All markets have continued to adjust to the pandemic - but each market
has had to adjust in its own way
and the real estate market is no exception.
Over the next 20 years, analysts expect that
the value of global investable real estate will
grow by an average of 5.2% annually to
exceed $85Trn. The investment rationale
for owning real estate remains attractive,
macroeconomic shocks and political
forebodings regardless. The world's largest
black population heads to the polls in 2023.
The pandemic, in its various iterations (the
latest being Omicron as of the time of
writing), delivered more blows to the
economy, ensuring that the Q3 foreign
trade balance recorded negative N3Trn.
Weakening non-oil revenues, while slightly
recovering by Q4 of 2021 nag the present
government. To shore up accounts, the
government took to raise record sums in the
bond market – N2.6Trn by some estimates.
The President signed the Petroleum
Information Bill in a bid to improve energy
governance. Still, the perception of
corruption remains a source of concern.
2022 Nigeria Real Estate Market Outlook
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Summary
Source: Northcourt Real Estate Limited
Published: 2022
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