Tag Archives: real estate

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 ...

To invest can be difficult for people who are barely able to get by on their salaries, especially in a country like Nigeria with a high rate of inflation and a currency that is susceptible to devaluation. The typical Nigerian is struggling to make ends meet. In 2021, the national minimum pay for federal employees in Nigeria was set at ...

A Group of Civil Rights Associations has called for the immediate repeal of the Land Use Act in the country’s constitution saying the Act was impeding the development of real property in the country. The collision of three civil society organisations (CSOs) advocated an amendment of the Nigeria Constitution to exclude the Land Use Act from the document. After a ...

In the property market where it has become increasingly difficult to obtain long-term financing, property developers are turning to alternative funding to shore up their portfolios. One of the new concepts being adopted is known as unitisation, which offers discerning investors easier entry into commercial real estate investment. The model also gives investors gateway to diversify their property portfolio because ...

Notwithstanding the positive outlook for the Nigerian property market in 2020, the COVID-19 pandemic has impacted negatively on the market, leaving property investments in disarray. With the disruption, home buyers are still hesitant to buy. For them, the period was not ripe to invest as they don’t know how long the pandemic will last and are adopting a survival strategy. ...

The reigning winner of Big Brother Naija, Mercy Eke has officially announced the launching of her real estate company, Lambo Homes. Taking to her Instagram handle, she announced to her fans and other social media users. In her post, Mercy Eke revealed that she had always wanted to own a real estate company for the past ten years and feels ...

The President, Architects Registration Council of Nigeria, Sir Oladipupo Ajayi, says Nigeria’s real estate industry offers great opportunities yet to be explored. Ajayi said bridging the housing gap in many of the country’s urban centres could create jobs for professionals in the built environment. The ARCON president, who spoke with journalists ahead of his 66th birthday, described Nigeria as a ...

As the coronavirus continues to spread, there is fear and trepidation in the air among real estate community, especially as travel and other economic activity have slowed or stopped. Their apprehension also arose that several sectors have taken a heavy beating, except real estate. And with social distancing, house showings may slow down while pullback by buyers will take momentum ...

A property developer is predicting that a surge in demand for residential and commercial accommodation in Imo State is expected to trigger heightened activities in housing estate developments, with special attractions for Owerri and its environs, as well as the Southeast in general. Chima Ifekwe, vice president of JLN Builders Nigeria Limited, an affiliate of JLN Construction Services, LLC USA, ...

According to the provision of section 4 (1) (e) of the FCT Act, the FCDA is charged with the responsibility of the coordination of the activities of all ministries, departments, and agencies of the Government of the Federation within the Federal Capital Territory. This provision provides the window for the requests by Federal Ministries, Agencies and Departments, including foreign organizations, ...