EXPERTS PRIDICT FURTHER DIP IN REAL ESTATE MARKET

  A combination of heightened uncertainty and eroding affordability is expected to cut into demand and contribute to a weaker real estate market in 2019, and 2018 harsh economic realities made the sector to underperform in terms of yield and returns, according to industry experts. While the economy remains weak, demographic fundamentals remain strong, lack of clear policy in 2018 impacted negatively on prospective home owners access to mortgage financing in the market. Notably, mortgage interest rates are also on the rise, further reducing buying capacity. As the activities of the Nigeria Mortgage Refinancing Company (NMRC) are yet to be felt in the market, the high interest rate are expected… Read More

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EXPERTS LAUD FG’S NEW POLICY ON PUBLIC BUILDING MAINTENANCE…SAY IT WILL CREATE JOBS.

  Experts in the built environment have commended the Federal Government’s initiative towards ensuring proper maintenance of public buildings in the country. They stated that it would help the economy to grow by increasing the number of facility management entrepreneurs. The Senior Special Assistant to Ogun State Governor on Facility Management, Mr Segun Adebayo, said the policy would not only enhance the quality of national assets but would also support the preservation of the life cycle of new assets. Adebayo, who is also the vice president, International Facilities Management Association, Nigeria Chapter, said the policy would propel the revival of maintenance culture in the country and increase the economy of… Read More

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REAL ESTATE CAN FAST- TRACK NIGERIA’S GROWTH IF STRUCTURED.

The Chief Executive Officer, 3Invest, Ruth Obih-Obuah, has said the real estate sector can fast-track the growth of the nation’s economy if adequately structured. Obih-Obuah spoke ahead of the seventh edition of the Real Estate Unite Summit, which is being championed by 3Invest. She said, “Undoubtedly, it is the most transformative sector of any economy and one of the most effective tools for poverty alleviation and job creation. Contributing meaningfully towards the vibrant development of the Nigerian economy, the sector is capable, if adequately structured, of fast-tracking economic growth and development, coupled with high level of massive employment creation, thereby creating a better and sustainable future development. “However, there is… Read More

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