Real estate, like the stock market, is seen as a major store of value. But funds that had traditionally poured into the real estate market before the change of government have in recent times shied away for fear of attracting unwelcome attention.
One fact that would stay fresh in the minds of many Nigerians and investors in the various sectors of Africa’s most populous nation and largest economy is the fact that it slipped into what many economists have referred to as an avoidable economic recession in 2016. This was largely due to both monetary and fiscal policies which stoked inflation, slowed economic growth and created a volatile exchange rate regime.
This report reviews the events that took place in both the macro and micro-economic spheres in 2016 leading up to the recession and how these impacted real estate markets. It also outlines the real estate market outlook for 2017. Real estate investors would find in this report handy, actionable business information.