This impact is, in more ways, defining the economy of the sector in the first quarter of 2024 as more renters groan under the weight of price increase in the real estate market forcing individuals, households and businesses to face uncertainty.
The meteoric rise in foreign exchange rate to N1450/$ was a major negative development for the real estate sector as it affected supply chain significantly and price of reinforcements have also forced contractors and property buyers to renegotiate the bids of contractual agreement.
