Rising Property Prices in Nigeria: Inflation and Construction Costs to Blame – CEO, JustOne Homes

According to Punch Newspapers, the CEO of JustOne Homes, Taiwo Idowu, has shed light on the rising property prices in Nigeria. In an interview with the news outlet, Idowu pointed out that inflation and high construction costs are key factors driving up property prices. ‘Inflation is a major challenge’, Idowu said, explaining how it increases the cost of materials used in construction, thereby driving up property prices. The CEO also highlighted the growing demand for properties as another factor contributing to the upward trend. This development could have significant implications for Nigerians seeking affordable housing options, particularly in urban areas. JustOne Homes is a real estate firm based in Lagos, Nigeria.