Despite rising inflation and policies that have restricted growth and slowed down the economy, experts predict that the 2025 housing market will witness continued demand for affordable housing, driven by urbanisation and city population growth. They also foresee a rise in property value, albeit at a more subdued level. Key developments likely to shape the market include introducing...
The Lagos State Real Estate Regulatory Authority (LASRERA) has called for greater collaboration with stakeholders to check fraud and malpractices in the real estate sector. The Special Adviser to the Governor on Housing, Ms Barakat Odunuga-Bakare, who spoke ahead of its 5th Lagos Real Estate Market Place Conference and Exhibitions, which Governor Babajide Sanwo-Olu will host, emphasised...
The Royal Institution of Chartered Surveyors (RICS) Nigeria Group has elected Tayo Odunsi, former Chief Executive Officer of Northcourt Real Estate as its new chairman. The 60-year-old institution draws membership from built environment professionals such as estate surveyors and valuers, quantity surveyors, land surveyors, and project managers. Founded over 150 years ago in the United...
The Building Collapse Prevention Guild has recommended establishing construction laws to tackle building collapses in the country. A partner with the engineering unit at Consol Associates Ltd, Aderonke Oyelami, made the call during a BCPG Ikoyi-Obalende Cell event in Lagos recently. The presentation, titled “Ikoyi in Transition: From Highbrow Residential Scheme to Mixed...
In a bid to tackle Nigeria’s severe housing deficit and stimulate long-term economic growth, the Federal Executive Council (FEC) has approved N250 billion real estate investment fund aimed at providing affordable, long-term mortgages to Nigerians. The initiative was announced by the Minister of Finance, Wale Edun, on Thursday after a FEC meeting presided over by President Bola...
One of the new buzz words in real estate is "rightsizing". Rightsizing is about finding the right size home for where you are in your life - people are searching for the perfect space for their needs. This concept not only applies to your search for personal space, it's also a concept that is being applied to building and city planning. With an aging population, increasing density...
Lagos, often referred to as the commercial hub of Nigeria, is a vibrant city with a bustling real estate market. From the high-end properties in Ikoyi and Victoria Island to the more affordable neighborhoods in the mainland, Lagos offers a diverse range of real estate opportunities. But how well do you really know Lagos real estate? Let's explore some key aspects that define this...
Experts in the mortgage and housing sector of Nigeria’s economy have explained why access to mortgages remains a huge challenge to many home seekers, leading to a persisting housing shortage. According to the experts, the mortgage sector in Nigeria, which is a long-standing pillar for financing home ownership, is struggling under a growing burden of issues that have left many...
The Lagos State Government, under the leadership of Mr. Babajide Sanwo-Olu, will ensure that all ongoing housing projects are built to the best standard in terms of specification and will be completed during his tenure. The Hon. Moruf Akinderu-Fatai, the Commissioner for Housing reiterated this when he led the technical team of the Ministry on a tour of the ongoing LagosHOMS housing...
So you’ve seen your umpteenth Ad with the guy in his neatly pressed button-upped white T-Shirt grinning ear to ear waving his rock-solid no-money-down rags-to-riches real estate investment course for 3 easy payments of a gazillion Naira and now you are thinking, "wow this looks like a great deal, I better get it fast before the special offer expires." You notice how there’s...