Nigerian Housing Market

Posted by Viruly Consulting on Wednesday, April 11, 2012 Under: Nigeria
The Business Day of Nigeria reports that Nigeria needs 500'000 housing units per annum. The United Nations (Habitat) has reported that the country has a shortfall of some 16 million units. The demand for housing is also being negatively affected by low levels of mortgage lending and Household budgets have also been hit by the removal of the fuel subsidy. Viruly consulting research also suggests that the rapidly changing traffic patterns in cities such as Lagos are having a profound impact on location decisions by households . Several suburbs in lagos that had good road access fairly recently are now facing considerable traffic jams. But these bottlenecks are  probably only be for a limited duration until road works are completed. It also means that retail catchment areas into the future must take a rapidly changing transport  infrastructure into account.

Francois Viruly

In : Nigeria 

Tags: nigeria housing market 

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