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Nigeria has been scored low in the 2022 Global Real Estate Transparency Index (GRETI) released by JLL and LaSalle Investment Management. Out of 156 cities across 94 countries and territories covered globally, Nigeria was ranked 60.
Following persisting unfavourable policies and liquidity crisis affecting the economy, the heat on the nation’s real estate is intensifying, especially on the residential market.
Following the economy’s poor performance in the last few years, Nigeria’s housing market has lurched into recession, with professionals and property developers seeking review of major drivers of the sector.
Housing experts have advocated the institution of land policy that will confer title to landowners and enhance seamless transactions for poverty alleviation.