To a lesser extent, mid-market has been influenced mainly by the banking sector reform has led to wage cuts and job losses in the mid-level workers were the main buyers of this market segment. Although the property market in Nigeria has played haddrastic recessionwith theimpact fall in global demand and prices, especially in the premium segment, experts insist that the market remains a profitable investment haven and Favorites. A combination of factors, including the collapse of the reform of capital markets andthe banking sector by the Central Bank of Nigeria (CBN) had a significant impact on the value of the assets in the luxury market, where prices have fallen about 20-30 percent from its peak in 2007.
Despite all this, however, Okwechime Rose insists that investments in the property market in Nigeria remains a wise decision and an economic gain, noting that Nigeria is the fastest growing economy with a population increase and 16 million housing deficit. Okwechime, director general and CEO of Abbey Building Society Plc, who spoke in an interview with Business Day said that the visit of the major cities of Nigeria shows an interesting development in the housing sector in the country.
He added that the real estate business is very large foreign investors are running because of what it means to countries like Dubai and other Asian countries. The type of structures we have now tells us that the property is a thing from time to time go to places like Banana Island, Ikoyi and Lekki axis of Lagos, one wonders, "he said. Today, history is different. "If you go to Abuja, you can understand what I mean. She said the property is the only active to stay there and continue to have value, asserting that "there will always be people to give mortgages to property." The first group of people who went to Abuja lived in poorly built.
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