Global economies have relapsed, so also is the domestic economy of Nigeria as a result of the COVID-19 pandemic which has caused the economic downturn, in hand with socio-political issues currently occuring in the government.
A research statement given by Nairametric gives an insight of the Nigerian economy, pointing towards the possibility of another recession. This insight has relatively created panic in various sectors across the country.
With foreign and local investors looking to not get caught in a losing economy, as well as other investors looking to capitalise on the current situation while betting on its future outcome, the green lights point towards real-estate and properties.
A conversation with CEO of 9ize 9 International, Mr Owen Ali gives clarity as to this possibility and what this means for citizens. Mr Owen says “the real value of any economy asides its mineral and human resources, is its land area.
piece of land held within a broader area is the most valuable asset of that state, and who owns it relatively controls it. What this means is, with the possibility of another recession, the hassle for land and properties is going to skyrocket, which invariable creates a window for timely investors to claim their pieces.”
[He] added “Homeowners and property owners are the most secure, regardless of the economic situation, and investing in real-estate, properties and home is always the future, because they are guaranteed to appreciate”.
Housing and property investment could possibly be the future, for individuals who are informed enough on what to look out for and what to stake their investments on, as the real-estate market isn’t just about buying up houses and owning landed properties. It is important to understand the nature of the market and how you can best take advantage of it adds Mr Ali.
With the Forigen exchange market moving strongly against the Naira, thereby negatively affecting trade and further depleting the exchange reserve, the markdown of the Nigerian economy might yet face another hit in less that four years, a possibility that would prove difficult for investors and business owners alike.
