What the Abuja-Kaduna Rail Project Means to the Nigerian Property Market.

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The Nigerian Railway Corporation (NRC) tested the passenger coaches on the Abuja-Kaduna railway line last week. The actual flag off is expected in a couple of weeks’ time at N900 for business class and N600 for standard class, the Managing Director, Mr. Fidet Okhiria.
Starting from from Idu Rail Station, Abuja at 8:27 am, traversing Kuchibon, Asham, Jere, Gidam, Dutse and Kaku stations, the test ride ended at Rigasa, Kaduna at 12:45pm on Wednesday.

Once the full operations start, travellers between Abuja and Kaduna will only need
an hour to do the trip that currently gulps over 2 hours. What this means? The Kaduna property market is ripe for a price revival.

“People can now live in Kaduna and work in Abuja,”

At present, asking rent for a normal 3-bedroom flat in Kaduna is between N300, 000 and N500, 000 per annum on the average depending on the location, while in Abuja, it is about N1million. We should expect an influx in the population as many will prefer to reduce their rent expense and therefore relocate to Kaduna while they still work in Abuja.

Ultimately, the forces of demand and supply will push the Kaduna property prices up some notch.

Sourced- Castles

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