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Nigeria’s housing market stabilizing, amidst improving economic conditions

After three years of house price falls, Nigeria’s property market is now stabilizing, mainly driven by improving economic conditions. House prices were almost unchanged, amidst steady demand.

“The residential real estate market in 2018 was without significant changes in prices compared to the previous year,” said Nigeria-based online real estate firm, PropertyPro.ng.

However, this masks local house price movements. Ikoyi, the most affluent neighborhood of Lagos, registered the highest y-o-y house price growth of 20% in May 2019, followed by Ibeju Lekki, with annual price increase of 12%, based on figures from the Nigeria Property Centre. House prices in LekkiAjahGbagadaSurulere, and Yaba were largely steady.

On the other hand, Ikorodu saw the biggest decline in house prices of 25% during the year to May 2019, followed by Ikeja (-16.7%), Alimosho (-10.7%), Isolo (-9.1%), and Victoria Island (-8.7%).

Lagos is the most expensive city in Africa. In Ikoyi, the average price of three-bedroom apartments was NGN 140 million (US$388,906) in H2 2018 while five-bedroom apartments are sold for an average price of NGN 350 million (US$972,266).

In other popular areas outside Lagos:

  • Abuja, the capital city of Nigeria, is experiencing increasing interest from both local and foreign investors. In Maitama, an upscale neighborhood in Abuja, the average price of four-bedroom apartments was NGN 213 million (US$591,693) while five-bedroom apartments were sold for NGN 350 million (US$972,266) in H2 2018.
  • In Rivers, the average prices of three- and five-bedroom apartments were NGN 40 million (US$111,116) and NGN 75 million (US$208,343), respectively.
  • In Oyo, the average prices of three- and five-bedroom apartments were NGN 13 million (US$36,113) and NGN 40 million (US$111,116), respectively.
  • In Ogun, the average price of three-bedroom apartments stood at NGN 11.5 million (US$31,946) while it was NGN 30 million (US$83,337) for five-bedroom apartments.

 

The housing market will continue to stabilize this year, with house prices and residential rents expected to either remain stable or rise modestly this year, according to local property experts.

In 2018, Nigeria’s economy expanded by 1.9% in 2018, an improvement from a minuscule growth of 0.8% in 2017 and a contraction of 1.6% in 2016, buoyed by improvements in manufacturing and services, supported by the continued recovery in the oil sector, according to the International Monetary Fund (IMF). The economy is projected to improve further, with growth forecasts of 2.1% this year and 2.5% in 2020, based on IMF estimates. But the Central Bank of Nigeria is more optimistic, projecting a 3% growth this year.

AVERAGE PRICES OF 4-BR HOUSES IN LAGOS, MAY 2019

  NGN USD* Y-O-Y CHANGE (%)
Ikoyi 240,000,000 666,697 20.0
Ibeju Lekki 28,000,000 77,781 12.0
Lekki 55,000,000 152,785 0.0
Ajah 45,000,000 125,006 0.0
Gbagada 50,000,000 138,895 0.0
Surulere 55,000,000 152,785 0.0
Yaba 65,000,000 180,564 0.0
Victoria Island 105,000,000 291,680 -8.7
Isolo 50,000,000 138,895 -9.1
Alimosho 25,000,000 69,448 -10.7
Ikeja 75,000,000 208,343 -16.7
Ikorodu 15,000,000 41,669 -25.0
*Exchange rate: NGN 360 = USD 1
Sources: Nigeria Property Centre, Global Property Guide

Foreign homeownership rules

Foreigners can obtain leases from the State for a maximum of 99 years for the use of land.

A peculiarity about purchase of property in Nigeria, particularly in Lagos, is the Consent Fee. The Land Use Act of 1978 converted all land to State Land. Therefore, land cannot be owned privately. Formally, the  state government is the owner of land and therefore any change in ownership or assignment, in case of a lease, should have the consent of the Governor. The consent of the Governor of the State is needed for the assignment of title to use, occupy, and improve property with a statutory certificate. This certificate does not include rights to sell, give, or sub-let, which requires further consent from the State Governor.

 

Sale of real estate does not involve actual selling and purchasing. There is only the transfer of rights from one person to another. This transaction is usually called an ‘assignment’. The seller assigns the rights to use and occupy the land to the buyer. After the transaction, the buyer applies for a new (statutory) certificate under his name. In this case, the seller acts as the assigner, and the buyer is the assignee.

In sum, before purchasing, it is important to make sure that consent from the Governor is obtained for the sale. No land can be "sold" without this consent.

Land price variations

Ikoyi, Lagos, one of the most prestigious office destinations in Nigeria, had the highest land prices at NGN 400,000 (US$1,111) per square metre (sq. m.) in H2 2018, according to PropertyPro.ng.

In Victoria Island, considered the commercial business district of Lagos, land prices averaged NGN 200,000 (US$556) per sq. m. In Ikeja, the state capital of Lagos, the average land price stood at NGN 113,000 (US$314) per sq. m. in H2 2018.

Nigeria land prices

Other areas in Lagos have relatively cheaper land prices, ranging from NGN 52,000 (US$ 144) per sq. m. in Surulere to as low as NGN 6,000 (US$ 17) per sq. m. in Ikorodu.

Africa´s most ambitious real estate development ever!

Eko Atlantic City is one of the most ambitious real estate development projects ever undertaken in Africa - a megacity that will provide new homes for 250,000 people and office space for another 150,000 people, simultaneously protecting the coastline and solving Lagos´ chronic shortage of quality housing.

It is being constructed on land reclaimed from the ocean adjoining Lagos´ Victoria Island district and the Phase 1 area of Lekki, and covers around 10 million square metres (10 square kilometres).

Nigeria residential constructions

It is planned to have a positive environmental impact, as it will help stop the erosion of Lagos State´s coastline, though there are criticisms, with some alleging that construction is encouraging storm surges. Private companies and investors are providing the funding, while Lagos State Government is a strategic partner, with the support of the Federal Government.

Land prices in Eko Atlantic have nearly doubled since construction began in 2008. Currently, they are about 40% more than the land values in its close neighborhoods.

Other residential property developments in the country include the following (according to PropertyPro.ng):

 
  • 4 Bourdillon – a 25-storey twin towers that is set to become the tallest residential building on the shores of Lagos. Located in one of Ikoyi´s most prestigious location, Bourdillon Road, Infinite Towers is set to offer 41 units of duplex flats and duplex penthouses. The development is expected to be ready for occupancy this year.
  • The Benmonte – a 20-floor luxury residential development located at 40 Bourdillon Road in Ikoyi, Lagos, offering a mix of apartments, duplexes and penhouses.
  • Overlook Condominiums – a luxury American style condominium development situated between the prominent Ikoyi Club Golf Course and the Lagos Polo Club. It comprises of 31 luxury condos, including 2 and 3 bedroom flats and 3 bedroom duplexes.
  • Seattle Court – a 6-storey prime residential waterfront development in the diplomatic enclave of Walter Carrington, Victoria Island. The development offers 24 luxury apartments.

Yields in Lagos are moderate

The average yield on Lagos Mainland residential property is around 4.30% per annum, while the average yield on Lagos Island is around 3.64% per annum, according to the Residential Auctions Company (RAC). Yields have generally been significantly higher on the Lagos Mainland except in 2010, when Lagos Island yields were marginally higher.

That´s because Lagos Island has seen stronger rises in prices than Lagos Mainland, with surging demand for luxury houses.

In Ikoyi, Lagos, the average rent for a four-bedroom apartment was NGN 9.5 million (US$ 26,390) annually in 2018, according to PropertyPro.ng.

In Victoria Island, four-bedroom apartments are offered for about NGN 5.5 million (US$ 15,278) per year while in Ikeja a similar property is rented for NGN 3.5 million (US$ 9,723).

Interest rates remain unsustainably high

In May 2019, the Central Bank of Nigeria held its benchmark interest rate at 13.5%, after a surprise 50 basis point cut in March 2019, in a bid to stimulate economic growth. The key rate has been held at 14% from July 2016 to February 2019 to support the naira and curb inflation.

The prime lending rate remains high at 18.23% in April 2019, up from 17.24% in the same period last year.

Nigeria interest rates

Prime lending rates for mortgage loans ranged from 14% to 36.5% in April 2019, based on a survey conducted by the central bank.

"Such high rates are not sustainable for real estate development where the gestation period in most cases is at least two years before any rental revenues start to accrue," said MCO Real Estate.

AVERATE MORTGAGE RATES (%), APRIL 2019

Banks Prime (%) Max (%)
Access Bank 14.00 29.00
Citi Bank Nigeria 16.00 22.00
Coronation Merchant Bank 19.10 19.50
Diamond Bank 20.00 23.00
Ecobank Nigeria 19.00 28.00
Fidelity Bank 19.00 36.00
First Bank of Nigeria 20.00 27.00
Merchant Bank 14.85 20.00
Guaranty Trust Bank 18.00 23.00
Heritage Bank 27.00 30.00
Keystone Bank Ltd 19.00 34.00
Providus Bank 22.00 25.00
Rand Mechant Bank Nigeria Ltd 20.95 20.95
Polaris Bank 28.00 34.00
Stanbic IBTC Bank 17.44 28.00
Standard Chartered Bank 20.00 25.00
Sterling Bank 24.00 30.00
SunTrust 22.00 30.00
Union Bank 24.50 36.50
United Bank for Africa 24.00 29.00
Unity Bank 24.00 32.00
Wema Bank 29.00 30.00
Zenith Bank 17.00 26.00
Source: Central Bank of Nigeria

Acute housing deficit

Nigeria has limited lots under formal title and even quality housing can often not be mortgaged, so that the formal housing market serves only the minority, according to Centre for Affordable Housing Finance in Africa (CAHF).

Nigeria´s housing deficit has worsened over the past three decades, and the housing deficit is now at least 17 million, up from 14 million in 2010, 12 million in 2007 and 7 million in 1991. Based on a World Bank report published last July 2018, the country needs about 700,000 additional units each year for the next 20 years to keep up with growing population and urban migration. However housing construction is now only about 100,000 units per year.

 

In Lagos, Nigeria´s largest urban area, about 70% of the total population currently lives in informal housing and slums, based on figures from Lagos State authorities. The housing deficit in Lagos is estimated to be around 2.5 million units. In major centres such as Lagos, Abuja, Ibadan and Kano housing demand is growing at about 20% per year.

To abate the situation, the Lagos State Government plans to build 187,000 housing units every year over the next five years. In 2016, the Lagos State Government began implementing its Rent-To-Own programme in five estates built under the Lagos Home Ownership Mortgage Scheme: the Sir Michael Otedola Housing Estate, Odoragunshin, Epe; CHOIS City, Agbowa; Oba Adegboruwa Estate Igbogbo, Ikorodu; Alhaja Adetoun Mustapha Estate, Ojokoro; and Hon. Olaitan Mustapha Estate, Ojokoro.

Moreover, the government is looking at the possibilities for partnering with private real estate developers. "When the private sector is involved and a conducive environment is there, necessary laws that will encourage housing development, I can assure you that the job will be easy for us to do," said real estate consultant Barrister Festus Adebayo.

Challenges facing the property market

Three main structural challenges face Nigeria´s property market:

1. Property registration is expensive. Land titles are prone to political interference because of the vast powers of governors over state land allocation.Bottlenecks inevitably arise in the property transfer system due to Nigeria´s federal structure.

Another hindrance is that 65% to 70% of land is still held under customary title. Even in areas where title deeds are more common, there can be difficulties in clarifying who actually holds title to the land. This title uncertainty often means endless challenges in court.

Nigeria is among the worst globally when it comes to registering property, according to the World Bank’s Doing Business 2019 report, which ranks it at 184th out of 190 countries. In Lagos, the registration process can last an average of 105 days, taking an average of 12 procedures, and costing about 11.1% of the value of the property. Likewise, Nigeria also lags in terms of dealing with construction permits, which ranks at 149th out of 190 countries, according to the same report.

Neighboring Ghana only requires 6 procedures, 47 days and 6.1% of the property value. The cost of registering property in Nigeria is about 70% higher than the average for Sub-Saharan Africa and almost three times the OECD average. In South Africa, similar land registrations are completed in much shorter times and cost only 7.8% of the property value.

2. Housing construction handicapped by high costs. Building a house is very expensive in Nigeria. A three-bedroom house, for example, will cost about US$50,000, compared to US$36,000 in South Africa and US$26,000 in India, according to Finance Minister Ngozi Okonjo-Iweala.

The cost of construction is high for three reasons: high costs of building materials, high skilled labour costs, and costs associated with poor roads and sewerage systems.

About 75% of dwellings in Nigeria´s urban areas are built of concrete. Cement prices in Nigeria are about 30-40% higher than in neighboring countries and world market prices. The lack of public infrastructure adds as much as 30% to the total costs of the development.

3. Few can access mortgage finance. Only about 5% of the 13.7 million housing units in Nigeria are financed with a mortgage, and the mortgage debt to GDP ratio is only about 1%, and mortgage loans account to less than 1% of commercial banks´ total assets (specialist mortgage banks accounted for about 57% share of the market, according to the Central Bank of Nigeria).

Surprisingly, only 2% of Nigerians over 15 years old have a loan from a financial institution, and a meagre 0.6% have an outstanding loan for home purchase. Loans for home construction are more common, although still miniscule, at 1.7% overall, according to World Bank’s Global Financial Inclusion (Global Findex) Database. Though the government set financial inclusion as a key pillar of its ´Financial System Strategy 2020´, the challenges are huge, including low literacy, high interest rates, rising inflation, and high poverty.

The Federal Mortgage Bank of Nigeria (FMBN) manages a National Housing Fund financed mostly by contributions from public sector workers. In 2016, the FMBN introduced a scheme offering a housing loan up to NGN15 million (US$48,900) to all interested Nigerians. However, before one can qualify, the borrower must make monthly contributions over a period of six months and make a downpayment of 15% of the value of the property.

Housing development agencies in various state governments have had very limited impact.

"The ecosystem for residential investment development still remains relatively broken. The lack of affordable mortgages is a major challenge, a major deterrent, a major hindrance to the development of residential properties in this market," said Michael Chu´di Ejekam, Director of Nigerian Real Estate at Actis, a London-based private equity firm.

Insurgencies have hit the north´s property market

The Islamist insurgency in Nigeria started in 1999 with the establishment of Sharia law in several Muslim-majority states in the north. Tensions between Christians and Muslims have resulted in thousands of killings, with deaths sharply increasing in recent years as conflict between the Islamic group Boko Haram and the secular government continues to grow.

Terrorist activities and insurgency have scaled up in recent times - as seen in the abduction of 110 high school students in the northeast town of Dapchi in February 2018. According to the UNICEF, Boko Haram has kidnapped more than 1,000 children in northeastern Nigeria since 2013.

The Muslim-Christian clashes have hit Northern Nigeria´s property market. Many residents in widely attacked areas and known terrorist hotspots (like Maiduguri, the Borno State capital, Yobe and Adamwa) have fled to other parts of the northern region, while some have left the region for good.

Fighting escalated in late 2014, with Boko Haram militants attacking and seizing several northern Nigerian towns. The militants seized control of Bama in late 2014, attacked the towns of Baga and Maiduguri in January 2015, captured Gwoza in March 2015 and Sambisa forest in April 2015, and raided three villages in Borno in July 2015.

"Unarguably, people are moving down south. The insurgency is really affecting the construction industry negatively," said Fred Akinloye, former chairman of Nigerian Institution of Estate Surveyors and Valuers (NIESV) Kano State Chapter. "Property values have gone down considerably because demand is very low."

"The [property] vacancy rate is as high as 30 percent in Yobe, Adamawa, Borno, Katsina and Kano," according to online newspaper BusinessDay.

Since 2009, the insurgency has killed more than 15,000 people and forced around 2 million people from their homes. Though the government has already retaken most areas held by the group, including its stronghold Camp Zero in Sambisa forest, violent encounters and suicide bombings have actually increased recently. In fact, an estimated 4.4 million people in northeast Nigeria are currently in need of food assistance, medical care, and shelter, according to Ertharin Cousin, the executive director of World Food Programme (WFP).

Efforts to spur housing sector

Nigeria´s property market, especially the Lagos market, has been improving in terms of transparency and ease of doing business, accoring to Jones Lang LaSalle´s Global Real Estate Transparency Index, In 2018, Nigeria ranked 67th among 100 markets, up 16 notches from 83rd in 2016.

A National Housing Policy was adopted in December 2011 to ensure that all "Nigerians own or have access to decent, safe and sanitary housing in healthy environment with infrastructural services at affordable cost, with secure tenure." Separate chapters deal with land for housing, housing finance, housing maintenance, building materials and construction workforce, social housing, and management information systems.

In 2012, then President Goodluck Jonathan convened a Roundtable on the Housing Sector which brought together key stakeholders. The Nigeria Mortgage Re-finance Company (NMRC) is the outcome.

Established with US$300 million from the World Bank, the NMRC will provide mortgage lending banks with increased access to long-term funds. NMRC should be able to deliver more than 75,000 new homes per year and generate 300,000 direct and 488,000 indirect jobs during the initial phase of the program. President Jonathan officially launched the NMRC in January 2014 in Abuja, and the company is now in operation.

The agency also expects to facilitate more than 450,000 loans for low-cost housing units over the next five years. As of December 2018, the NMRC has already refinanced mortgage loans totaling NGN 18 billion (US$ 58.7 million).

This follows earlier efforts. In 2000, the government established the Real Estate Developers Association of Nigeria and the Ministry of Lands, Housing and Urban Development, as well as restructuring the housing finance system through the Federal Mortgage Bank of Nigeria (FMBN).

Computerized land registries have also been introduced in Lagos and Abuja to address the lengthy registration process. In August 2010, the governor of Lagos State also signed a bill establishing the Lagos State Mortgage Board whose mandate is "to generate an environment that enables access to mortgage finance".

Economy improving, but unemployment continues to rise

Nigeria’s economy expanded by 1.9% in 2018, an improvement from a minuscule growth of 0.8% in 2017 and a contraction of 1.6% in 2016, buoyed by improvements in manufacturing and services, supported by the continued recovery in the oil sector, according to the International Monetary Fund (IMF). The economy grew by 2.01% in Q1 2019 from a year earlier.

The oil sector grew by 1.14% in 2018 while the non-oil sector expanded by 2% over the same period, according to the NBS. In Q4 2018, oil production stood at 1.91 million barrels per day.

Nigeria gdp inflation

There had previously been growth rates of 2.7% in 2015, 6.3% in 2014, 5.4% in 2013, 4.3% in 2012, and 4.9% in 2011. The economy grew strongly from 2001 to 2010, with an average real GDP growth rate of 8.9% every year.

The economy is projected to improve further, with growth forecasts of 2.1% this year and 2.5% in 2020, based on IMF estimates. But the Central Bank of Nigeria is more optimistic, projecting a 3% growth this year.

In May 2019, Nigerian President Muhammadu Buhari signed an ambitious budget into law, amounting to NGN 8.92 trillion (US$ 24.81 billion), in an effort to boost the economy and increase its expenditure on security to help the government combat rising militancy and kidnapping across the country.

Buhari won a second term in the February 2019 elections, defeating his pro-business rival Atiku Abubakar who had pushed for privatizations and a shift towards a free-floating exchange rate regime.

In April 2019, nationwide inflation stood at 11.37%, slightly up from the previous month’s 11.25%, amid a surge in food prices, according to the National Bureau of Statistics (NBS). After an annual average of 10% from 2006 to 2015, inflation climbed to almost 15% every year from 2016 to 2018.

Unemployment is rising sharply. In Q3 2018, the overall unemployment rate stood at 23.1%, up from 22.7% in Q2 2018, 21.8% in Q1 2018, 20.4% in Q4 2017 and 18.8% in Q3 2017, according to the NBS. Also, it was a sharp increase from an average unemployment rate of 8.8% from 2010 to 2016, according to the IMF.

Youth unemployment was very high, at 55.4% in Q3 2018.

Nigeria’s “rebased” GDP; multiple exchange rate system

Nigeria´s economy is now visibly the largest in Africa after it "rebased" its gross domestic product (GDP) for 2013, from US$270 billion to about US$515 billion. That compares with South Africa´s GDP of US$367 billion and Egypt´s GDP of US$285 billion at the end of 2013.

While the revised figure makes Nigeria the 26th biggest economy in the world, the country lags behind in terms of income per capita, with US$2,049 for each citizen in 2018 - compared to South Africa´s income per capita of US$6,377.

The rebasing of Nigeria´s GDP has boosted interest from international property developers and foreign homebuyers to invest in the country´s real estate market.

Nigeria exchange rate

However, since the peg to the US dollar was abolished in June 2016, the Naira has been falling sharply, resulting to a contraction in the overall size of the economy. In fact, Nigeria’s GDP shrank by almost a fourth to just about US$397 billion in 2018. After maintaining an exchange rate of NGN 197 = USD 1 for about 16 months, Nigeria´s central bank decided to move to a multiple foreign exchange policy to alleviate the chronic foreign currency shortage after the 2014 crash in oil prices. In just seven months, the Naira lost about 38% of its value.

In May 2019, the official exchange rate stood at an average of NGN 306.4 = USD 1, almost unchanged from a year earlier. However, the convertible Investors and Exporters window, to which the parallel market rate remains aligned, traded at a 20% premium over the official exchange rate at NGN 360 = US$ 1.

Recently, the IMF noted that the existence of multiple exchange rates creates distortions in the economy and discourages foreign investment. The international organization called for a unified market-based exchange rate and greater flexibility on a more permanent basis to support inflation targeting, shield the economy from external shocks and improve the country’s trade competitiveness.

Baba Go Slow’s war against corruption

President Muhammadu Buhari was elected in 2015 on a wave of hope that he could defeat Boko Haram Islamists and turn around a country blighted by decades of corruption and poor governance. During his first election campaign, he vowed to fight against corruption and insecurity if elected, and the anti-graft war has been one of his topmost priorities.

But though he was Nigeria´s first opposition candidate to defeat an incumbent, and recently won a second term, questions have often arisen about his fitness to govern. He has frequently been abroad for medical treatments, sparking one of politics´ more unusual conspiracy theories -- that he had died and been replaced by a lookalike from Sudan.

Nigeria unemployment

Some critics have focused less on his physical frailties and more on his mental faculties. After US President Donald Trump reportedly called him "lifeless" after the recovering Buhari visited Washington, his critics were delighted.  After an appearance in a live televised question-and-answer session in January 2019, one commentator called Buhari "intellectually disabled".

Critics, who gave Buhari the nickname "Baba Go Slow" because it took him six months to appoint a cabinet, have continued to complain about his relaxed working style, and for concentrating power within a small group of trusted advisors, who like him are Hausa-speaking, ethnic Fulani Muslims from the north.  These critics have included his wife, Aisha, who has criticised the so-called "cabal" around her husband, and retweeted videos of opposition lawmakers criticising the government. Nigeria´s lawyers have criticized his authoritarianism, suggesting that the anti-corruption campaign has been partial and favoured the ruling party.

Corruption is certainly a major problem. Based on a recent study conducted by PwC, corruption in Nigeria could cost up to 37% of GDP by 2030 if not dealt with. This cost is equivalent to about US$1,000 per person in 2014 and almost US$2,000 per person by 2030.

The northeast is in thrall to the Islamist terror organization Boko Haram. The police are abusive, violent, and corrupt. Power cuts are frequent, the roads ill-maintained. The press is under threat. The south periodically wonders whether it should separate from the chaotic north.

Colonized by the British, Nigeria gained its independence in 1960. The country´s oil industry boomed in the 1970s, making Nigeria Africa´s largest oil exporter. But with the world recession of the 1980s oil prices plunged, leading to a cycle of massive debt, soaring inflation, and large-scale unemployment. The oil price is now rising again, but little trickles down to the masses.

A 2018 report by Brookings Institution showed that Nigeria has already overtaken India as the world’s poverty capital. In May 2018, Nigeria had about 87 million people in extreme poverty, representing about 45% of its total population.

 

Sources:

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4 months ago Read More

According to real estate experts, the real estate sector needs to contribute more to economic...

4 months ago Read More

Managing Director, Ramos Realty, Adeyinka Ramos has called on the government to intervene in what...

4 months ago Read More

Looking at the nexus between real estate and economic development, Founder of Eximia Limited, Mr....

4 months ago Read More

Gasvine Properties, a foremost Nigerian leading indigenous real estate development company, has...

4 months ago Read More

The real estate market is currently underpinned by unexpected quick rise in exchange rates, foreign...

4 months ago Read More

It is a welcome development that the Lagos State Government is putting various mechanisms in place...

4 months ago Read More

From a relatively unassuming street largely known for housing Kingsway Stores, Nigeria’s most...

4 months ago Read More

Citing a report, Mr Bawa says Abuja, Port Harcourt, Kano, and Lagos, are among the major cities...

4 months ago Read More

A pan African finance institution that supports the development of housing sector in Africa,...

5 months ago Read More

Can you imagine signing a contract that includes being barred from cooking in your apartment or...

5 months ago Read More

Twelve years after some retirees and Nigerians abroad purchased houses in the Renaissance Estate in...

5 months ago Read More

Real estate development and management outfit, White Rose Properties has uncovered its new luxury...

5 months ago Read More

Across the world’s top cities, we have found that households are spending as much as over 50%...

5 months ago Read More

Why are you in real estate?We didn’t venture into The Address Homes to make money, even...

5 months ago Read More

The Independent Corrupt Practices and other Related Offences Commission (ICPC) has said it would...

5 months ago Read More

Nigeria’s largest social housing fund, Family Homes Funds Limited (FHFL) has announced an...

5 months ago Read More

The Head of Equities and Fixed Income sales, Absa Nigeria, Simi Ojumu, speaks on the operations of...

5 months ago Read More

The Chairman of Emohua Local Government Area Dr. Chidi Lloyd, has promised to grant tax waivers to...

5 months ago Read More

• Experts foresee increase in demandThe Nigerian luxury real estate market is getting a...

5 months ago Read More

The unending inflationary spike and absence of implementable policies to support the built...

5 months ago Read More

The recent executive order issued by the Minister of Works and Housing, Mr. Babatunde Fashola, to...

5 months ago Read More

The unending inflationary spike and absence of implementable policies to support the built...

5 months ago Read More

Precious Ugwuzor reports that with widening housing deficit, the recent incursion of China...

5 months ago Read More

According to Mr Fashola, the cost of living is not only rising in Nigeria but across the world. He...

5 months ago Read More

ABUJA  – The Chairman, Ad-hoc Committee created to Investigate Operations of Real...

5 months ago Read More

A real estate expert, Mr Jide Odusolu says the Nigerian housing sector which remains the largest...

5 months ago Read More

The path to becoming a real estate agent isn’t exactly a mystery. However, if you want to...

6 months ago Read More

The Group Managing Director of Gasvine Properties Limited, Dr. Oziele Godwin has called on...

6 months ago Read More

Rents are rising faster in short-let residential property markets in major cities, following a...

6 months ago Read More

Aspiring home buyers may have watched as mortgage rates in recent months rose (though to be fair...

6 months ago Read More

An Abuja-based property developer, Messrs SOW Real Estate has urged governments to up-scale efforts...

6 months ago Read More

This report provides strategists, marketers and senior management with the critical information...

6 months ago Read More

This report provides strategists, marketers and senior management with the critical information...

6 months ago Read More

There is obviously a secret plan being nurtured and promoted by a group of real estate...

6 months ago Read More

• Nigeria Police, public servants, fire service, NSCDC are beneficiaries In line with the...

6 months ago Read More

To address the housing deficit, investors globally have been urged to co-own prime real estate...

6 months ago Read More

The Ghanaian government says it is committed to reducing the country’s housing deficit...

6 months ago Read More

The Ghanaian government says it is committed to reducing the country’s housing deficit...

6 months ago Read More

Being a landlord in Nigeria can be a difficult job, especially if you have decided to put up your...

6 months ago Read More

Experts have explained why real estate investors eye opportunities in other markets across Africa,...

6 months ago Read More

As a player in this industry for upward of 10 years, I’m quite aware that this day will come...

6 months ago Read More

Experts in Nigeria’s real estate sector have warned that growth in the indsutry would be...

6 months ago Read More

The Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), has charged newly...

6 months ago Read More

The Chairman of Emohua Local Government Area Dr. Chidi Lloyd, has promised to grant tax waivers to...

6 months ago Read More

Real estate is a profitable sector in Sub-Saharan Africa due to the region's fast-rising population...

6 months ago Read More

Once again, the real estate sector of the economy has shown resilience, posting 2.26 percent growth...

7 months ago Read More

Recently, the Lagos State Governor, Mr. Babajide Sanwo-Olu, signed into law three bills that were...

7 months ago Read More

Nollywood actress, Tonto Dikeh, has gifted her son, Andre, a piece of land in Scotland as the...

7 months ago Read More

The Construction and Real Estate Group of the Nigerian-British Chamber of Commerce has dissected...

7 months ago Read More

There is no doubt that the ravaging COVID-19 has significantly changed the way people live, work...

7 months ago Read More

Towards ensuring that Nigerians broaden their investments in the real estate sector especially...

7 months ago Read More

Lagos authorities have explained that the recently signed Lagos State Real Estate Regulatory...

7 months ago Read More

Experts from the Nigerian-British Chamber of Commerce (NBCC) have unanimously agreed that,...

7 months ago Read More

Real estate is the world’s biggest asset class. A growing number of businesses and real...

7 months ago Read More

Mixta Africa, one of Africa’s largest indigenous real estate companies has announced plans to...

7 months ago Read More

  Notwithstanding heightened uncertainty and affordability challenges, experts are optimistic...

7 months ago Read More

The Borno State Geographic Information Service (BOGIS) has increased its internally generated...

7 months ago Read More

The Federal Government of Nigeria and State Governments have been advised to tap into the...

7 months ago Read More

• Experts seek new land reform policy, abrogation of land use Act Housing experts have...

7 months ago Read More

Real estate and financial experts converged on Lagos at the weekend to explore investment...

7 months ago Read More

• Experts seek new land reform policy, abrogation of land use Act Housing experts have...

7 months ago Read More

If you’ve been tuning in to investor stories on the smart property investment post then...

7 months ago Read More

The US vacation rental industry’s total revenue is estimated to reach $14 billion dollars in...

8 months ago Read More

There’s no doubt that Real estate is one of the best methods to build long-term wealth, and...

8 months ago Read More

There’s no doubt that Real estate is one of the best methods to build long-term wealth, and...

8 months ago Read More

Despite the closeness of plants to Lagos, cement prices are shooting beyond the roof in reaction to...

8 months ago Read More

These are not the best of times for facility managers as increasing energy prices have shot up...

8 months ago Read More

The Lagos State Government enacted a Tenancy Law a while ago. Tenants in the State saw this as a...

8 months ago Read More

With a housing deficit running into tens of millions, many Nigerians face the challenge of owning...

8 months ago Read More

In Nigeria, there are two main ways to invest in real estate. You can either buy an existing home...

8 months ago Read More

Buying real estate is the biggest, safest, longest-lasting, and greatest investment one can make...

8 months ago Read More

Oneland Africa has in its recent trend diagnosed the negative impact that  befell the real...

8 months ago Read More

Upon the setting of a bear market, much anticipation and pessimism are revealed… however,...

8 months ago Read More

The unprecedented activities of fraudsters and professionals who invade the real estate market to...

8 months ago Read More

Notwithstanding heightened uncertainty and affordability challenges, experts are optimistic of...

8 months ago Read More

Notwithstanding heightened uncertainty and affordability challenges, experts are optimistic of...

8 months ago Read More

Given the real estate deficit that has plagued the nation, MD/Chief Executive Officer, Reftop Homes...

8 months ago Read More

A new report by a Lagos-based real estate firm, Octo5 Holdings limited has revealed that the...

8 months ago Read More

After the COVID-19 pandemic disrupted activities, which are at the heart of the real estate...

8 months ago Read More

Towards ensuring affordable and environmentally friendly living, the Nigeria Mortgage Refinance...

8 months ago Read More

Absorption rate is the number of months it would take to sell the currently listed homes in the...

9 months ago Read More

Amid growing public concern over housing prices introduced by the Federal Government under the...

9 months ago Read More

The real estate sector is facing challenges of dwindling consumer disposable income. How much has...

9 months ago Read More

As global home prices ticked up in the third quarter, there’s evidence that they’ve...

9 months ago Read More

This year has been a long run, from businesses and individuals trying to recover from the adverse...

9 months ago Read More

The Lagos State Government has urged Lagosians to key into the proposed Lagos monthly rental policy...

9 months ago Read More

To contribute towards the growth of the sector, property development firm, Messrs The Address Homes...

9 months ago Read More

To limit impact of climate change, the Royal Institution of Chartered Surveyors (RICS) Nigeria...

9 months ago Read More

The Senate and House of Representatives, recentlly passed the bill to establish the Real Estate...

9 months ago Read More

Amid growing public concern over housing prices introduced by the Federal Government under the...

9 months ago Read More

Lagos-based real estate firm, Messrs GMH Luxury, has reaffirmed its commitment to bridge existing...

9 months ago Read More

Nigeria is the poverty capital of the world, yet very rich in human resources. Aside from...

9 months ago Read More

Determined to bridge the housing deficit and create affordable accommodation for residents, Lagos...

10 months ago Read More

The Nigerian Senate, on Wednesday, passed a bill for the establishment of the Real Estate...

10 months ago Read More

Apart from sanitising the housing sector, the Real Estate Regulatory Council Bill when assented to...

10 months ago Read More

The 7th annual West Africa Property (WAPI) summit has been slated for November 23-24 at Four Points...

10 months ago Read More

Emerging from very humble beginnings, Akintayo Adaralegbe ascended through the rungs of the ladder...

10 months ago Read More

Deji Elumoye in Abuja The Senate on Wednesday passed a bill to establish the Real Estate...

10 months ago Read More

The real estate sector in Nigeria has recorded tremendous growth over the years and has become a...

10 months ago Read More

As public servant, Babatunde Raji Fashola has always been guided by the prudence of data and...

10 months ago Read More

Last Friday, inside the Conference Room of the Federal Ministry of Works and Housing in...

10 months ago Read More

The Federal Government is set to commence the sale of houses under the National Mass Housing...

10 months ago Read More

Experts in Nigeria’s real estate industry will be giving tips to industry enthusiasts on how...

10 months ago Read More

Investment itself comes with a lot of risks that can be jeopardized as a result of bad decisions...

10 months ago Read More

Mr. Yemi Ejidiran is a quantity surveyor and Managing Director, Wemabod Limited. He spoke with...

10 months ago Read More

The Oyo State Government has vowed to deal with all illegal occupants of government properties,...

10 months ago Read More

Abuja rent growth is outpacing the rest of the northern region as the city’s apartment market...

10 months ago Read More

A roperty investment company, Lifepage Group, has reiterated its resolve to build one million...

10 months ago Read More

This report aims to look at the problems in the housing sector in Nigeria and the...

10 months ago Read More

To unlock more growth in the sector, the Managing Director of Sabreworks ltd, Mr. Olusegun Philips...

10 months ago Read More

With the fast rising cost of owning a house in Nigeria, you are probably on the lookout for an...

10 months ago Read More

The spread of the COVID-19 pandemic undermined the real estate sector throughout the...

11 months ago Read More

Abuja rent growth is outpacing the rest of the northern region as the city’s apartment market...

11 months ago Read More

Nigerians both in diaspora and in the country with a plan to invest in the nation’s booming...

11 months ago Read More

The real estate sub-sector of the Nigerian economy has been described as a veritable and sure...

11 months ago Read More

Fast rising property development company, Eystone Development, has taken another step in the...

11 months ago Read More

Insolvency is hitting the real estate market even as real estate operators and construction...

11 months ago Read More

The Group Chief Executive Officer, Broll Property Group, Malcolm Horne, has predicted that the...

11 months ago Read More

Despite the signing into law of Executive Order 5, participation of indigenous engineers in...

11 months ago Read More

The Borno State Civil Society Organisations (CSOs) and WaterAid have advocated for a water policy...

11 months ago Read More

Foremost property development Company, UPDC Plc has begun a site and services scheme in Lekki...

11 months ago Read More

• Proposes affordable housing development fund• Less than 100,000-units built in a...

11 months ago Read More

The unprecedented activities of fraudsters and professionals who invade the real estate market to...

11 months ago Read More

As high prices of building materials threaten construction costs and dampen hopes of quality homes,...

11 months ago Read More

The nation’s inflationary trend, which rose as high as 17.01 per cent, is adversely impacting...

11 months ago Read More

   Experts have urged professionals in the real estate industry to take advantage of...

11 months ago Read More

The Centre for Housing and sustainable Development (CHSD), University of Lagos has won a grant...

11 months ago Read More

Upon the setting of a bear market, much anticipation and pessimism are revealed… however,...

a year ago Read More

The Abia state chapter of the Nigerian Environmental Society (NES) has pledged to develop effective...

a year ago Read More

A new report by the United Nations Environment Programme (UNEP) has revealed that one-third of...

a year ago Read More

To prevent further destruction of life and property, Osun State government has commenced dredging...

a year ago Read More

To ensure speedy delivery of construction works in the country, Julius Berger Nigeria Plc, has...

a year ago Read More

To unlock more growth in the sector, the Managing Director of Sabreworks ltd, Mr. Olusegun Philips...

a year ago Read More

Nigeria’s real estate sector has not remained the same since the advent of the global...

a year ago Read More

A research report by the American Water Works Foundation in 1996 pointed out key basic principles...

a year ago Read More

The Kano state government has launched a statewide one million tree planting campaign across the 44...

a year ago Read More

These are not the best of times for potential homeowners and developers as a sharp increase in...

a year ago Read More

• Rent rise by over 50 per cent in major locations Rental homes are getting more expensive in...

a year ago Read More

 Want owners of vacant properties in FCT, others investigated• Urge scrutiny on...

a year ago Read More

Despite a struggling economy and insecurity in the country, the residential market has remained...

a year ago Read More

A chief lecturer in the department of urban and regional planning, Yaba College of Technology...

a year ago Read More

Rental homes are getting more expensive in Southwestern cities as professionals and young families...

a year ago Read More

Encouraged by the potential of Ito-Omu and its adjoining communities in Ibeju and Epe Local...

a year ago Read More

A real estate firm, Vinhomes Global Services Limited, has petitioned the Attorney General and...

a year ago Read More

In a bid to ensure proper and enduring control of flood in the affected area when completed, the...

a year ago Read More

A Lagos-based developer, Wealth Island Properties has implored the federal and state governments to...

a year ago Read More

To unlock more investment, the Lagos State Governor, Babajide Sanwo-Olu has reaffirmed the...

a year ago Read More

A new report released by the Ikeja branch of the Nigerian Society of Engineers (NSE) has revealed a...

a year ago Read More

The Association of Private Practicing Surveyors of Nigeria has expressed worries over alleged...

a year ago Read More

The Lagos State Government has introduced modular building systems such as containerised material...

a year ago Read More

Apparently, to ensure collaboration in the delivery of affordable housing for low-income earners,...

a year ago Read More

Experts have urged professionals in the real estate industry to take advantage of existing...

a year ago Read More

To avert pitfalls in project delivery, the Nigerian Institute of Quantity Surveyors (NIQS) has...

a year ago Read More

After months of lingering legal tussles that ended at the Federal High Court over the powers of the...

a year ago Read More

Plans are underway by the Federal Housing Authority (FHA) and Hongye Group to develop a green smart...

a year ago Read More

PWAN Plus, owners of Cedarwood Luxury Estate has handed over keys of three bedroom terraces and...

a year ago Read More

A Nigerian real estate consultancy firm, Overland Properties Limited, has announced plans to...

a year ago Read More

The Resource Centre for Human Rights & Civic Education (CHRICED) has been awarded a grant from...

a year ago Read More

The Chief Executive Officer (CEO) of Rock Realty Limited, Ibukun Adebayo-Adedayo has played a big...

a year ago Read More

On the heels of the relocation of saw millers at Okobaba to Agbowa-Ikosi site, the Lagos State...

a year ago Read More

The Lagos State Building Control Agency (LASBCA) has decried illegal development and encroachment...

a year ago Read More

A two-story building under construction in a Lagos community collapsed on Tuesday, killing its...

a year ago Read More

• Want owners of vacant properties in FCT, others investigated• Urge scrutiny on...

a year ago Read More

Experts in the real estate sector have urged the government to introduce policies that would...

a year ago Read More

For more than a year now, the housing market has been a perfect storm for sellers, but the winds...

a year ago Read More

Four years ago, when Nigeria first suffered a major currency crisis, Chukwuemeka decided it was...

a year ago Read More

Towards increasing housing delivery, experts have reiterated need for enabling environment and...

a year ago Read More

Apparently, to stave off rising cost of cement in the building material markets, contractors and...

a year ago Read More

Ahead of selecting a contractor for the multi-billion-naira Fourth Mainland Bridge project, the...

a year ago Read More

The real estate industry has undergone a lot of changes since Liz Moore began her career in 1984....

a year ago Read More

The Federal Government has advised estate surveyors and valuers to always have the interest of...

a year ago Read More

Following the Federal Executive Council (FEC) approval for the resumption of the Federal Capital...

a year ago Read More

The Lagos State Government plans to de-risk the housing and mortgage sector, unlocking its...

a year ago Read More

MKH Investment Limited, one of the fastest-growing real estate companies in Lagos, has extended its...

a year ago Read More

The Oyo State Governor ‘Seyi Makinde has commenced the payment of Land Use Charge by paying...

a year ago Read More

• Average prime rents up by 20% in Q1 2021• Prime office yields 8%, driven by pent up...

a year ago Read More

The Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN) has called for the urgent...

a year ago Read More

Beyond the glitz and glamour that surrounds the main FCT metropolis lies some upcoming but relative...

a year ago Read More

Nearly half of Africa’s population could face a future of widespread drought, hunger and mass...

a year ago Read More

Participants at a forum organised by the Nigeria Erosion and Watershed Management Project (NEWMAP)...

a year ago Read More

Although first announced in 2015 as the “Faith Theatre”, the ongoing Winners...

a year ago Read More

Recyclan, in partnership with the Lagos State Ministry of Environment and humanity Nigeria, is...

a year ago Read More

Despite the pandemic, African interest in property abroad did not drop in 2020. Conversely, it grew...

a year ago Read More

The article, on The Guardian property page of Monday, June 7, 2021, titled Federal Secretariat,...

a year ago Read More

Enugu State Government has said it is determined to provide shelter for prospective homeowners in...

a year ago Read More

Despite the job losses and salary cuts caused by Covid-19 pandemic which prevented many home...

a year ago Read More

Poised to achieve comfort in buildings, experts have stressed the need for professionals in the...

a year ago Read More

Concerns have continued to mount over the abandonment of Federal Government buildings in Lagos, the...

a year ago Read More

The opportunities created amid the COVID-19 pandemic has raised optimism that the residential,...

a year ago Read More

The growth of the Nigerian Real Estate sector in 2021 was the focus of experts and analysts at the...

a year ago Read More

To mitigate the impact of climate change and improve environmental sustainability in Lagos, the...

a year ago Read More

A mortgage deal in HELIU Residences supposed to make civil servants in Enugu State Government...

a year ago Read More

To boost investors’ confidence, the Lagos State Government has inaugurated a 16-man Technical...

a year ago Read More

When iBuyers pushed the “pause” button in March as a result of market conditions and...

a year ago Read More

Every economic and political factor in Nigeria indicates that the Real Estate ecosystem can only...

a year ago Read More

Former President, Nigerian Institute of Architects (NIA), Chief. Charles Majoroh has called for the...

a year ago Read More

Babajide Odusolu is the former Managing Director, Ogun Property Investment Corporation (OPIC) and...

a year ago Read More

A fresh 30-year concession for the redevelopment of Tafawa Balewa Square (TBS) located in Marina...

a year ago Read More

Homes in Nigeria come in various styles, forms, and shapes — from mansions to bungalows to...

a year ago Read More

Lagos is known for its exuberance and The Double H was established with that in mind. The African...

a year ago Read More

The Lagos State government has completed negotiations with its Ogun State counterpart on ceding...

a year ago Read More

Expectations were high at the weekend as professionals submitted proposals for the consultancy...

a year ago Read More

About 28 years after it was abandoned, Nigeria’s primary centre for the performing arts...

a year ago Read More

Fresh building blocks were again laid recently in Lagos, unto Nigeria mortgage finance sub-sector,...

a year ago Read More

• Over N250b received by housing ministry• Housing agencies exonerate selves from poor...

a year ago Read More

With inflation trend rising, experts are foreseeing an increase in rent and property values...

a year ago Read More

A Property owner, Mr. Stephen Ugochukwu, has sent a save-our-soul message to the Lagos State...

a year ago Read More

This insinuation far from the truth, says officialMrs Titi Akinlowo’s dream was to have a...

a year ago Read More

The eerie silence and emptiness at the large reception hall of the imposing four-storey...

a year ago Read More

More than a month after building regulations agencies were notified about a structure under...

a year ago Read More

As inflation continues to spiral, major building materials markets in some parts of the country...

a year ago Read More

As part of its promise to guarantee increased investments in the real estate sector, Novarick...

a year ago Read More

 A tripartite agreement that will yield 1,000 affordable housing units in Enugu State has been...

a year ago Read More

The Lagos State Government has awarded reconstruction and upgrade of three roads in Lagos Island...

a year ago Read More

The Nigerian Institution of Estate Surveyors and Valuers (NIESV) said over 90 per cent of land in...

a year ago Read More

The numbers: The construction industry’s confidence rebounded in April, according to...

a year ago Read More

As Lagos State Government prepares for the first phase construction of a 37-kilometre rail project,...

a year ago Read More

To mitigate the nation’s housing deficit, a real estate firm, the COPEN group has indicated...

a year ago Read More

The Infrastructure Concession Regulatory Commission (ICRC) has said, the proposed Jabi Lake project...

a year ago Read More

More than 930 million tonnes of food sold in 2019 landed in waste bins, according to a new UN...

a year ago Read More

 The emerging battle to wade off private developers and investors from constructing...

a year ago Read More

To mitigate climate change effects and ensure environmental sustenance, the Lagos State...

a year ago Read More

Dr. Omoayena Odunbaku is the UN-Habitat’s Human Settlement Officer in charge of...

a year ago Read More

Legal battle over the regulation of real estate transactions in Lagos state is expected to move to...

a year ago Read More

Osborne Foreshore Estate residents have contested moves by Lagos State Government to convert area...

a year ago Read More

Poised to address the dearth of skilled labour, the Federal Government has pledged to resuscitate...

a year ago Read More

Substandard steel products are being sold in major building materials in the country, especially in...

a year ago Read More

Contractors handling the Abuja mass housing project in Zuba are in dilemma over the inability of...

a year ago Read More

The Federal Government has inaugurated the second Governing Council of Hydrocarbon Pollution...

a year ago Read More

International Finance Corporation (IFC) has given a green building certification to Lekki...

a year ago Read More

The Nigerian Institute of Architects (NIA), has expressed worry over the relegation of built...

a year ago Read More

Fresh concerns loom large in the real estate sector, as operatives are apprehensive that housing...

a year ago Read More

The recent sharp rise in interest rates is now taking a toll on mortgage refinance demand, as the...

a year ago Read More

Lagos State Environmental Protection Agency (LASEPA), has charged accredited consultants to be more...

a year ago Read More

With 75 per cent shortfall in Nigeria’s home ownership, industry experts have urged first...

a year ago Read More

Olaposi Lawore is the Managing Director of Dynasty Real Estate (DRE). He has a passion for...

a year ago Read More

Ministers of the environment and other leaders from more than 150 nations, last week, concluded a...

a year ago Read More

After last year’s unpredictability, hopes are high for Nigeria’s real estate as the...

a year ago Read More

Given the challenges facing the real estate industry, valuers have urged the Federal Government to...

a year ago Read More

Piqued by the low contribution of the construction sector to the national Gross Domestic Product,...

a year ago Read More

In a bid to contribute to the economic growth and prosperity, Novarick Homes, a property...

a year ago Read More

In a bid to contribute to the economic growth and prosperity, Novarick Homes, a property...

a year ago Read More

When the first case of the coronavirus pandemic was discovered in Nigeria, there was apprehension...

a year ago Read More

The Nigerian Association of Resident Doctors (NARD) has commenced its housing project in Anambra...

a year ago Read More

Former urban dwellers who have fled to quieter, smaller towns during the pandemic may find...

a year ago Read More

Towards repositioning Nigeria as a tourism destination, the Africa Nature Investors (ANI)...

a year ago Read More

As businesses begin to emerge from the COVID-19 crisis, many of those whose operations were...

a year ago Read More

The question of whether or not Enugu State Commissioner for Lands and Urban Development,...

a year ago Read More

Britain’s luxury property market swelled in 2020, as an increasing number of homes joined the...

a year ago Read More

Martin Dada is a professor of building at the University of Lagos. He spoke to VICTOR...

a year ago Read More

Better days seem ahead for housing finance in the country, following the listing of the Nigerian...

a year ago Read More

An unprecedented scale of valuation jobs might have been thrown up for estate surveyors and...

a year ago Read More

The nation’s apex mortgage bank has announced a technology-driven system that would help...

a year ago Read More

The outbreak of the pandemic across the globe and its ravaging effects in Africa-particularly...

a year ago Read More

Despite the place of shelter in the Maslow’s hierarchy of human needs, housing delivery in...

a year ago Read More

To address contentious areas of the Surveying Council of Nigeria (SURCON) Act, and ensure lasting...

a year ago Read More

Dangote Group, a Nigerian multinational industrial conglomerate has completed the...

a year ago Read More

The Housing Development Advocacy Network (HDAN) has cautioned dubious developers operating in the...

a year ago Read More

Notwithstanding its below-average performance in 2020 occasioned by government inability to pay...

a year ago Read More

The Kebbi State Governor, Senator Atiku Abubakar Bagudu, has revoked the contract for the...

a year ago Read More

A Lagos-based real estate Company, Property World Africa Network (PWAN Group) has said its new...

a year ago Read More

Borno State Governor, Babagana Zulum has laid the foundation for the construction of...

a year ago Read More

  Notwithstanding the poor performance of the real estate sector last year, occasioned by...

a year ago Read More

As the world has been ushered into the year 2021 and as the COVID-19 looms ahead after the second...

a year ago Read More

Notwithstanding the poor performance of the real estate sector last year, occasioned by the...

a year ago Read More

The Federal Capital Territory Administration (FCTA) has warned the six area councils against...

a year ago Read More

The Lagos state commissioner for Physical Planning and Urban Development, Dr Idris Salako disclose...

a year ago Read More

The Nigerian Real Estate Market half-year report, released by Northcourt, a real estate advisory,...

a year ago Read More

Nigerians are not amused by the seeming politicisation of safety of lives and property of citizens,...

a year ago Read More

Despite uncertainty in the housing sector, worsened by rising inflation in the country, a...

a year ago Read More

Anthony Aihie is the Managing Director/Chief Executive Officer, Design Union Limited, a...

a year ago Read More

A five-member gang of serial real estate scammers, who were about to fraudulently lease out someone...

a year ago Read More

The Association of Estate Agents in Nigeria (AEAN), an affiliate of the Nigerian Institution of...

a year ago Read More

The third decade of the 21st century opened up to a world that has been forced into a sharp...

2 years ago Read More

There is palpable fear as the federal government has commenced the process of recovering about 149...

2 years ago Read More

This was disclosed by the Lagos Commissioner for Finance, Dr Rabiu Olowo, on Wednesday. According...

2 years ago Read More

 The National Economic Council (NEC) in a virtual meeting presided over by the Vice President,...

2 years ago Read More

As the downturn from coronavirus pandemic squeezes the economy, higher-end and luxury real estate...

2 years ago Read More

With a population of over 200 million, Nigeria’s major cities are groaning under housing...

2 years ago Read More

As some retail and e-commerce firms are increasing operations to meet customers’ necessities...

2 years ago Read More

The President, Architects Registration Council of Nigeria, Sir Oladipupo Ajayi, says...

2 years ago Read More

As the coronavirus continues to spread, there is fear and trepidation in the air among the real...

2 years ago Read More

The International Planning Associates (IPA) was commissioned in June 1977, by the Federal Capital...

2 years ago Read More

A human rights lawyer, Mr. Femi Falana, has pledged his support towards addressing the menace of...

2 years ago Read More

As Nigeria’s housing shortfall rumbles on, the impact of Real Estate Investment Trusts as...

2 years ago Read More

Haven Homes, a real estate developer, has partnered Seso Global, a property sales and marketing...

2 years ago Read More

Ex-Nigerian international (footballer), Joseph Yobo, says to reduce the country’s housing...

2 years ago Read More

As Nigeria’s housing shortfall rumbles on, the impact of Real Estate Investment Trusts as...

2 years ago Read More

The Federal Government has completed 2,500 housing units in 34 states, the Minister of Works and...

2 years ago Read More

The International Facility Management Association, Nigeria Chapter and Applied Engineering...

2 years ago Read More

The Chairman, Sparklight Property Development Company, Chief Olutoyin Adeyinka, has said the...

2 years ago Read More

The slow down in Nigeria’s real estate industry has been blamed on oversupply in the...

2 years ago Read More

The Majority of African countries are facing a housing crisis as a result of high population...

2 years ago Read More

Real estate investors in the Lekki area of Lagos State have decried the distortion of the master...

2 years ago Read More

The Women Association of Quantity Surveyors in Nigeria has called on the government and private...

2 years ago Read More

Worried by Nigeria’s huge housing deficit estimated at 17 million units and more than N59...

2 years ago Read More

Property developers have called on the federal and state governments to provide the required...

2 years ago Read More

The President of the Real Estate Developers Association of Nigeria (REDAN), Rev Ugochukwu Chime has...

2 years ago Read More

Nigeria’s first and biggest independent real estate network marketing firm, Adloyalty...

2 years ago Read More

The Ogun State Government says it will soon begin to revive some of its major old towns by giving...

2 years ago Read More

Stakeholders in the real estate industry have said Nigeria can solve its housing deficit challenge...

2 years ago Read More

The President of the Real Estate Developers Association of Nigeria (REDAN), Rev Ugochukwu Chime has...

2 years ago Read More

 Residents seek intervention over alleged land conversionHopes of subscribers in the...

2 years ago Read More

Dubai Government initiatives, including the formation of a new real estate committee to regulate...

2 years ago Read More

The Chief Executive Officer of Cielo City Estate, Mr. Damilola Ogunyemi, has said Nigeria’s...

2 years ago Read More

Stakeholders have commenced a process to address the problem of data collation that has been a...

2 years ago Read More

The National Assembly has written to the Nigeria Institute of Building, expressing its concern over...

2 years ago Read More

Nura DanMusa is a certified architect from the Eastern Mediterranean University (EMU) Cyprus, and...

2 years ago Read More

According to the provision of section 4 (1) (e) of the FCT Act, the FCDA is charged with the...

2 years ago Read More

Except for the Federal Government and private developers focus more on the production of homes for...

2 years ago Read More

REMI MAKINDE is a former president of the Nigerian Institute of Town Planners(NITP). He spoke to...

2 years ago Read More

The Presidency has said the sale of over 1,094 housing units completed by the Ministry of Works and...

2 years ago Read More

A past president of the Africa Union of Architects, Tokunbo Omisore, says with the increase in...

2 years ago Read More

Emerging Homeland Development Limited, developers of Silver Spring Residence, has said the Ibeju...

2 years ago Read More

  The Lagos State Governor, Mr. Babajide Sanwo-Olu, has said his administration...

2 years ago Read More

Lagos State Government has collaborated with Architects Registration Council (ARCON) by raising a...

2 years ago Read More

Kano state government has expressed readiness to key into the National Housing Scheme to...

2 years ago Read More

he Refined Investor Series 2020 promises to provide actionable insights for Real Estate Investors...

2 years ago Read More

Better days are ahead for property developers and investors as residential vacancy rate has...

2 years ago Read More

The complex is designed to reduce paperwork in most official dealings as all offices will be able...

2 years ago Read More

Worried by the alarming rate of Nigeria’s housing deficit, a property investment...

2 years ago Read More

Lagos State Commissioner for Physical Planning and Urban Development, Dr. Idris Salako (left)...

2 years ago Read More

The Minister of Works and Housing, Mr. Babatunde Fashola,  said the ministry would soon...

2 years ago Read More

President, International Real Estate Federation, FIBACI-Nigeria, Adeniji Adele (Left), FIBACI...

2 years ago Read More

Despite the critical role of shelter to human survival, availability of housing units for a...

2 years ago Read More

ELENA PANARITIS is the Founder and Chief Executive Officer of Thought Action and guest speaker at...

2 years ago Read More

The shelter is recognised as a basic human right, however, due to the high cost of building...

2 years ago Read More

FESADEB Communications Limited, a leading brand in the Nigerian housing and Public Relations...

2 years ago Read More

Worried about possible exclusion from completed Federal Government Housing schemes, contributors...

2 years ago Read More

Abandoned to fate by successive governments, the ancient city of Badagry has been bereft of any...

2 years ago Read More

Charters Cities Institute, a non-profit organization dedicated to building the ecosystem for new...

2 years ago Read More

Despite the lull in the property market, a new report says the country’s real estate...

2 years ago Read More

Eggheads in the nation’s real estate sector have predicted a marginal growth in the sector...

2 years ago Read More

The United Kingdom housing market may bounce back in 2020, now that there is less uncertainty...

2 years ago Read More

Northcourt Real Estate will host the Nigeria Real Estate Market Outlook Breakfast meeting and...

2 years ago Read More

With the accelerated development-taking place on the Lekki corridor, investors and developers...

2 years ago Read More

House sales in major cities in the United States are expected to nosedive in 2020, thereby...

2 years ago Read More

The Federal Government has been urged to keep off from direct construction of housing and...

2 years ago Read More

The Society for Professional Valuation, (SPV) has called on Nigeria’s anti-corruption...

2 years ago Read More

Experts in real estate business have called for concerted efforts aimed at attracting Nigerians in...

2 years ago Read More

Nigeria’s luxury real estate market has taken a beating lately due to several fundamentals,...

2 years ago Read More

Real Estate experts have canvassed the need for government to put in place policy that would compel...

2 years ago Read More

The Federal Mortgage Bank of Nigeria processed and disbursed a total of N75.5bn for 3,541 mortgages...

2 years ago Read More

The Chairman, Board of Trustee of the Society for Professional Valuation, Mr Sola Enitan,has said...

2 years ago Read More

Frank Okosun is the Senior Partner and Chief Executive Officer of Knight Frank Nigeria. In this...

2 years ago Read More

At a time when macroeconomic and political forces are aggravating the challenges of affordable...

2 years ago Read More

The hope of total recovery for Nigerian real estate in 2020 might not be in sight, as industry...

2 years ago Read More

Commercial banks’ credit to the real estate sector dropped by N122bn in the last one year,...

2 years ago Read More

Experts in the real estate industry have revealed that the next frontier that would redefine the...

2 years ago Read More

Experts have charged the managers of housing corporations and developers in the real estate sector...

2 years ago Read More

India is a country that houses more than 460 million internet users, making it the second-largest...

2 years ago Read More

The real estate industry’s potential to create jobs and boost economic growth has not been...

2 years ago Read More

As the momentum for housing delivery by private estate developers shifts away from the luxury...

2 years ago Read More

Permanent Secretary, Ministry of Housing, Mr Wasiu Adedamola Akewusola (left); Special Adviser to...

2 years ago Read More

The built environment has been fraught with challenges of collapse, quackery, substandard...

2 years ago Read More

Despite the reprieve promised by the Lagos government to property owners, professional groups and...

2 years ago Read More

Chairman, Royal Institution of Chartered Surveyors (RICS) Nigeria Group, Gbenga Ismail (left);...

2 years ago Read More

real Estate experts have canvassed the need for government to put in place policy that would compel...

2 years ago Read More

Many Nigerians are obsessed with Houses which is a reasonable thing as shelter is one of most...

2 years ago Read More

The business mogul said this at the 2019 Mo Ibrahim Forum. Dangote hinted that he avoids luxury...

2 years ago Read More

The most important thing that can boost access to homeownership and help Nigeria to bridge its...

2 years ago Read More

n the real estate investing business, real estate investors need to be familiar with the term...

2 years ago Read More

The Minister of Works and Housing, Mr. Babatunde Fashola, on Wednesday said the ministry would soon...

2 years ago Read More

To boost home ownership, experts in the real estate sector have called for holistic implementation...

2 years ago Read More

Small businesses and real estate investors are discovering that the new business landscape demands...

2 years ago Read More

Three years after the authorities finalised plans to embark on the redevelopment of Adeniji Adele,...

2 years ago Read More

To make Nigeria’s real estate sector more investable, and increase liquidity to drive greater...

2 years ago Read More

Except there is a reorientation on locations, design and foundation methodology in flood prone...

2 years ago Read More

The Lagos State Government has cautioned real estate developers in the state not to build without...

2 years ago Read More

The Lagos and Ogun state governments are in talks to control water released from the Oyan Dam which...

2 years ago Read More

A joint development commission that will foster a strong economic relationship between the Federal...

2 years ago Read More

A joint development commission that will foster a strong economic relationship between the Federal...

2 years ago Read More

Have you ever considered furnished apartments as a viable option during your search for an...

2 years ago Read More

Despite a rebound in some sectors of the economy, the property market has remained slow in...

2 years ago Read More

Landlords don’t just collect rent checks. Successful landlords must understand the law,...

3 years ago Read More

Landlords don’t just collect rent checks. Successful landlords must understand the law,...

3 years ago Read More

Ms. Leilana Fartha, UN Special Rapporteur on the Rights to Adequate Housing, on Monday advised the...

3 years ago Read More

The Nigeria’s luxury real estate market has taken a beating lately due to several...

3 years ago Read More

With the near completion of Dangote Refinery and projects like multi billion Alaro city , Sea port...

3 years ago Read More

After three years of house price falls, Nigeria’s property market is now stabilizing, mainly...

3 years ago Read More

CAPE metropolis – The modern global real estate and Transparency Index (GRETI) has shown an...

3 years ago Read More

Kylie Jenner these days grew to become 19 years vintage in a $50M condominium property, known as...

3 years ago Read More

The annual West African property investment (WAPI) Summit, the area’s most distinguished and...

3 years ago Read More

The Federal mortgage bank of Nigeria says it has invested over N197 billion to deliver over 26000...

3 years ago Read More

The housing market is on fire! Jonathan Smoke, our leader economist, describes it as the...

3 years ago Read More