Operators in the real estate sector have expressed their apprehensions that the removal of petrol subsidies would exacerbate the country’s housing deficit. He said, “The removal of fuel subsidies can have significant implications for the real estate market. This can result in higher operating expenses for businesses, potentially reducing their ability to expand or invest in new real estate ventures. “Another significant impact of removing fuel subsidies is the potential shift in demand for real estate. He noted that government interventions or supportive measures could help mitigate any adverse effects and ensure a smoother transition for both the real estate market and the overall economy.

Source: Punch June 12, 2023 09:36 UTC