Though the real estate sector is growing in Nigeria with significant growth to GDP, the growth does not represent the large size of the country’s market where demand and supply imbalance is huge due to challenges that include lack of good policies and coordinated leadership. For the sector to grow optimally and close the yawning gap in the market estimated at 20 million units, there is need for a...
Investment in real estate is believed to always be safe and profitable. But the current global economic downturn may question the conventional wisdom. Scepticism about investing in Nigerian and even the global housing industry could be driven by a sense of political uncertainty, technology trends and economic recession. Modern real estate development remains in its infancy in Nigeria, regardless of...
Arguably, every adult would like to have a piece of real estate, either for housing and accommodation, or investment purposes. Unfortunately, this wish almost always ends up as a mere dream.The reason for this is that real estate, for whatever purpose it is needed, is believed to be capital intensive and most people, including those with ‘can-do’ spirit run away from it because, in their mind, it is...
‘Legislation will reduce effective demand, real estate value’ Experts in the real estate sector have condemned the recent pronouncement by the Lagos House of Assembly to pass new property acquisition and business ownership laws that only favours indigenes of the state. They described the move as an attempt to jeopardise economic development, especially in the real estate sector, which has over...
ACCRA - Ghana's consumer inflation accelerated slightly to 42.2% year on year in May, up from 41.2% in April, the statistics service said on Wednesday. The West African nation is grappling with its worst economic crisis in a generation and is restructuring its debt. Authorities turned to the International Monetary Fund for a support package in July last year after rampant inflation spurred street...
Interview with Alaa Zayed, Co-Founder and CEO at VAAL Real Estate Ghana Could you introduce yourself and your projects? I am Alaa Zayed, the CEO and co-founder of VAAL Real Estate in Ghana. With over 20 years of experience in the real estate industry, we started our journey in Egypt where we delivered more than 100 certified projects in the capital. In 2016, we expanded our operations outside...
Interview with Erdinc Asar, Managing Director of Acacia Build Ltd Can you outline the steps you took when setting up your business in Ghana When we first came to Ghana, we did some feasibility studies. We looked especially at Accra, Kumasi, Takoradi and other places. We understood that this country needs lifestyle concepts and that does not mean just selling four walls to people. We want to sell...
Ghana's consumer inflation slowed to 41.2% annually in April from 45.0% in March, the statistics service said on Wednesday. It was the fourth consecutive month that inflation has slowed, since reaching a more than two-decade high of 54.1% in December. The cocoa, gold and oil-producing nation is facing its worst economic crisis in a generation and is in the process of restructuring its debt in order...
Real estate is an important sector of the Ghanaian economy and has seen significant growth in recent years. The demand for real estate in Ghana is driven by the country's rapid urbanization and population growth. Additionally, there has been an increase in foreign investment in the sector, particularly in the luxury and high-end residential market. According to data from the Ghana Real Estate...
While real estate markets struggle in the developed world, Ghana remains a hotbed of opportunity. If you miss the red-hot real estate deals of ten years ago, take heart. Those kinds of deals may be few and far between in your country…but in Ghana, they are still plentiful. Ghana, an English-speaking West African nation endowed with a wealth of natural resources, has witnessed...
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