Real estate expert: demand for the real estate sector increases in times of economic crises

The real estate expert, Abdel Hamid Al-Wazir, said that in light of the current conditions that the world is witnessing now, of a rise in the prices of products and services, and a rise in inflation rates that may sometimes exceed the bank interest rate announced by central banks, the real estate sector has been affected during the last period by all these repercussions. , which made many real estate development companies announce the process of selling residential or administrative units until further notice, in which conditions become more stable and stable prices, especially in building materials, until the re-pricing of residential and administrative units is based on the The stability of building materials prices for a period of time, what has happened now since the beginning of this year, but unlike the prices of building materials are constantly increasing, and indicators indicate that their prices will continue to rise during the current year.

He added that the aforementioned made some opinions tend to expect a state of stagnation and stagnation in the real estate market due to the rise in real estate prices and the increase in the inflation situation in the country, but on the other hand there are those who We believe that the real estate market will witness a demand during the coming period in a way that may exceed expectations optimists.

Abdul Hamid Al-Wazir believes that in times of economic crises, the best opportunity is in real estate investment, as a result of what distinguishes real estate from the rest of other commodities in that it is a safe portfolio for the value of money that is paid in it like gold, and that its prices increase with the passage of days, and this is due to the nature of real estate as an indispensable commodity like gold and other luxuries.

He added that despite the increase in prices, it will increase more during the coming period due to what we expect from the demand for purchase that the real estate market will witness, because it remains a safe investment in most circumstances and conditions, and thus becomes the real opportunity for everyone who takes the initiative to buy and invest his money in the real estate market at the time. The current one, taking into account some controls when buying, should be through companies that have previous business, financial solvency, a good reputation in terms of delivery times, selection of sites and interfaces, and high investment returns.