Egypt: House price rises continue in Q2 2013, but future is now uncertain
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Egypt’s property market remains robust in the first half of 2013. However, the future of the housing market is now uncertain, amidst ongoingpolitical crisis.
Since Mohammed Morsi succeeded Hosni Mubarak in June 2012, the newadministration has faced rising dissatisfaction, amidst complaints of prosecutionsof journalists, attacks on nonviolent demonstrators and granting himselfunlimited powers. Morsi was ousted by means of a military coup and declaredunseated in July 3, 2013. The military suspended the constitution, establisheda new administration and initiated a fierce cracked down on the MuslimBrotherhood.
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