Entrepreneur sees bigger prospects in real estate market

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The Chairman, Millenium Group, Eze Munachino, says the Nigerian real estate market presents bigger prospects.

Munachino, who runs Nigeria’s leading real estate and general merchandise conglomerate, said the market had recorded exponential growth in recent times and was still expanding.

He, however, noted that while investing in real estate offered countless opportunities, including gaining financial prosperity and building wealth, there were many challenges that could limit an investor’s earning and capacity to invest. He noted that with a growing middle-class population, rapid urbanisation, and young demographics, Nigeria possessed all the key factors for real estate investment, regretting that financing and affordability had remained problems for developers and prospective homeowners.Explaining the dynamics of the sector, Munachino said though there were several ways to invest in real estate, they all depended on similar economic factors to earn profit.

For him, affordable housing should address the housing needs of the lower- or middle-income households.

 

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