If you are new around here, we’ve been hosting monthly webinars featuring real estate stakeholders who have long-term experience in the industry across West Africa.
Earlier this month, we hosted the March edition of the webinar. It was titled “Nigeria Real Estate Outlook for 2021: Risks and Opportunities”. We hosted Ben Llewellyn-Jones, Chinwe Ajene-Sagna, Kunle Osilaja as speakers who discussed the risks and opportunities that exist in the Nigerian real estate industry in 2021. In case you missed it, here are some key takeaways.
Risks in the Real Estate Market
The sector that was hardest hit in the past year was the hospitality industry, particularly hotels, as there was a 70% drop in hotel investments globally. This stemmed from the global travel restrictions, making it difficult for people to leave their countries and use the services that hotels offer.
As the world finds ways to adjust to the events of last year, the hospitality sector may take a while to recover from the losses they have experienced, hence investing in this sector can be quite risky.
Opportunities in the Healthcare Industry
Regardless of the challenges that we all experienced in 2020 – some of which spilled over into 2021, certain industries were not as gravely affected as others and one of such is the healthcare industry.
This includes real estate in healthcare. There is an increase in the need for hospitals and care centers, so investing in this type of real estate is bound to yield great results. As opposed to hospitality real estate that experienced a 70% drop in investment in 2020, for healthcare, the reverse was the case as this industry experienced a 69% spike in investments, globally.
Warehousing is a Viable Choice for Investments
Logistics, warehousing, especially interstate warehousing are real estate options that became much popular in the past year. With more people shopping online, there has been a rise in the need for such structures. Also, the scarcity of such services makes it a very viable opportunity for those looking to invest in real estate.
Lower and Middle Income Housing
Real estate that will cater to the housing needs of Nigerians who fall in the lower and mid-income range is expected to be a hotspot for real estate investors. This is a sector of the industry in Nigeria that is still gaining traction and has shown significant promise, particularly in Lagos.
At Seso Global, we handle every aspect of real estate investments; providing insights on the best ways to navigate the real estate market in the various countries we are present.
Get in touch if you would like more insights into the current status and the future outlook of the Real Estate industry.
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