LASPPPA, a regulatory body in Lagos, is upset with developers who aren’t following its notices. According to a statement by Abimbola Emdin-Umeh, the Director of Public Affairs, some property owners and developers in Lagos State consistently ignore notices to stop construction or provide necessary planning permits. Kehinde Osinaike, the General Manager of LASPPA, expressed frustration […]
Nigeria, despite not facing armed conflict like some countries, has the highest homelessness rate in Africa. Around 24.4 million Nigerians lack a place to call home. Egypt follows with an estimated 12 million homeless people. Homelessness is a global issue, Africa included. While some regions face displacement due to conflicts, in Nigeria, urbanization and
Why Nigeria leads African countries where homelessness is highest Read More »
The Association of Estate Agents in Nigeria (AEAN) has teamed up with American realtors from the National Association of Realtors in the United States of America (NAR) to boost real estate investment and enhance Nigeria’s global presence. Their collaboration has led to plans for a conference in Lagos from April 9 – 12, 2024. Adeniyi
Partnership with NAR Signals New Era for Nigerian Real Estate Read More »
A recent report by Estate Intel has highlighted the state of Foreign Direct Investment (FDIs) in the real estate sectors of various African countries. The report points out that Nigeria is trailing behind Botswana and Morocco in attracting FDIs due to factors such as high inflation, a weakened naira, and expensive production costs. In
Amidst Inflation: Here Is Why Nigerian FDI Trails Botswana Read More »
The recent surge in “kidnapping, banditry, and herdsmen’s attacks” across various parts of the nation has hampered private sector involvement in “house delivery” and the provision of professional services in the real estate sector. Amidst macroeconomic challenges, there are growing concerns among stakeholders that insecurity could exacerbate the housing deficit and impede investments in real
Surge in kidnapping and terror attacks poses big threat to Real Estate Sector Read More »
It’s acknowledged that real estate can be complex, demanding a deep understanding of its nuances and evolving trends for informed investment decisions. Experts have pinpointed five major trends expected to significantly impact the real estate sector throughout 2024. They emphasize that comprehending and adapting to these trends will assist investors and home buyers in navigating
5 important real estate sector trends to look out for in 2024 Read More »
Real estate marketing group, Peak Performer Business Network, is encouraging young people to consider real estate marketing to overcome financial challenges. Tomiwa Ogunremi, the business coach, shared this message during the network’s third-anniversary event in Lagos. Ogunremi emphasized the group’s vision to contribute positively to Nigeria’s economy by reducing unemployment through training and mentoring, fostering
Urgent Call: Youths Urged to Pursue Real Estate Marketing for Financial Freedom Read More »
On Sunday, January 21st, a fierce fire destroyed the well-known 10-story Mandilas Building on Broad Street, Lagos Island, causing losses of over N10 billion. The incident happened around 1:15 p.m. when businesses were closed. The fire originated in a warehouse on the first floor and spread to other levels. In a recent interview, Agu Versace,
Mandilas Fire Leaves Shop Owner Devastated, Blames Landlord Read More »
Real estate specialists recommend methods to strengthen Africa’s real estate market. They argue that impediments to cross-border transactions and collaboration among real estate experts should be eliminated. These experts emphasise the need to make mortgage rates accessible and reasonable across the continent. The Nigerian Institution of Estate Surveyors and Valuers (NIESV) organised a Pan-African Real
Practitioners seek removal of impediments to Africa’s real estate Read More »
The real estate and construction sectors have witnessed an increase in bank borrowings, but this has not resulted in additional housing stocks due to inflation and currency rate volatility. Experts warn of a possible disaster as developers struggle to repay debts. Inflation and exchange rate difficulties are harming industries, increasing the cost of imported supplies
Price Panic: Real Estate Hit as Rates, Inflation Skyrocket Read More »