The property market is a very dynamic one and is very sensitive to economic changes. Controversies in expert opinions can be distracting even for seasoned real estate investors. One of the most talked about topics with regards to the Nigerian economy is related to crude oil prices, inflation and exchange rate. In 2016, a lot of questions have been asked about the real estate market in Nigeria and the effect of plummeting dollar exchange rates in the black market coupled with fallen crude oil prices which appears to cripple the economy.
Economist and Chief Executive Officer of Financial Derivatives Company Limited, Mr. Bismarck Rewane, had stated, in a Punch Newspaper interview, that the real estate market will be a dynamic one in 2016. Oil price, exchange rate, gross domestic product and inflation are some of the macroeconomic indicators that would affect different segments of the real estate market. Major commercial real estate and luxury residence may be delayed as foreign investors are likely to be more cautious with funds. He also mentioned that the economy will rebound after currency adjustments have been made therefore attracting more foreign capital.
A UK property expert, Mr Hebert Chapel, in a Sun Newspaper interview agrees that the real estate industry is relatively stable even with the reoccurring theme of economic hardship. He revealed that Nigeria has been proven through research to be a strong market for real estate business. He also revealed that most offices in the UK are taking cognizance of the country’s importance in the sector. Nigeria accounts for 40% of real estate deals in Africa. He also noted that there are still many opportunities to meet the housing shortage for an enormous populace.
We study the fluctuations of macroeconomic indicators in the Nigerian economy and offer valuable insight based on research. We have initiated educational series on real estate market reviews and projections to guide investors on working strategies and best practices for real estate investment and development, project financing. With a strong focus in research and a database on market statistics we also generate annual in-depth reports on state of housing market that reflect current market situation across major cities. Our expert advice can be deployed at micro and macro-economic levels and used as an advisory tool by individuals, government, property developers, mortgage lenders and financial institutions.
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