Historically the property development market in Nigeria has been vibrant. Coverage the current world economic slump started take be patient in September 2008, it drained the confidence associated with many investors and the nose-dived considering the general finances. But with the signs of economic recovery beginning to take hold again, what prospects are there for a resurgence in the economic property trade?

When industrial and commercial property prices reached a good solid low, it signaled to show your internet. Firstly that the market was severely depressed and was likely in which to stay that opportunity for several years, but that the bottom of the trough was in fact reached in which the best out, was up. Together with market having stabilized at its new low, it meant that the glut of distressed properties that were pouring in had stopped, and with the laws of supply and demand in operation, more than excess of supply far outstripping demand, prices remained depressed.

However, kent ridge hill residences showflat explored 12 months has seen the signs of recovery going on in sector sector, along with property prices still artificially low, it has begun to stimulate demand, as property development speculators are one again sensing the opportunity of making good short to medium term returns on new investments.

Office properties in particular are one among the current optimistic outlook. With economic forecasts being positive, albeit slow-moving, and costs being under they are, now is an effective time to order. As confidence returns to the economy, the potential for new letting agreements is booming and properties are once again beginning to move, introducing a slow but steady rise in prices and rates. Usually forecast that this trend continues slowly but surely, depleting the supply surplus which will eventually trigger a new bout of property development taking place.

Current thinking is this may well lead with regard to an industrial property boom in 2014/15. Of course with such a long gestation period a great deal of developments to arrive at final fruition, the process needs for kicked off now. Feasibility studies, surveys, finance – all of those things must be in place before actual construction can begin to show up.

All within all this is already a very positive time for property development. Industrial property investors have every reason become cautiously optimistic, as of course to medium term prospects are looking very positive, and the next step is to speculate and invest.