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A Study of Factors Affecting Apartment Prices in Gated Communities: The Case of Cairo, Egypt

Author

Listed:
  • Aly Karam
  • Robert Simons
  • Amad Almsaodi
  • Samuel Owusu Agyemang

Abstract

The Greater Cairo Region (GCR) is considered by Statista (2021) as the twelfth urban agglomeration in the world with a population of 21 million. According to Aqarmap, there are around 800 gated communities in the GCR with around 20,000 listings currently for sale. A hedonic regression model is used to determine the factors affecting the listing prices of these apartments. Factors such as unit size, finish, views, floor height, community amenities, distance to highway interchanges, shopping centers, sales terms, developer reputation and proximity to poor residential areas are included. The model R2 is .63. Controlling for location and sale date, results show that list price most affected by unit size, level of finish, and cash sales terms. We believe this is the first housing regression model focusing on Cairo.

Suggested Citation

  • Aly Karam & Robert Simons & Amad Almsaodi & Samuel Owusu Agyemang, 2023. "A Study of Factors Affecting Apartment Prices in Gated Communities: The Case of Cairo, Egypt," AfRES afres2023-025, African Real Estate Society (AfRES).
    • Handle: RePEc:afr:wpaper:afres2023-025
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    More about this item

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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