The real estate sector is one of the service sector in the Nigerian economy that is primarily driven by private sector funds. Operating under the present government, the sector is in a tight monetary environment where every transaction is queried as part of an anti-corruption drive. The sector experienced a weak growth in 2017 but in 2018 there was an improvement in its contribution to the nation’s economy.
The real estate industry has some constraints that always prevent it from performing optimally. Political crises, instability in government policies and staggering legislation are common constraints that have directly or indirectly impacted on the level of investment.
Real estate investors have maintained a bit of caution with respect to investing in the sector, and this is understandable to a certain extent considering the risk posed by these constraints.
The perceived difficulty of doing business in this sector is a key challenge that the nation must overcome in order to encourage greater levels of investment.
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