Most Expensive place to build Real Estate in Africa is Lagos - EneNaija Media

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Most Expensive place to build Real Estate in Africa is Lagos

Bruce Haswell, Director Turner & Townsend, Austria, has ranked Lagos State the most expensive city in Africa for the development of real estate. He gave this remark while speaking at the 2022 Real Estate Discussions and Awards by Thinkmint Nigeria held in Lagos on Friday,

Haswell words: “The costs of building in Lagos highlights the enormous pressures facing construction markets and the impact they are having on construction costs,” “In our 2021 survey, there were 11 markets that were expected to have construction cost inflation of ten per cent or more in 2021.

In our 2022 survey results, there are 38 markets that suggested they experienced inflation of ten per cent or more. Rising building material costs have been one of the key drivers of higher construction cost inflation over the last 12 months. Global supply-chain disruptions, high commodity prices, higher shipping costs, and supply shortages have caused this strong price growth

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