Real Estate News

These are not best of times for renters, as the number of available properties continue to drop by the day and rent surges owing to inflation in the real estate sector. A factor that has also led to higher mortgage rates and higher home prices, increase in rental rates, devaluation of long-term debt, as well as increase in the cost ...

The School of Estate(www.schoolofestate.com) is thrilled to have graduated its latest cohort of Real Estate Entrepreneurs from the highly acclaimed Real Estate Business Course(REBC). The 54th Stream Graduation Ceremony took place on Thursday, March 9, 2023 at Maryland, Lagos, where graduates, their networks and esteemed members of the real estate community gathered to celebrate this monumental occasion. Two days before ...

The Pension Reform Act 2014 has provision for house ownership. Section 89(2) of the Act provides that “Notwithstanding the provision of sub-section (1)(c) of this section, a Pension Fund Administrator may, subject to guidelines issued by the Commission, apply a percentage of the pension assets in the retirement savings account towards payment of equity contribution for payment of residential mortgage ...

Despite the closeness of plants to Lagos, cement prices are shooting beyond the roof in reaction to price hike by the manufacturers recently. While the producers have blamed the increase on the high exchange rate, cost of spare parts and other logistics, builders and other prospective homeowners are worried that they are not enjoying the benefit of nearness to raw ...

Amid growing public concern over housing prices introduced by the Federal Government under the National Housing Programme (NHP), private developers have picked holes in the scheme. They argued that the programme is not affordable, justifiable as it is beyond the low-income earners and may breed corruption among civil servants. They said the government should concentrate on making policy than engaging ...

Finding a real estate property in Nigeria is a herculean task. This is even more relatable for people in major cities across the country, where the demand far outweighs the supply. First, you have to find the time out of a cramped schedule to go inspecting. Then there are the issues of non-responsive agents whose listings are not available on ...

Nigerian multinational telecommunications company, Globacom Limited, commonly known as Glo, will reconstruct the 64 kilometres (km) Ota-Idiroko road in 2022. The Minister of Works and Housing, Mr. Babatunde Fashola, confirmed this development in a statement issued on Wednesday. He explained that the road would be rehabilitated by the company under the federal government’s tax credit scheme, adding that the contract, ...

Kazeem Abolore S, a renowned chief tenant in Lagos was chased out of his apartment for living in the house for 8years. According to the story he posted on Facebook, his landlord’s grand-daughter just woke up one day, came with police men to arrest he and his wife. Read his story below. This day last month, two remarkable things happened ...

Heinrich Boll Stiftung, (HBS) Nigeria and Arctic Infrastructure are proposing the Mixed-Income Housing Model as a strategy to address the housing deficit in Lagos and to ensure availability of adequate and affordable housing to low and middle-income earners in the State. The organizations, through a draft bill, titled ‘A Bill for Mixed-Income Housing development in Lagos State’, want to contribute ...

The Minister of Works & Housing, Mr. Babatunde Fashola, has put a lie to the stereotype that the country has 17 million or 22 million housing deficit. According to Fashola, who debunked the claim Friday at Lafarge Africa Plc quarterly webinar-Concrete Ideas-, there is no proven record or data to support that claim. Speaking on its theme, New Solutions for ...