A recent report by Estate Intel has highlighted the state of Foreign Direct Investment (FDIs) in the real estate sectors of various African countries.
The report points out that Nigeria is trailing behind Botswana and Morocco in attracting FDIs due to factors such as high inflation, a weakened naira, and expensive production costs.
🚨 December Exclusive Deals Are Here! 🚨
Hurry, limited slots available! Packages are selling out fast!
Book your staycation today and save BIG on our top packages.
Bronze Package (3 days) Limited Slots
4 Bedroom Shortlet🏠 Location: Lekki, Victoria Island, Ikoyi
Enjoy a weekend getaway with Silent Disco, BBQ Night, and Free Breakfast.
Only $2,500 $3,000
Silver Package (5 days) Limited Slots
Luxury 4 Bedroom Shortlet🏠 Location: Lekki, Victoria Island, Ikoyi
Includes chef dining, Silent Disco, BBQ Night, and premium concierge services.
Only $4,250 $5,000
Gold Package (7 days) Limited Slots
Exclusive 4 Bedroom Shortlet 🏠 Location: Lekki, Victoria Island, Ikoyi
Luxury at its finest with chef dining, Sip & Paint, Silent Disco, and VIP bookings.
Only $5,700 $6,000
In 2023, Nigeria experienced the sharpest decline in its currency, the Naira, with an 83% drop in its official rate. This depreciation, coupled with soaring inflation and costly building materials, has made investors cautious about investing in Nigeria’s real estate market.
Krent is a real estate platform in Nigeria. Whether you're looking to buy, rent, or short let a house, apartment, land, or commercial space, check out our listings. You can also request specific properties.
The report emphasized Nigeria’s challenges, including significant currency fluctuations (83.66% Year-to-Date), a high inflation rate (28.92% as of December), and construction expenses averaging $1,700 per square meter. In contrast, Botswana and Morocco rank high due to their stable currencies, low inflation, and more affordable construction costs.
Furthermore, the report underlines how currency performance affects leasing activities in commercial real estate and financing for new projects. The depreciation of local currencies is expected to increase financing costs for real estate ventures across Africa, potentially limiting development opportunities in many markets.
At Krent, we ensure peace of mind by providing a trusted platform where you can find your ideal property without fear of scams or uncertainties.
Click here to read more.