The Economics of Real Estate in Nigeria

Did you know that the average Nigerian worker needs 20 to 40 years of their income just to buy a house? They could save their entire salary without spending a kobo and still not have enough for a modest home? In this episode of #HumAngleIndex, we look at the skyrocketing prices of housing in the country and how it gets harder for citizens to afford them. ⏱️ TIMESTAMPS ⏱️ 0:00 — Nigeria housing crisis 0:40 — The Real estate market in Nigeria 1:15 — What it costs to build a house in Nigeria 1:50 — The housing deficit in Nigeria 2:30 — Housing supply vs demand 3:10 — Abuja housing crisis 3:45 — Why are there empty luxury homes in Nigeria 5:00 — Rent increase in Nigeria 5:40 — Why rent is expensive in Nigeria 6:20 — Construction costs in Nigeria 8:20 — Inflation impact on housing 9:10 — Housing regulation in Nigeria 10:00 — Mortgage system in Nigeria 10:40 — Construction workers in Nigeria 11:30 — Labour costs in Nigeria 12:20 — Dead capital Nigeria 13:10 — Housing inequality in Nigeria