flu­en­tial seg­ment of buy­ers has wit­nessed an in­crease in its pur­chas­ing power and has been ex­tremely ac­tive since the de­val­u­a­tion of the Egyp­tian pound.

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