Experts explore real estate opportunities in Africa

Real estate and financial experts converged on Lagos at the weekend to explore investment opportunities in the African property sector.

The Blueprint Conference 2022, organised by Relive Housing, featured panel sessions and had the theme: Unlocking wealth: tapping into real estate in Africa (forecast and opportunities).

The convener and Chief Operating Officer of Relive Housing, Mojisola Afolayan, said the event focused on harnessing opportunities, learning and networking.

She said: “Most real estate conferences do not target first time home buyers or starters. We want to attend to those who have been failed by the existing real estate market.

“It’s all about encouraging people to climb the property ladder. That’s why Relive Housing is launching a cooperative society to help people save consistently and intentionally.

“We’re passionate about unlocking wealth through property investment. One of the options is to co-own a property through the Relive Pool, where you can own one per cent of a project.

“We have the Relive Pillow, where you own as much as 20 per cent of which five people can own an apartment.

“Our mission is to do one million housing units across Africa and our five-year target is to help 10,000 people own homes. Our projects are 20 per cent less current market prices.

“The Relive Housing project is not-for-profit. Coming through us means you will get discounted prices.”

The keynote speaker, Gbenga Olaniyan of Estate Links Limited, urged participants and real estate investors to carry out due diligence before buying any property.

He recalled how he lost huge sums of money while investing in a property abroad.

“You should not let your guard down. If you do your due diligence, you will lose less than the next person,” he said.

He said some of the factors that will affect property investment in Africa include housing deficit, rural-urban migration, high birth rate, a growing middle class and greater returns on investment.

Olaniyan noted funding issues create opportunities, adding that real estate value always adjusts to the naira movement.

“You need to continue researching. Even in a recession, there are many opportunities,” he told the participants.

IATA Regional Director, Advocacy and Strategic Relations, Africa, Funke Adeyemi, said owning land or property is one of the best security anyone can have.

She also emphasised the need for due diligence, saying: “Don’t take the word of the landowner. Check it out so that you don’t buy land that is subject to litigation or marked for demolition by the government.

“You’ve got to be intentional about investing in real estate. Co-ownership is an option. You need courage in the face of challenges. Believe that you can,” she said.

Relive Housing’s mission is to provide decent, good, quality, affordable homes and communities to people who have been inadequately served by the market.

The company added: “Our core aim is to create and sustain successful neighbourhoods by providing housing that’s accessible to people who cannot afford open market prices.”

Source:Thenationalonlineng