Panterra Report: Nigeria Ranks Third in Real Estate Attractiveness
According to the report titled ‘West Africa Real Estate Investment Attractiveness’ launched by Panterra Real Estate Group, Nigeria ranks third in real estate investment attractiveness among 16 West African countries, following Ghana and Côte d’Ivoire. The report, based on research by Karsten Lieser and Alexander Peter Groh, evaluates countries based on GDP size, GDP per capita, GDP growth, workforce, inflation, and innovation.
Ghana's top ranking is attributed to its strong real estate market, which offers high rental yields averaging 8-10 percent and a projected ROI of about 12 percent in US dollars by major developer Devtraco Group. Ewurabena Braye, Devtraco’s head of sales, emphasized Ghana's efficient legal system for resolving commercial disputes.
In contrast, Nigeria's rental yields are lower at 4-5 percent, but it excels in real estate investment opportunities due to its large population of over 200 million and a housing deficit exceeding 20 million units.
Plus234Feed summary based on reporting from BusinessDay. Read the original report below.
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