In recent years, Nigeria's real estate sector has encountered a challenging landscape, marked by the nuanced impact of a fluctuating economic climate. As Africa's largest economy, Nigeria's real estate market, historically seen as a bastion of growth and potential, now contends with the complex interplay of economic uncertainties, significantly influencing investor sentiments and shaping market dynamics.



Nigeria's economic trajectory witnessed fluctuations influenced by multiple factors, including volatile oil prices, political instability, and global market dynamics. According to the National Bureau of Statistics (NBS), Nigeria's GDP growth rate, which stood at 2.45% in 2022, experienced a slight downturn to 2.15% in 2023, signaling persistent economic disruptions. The reverberations of these economic uncertainties reverberate through Nigeria's real estate market, where statistical data from the Real Estate Developers Association of Nigeria (REDAN) shows a 12% decrease in property transactions in major cities in 2023. These transactions reflected a 17% decline in property values over the past two years, illustrating the cautious approach of investors amidst market volatility



Additionally, rental yields across the residential sector exhibited a moderate decline, averaging at 4.5% in 2023 compared to 5.2% in 2021, as reported by market analysts.

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