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Agriculture and Housing Sectors Exempt from Austerity as Oil Prices Tumble

In a bid to reel in spending and cushion the negative effects of falling prices, Finance Minister Ngozi Okonjo-Iweala announced that the government would be commencing austerity measures. Oil prices across the globe have tumbled significantly, putting pressure on Nigeria’s economy where 70 percent of government revenue is generated from oil resources. The benchmark oil price of $77.5 per […]

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Mainland Residential Property Outperformed the Island over a 5 year horizon

An optimal mixed asset portfolio is not just a product of the assets included, but also a product of the relationships among the assets, their respective allocations and diversification qualities. As a result the inclusion of real estate in a mixed asset portfolio has been strongly supported for its diversification ability, which is a result of its low correlation […]

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McKinsey Suggests 4 ‘Levers’ To Close Housing Affordability Gap

A new report by the McKinsey Global Institute (MGI) has revealed that the affordable housing gap in Lagos amounts to as much as 15 percent of the GDP at $5bn per year. Globally, it was reported that the affordability gap was estimated at $650 billion per year, approaching 1 percent of global GDP. MGI defines the Affordability Gap as “The difference […]

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Why Ebola Won’t Affect Residential Property Prices

Exploring the implications that macroeconomic, global and in this case medical factors have in every sector is always an engaging experience. The Ebola virus which recently found its way past Nigeria’s borders will almost certainly have wide-spread implications on the perception of Nigeria as well as her economy. But the question is where will these implications be felt, and […]

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Dutch Investors with over €10b to Invest in Nigeria

A forum scheduled for the month of September themed “Bridging the Dutch and Nigerian Private Sectors,” is set to create a platform for the Dutch and Nigerian private sectors to strengthen economic relations as well as promote new and sustainable business interests for both countries. It was organised by The Netherlands-African Business Council (NABC) in collaboration with Kleef & […]

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Is GTBank really giving Mortgages for 8%?

In a bid to promote transparency and full disclosure, the Monetary Policy Committee decided that all lending rates by Deposit Money Banks will be made public to guide business decisions. The figures published reveal that GTBank’s prime mortgage lending rate is 8%. An impressive figure in relative terms, as the average mortgage rate in Nigeria as of August […]

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Average Nigerian Mortgage Rate is 22.04% – Mortgage Rates for All Nigerian Banks

In accordance with the transparency and full disclosure stance of the Central Bank of Nigeria, the Monetary Policy Committee decided that all lending rates by Deposit Money Banks will be made public to guide business decisions.  Consequently, the prime and maximum mortgage rates for the month of August 2014, obtainable from all Nigerian Banks are […]

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Ozumba Mbadiwe Avenue vs. Kingsway Road – Mixed Use Hub Rivalry

The development pipeline within the office sector in Lagos is exceptionally strong, with reports stating that over 155,000sqm of office space will be coming onto the market within the next 24 months. But that’s not all. Other sectors including hospitality/leisure and residential are expanding aggressively and it is creating dynamic mixed use regions in Africa’s megacity. Most of the mixed use space […]

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Exploring Funding Options for Nigeria’s Real Estate Industry

Niyi Adeleye, Head Real Estate Finance West Africa at Stanbic IBTC Capital and Damilola Akindolire, general manager at AlphaMaed Property Development Company joined CNBC Africa to discuss financing options for the sector. See the video below and an analysis of what was said after. 0:40 – NMRC The NMRC which was kicked of several months […]

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Nigerians resort to rented accommodation

A report by Residential Auctions Company (RAC) has revealed that 60-65 percent of business professionals in Lagos live in rented accommodation due to the high cost of home ownership and the unavailability of suitable mortgage products. The rental market is highly cyclical, like the buying market. The report, published on globalpropertyguide.com, noted that the Lagos […]

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