2022 Nigeria Real Estate Market Outlook

2022 Nigeria Real Estate Market Outlook

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Summary

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. 

Source: Northcourt Real Estate Limited

Published: 2022

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