Elsewhere, the strength of a country's stock market mirrors the state of its economy. But for Nigeria, this may just be a theoretical statement as developments in the Nigerian Stock Exchange (NSE) are yet to impact on the prices of properties.
While market analysts expect property prices to come down in response to falling share prices, BusinessDay investigations revealed that on the contrary, property prices are rather increasing.
Emmanuel Abolo, chief economist/head market risk management, Access Bank plc, agree that there is a correlation between the stock market and other sectors of the economy.
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