spyder880: The writer has not told us anything we dont already know, that big boys in Government are buying up Abuja and that poulation increase is driving up prices in Lagos plus the commerce there makes the city attractive for new settlers.

So, will our real estate market crash one day? It is very possible, especially when those factors holding it up are tampered with. Normal demand and supply economics.

lekkipro:
Right on point bro

doctokwus: Having studied d nigerian situation 4 sometime,av bn one of d regular critics of d nig real estate mkt,bc am convinced beyond any doubt dat its a grossly overpriced 1.My grouse is not however wt d overpricing,but bc d inflated prices are due to distortions in our body polity;specifically corruption,most pronounced amongts govt officials @all levels.Yes,real estate prices in abj,ph& lag wud not come cheap,but not @d astronomical prices dey go for now,& y is dis so?because,politicians wt astronomical,corruption induced wealth,& other govt officials in d military,paramilitary arms& ministries can& are ready to pay astronomical sums to buy up properties.Anoda instance is d case of Umuahia& some oda choice city areas,where its rumoured dat d gov or pple close to him are buyin up lands.Of course,owners of dese lands will inflate d costs,whc no mata what price,will b paid for.Thus,dis kind of high cost are not demand/supply related,but because somepeople av excess cash to throw around& bc of d average nigerian mentality,want to acquire as many properties as possible,many not needed or used,as a sign of having"arrived".Whether there will b a property crash is however difficult to say bc d corrupt wealth driving up d prices seems not to b abating,rather,its getting worse & more primitive by d day.