Real Estate News

The President of Abuja chamber, Mr. Tony Ejinkeonye, emphasized the peculiarity of Abuja as the new Federal Capital of Nigeria as the fastest growing city in Africa both in terms of population and infrastructural development, especially in the real estate sector and urged their hosts to key in as their investments are not only safe but are guaranteed high returns. He ...

As affordability levels in South Africa have deteriorated in the recent years, developers from South Africa are eyeing real estate markets in neighboring countries.  However, Xenophobic attacks in Durban recently may also deter foreign investment in South Africa’s property markets in the short term, if not the long term, experts believe. A fast-growing population is the key reason why international ...

A report by Knight Frank research estimates that Nigeria is likely to be one of the continent’s strongest property markets, stronger even than South Africa as it will be home to a quarter of the total African population. Nigeria’s economy has also rebounded and grew to nearly US$892 billion in 2014. According to the Knight Frank research, Nigeria’s Lagos, Tanzania’s ...

Wealthy Africans are investing in some of London’s most upscale real estate properties with some reportedly spending as much as $37 million on houses alone. These wealthy investors having a considerable impact on London’s property market and they mainly come from just six countries of Nigeria, Ghana, Congo, Gabon, Cameroon and Senegal. Property experts, Mayfair, Kensington and Chelsea say African ...

The former National president of the Nigeria Bar Association, Mr. Olisa Agbakoba has pointed out housing as one of the many sectors with issues requiring urgent governmental attention. He therefore advised the president-elect, General Muhammadu Buhari (rtd), to borrow the strategies of the 32nd president of the United States, President Franklin Roosevelt, who is renowned for his programme for relief, ...

Purpose THE Mortgage and Property Law 2010 established the Lagos State Mortgage Board (LMB). The law outlines the functions of the agency. Some of these functions include generating a conducive environment for citizens of the state to secure affordable mortgages or charges to enable them purchase their own homes; advise the Governor on the funding, administration and structure of the ...

Contractors handling Millennium Development Goals (MDGs) projects at the Federal Ministry of Lands, Housing and Urban Development blocked the entrance gate to the headquarters of the ministry at Mabuchi, Abuja, preventing vehicles and staff from going in and out of the office and demanding the payment of the arrears of the 2012, 2013 and 2014 contract sums of completed projects ...

CPAN – Cement producers association of Nigeria, called on the President-elect, Muhammadu Buhari, to slash the price of cement from the current N2, 200 to N1, 000 per bag. CPAN made the request in a congratulatory message sent to Buhari and Prof. Yemi Osinbajo for emerging victorious at this year’s presidential election. They noted that the move would serve as ...

Could the high US Dollar to Nigerian Naira exchange rate be a reason for the sudden increase? Nigerian homebuyers are flooding the Atlanta housing market and paying top dollar. Within the last few years, the state of Georgia’s housing market has successfully attracted international investors especially from China and Australia; however, one company, Lux Property Investment Group (LPIG) is reporting ...

Just Shelter & Allied Products Limited has developed 14 blocks with six three-bedroom flats in each block at David’s Court Estate Arepo, Ogun State. In an effort to meet the housing needs of Nigerians through mortgage creation, Resort Savings and Loans Plc., a mortgage bank with headquarters in Lagos begins a business collaboration with Just Shelter & Allied Products Limited ...