Highlights
- In Nigeria, the Real Estate market market is anticipated to achieve a value of US$2.81tn by 2026.
- Among the various segments within the market, Residential Real Estate holds the largest share, with a projected market volume of US$2.43tn by 2026.
- Over the period of 2026-2029, the market is expected to exhibit a compound annual growth rate (CAGR) of 6.69%, resulting in a market volume of US$3.41tn by 2029.
- When compared globally, United States is projected to generate the highest value in the Real Estate market sector, amounting to US$141.3tn in 2026.
- The real estate market in Nigeria is experiencing a surge in demand for luxury apartments in major cities.
Market Definition
Definition:The real estate market refers to the transaction of properties, including residential properties (such as houses and apartments) and commercial properties, such as office buildings and industrial properties. Apart from property sales, this market includes leases and the value of real estate.
Structure:The real estate market comprises residential and commercial real estate. The residential real estate market covers real estate transactions and leases, and residential real estate leases are divided into apartment and house leases.
Additional information:The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and real estate renters as well.
In-Scope
- Residential real estate (houses and apartments)
- Commercial real estate (office buildings, retail spaces, warehouses, industrial properties)
Out-Of-Scope
- Real estate agencies
- Construction companies
- Accommodation services, such as Airbnb
- Commercial real estate leases and transactions
- Publicly owned buildings used by the local government
- Buildings used for public health care services
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