Egypt's rental market has deteriorated severely, driven by a 70% drop in the local currency and soaring inflation at 40%. Recent legal changes threaten to end generational rent controls, making rent dramatically more expensive for millions of families. Although only 14% of the population rents, this number translates to 3.3 million families, many living under outdated contracts in major cities like Cairo. As prices in the rental market diverge vastly, landlords express frustration over maintaining low rents, while the uncertain legal landscape leaves tenants in jeopardy of impending cost surges.
In a country where the rental market is plagued with instability, many families cling to aging contracts that keep their rents absurdly low while sparking frustration among landlords.
The recent judicial ruling that threatens to end rent caps could radically change the rental landscape, putting pressure on millions of families reliant on outdated agreements.
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