How investment in real estate sector can fast-track economic growth by expert
With declining oil prices and contraction in the agricultural sector, the nation can leverage on the real estate potentials to boost the economy and drive national growth.
Founder and Chief Executive Officer BuyRealEstateNG, Chukwuka Daniel Nwokolo, who disclosed this in Lagos, noted that if the sector’s potentials are judiciously explored through proper regulation and adequate investment by the federal government have the capacity to massively create jobs, alleviate poverty and ensure sustainable future for the country.
He stressed the need for proper tracking of the sector’s economic dynamism to address the challenges inhibiting it from reaching its full potential
Nwokolo said the real estate, as the most transformative sector of any economy is capable of attracting more foreign investments with flexible policies, appropriate regulation and optimum investment from the government.
For the sector to thrive, he however said, the government has to sit down with the appropriate regulatory bodies and formulate policies that will favor developers, which in turn will translate into fair deals for the citizens who want to own their houses or reduce payment of outrageous rents.
Listing poor infrastructure, unstable economy conditions, lack of access to funds, poor mortgage system as some of the challenges that have hindered the real estate growth in the country, he however, said that the sector has been growing at an exponential rate with an influx of capital, driven by young savvy investors who foresee the importance of Investing in the sector.
He said: “This is one sector Nigeria cannot do without because everyone needs a roof over their head despite the problem they are facing. We believe Nigeria is the next best place to invest when it comes to real estate.
“Though a lot has improved from what it used be but as the day goes by, policies are being reviewed, construction and reconstruction are ongoing, and things can get better if proper attention is paid to details that could lead to the transformation of the sector and the country as well”, he added.
Nwokolo further explained that BuyRealEstateNG is a bridge that links investors and buyers with the developers, thereby promoting home ownership.
“We do property district marketing to showcase the beauty of investing in properties in many districts in Nigeria while discussing the possible return on investment. The firm is currently revealing the potentials at the Ibeju Lekki Free Trade Zone Area as the next best place to invest in Nigeria. Our team of young and smart personnel will advise and assist our clients to source for both luxury and affordable properties that would suite the budget of our clientele based on their investment capabilities”.
“Our niche in real estate is actually in marketing with our property area marketing, developers will be aware of what area or district were there is high demand and the type of housing that is frequently requested we should be able to through our database guarantee our developer partners at least 20 percent off takers before suggesting projects in any area”, he said.