The Growing Trends of Luxury Real Estate in Nigeria

ESV Ene Edward

Even in the midst of the challenging Nigerian business environment, luxury real estate business has continued to grow in leaps and bounds and making huge Returns on Investment (ROI) to the investors in this prime and capital intensive of the Nigerian real estate market.

Across Nigerian major cities, the property market is experiencing an uncommon surge in luxury property developments.  The clientele base in this direction is equally on the increase as investors seek to develop top-notch, mart and modern luxury properties. This trend is not only positioning Nigeria as home for luxury properties, it is also redefining the entire real estate landscape, and putting Nigeria in the forefront of choice property development, marketing and sales.  Fine & Country, Cadwell, CW Real Estate, Sujimoto, and Knight Frank are market leaders in luxury property development in Nigeria. These brands have not only made names for themselves. With a commitment to professionalism, they have excelled over the years in the business of prime property development for all classes of clients.

With a growing demand for properties that offered all-inclusive living style, not just living spaces, but also access to all that defined a luxury home, this market segment of the Nigerian real estate sector will continue to grow. The simple and undeniable fact that these classes of properties are owned by high net worth individuals is the major reason why the demand will keep going higher, especially in major Nigerian cities. According to reports, the future of luxury real estate market looks so bright.

In a world, where the gap between the poor and the rich keeps widening, the society will remain classless as more and more persons have the tendency to invest and live in luxury accommodation as soon as the get “ up there” . In the case of Nigeria, this will continue to grow as so many well-to-do Nigerians at home and in diaspora will keep investing in luxury properties and estates.

For this very important market segment of the real estate space to keep growing and profitability and luxury living assured, professionalism must be maintained by all players in the industry.

ESV Ene Edward Edet,  a registered Estate Surveyor and Valuer is the Principal Partner Ene Associates (Estate Surveyors & Valuers). He Wrote from Uyo, Akwa-Ibom State.