'Nigeria, India are set to become major players in luxury world,' says real estate firm

CBRE Group is predicting a bright future for Nigeria and India in the luxury real estate business.

Luxury home in Nigeria

CBRE Group is predicting a bright future for Nigeria and India in the luxury real estate business.

According to a new report by the commercial real estate services adviser, Lagos in Nigeria and Mumbai in India are already beginning to make their presence known to luxury brands.

“It is imperative that retailers ensure that the retail experience resonates with consumers and makes them want to continue to engage with the brand.”

Titled “Global Luxury Retail: A Divergent Market”, the report shows a 50% increase in the amount spent by Nigerian tourists in London last year as compared to 2013.

In fact, a September report by A.T. Kearney called Africa, as a whole, the “next big thing."

Do you think Lagos, Nigeria, is the “next big thing" in the luxury real estate business?

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