Analyst Wants Investments In Real Estate

A housing analyst with the Department of Estate Surveying, Niger Delta University (NDU), Dr Peter Zuokemefa has urged investors to take advantage of the current positive news about the nation’s economy being out of recession to invest in real estate.
Zuokemefa, who gave this charge in a chat with The Tide, Monday said, during the last five quarters in which the country experienced recession, the real estate sector of the economy suffered weakness in that its future prospects looked gloomy.
In view of that he explained, there is surplus of properties in the real estate market and stressed that investors could take advantage of the surplus and invest for greater returns in future.
He hailed the courage of developers who inspite of the economic down turn, kept the faith by inspiring confidence both in foreign and local investors, saying that “their perseverance has paid off and they would have bountiful returns on their investments”.
He noted that as interest is renewed in real estate, there will be employment opportunities, expressing the hope however, that the cost of rents would also reduce to make it affordable for the average worker.
He advised however, that developers should ensure that they implement building and town planning code in their buildings to prevent unfortunate incidents such as flooding and building collapse.

Tonye  Nria-Dappa