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Nigeria’s Real Estate Market Is Worth 6.4 Trillion

In the wake of rising demand for commercial space and housing for middle-income and young professionals in Nigeria, a new report shows that the nation’s real estate market has continued to grow with the sector now valued at N6.4 trillion ($41.2 billion).

According to a report by Agusto & Co., the Lagos sub-segment of the market accounts for at least 40 per cent of the Nigerian market.

Growth, the report revealed, continues to be driven largely by new to market residential and commercial properties in Lagos, Abuja and Port Harcourt.

The report estimates the market to grow by an estimated average of 10 per cent in 2014 and 2015 respectively.

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BWN
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