Northcourt Real Estate Market Outlook 2015

The Nigerian macroeconomic landscape closed out low in 2014 with falling oil prices, declining value of the Naira and other factors over shadowing Nigeria’s latest title as the largest economy in Africa. The rebasing of the Nigerian economy revealed that the real estate sector’s contribution to GDP is larger than was previously estimated, as the current real size is 30-40% larger. The sector is now the 6th largest sector in the economy and is growing faster than average GDP growth. Real Estate grew 8.7% in 2013 compared with GDP growth of 7.4%. In fixed income, 2014 was a very tight year even though no benchmark or interest rate was increased until the tail end. The NSE All share Index fell over -20% YTD1 , as a result of a host of factors including mixed responses to declining or stagnant corporate earning results and political instability.

Northcourt Real Estate Market Outlook 2015

Summary

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