The pandemic started in 2020, and 2 years later, all sectors are beginning to adjust to its effect on the economy. 2022 is a pre-election year in Nigeria and by 2023, there will be a presidential election and a lot of gubernatorial elections across the country. Analysts expect that  Over the next 20 years, the value of global investable real estate will grow by an average of 5.2% annually to exceed $85Trn. 

Experts predict a 2.9% increase in 2022

According to Guardian, real estate experts predict a high demand and stable real estate growth in 2022 which amounts to around 2.9%. The Housing Development Advocacy Network (HDAN) predicts that the general outlook for the sector is bright, especially given its performance in the 2021 where it recorded growth of 2.3 per cent as against 1.9 per cent. It predicts a 2.9 per cent growth this year.  
 Nigerian Real Estate might get an Annual GDP of more than #2.7trillion

The real estate sector in 2022 is expected to rise significantly. This is because 2022, being a pre-election year, will open doors to grand announcements of government-led expenditures on social projects. Abandoned projects will be completed and new stakeholders will invest in new lands and new properties across the country.

FMBN will keep mortgage rate at 6% or less

The Federal Mortgage Bank of Nigeria (FMBN) still has its mortgage rate as less than 6% Annual Interest. Although these mortgage bank rates require some commitment, the federal government is still interested in the Federal housing loan for citizens of the country

Lagos Real Estate will Continue to Grow

Real estate in Lagos is not stopping anytime soon. With the expanse of land still available around Epe, Ibeju lekki, Ikorodu and new land areas, real estate development will continue to soar and this year is a good time to get into the lagos real estate market. Collaborate with trusted real estate industries like SeptemVII investment (a subsidiary of Eleganza 7 stars company). 

Source:Septemconnect