The Daily News Egypt
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
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.