The Chief Executive Officer of Casafina Development Company, Dr Seyi Olufemi, has advised investors to invest in prime property to weather the challenges of inflation and the devaluation of the naira. He stated that on Friday, during a press briefing at the public presentation and launch of Greystone Residence in Maryland, Lagos. Nigeria’s inflation stood at 33.
95 per cent in May, according to recent data from the National Bureau of Statistics, while the naira has surged from 450/$ in May 2023 to over 1,450/$ in official markets. However, Dr Olufemi suggested that to combat these two economic challenges, investors should focus on real estate, as it has proven to be one of the most reliable assets in the current economic climate. He said, “We know that overall, the economy is a bit stressed.
We also know that this stress will come to an end. Those who understand the values of prime real estate understand the values we are bringing to the table. “But more importantly, when things are down, inflation is very high and devaluation is affecting every form of asset; there are three assets that will withstand these headwinds.
“These are commodities, equities, and real estate. For the serving investors, this is time to go for prime property to edge against these headwinds.” Related News Firm unveils real estate investment platform How to protect your savings from inflation with real estate Govt agencies urged to embrace global best practices Meanwhile, he noted that the 64-u.
