For more than five years, Egyptians have been looking for a safe and profitable haven for their savings and for a long time the US dollar was seen as the safest bet. She believes that the real estate market is currently a providing huge supply, which it seems will remain high in the next term. With the current interest rate that banks provide, El-Swaify said that the current diversification of saving accounts cannot provide good profits if the interest rate is lower than the rate of inflationThe banks wouldprovide a good interest rate if the inflation rate was lower than the interest rate, but even in these circumstances savings accounts are not viewed as the best safe havens. Having gold as a safe haven has always been an option. He believes that real estate is the best choice for sensible investors and that the two different investment options, gold or real estate, cannot be compared due to a difference of factors.

Source: Daily News Egypt October 23, 2016 20:15 UTC