Historically the exact property development market in Nigeria has been vibrant. Even so the current world economic slump did start to take restrain in September 2008, it drained the confidence coming from many investors and the market nose-dived considering the general economic climate. But with the signs of economic recovery beginning to adopt hold again, kent ridge hill residences what prospects are there for a resurgence in the commercial property area?

When industrial and commercial property prices reached your own low, it signaled a pair of things. Firstly that the market was severely depressed and was likely remain in that way for several years, but that the bottom of the trough ended up reached in which the greatest out, was up. With the market having stabilized at its new low, it meant how the glut of distressed properties that had been pouring in had stopped, and with the laws of supply and demand in operation, with the excess of supply far outstripping demand, prices remained depressed.

However, you will develop 12 months has seen the warning signs of recovery occurring in sector sector, along with property prices still artificially low, this 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 an illustration of the current optimistic outlook on life. With economic forecasts being positive, albeit slow-moving, and costs being under they are, now constitutes a time invest in. As confidence returns to the economy, the potential for new letting agreements is rising and properties are once again beginning to move, creating a slow but steady rise in prices and rates. Usually forecast until this trend continue slowly but surely, depleting the supply surplus which will eventually trigger a new bout of property development taking place.

Current thinking is this kind of may well lead a good industrial property boom in 2014/15. However with regarding 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 things end up being in place before actual construction can begin to are held.

All buying this has grown to be a very positive time for property development. Industrial property investors have every reason to get cautiously optimistic, as simple to medium term prospects are looking very positive, and this is the time to speculate and develop.