Nigerian REITs Market Lags Behind Peers in Real Estate Investment Potential
The Nigerian REITs market is struggling to keep up with global peers despite the country's significant growth potential in real estate investment. With a housing deficit of 28 million units and an active rental market accommodating 80% of the population, Nigeria's REIT market remains underdeveloped compared to countries like South Africa and Kenya.
The sector faces challenges such as low returns, with Nigerian REITs offering only around 7%, far below the rates in other African countries. Operational inefficiencies and a lack of legislative groundwork have hindered the listing of more REITs in Nigeria, limiting investor interest and participation.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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