Refugees' return to Sudan shakes Egyptian housing market

As the Sudanese Army regains territory from the Rapid Support Forces, many Sudanese refugees in Egypt are heading home — a shift that's significantly impacting Egypt’s housing market, according to The New Arab.

Mustafa Kamal, who owns an apartment in Faisal, a low- to middle-income neighborhood in Giza favored by refugees, said his property’s value has dropped sharply.

“My flat was worth 1.5 million Egyptian pounds (around $29,000) just seven months ago,” he told The New Arab. “I’ve lowered the price by 200,000 pounds ($3,900), but buyers are scarce.”

Kamal listed his property after Sudanese tenants vacated it two months ago. He had been renting it for 8,000 pounds ($156) monthly — nearly four times the rate before the refugee influx.

About 1.5 million Sudanese fled to Egypt during Sudan’s two-year conflict, driving up demand for affordable housing and pushing rents higher. Now, as the Sudanese Army is retaking territory, around 123,000 refugees have returned to Sudan since January 1, says the International Organization for Migration, causing demand — and prices — to fall rapidly.

While this downturn may be hitting landlords, it's a relief for Egyptians who were priced out during the refugee surge.

“With refugees leaving, demand will drop,” said Essam Raslan, a Cairo mechanic and father of three. Last year, he was forced from his home after his rent was raised from 1,500 pounds ($29) to 6,000 pounds ($117) per month.

“This will hopefully end the unjustified rent hikes,” he added.