The demand for housing in Nigeria is projected to increase by 8% annually, reaching 30 million units by the end of 2025. Factors contributing to this growth include a 2.5% population growth rate, rapid urbanization, and a youthful population forming new households. The real estate market in urban hubs like Lagos and Abuja is forecasted to experience a 10-12% annual price increase, driven by land scarcity, strong demand, inflation, and rising construction costs, with interest rates expected to stabilize at around 15%.
The Lagos real estate market is set to experience significant growth, driven by urbanization, economic prospects, and diaspora investment. A 15% increase in property prices is forecasted by 2025, with a particular demand for affordable housing in areas like Ibeju-Lekki and Epe. Key developments such as Eko Atlantic City and the Lekki Free Trade Zone will play a crucial role, while high-end districts like Ikoyi, Victoria Island, and Lekki will remain popular for luxury projects and short-let properties.
In Ghana, infrastructure development and urbanization will drive growth in the real estate sector in 2025. The government’s strategic focus on roads, railways, and ports will improve accessibility, opening up new areas for development and investment. Notable projects include the Accra-Kumasi railway, Boankra Inland Port, and Tema Port expansion, which will drive economic growth, create employment opportunities, and increase demand for residential and commercial properties.
