After gathering data for over one year, leading Egyptian real estate portal Aqarmap has launched a report to offer up insights into industry trends to benefit agents, brokers and developers.
The CEO of Aqarmap, Amad Almsaodi, says the biggest challenge facing real estate companies and consumers in Egypt is credible market information.
“Our trends report allows developers to know what the consumer demographic and buying trends are so they can build projects that cater to their needs. Also, real estate brokers have used the report data to identify opportunities where demand is peaking so they can double down their efforts there,” Almsaodi said.
The report is split into three sections: the first section is about general demographical and demand trends trends; the second section offers closeup insights about each specific neighborhood; and the third section focuses on pricing trends at the lowest granular geo-level.
“Since we started Aqarmap, we wanted to become more than just the leading real estate market place in Egypt,” Almsaodi explains.
“Our goal was to become a source of knowledge for the industry and the public, so we built our product to capture detailed insights as people used the website.”
“We also conducted a massive survey at the end of the data collection process to add final qualitative insights to the report where the consumers can voice their needs directly, and the survey results were used to paint a holistic view of the market.”
Almsaodi says since publishing the report Aqarmap has been approached by VC funds who are interested in helping them to scale the data-driven model beyond Egypt.