The property market in Nigeria has experienced significant growth in recent years, driven by a number of factors such as urbanization, population growth, and increasing foreign investment. One of the key drivers of this growth is the demand for residential and commercial properties in major cities like Lagos, Abuja, and Port Harcourt.

For example, in Lagos, the demand for high-end residential properties in areas like Ikoyi and Victoria Island has led to a surge in property prices. Similarly, the demand for office space in Abuja, as it continues to develop as a business hub, has also contributed to the growth of the property market.

Foreign investment has also played a significant role in the booming property market in Nigeria. Investors from countries like China, the United Arab Emirates, and the United States have shown a keen interest in the Nigerian property market, leading to the development of luxury hotels, shopping malls, and residential complexes.

References:

• PwC Nigeria Real Estate Report 2018
• Bloomberg - Nigeria's Property Market is Recovering After Recession