Smart Deals & Strategic Investments.
2024 has largely been a seller’s market in Abuja real estate market. The luxury market in prime areas like Maitama, Asokoro, Guzape and Jabi continues to see strong demand, but an increasing number of buyers are becoming more selective, price-conscious. This is mainly because of rising construction costs, inflation and general poor economy of the country, making buyers more cautious and strategic with their investments.
For middle income buyers, neighborhoods like Lugbe, Karsana, Kubwa, Lokogoma, Galadimawa, Idu, and Lifecamp offer slightly more opportunities due to increased supply from new developments. However, these developments still don’t fully meet the growing demand for affordable housing. This imbalance creates opportunities for buyers who are quick to act on properties that are well-priced and offer good value.
In the commercial real estate market, buyers seeking office spaces in prime areas such as Garki and Wuse II may find some negotiation opportunities, especially for older or less modernized buildings. However, the high demand for commercial properties still gives sellers leverage in the more premium office space sector.
Data from Q1 and Q2 2024 shows that while there are opportunities for negotiation in some segments, especially in the mid-range market, buyers still face challenges such as limited access to affordable financing options, and competition remains fierce for high-demand properties.
In summary, while the Abuja real estate market generally favors sellers, savvy buyers in the mid-market and commercial sectors may find negotiation opportunities, especially in emerging areas or older properties. It’s a time for buyers to be strategic, informed, and ready to act when the right property comes along.
Caviar Realty offers a range of housing options, terraces, duplexes, luxury apartments etc. So contact us today to find your dream home.
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