Experts disagree on effect of exchange rate on real estate sector
The CEO of Financial Derivatives Company Limited thinks the exchange rate will impact Nigeria's real estate sector, while the CEO of Bode Adediji and Co disagrees.
Exchange rate
According to the CEO of the Financial Derivatives Company Limited, Mr. Bismarck Rewane, who spoke on the “Role of the Real Estate Sector in Reshaping the Economy”, things will get better.
“Private investors have adopted wait and see position as the CBN may likely expand the forex trading band before the Monetary Policy Committee meeting in March to N185-N220, which will reduce cost of building materials,” he predicted.
However, the CEO of Bode Adediji and Co, Mr. Bode Adediji, a real estate firm, disagreed.
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The Nation reports that Adediji thinks the real estate market, especially residential properties, will suffer the most.
“In any economy, a period of mass disengagement of staff is always followed by a prolonged property crisis. Those laid off will default in rent payments,” he said.
Personally, i think Adediji is right.
If the value of naira continues to fall, people will struggle to buy or pay for things, including rent.
What do you think?
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