Stakeholders predicts a new beginning of growth in recessed sector of the economy as a result of the new tax regime and compelling trends in the real estate industry. Financial bill of 2019 is said to play a crucial role in the anticipated growth with the exemption of Small Medium Enterprises (SMEs) from tax.
They noted some economic steps that will drive the growth both on the supply and the demand sides. such as adoption of financial bill, policy of recapitalization of mortgage banks, etc. and also stressed for government involvement in policies that would make social housing affordable
Akaraiwe, said “The volatile, uncertain and complex nature of the economy will provide opportunities for investors who can make fast decisions to simplify and clarify the ambiguity in the environment”
Tayo Odunsi, foretell 2020 would present good returns with high demands for industrial and commercial real estate. The increase in demands, will lead to an improvement in construction activities and higher construction costs. He further states that, the activities and policies of the present government have significantly stimulated manufacturing activities which will lead to considerable growth in the industrial sector leading to demand warehousing and logistics facilities. He also spoke of the emergence of a class of Higher Earners but not Rich Yet (HENRYs), which will create a change of taste and requirements and more investment in property. This will be to the advantage of operational real estate having development and business income.