A recurring decimal in most conversations around Nigeria’s housing market is the country’s housing deficit, which current estimates put at 28 million units, representing a huge market opportunity that resides mostly in the low- to mid-income markets.
However, when the conversation shifts to the investment arena, something curious happens—every investor bets on the luxury towers in Banana Island in Lagos or Maitama in Abuja—a case of staring at the biggest housing gap in Africa and yet building for “1 percent of the 1 percent.”
The deficit has become the number everybody quotes, but no one does anything about, ignoring analysts’ prediction that between now and 2030, the market size will continue to grow, with the value of the market estimated at $ 40 billion by 2030.
Who is building for the $40 billion market opportunity by 2030?
Prince Orji, a real estate market analyst, affirms that the market is growing
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