Do you know that Nigeria is well ranked in the World Economic Forum (WEF) Global Competitiveness Report? Nigeria continues to benefit from its relatively large market, which has the potential for significant economies of scale and is an important factor for attracting investment. Currently, there is over 800,000 square metres of property development under construction, mainly concentrated in Lagos and Abuja, Nigeria. According to the WEF report, Nigeria also benefits from an efficient labour market, and its financial market is gradually improving.
Nigeria’s property market is becoming more sophisticated, with prime grade developments seen in the commercial, residential and retail sectors. Real estate professionals in Nigeria mention that there are an increasing number of opportunities in the real estate sector for investors, as this particular market suffer from an undersupply of A-grade stock. We have known this for long at South and Sttes Properties, and that is why we provide a professional front to guide investors and protect their real estate investments in the country. We remain optimistic about the long-term prospects for investors in real estate in Nigeria.
Although the New World Wealth (NWW) report notes that Nigeria’s commercial property market performed poorly during 2007 to 2013, with prices falling by three percent in US dollar terms, there are significant positive developments since 2013 till date. South and Sttes Properties observe that real estate investment in Nigeria is still growing and will not stop anytime soon, especially in the more sophisticated cities of Lagos and Abuja, Nigeria. This is why we keep telling prospective investors that no matter how small you think your budget is, contact us at South and Sttes Properties and let us provide a professional real estate investment support for you.
To invest in real estate, contact us via any of the following:
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