Tag Archives: recession

Experts in the real estate have expressed worry that the sector which recorded growth of about 2-3 per cent towards the end of 2018 has receded due to uncertainty in the country. The Nigerian Bureau of Statistics (NBS), in its Q1 2019 report, revealed that the GDP growth for the real estate sector was 0.93 per cent. With the existing ...

Do not dabble into “timing” the market. From my wealth of experience in real estate investment, “timing” the market is too risky a venture for any real estate investor. To avoid this practice, you need to have a sound knowledge of the market that you are in, and you also need to know the stage at which the market is ...

Fresh facts have emerged that the built environment is still battling to contend with over N2billion losses recorded during two years of Nigeria’s economic recession. Findings indicated that the losses emerged from underpriced and vacant properties mostly within Abuja, Lagos and Port Harcourt. It was also revealed that the real estate sector is yet to recover from the loss compared ...

Property management is an act of inter-mediation between owners and occupiers on issues affecting the parties arising from ownership and occupation of buildings. It is a conscious process of guiding and tailoring an investment in land into profitable venture. Its main concern is the optimization of the owners’ investment. On the other hand, an economy is said to be recessed ...

Nigerians must use the hard lessons of the recent economic recession to build a sustainable economy based on diversification away from oil and the oil curse. This is according to The Minister of Industry, Trade and Investment, Okechukwu Enelamah, who gave this advice on Monday at a business dinner in honour of the U.S. Deputy Secretary of State, John Sullivan. ...

Proper financing is all-important to successful property investment and development. In this article we take a critical look at the challenges of financing real estate developments in Nigeria. The term ‘development’ as defined in section 2(1) of the Nigerian Town and Country Planning ordinance 1948, states that “development in relation to any land includes any building or rebuilding operation and ...

Mr Hamiliton Odom, vice chairman, Nigerian Institute of Estate Surveyors and Valuers, Rivers State chapter,  has said that a robust population was pivotal in delivering  the Nigerian economy from recession. According to The Tide, Odom, also the principal partner in Hamilton Odom & Co Estate Surveyors and Valuers, noted “we are lucky that we have a robust and vibrant population ...

According to This Day, The president of Nigeria Institution of Estate Surveyors & Valuers (NIESV), Dr. Bolarinde Patunola- Ajayi has called on the Federal Government to diversify and embrace the real estate sector to combat recession. He said the nation has not succeeded in unlocking the wealth in the sector noting that it is the only robust solution to grow ...

“The Federal Government is trying many options to pull the economy out of recession. The Finance ministry believes that mortgage institutions have the wherewithal to fund the housing sector as part of ways to revitalise the troubled economy and create jobs. Stakeholders also believe that stability in the exchange rate and the provision of more funds to the mortgagors will ...

Business Day reports that Developers, investors, high net-worth individuals, private wealth managers, asset management top executives and real estate investors’ trust who will be gathering at a breakfast session in Lagos next week have been promised of exciting and fulfilling moment as Pat Utomi, an economist and thought leader, will be offering insights on the economy and how it impacts ...