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Real Estate Trends On The Rise In 2023

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Real Estate Trends On The Rise In 2023

Since the real estate market is continuously changing, it is crucial for buyers and sellers to keep up with the most recent developments in order to make wise choices.

To start with, it is very much interesting to know that Nigeria’s capital market innovation raises the question of whether East African markets would exhibit similar trends in real estate innovation, considering how currency risks, the parallel dollar market, a severe lack of dollar liquidity, and the implementation of capital controls have continually placed a strain on retailers, corporate occupiers, developers, and investors in markets like Lagos, leading some important retailers, like Game stores in Nigeria, to pull out of the market.

As illustrated by recent moves by Purple Group IPO and Actis’s first West African income fund, this has also negatively hampered the capacity to sell assets in the traditional private equity model, unwittingly fueling the rise of the income fund structure and IPO listings in the market.

Even if these programs alone are only a means to a goal, they represent important innovation milestones for capital raising in any African market.

Demand will probably be more influenced by international geopolitics.

Global powers including the US, UK, South Korea, UAE, Saudi Arabia, Turkey, and China have all made fresh statements on their engagement with the continent, placing an emphasis on investments.

The US had initially committed US$200 billion in their Partnerships for Global Infrastructure Initiative, the UK has so far committed US$2 billion to Africa for sustainable investments, and the UAE-Africa non-oil trade has nearly doubled in the five years leading up to 2021, all of which point to a renewed focus on Africa.

As a consequence, these activities are probably going to increase the number of international companies that set up shop in the hub cities of Lagos, Nairobi, Cairo, Johannesburg, and Accra, which will increase demand for Grade A offices in particular.

Real Estate Trends On The Rise In 2023

The success of the office sector in many markets has remained uneven in 2022, and opinions on the performance of Grade A or Grade B offices vary depending on who you question.

The retail industry’s success has varied across the continent. On the one hand, retail sales in cities like Accra, Nairobi, Cairo, Casablanca, and Johannesburg saw increases of between 31% and 9% in 2022 as compared to 2021.

Anecdotal evidence, on the other hand, indicates that the performance of shopping malls has remained muted. It’s interesting to see that market positioning still remains the main factor influencing retail performance in important cities.

As an illustration, the Ikeja City Mall in Lagos reported that its operational profit for the first half of the year will rise from $9.5 million in 2021 to $10.5 million in 2022. This, among other things, may be directly ascribed to its position, which has caused it to stand out as a performer.

Real Estate Trends On The Rise In 2023

Public and business sectors have both been leading the way in adopting green technologies.

Perhaps the most noteworthy government endeavor to promote “green affordability” is Cairo’s Capital Garden City development plan. The project includes over 25,000 housing units being built as part of the “Green Housing” effort, which aims to increase water and energy efficiency.

With substantial advancements being made in green building regulations and its aim to Net Zero by 2060, Nigeria currently has little green building activity, ranking second behind Kenya at 64% on the matrix in terms of adoption potential.

Data centers and affordable housing will be the two alternative industries to pay close attention to.

Affordable housing is regaining popularity throughout the continent despite being rarely considered as an asset class. While governments in Kenya, Zambia, Nigeria, and Egypt have helped to guide this trend, the dilemma of a glaring housing shortfall is expected to spark institutional investors’ interest.

With all said, here are some trends in real estate to consider in 2023:

Demand for larger workspaces driven by remote work: As more individuals work from home, there is a growing need for homes that include separate workspaces. In suburban regions, where purchasers are searching for homes with increased square footage and bigger yards, this tendency is particularly pronounced.

Low mortgage rates are boosting house demand: Due to the present low mortgage rates, purchasers can now afford to buy homes, therefore, increasing market demand. As the Federal Reserve has stated that it intends to maintain interest rates low to help the economy, this trend is anticipated to continue in the upcoming year.

Green and sustainable housing is becoming more popular: There is a rising desire for homes that are constructed with sustainable materials and equipped with energy-efficient equipment as environmental concerns gain importance.

As more individuals become aware of the advantages of living in an environmentally friendly house, this trend is expected to continue in the upcoming year.

More and more houses are being designed with smart features, such as automatic lighting, thermostats, and security systems, as a result of the growing popularity of smart home technology. As more purchasers opt for homes with the newest technology, this trend is probably going to persist over the next 12 months.

Overall, a solid real estate market is anticipated in the upcoming year because of low mortgage rates, rising housing demand, and rising interest in urban living and environmentally friendly homes, which are very much the trends to look out for. Buyers and sellers may make wiser judgments regarding their real estate investments by keeping up with these trends.

 

 

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Amazon raises Music Unlimited prices

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Amazon has announced that it will increase the prices of its Music Unlimited streaming service in the US and the UK on February 21st.

According to a statement on the company’s support page, the Amazon Music Unlimited Individual Plan will increase from $9.99 to $10.99 per month, while the student plan will change from $4.99 to $5.99 per month.

The Family Plan and Single-Device Plan will remain unchanged.

This marks the second time in eight months that Amazon has raised its prices, with a previous increase having occurred in May.

The move comes amid a cost-cutting spree from Amazon, which has included the closure of its charity donation program and the laying off of 18,000 employees.

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UK climate accelerator in Nigeria, calls for proposals

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The UK Government-funded Climate Finance Accelerator (CFA) Nigeria has issued a call for proposals to mobilize funding for addressing the urgent climate crisis in the country.

The CFA Nigeria is a climate finance platform designed to specifically address the urgency and scale of the climate crisis in Nigeria by generating funding for the country’s transition to a resilient, low-carbon economy.

The private sector has the potential to play a significant role in meeting Nigeria’s climate change commitments, and the CFA aims to provide support to low-carbon projects to increase their chances of securing investment.

The CFA is a public-private initiative that offers substantial value to project developers, financial institutions, and the Federal Government of Nigeria, and it aims to improve the bankability of projects and public-private partnerships.

The platform also seeks to identify policy, regulatory, and fiscal interventions to enable greater flows of finance and build understanding and awareness of the climate finance supply chain between businesses and the government.

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How Genomics Will Take Over 2023

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How Genomics Will Take Over 2023

The field of genomics studies the genome, which is the whole collection of genetic material that constitutes an organism. Recent advancements in bioinformatics and DNA sequencing technology have allowed for an unparalleled degree of genomic analysis and comprehension, which has resulted in this field’s fast expansion and development.

The potential of genomics to advance healthcare is one of its most intriguing features. By studying the genetic foundation of illnesses, scientists may design novel treatments and therapies that are customized to the particular requirements of individual patients.

For instance, the discovery of genetic abnormalities linked to certain forms of cancer by researchers has sparked the creation of tailored medicines that are more potent and less harmful than conventional chemotherapy.

Genomics is a powerful tool for understanding the underlying causes of disease and for developing new treatments. It has the potential to transform healthcare and improve the lives of millions of people.” According to the words of Dr. Eric Topol, Professor of Molecular Medicine at The Scripps Research Institute

How Genomics Will Take Over 2023

Agriculture is another industry where genetics is having a huge influence. Scientists can pinpoint the genes responsible for desirable features like disease resistance and high production by studying the genomes of crops. Using this knowledge, new crop types that are more productive and resistant to pests and changing weather conditions may be created.

The study of genomics is also significantly influencing how we perceive evolution and the variety of life. The evolutionary history of several groups of species may be traced and the links between them can be reconstructed by comparing the genomes of various creatures. The mechanisms that have shaped the variety of life as we know it now and the history of life on Earth have been better understood as a result.

However, genomics also raises certain ethical and legal issues. People may be treated differently based on their genetic composition, which presents privacy and discrimination issues as genetic information becomes more widely available.

The use of genetic data for non-medical reasons, such as genetic profiling or genetic engineering, also worries some individuals.

Healthcare, agriculture, and our knowledge of life on Earth might all be revolutionized by genomics, a fast growing science. Although technology offers many exciting potential, there are also significant moral and legal issues that need to be resolved.

In recent years, the area of genomics has already experienced fast growth, and this trend is predicted to continue until 2023 and beyond. In 2023, genomics may become popular in the following ways:

Individualized medicine In 2023, genomics will probably be used more often in customized medicine.

Medical professionals will be able to customize treatments and therapies to meet the unique requirements of individual patients as more genetic information becomes available, leading to more effective and efficient healthcare.

How Genomics Will Take Over 2023

3D DNA strand with vibrant colors for genetics background

Advanced genetic testing: Complex genetic testing, including whole-genome sequencing, will be available because to developments in DNA sequencing technology. This will make it possible for medical professionals to recognize genetic abnormalities and variations that are linked to certain diseases, enabling earlier diagnosis and more focused therapies.

Gene therapy: In order to cure genetic flaws, a potential new field of medicine called gene therapy involves inserting new genetic material into cells. More gene therapy therapies are anticipated to be licensed and made widely accessible in 2023, giving patients with hereditary illnesses who have no known treatments hope.

Genomic data analytics: New tools for evaluating and interpreting genetic data will be created when this data becomes more widely available. Researchers will then be able to find new targets for medication development and gain a deeper understanding of the genetic underpinnings of illness.

Consumer genomics: Genetic testing has become more affordable, increasing its accessibility to the general population. Consumer genomics, in which people can access their own genetic data and use it to make decisions about their health and wellbeing, will grow as a result of this.

In conclusion, genomics will likely become popular in 2023 as developments in science, technology, and medicine make it feasible to use genetic information to better understand, diagnose, and treat illnesses. Numerous people’s quality of life will continue to rise thanks to the science of genetics.

 

 

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