In 2009, the sector suffered some hiccups as a result of the crisis in the banking sector.However before the end of the second quarter of 2010 a lot of activities would be recorded in the construction sub-sector of the economy.The real estate sector would bounce back as the New Year commences.
Mr.Kola Akomolede,a fellow of the Nigerian Institution of Estate Surveyors and Valuers(NIESV) said that the real estate sector would bounce back in the New Year but added a caveat that the growth of the sector would depend largely on the health of the banking sector.
According to the former National Publicity Secretary of NIESV, if the banks become healthy, then the possibility of their extending loans to developers would be there adding that the reason for this, is because real estate is capital intensive.
The Managing Director of Personal Trust Savings and Loans Limited, Mr.Anthiony Owuye was of the opinion,that the real estate sector could bouce back in the New Year if only the Federal Mortgage Bank of
Nigeria (FMBN) and other lending financial institutions could be up and doing by giving out loans at 'friendly' interest rates to developers who are desirous of building houses for the masses.
Other authorities in the sector says 2010 would definitely usher in good tidings for real estate adding that the rejuvenation of the banking sector would also affect construction in a more significant way. He said that unless something untoward happens there was no way that the sector would not thrive in the New Year. He added that over the years, real estate has been 'the bride of investors'.
(The banking Sector ??? !!)
(Seems to me, the predictions goes well for DEVELOPERS only..How about buyers &'renters' ? )
Mr.Kola Akomolede,a fellow of the Nigerian Institution of Estate Surveyors and Valuers(NIESV) said that the real estate sector would bounce back in the New Year but added a caveat that the growth of the sector would depend largely on the health of the banking sector.
According to the former National Publicity Secretary of NIESV, if the banks become healthy, then the possibility of their extending loans to developers would be there adding that the reason for this, is because real estate is capital intensive.
The Managing Director of Personal Trust Savings and Loans Limited, Mr.Anthiony Owuye was of the opinion,that the real estate sector could bouce back in the New Year if only the Federal Mortgage Bank of
Nigeria (FMBN) and other lending financial institutions could be up and doing by giving out loans at 'friendly' interest rates to developers who are desirous of building houses for the masses.
Other authorities in the sector says 2010 would definitely usher in good tidings for real estate adding that the rejuvenation of the banking sector would also affect construction in a more significant way. He said that unless something untoward happens there was no way that the sector would not thrive in the New Year. He added that over the years, real estate has been 'the bride of investors'.
(The banking Sector ??? !!)
(Seems to me, the predictions goes well for DEVELOPERS only..How about buyers &'renters' ? )
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