Deciding to sell your home is a significant decision that involves many considerations, including whether to use a real estate agent or attempt to sell it on your own. While it might seem like a good way to save on commission fees, selling your home without professional help can lead to numerous pitfalls. Here’s a comprehensive look at some of the challenges and risks associated with...
A major concern for Real Estate professionals is personal safety. Many times you're working alone in showing a property or having an open house. Some personal safety precautions should include: On the first meeting of a client, have them meet you at the office. Get as much personal information as possible. If you have a strange feeling about the client, don’t show property by...
While "green" has become quite the buzzword when it comes to home building and design, what exactly it means isn't always clear. There are a few standards for eco-friendly homes, but the term "green" doesn't have a universal definition beyond being a color made by mixing yellow and blue. So how does a consumer know when a home the builder is calling "green" is actually built with an...
The Lagos State Government has made it mandatory for building owners in the state to install Close Circuit Television Cameras (CCTV) on buildings of six floors and above. The state Commissioner for Physical Planning and Urban Development, Dr Oluyinka Olumide, said this in a statement issued by the ministry’s Deputy Director of Public Affairs, Mr Mukaila Sanusi, on Tuesday. The commissioner...
The Federal Housing Authority FHA, has suspended all ongoing construction and development in its Estates in Lagos. A special public announcement released and signed by the management on Thursday directed that all forms of construction works within the FHA estates located in Festac town , Ipaja, Abesan , Isheri, Olofin and others is put to a halt forthwith.Therefore, all developers are...
The Minister of Housing and Urban Development, Ahmed Dangiwa, has urged foreign investors at the Saudi Real Estate Forum to seize the vast opportunities within Nigeria’s housing sector, particularly through the Federal Government’s Renewed Hope Cities and Estates Programme. This is according to a statement on Tuesday by the Special Assistant Media and Strategy to the Minister,...
The World Bank has forecasted that Nigeria’s economy will grow by 3.5 per cent in 2025 and rise slightly to 3.7 per cent in 2026. This projection, contained in the latest Global Economic Prospects report, reflects a modest recovery for the nation amidst persistent economic challenges and global uncertainties. According to the report, Nigeria’s economic growth improved to an...
The National Bureau of Statistics (NBS) has listed the real estate sector as the third-largest sub-sector in Nigeria’s economy, up from 5th position, following the recent GDP rebasing exercise According to data from the Nigerian Bureau of Statistics (NBS), the real estate sector contributed 5.20 per cent to the GDP in Q1 of 2024. The rebasing exercise has rearranged the hierarchy of...
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...