Following
rising demand for commercial space and housing for middle-income and young
professionals in Nigeria, 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.
The report revealed that growth continues to be driven largely by new to market residential and commercial properties in Lagos, Abuja and Port Harcourt. The market is estimated to grow by an average of 10 per cent in 2014 and 2015 respectively.
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