Surveyor Lists Challenges In Real Estate Sector

A real estate practitioner, Mr Emma Wike, has identified some funding challenges the real estate sector of the economy has been ccontending with in the last few years.
Wike, who is also the second vice chairman of Nigeria Institution of Estate Surveyors and Valuers (NIESV) in a chat with The Tide, noted that regulatory and policy changes were some of the obstacles preventing in flow of funds into the real estate environment.
He noted in particular that investments from international investors had slowed down since Nigeria’s slip into recession.
The NIESV official, lamented that since the recession, foreign investors had shifted their attention to Eastern Europe.
He suggested that there is a dire need for players in the industry to look inwards for funding, given the structural and policy challenges the sector was dealing with and stressed, “let us not waste our energies chasing after foreign investors who would employ unprofessional tactics to get their way”.
He encouraged real estate investors to turn to local financial institutions, such as insurance companies, capital market, and pension funds to improve the real estate market.

Tonye Nria-Dappa