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Despite the huge opportunities and market potential, investors are still holding back on investment in the Nigerian property market.
Analysts cited the slowdown in the economy and the significant decline in consumer purchasing power as a major concern.
They believed that investment in the market, has also been impacted heavily by government’s anti-corruption fight which has been enhanced by the whistle-blowing programme
The size of Nigeria’s housing market, according to a recent research report by Northcourt Real Estate, is estimated at $179.2 billion.
Source: TVC
I can only agree with the first point “decline in consumer purchasing power” but I totally disagree with the second point. Whistle blowing should affect investment. But if things have gotten to the point where investors are scared, then I strongly believe the government should do something to encourage investment in properties rather than discourage it.