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Economics Expert: Egypt's Real Estate Bubble Unlikely
Economic experts, foremost among them Dr. Majid Abdul Azim, revealed that the occurrence of a real estate bubble in Egypt is almost impossible. This is because the real estate sector has not experienced historic collapses or major crises like those in other countries, such as the 2008 crisis in the United States and Dubai, which resulted from mortgage financing and securitized debts piling up. He emphasized that real estate in Egypt remains a safe and stable refuge over the long term, although concerns about a repeat of the crisis often stem from poor choices by buyers or dealings with unreliable developers. He clarified that the Egyptian market is not suffering from an actual bubble and stressed the importance of legal consultation and site inspection before purchasing.
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