· Over 5 Million Egyptians used OLX on a monthly basis in the first half of 2017

· Property sections on OLX received an average of over 33 Million visits in the first half of 2017

· Each user spends an average of 11 minutes browsing OLX Property in each visit

· 32% of the total listings across all our categories were in the Property section in the first half of 2017

· On average, each property listing gets the first lead within 48 hours of it being listed

Cairo, 13th August 2017 - OLX Egypt, the leading classifieds platform in Egypt, revealed the detailed property market trends report for the first half of 2017 (January to June 2017). The report presents statistics of the performance of property buyers and sellers in the market from data accumulated on the classified platforms as well as the recently launched Storia platform. The report exposes the opportunities in the real estate market indicating optimistic insights for rent and purchases based on online user habits.

Despite the economic downturn and a hike in inflation, over 5 Million Egyptians used OLX Egypt monthly in the first half of 2017, with an average of 33 million visits recorded in the real estate section alone. 32% of the total listings on OLX across all sections were in the property section, highlighting the increasing interest in buying and selling property recently. This trend has provided investors with confidence in listing more property online, and developed a more diversified set of options for buyers to choose from.

Momtaz Moussa, OLX’s General Manager of Egypt, commented on the results of the report stating, “The Egyptian real estate market witnessed exponential growth, leading potential buyers and sellers to utilize online classifieds channels. With the successful launch of Storia, we provided focus on the premium areas in Egypt through an organized and more convenient platform to communicate and trade on”.

Storia launched exclusively as a premium property section across all OLX’s platforms, under the name of “Storia Premium Properties” supporting property developers with more exclusive features and services in publishing listings, and providing a more specialized experience for users looking to purchase premium property.

According to the report, OLX identified that each user spends an average of 11 minutes browsing OLX Property in each visit and receives the first lead within 48 hours of a published listing.

Property section in the first half of 2017

For the property section, the results show an overview of the performance of the property market relative to geographical locations and pricing categories during 2017. The most expensive area is Zamalek with (Rent 16,000 EGP and Sale 4,000,000 EGP), in addition to the most affordable area which is Ain Shams with (Rent 1,300 EGP and Sale 445,000 EGP). The top keywords searched in the property section were: old rent, house for sale, apartment for sale followed by (Al Maady, Sheikh Zayed, Al Obour, Nasr City, 6th of October, Fifth Settlement and Heliopolis).

Property for Sale in 2017 (January to June 2017)

The report highlighted that the apartments for sale had the highest volume of search, with 4,962,213 searches, followed by villas for sale with 391,116 searches and land for sale with 388,297 searches, chalet for sale with 246,857 searches and commercial for sale with 203,265 searches. In addition, Nasr City, Pyramids Gardens, Al Maady are the top areas in terms of listings on the platform followed by (Heliopolis, North Coast, Faisal, Al Mokattam, Al Obour, Al Zaytoun, and Fifth Settlement).

Property for Rent in 2017 (January to June 2017)

Apartments for rent had the highest volume of search, with 1,690,748 searches, followed by commercial for rent with 359,098 searches, chalet for rent with 152,918 searches and finally villas for rent with 46,005 searches. The report unveiled that the North Coast and Nasr City are the top areas in terms of listings in the first half of 2017 followed by (Al Maady, Heliopolis, Al Haram, Marina, Sheikh Zayed, Al Rehab and Fifth settlement).

The results of the reports shows the consumer behavior within the first half of 2017 which acts as a guideline for property developers and brokers to reach their target audience according to their demand. North Coast was one of the top areas in terms of listing as well as chalets for sale and rent which shows that the market is moving toward summer residence due to the summer season in Egypt.

Download the OLX Arabia app which is available for both iOS and Android or log on to the OLX website. The variety of services provided by OLX in the property field, allows potential users, and developers, to identify the suitable category for the property - whether it be the property section or Storia for premium properties.

About OLX Group
OLX Group is the world's leading online classifieds platform present in more than 40 countries across six continents. We connect local people to buy and sell used goods, services, cars and properties. We make it fast and easy to buy or sell almost anything through your mobile phone or on the web.

Through brands including OLX, Avito, dubizzle and letgo, OLX Group is the home of online classifieds in high-growth markets. We are the leading destination for buying and selling used goods and services in 35 countries, and the #1 mobile app in our category in more than 22 markets. Globally we estimate that around 11 million items are exchanged through our platforms every single month, giving products a second life and reducing their ecological footprint. 

OLX Arabia is actively expanding in the MENA region in Bahrain, Egypt, Kuwait, Lebanon, Oman, Qatar and Saudi Arabia

© Press Release 2017