OVERVIEW OF THE REAL ESTATE MARKET IN NIGERIA

  • 2 months ago
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Nigeria has the largest real estate investment by country across africa.

What this means is that opportunities abound in the Nigeria real estate market and savvy investors are not glossing over that.

Nigeria is almost a green field for investors. The size and value of the real estate investment opportunity is estimated at 56 billon dollars.

This is however understandable in a country of 200 millions plus population where housing demand and supply gap is over 20 million units while demand annual housing output is between 50,000 and 100,000 units.

Home ownership according to research is a little about 20 percent.

Investment analysts looks further at the value of investment by cities and reveals that Lagos, Nigeria commercial capital tops the list with $523 million , follow by Abuja,the nation capital city.

In terms of value, Lagos State remains the haven for real estate investment in Nigeria, despite not being the capital of the country. It is however the commercial nerve center of the Nigeria.

Expert says, the state is naturally positioned to have the most valuable and profitable real estate market going by the rising population above any other cities in the Nigeria.

Lagos is the largest state in Nigeria in terms of population with a population of over 22million people which keep rising as more and more people migrate to the city every hour.

The growing middle class segment is an added incentive to the real estate investment in the state.

The top destination for retail investment in Nigeria is Lagos with 260 million dollars worth of investment.

For the office space, Lagos also to the cities in Nigeria with 98 million dollars investment.

The value for investment in the industrial real estate sector in Nigeria is 25 million dollars with Lagos topping the cities that attract the most investment with 24 million dollars follow by ogun state, a state that shared border with Lagos.

Lagos remain the best destination for real estate investment in Nigeria.

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