'Demand on Housing' report released showing pivotal figures

CAIRO - 9 December 2019: The Central Agency for Public Mobilization and Statistics and the Social Housing Fund released on Monday a report measuring demand on social housing and the income level of those who deserve it.

The fund’s Chairwoman May Abdel Hamid stated that results were derived from 10,000 samples, and that 35 percent of surveyed citizens had already applied for residential units in social housing projects. The official added that the income of 75 percent of the sample matches the maximum monthly salary set for eligibility.

Abdel Hamid declared that 76 percent of Egyptian families own their homes, and that home ownership in Greater Cairo has hit 60 percent, which is a rate that does not exist in many expensive cities in the world. The official highlights that the main reasons behind real estate purchases are marriage and social class enhancement.

For rent rates, the report shows that 25 percent of Greater Cairo dwellers are tenants of residential units in the old rent system, whereas they pay the owners LE 50 on average per month. The new rent system applies to 12 percent of Greater Cairo dwellers and the average of the monthly rent they pay is LE 650. Twenty-two percent of the income of new system tenants goes to rent payment.

The report indicates that 29 percent of Egyptians want to live in the same neighborhood and 47 percent want to reside in the same governorate. Seventy percent of Greater Cairo dwellers want to move to new cities.