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Real estate trends play a crucial role for agents in Nigeria as they provide valuable insights for making informed decisions. This blog post will cover the importance of staying updated with real estate trends.
The Nigerian real estate market has experienced significant growth in recent years. According to data from the Nigerian Bureau of Statistics, the real estate and construction sector grew by 2.85% in 2019.
This growth can be attributed to increased urbanization, population growth, and government infrastructure projects. The real estate market has become a lucrative investment opportunity for both local and foreign investors. The value of property transactions in Nigeria reached $360 million in 2019, reflecting a strong market demand.