The Increasing Growth of Abuja Property Market

ESV Kolawole Clement Abejide,

Abuja is the capital city of Nigerian, African most populous nation and as a result commands a lot of economic and political activities. These activities have resulted to an increasing demand for real estate products and services. The demand for commercial and residential properties has been on the increase in the recent times. And from all indications, these activities will never slowdown in the near future.

The population of Abuja as an upcoming modern city that is hosting the Nigerian power Centre is on the increase. The economic and political opportunities that are inherent in Abuja have continued to draw people and professionals formal all walks of life to Abuja.  This reason has led to exponential demand for both commercial and residential housing in Abuja.  Thus, providing jobs and business opportunities for real estate professionals like Estate Surveyors and Valuers.  Real estate developers in Abuja are having their best of times when it comes to property development, marketing and sales.

The continues growth of infrastructural development by the government is another factor that is scaling up real estate activities in Abuja.  The construction of new roads, bridges and other infrastructural land marks in Abuja has aided real estate activities in the Nigerian capital city.  Places that were hitherto considered as outskirts of the city are now being massively developed due to the availability of government activities in those areas.  Gwarimpa, Galadimawa, Apo and Idu districts are examples of such new cities within the Abuja metropolis that are heavily being developed.

In all these good pictures painted about the real estate development activities in Abuja, affordable housing is a big challenge for Abuja residents, forcing a good number of those that work and do business in Abuja to live in neighboring states of Niger and Nasarawa.

Government’s major activities have attracted local and foreign investors. This factor has made housing prices to be on the high side, this has not augured well for most Abuja residents. Lands are very expensive, houses are very expensive to buy, and rents are being increased almost on yearly basis.  With the growing population of the city, the real estate market will keep growing

The present state of Abuja real estate market is very positive with a very demanding and profitable future. The onus is now on the government to fully regulate real estate activities of the city. The aim of this is to ensure that professionals are allowed to take the lead for the city’s growth, and make necessary recommendations to the government.  The Abuja development plan should be maintained and adhered to as the city keeps growing in all ramifications.

ESV Kolawole Clement Abejide, an Estate Surveyor and valuer cum serial entrepreneur writes from Abuja, Nigeria.