Na wah oo! Dis one no be funny matter again o! As 2025 Nigeria Real Estate Report don drop from Ubosi Eleh & Co., e show say everything dey scatter for construction sector because of economic wahala and supply chain wahala wey no wan gree rest.
According to di report, dis economic gbege don make investors dey fear, both foreign and local ones. Dem dey run from real estate sector like say na fire dem dey escape. E say, “Economic uncertainties and supply chain disruptions led to project delays and cost overruns, impacting the delivery timelines of real estate developments.” Na so wey naira dey jaga-jaga, and di price of cement, steel, and labour dey climb like say dem wan rent helicopter.
Dem say as e be, if you wan build house now, you go need carry plenty cash, because di thing don cost pass waiting plenty people fit afford. Dem don even say rise in operational costs don make landlords dey jack up di rent. E no go sweet for tenants wey dey try manage di little dem get.
Emeka Eleh, di senior partner for Ubosi Eleh & Co. don shout say any real estate project wey no get current budget fit turn to ‘Who go pay pass’ contest. He talk say di naira wey dey drop like say na trampoline plus rising price of construction materials dey impose wahala wey no be small for developers.
Di report dey carry serious talk about how di growing demand for affordable housing dey clash with di reality wey be say e no dey easy to build am again. Di government dey try, as dem dey push initiatives to help developers, but if e no fit connect, how dem go fit enter di market?
Jah! Josephine wey dey report all dis gists for The PUNCH don sabi ground well well, she don dey cover di building industry for more than two years. She know as e be when market dey hot like pepper.
To wrap am, if you dey plan to enter di real estate sector now, my guy, make you shine your eye well! E be like say dis place no go clear anytime soon unless something major shift for di economic scene. E be like say dem go need to dey do plenty prayer and hustle before e fit jam di right path again.
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