North Coast Prices in 2024 with Details about Latest Projects

Tasneem Khalil 10 Aug 2024

Egypt's North Coast, known as the "Sahel," is one of the most popular destinations in the country. The North Coast is along the Mediterranean Sea and has the best white-sand beaches, crystal-clear waters, and a mild climate that attracts visitors all year-round. It attracts both local and international visitors looking to experience Egypt’s unique coastal beauty.

In recent years, the North Coast has become more than a seasonal holiday destination to be a symbol of luxury real estate developments. Leading Egyptian and international developers have made great investments in different regions of the North Coast.

The North Coast’s location makes it easily accessible from major cities like Alexandria and Cairo through new highways. The area is now popular for luxury and modern living as it offers different unit types and all services you may need. The projects in the North Coast are fully equipped with high-quality amenities, such as golf courses, marinas, shopping centers, fine dining, and entertainment services. All these features make the North Coast a luxurious destination that provides a premium lifestyle.

Current Real Estate Market

Understanding the current market is crucial for potential buyers and investors in real estate. Market prices reflect the current economic conditions, demand, and supply in the North Coast, which provides a picture of property value. For buyers, knowing the market prices helps in making decisions without overpaying for a property and identifying good deals.

For investors, understanding market prices is important to identify potential returns on investment (ROI). It allows investors to compare different projects, evaluate rental costs, and forecast future appreciation. That’s why staying informed about market trends also helps in timing investments to maximize profits and avoid downturns. Additionally, being aware of market prices can help investors identify opportunities and avoid risks.

Overview of the North Coast Real Estate Market in 2024

The real estate market is experiencing several trends that affect buyer and investor behavior in 2024. One of the most significant trends is the growing demand for luxurious properties and gated communities. Buyers are increasingly looking for energy-efficient homes with potential for long-term cost savings.

Another trend is the preference of remote work, which made some buyers okay with properties in coastal areas. Many are looking for homes with more space, dedicated office areas, and proximity to nature, as they no longer need to commute daily to work.

The real estate market in the North Coast witnesses a high demand for services lasting all year. This resulted in introducing all year-round amenities in coastal projects, especially in new cities such as New Alamein.

Finally, the market is characterized by fluctuating interest rates and economic uncertainty, leading to cautious investment behavior. Buyers and investors are prioritizing stability and value, which makes them often choose properties in locations with strong growth potential.

Factors Influencing Prices in the North Coast

The prices of units in the North Coast are affected by different important factors that make this area a highly popular real estate market. Some of these factors include:

Location: Properties that are closer to popular beaches, resorts, and famous destinations usually tend to have higher prices. The projects that are located in fancy areas like Ras El Hekma, or Sidi Abdel Rahman, and are close to major infrastructure like the Fouka Road have the most impact on property values.
Development Quality and Amenities: The level of luxury, quality of construction, and the quality of amenities offered by a project play an important role in unit prices. High-quality projects with services like crystal lagoons, private beaches, golf courses, and exclusive clubs attract higher pricing.
Market Demand: Seasonal demand from local and international buyers looking for vacation homes or investments can cause fluctuations in prices. High demand during peak seasons often leads to price increases.
Economic Conditions: The economic condition, including inflation rates, currency fluctuations, and economic growth, directly affects unit prices. A stable economy with positive growth prospects typically supports higher property values. Read more about The Impact of 2024 Egyptian Pound flotation
Type of Property: The different unit types surely come at different prices. Projects in the North Coast offer different unit types such as chalets, villas, townhouses, apartments, and duplexes.
Government Policies and Infrastructure Development: Government initiatives, such as new infrastructure projects or development of new cities, increases the attractiveness of the North Coast and adds up to the unit prices. For example, the development of new roads, airports, and public services can make certain areas more desirable.
Developer Reputation: it's important to keep in mind that developers with a strong portfolio are more likely to get more trust from buyers, allowing them to price their projects higher. The reputation of the developer can significantly influence the value of the unit. Get to know 5 Of The Best Real Estate Companies In Egypt And Their Projects

Comparison to previous years’ trends and prices.

In the first quarter of 2024, Egypt's real estate market experienced a significant surge in prices because of the economic dynamics and high demand for real estate. According to data from the country's real estate portal, property prices increased by a 39.3% compared to the same period in 2023. This rise is followed by an additional 22.3% year-on-year growth in the previous year, which indicates a continued increase in the market.

When adjusted for inflation, the increase in real estate prices may appear more modest. On a quarter-by-quarter basis, real estate prices saw a 4.9% increase in Q1 2024. Yet, in real terms, considering inflation, there was an 8.2% decline, suggesting that the nominal price gains may not fully reflect the true purchasing power of investors.

The year 2023 witnessed a 41.9% rise in property prices (6.1% in real terms), following a 25.4% increase in 2022. This growth trend marked a significant recovery from the 9.6% year-on-year decline experienced in 2020, showing the market's resilience and strong performance in recent years.

Latest Projects Prices Launched In 2024

New Alamein City

The New Alamein City is one of the coastal cities built thanks to the government’s initiatives. The city is located on the North Coast and has a large area of over 50,000 acres. New Alamein City is located 85 km west of Borg El Arab International Airport and stretches from the Wadi El-Natrun Road to El Dabaa. The city’s built to be more than a touristic destination as it aims to provide all needed services for sustaining a stable life. The city is more popular for its residential towers, which makes apartments and chalets the most common unit types in the area. The average price in New Alamein is 5,000,000 EGP for the year 2024. One of the latest projects in New Alamein is Alma New Alamein by New Generation Development.

Sidi Abdel Rahman

Sidi Abdel Rahman is one of the most elite destinations on the North Coast as it’s characterized by the soft white sand and the crystal clear water. The location of Sidi Abdelrahman extends from kilometer 120 on desert Alex road and is in proximity to major roads like Al Dabaa road and Fouka road. The area is most known for its luxurious mega project Marassi by Emaar Misr, which added great value and attraction to the area. The common property types in Sidi Abdelrahman include villas and chalets, allowing different clients to enjoy the prestigious area. The price range in this area is somewhat wide because of the great differences of units, however an average price can be 18,000,000 EGP for the year 2024. Some of the latest projects include:

QNorth Sidi Abdelrahman by Q Developments
Marqs Sidi Abdelrahman by The Marq
Masaya Sidi Abdelrahman by EgyGab

Al Dabaa

El Dabaa lies between Sidi Abdelrahman and Ras El Hekma and has a great location as it’s 296 kilometers from Cairo and it is close to El Alamein International Airport. It’s famous for its beautiful nature and proximity to major cities and landmarks. The region has some of the most luxurious residential projects with year-round services. Al Dabaa offers different units including chalets, apartments, and villas with average price of 11,000,000 EGP. The famous South Med by Talaat Moustafa Group (TMG) and Hacienda Waters by Palm Hills come as the latest 2024 projects in the area.

Ras El Hekma

Ras El Hekma is one of the most famous destinations in the North Coast that gained popularity for its luxurious resorts and great investments. Recently, an agreement has been signed with UAE to develop the area which is aligned with Egypt’s vision 2030. Ras El Hekma has a strategic location from the kilometer 178 to the kilometer 220 with a large area of about 55,000 acres. The area has attracted some of the most popular developers who launched luxurious projects. The average price in Ras El Hekma is 8,000,000 EGP. Among the projects launched in 2024 are:

For Further information about Ras El Hekma, read our article about Ras El Hekma With The Best Resorts You Have Ever Seen

Sidi Heneish

idi Heneish is the closest area from Marsa Matrouh and it’s known for its mild climate and turquoise water. The region is located near Ras el Hekma from kilometer 221, with significant history events. Some of the notable projects launched in Sidi Heneish in 2024 include Smeralda Bay and Marsa Baghush. The average price in the area is 20,000,000 EGP with most common unit types as villas.

Investment Potential and ROI

The North Coast has become an excellent real estate investment destination that offers potential and high returns on investment (ROI) compared to other areas. The North Coast has some great features such as very beautiful beaches, modern infrastructure, and growing tourism appeal, which made it become great for both domestic and international investors.

The real estate market in the North Coast also benefits from high demand due to its popularity as a vacation and second-home destination. Therefore the city witnesses a continuous development of luxury resorts and residential projects. This demand has resulted in strong appreciation and rental income, making it a great choice for investors seeking high ROI.

Compared to other regions like Cairo or the Red Sea, the North Coast stands out for its seasonal appeal, which can lead to higher short-term rental income during peak seasons. Also, the infrastructure projects, such as new road networks and improved accessibility, improve the area's investment potential. That's why investors in real estate should consider the North Coast as a top choice.

Factors to Consider Before Buying

Buying a property, especially a second home, is a huge step that takes time and thinking. Although it's exciting and profitable, there are some factors that should be taken into consideration before making a decision. These factors include:

Market stability and future predictions.
Legal considerations and property ownership laws.
Current needs and property selection
Financial planning and mortgage options.
Unit viewing and organizing arrangements.
Purchase agreement and negotiation.
Considering after sale services.

For more information, discover these 5 tips to consider before buying your home

Tips for Prospective Buyers

There are no particular steps you need to follow in order to secure the best deal, as everyone's needs are different. However, there are certain tips you need to consider when you're buying your unit. After making your research you need also to:

Work with real estate experts and reputable developers.
View and compare different units to what suits you.
Compare the cost to the unit value.
Review payment terms and conditions.
Complete the necessary paperwork.

The North Coast is a beautiful coastal destination that has some of the most beautiful beaches and mild climate. It has become a symbol of luxury real estate over the years, attracting both local and international visitors. Well-known developers have taken part in transforming the area into a modern living spot with high-quality amenities like golf courses, marinas, and shopping centers. It's important to work with reputable developers, compare unit options, review payment terms, and complete all necessary paperwork to secure the best deal in the North Coast.

Inland Properties Group is keen to update you with the latest information about the real estate market in Egypt. Also, make sure to follow us on social media Facebook and Instagram for the latest offers and news.