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Tag Archives: recession

The Effect of Recession on Property Management Practice in Nigeria


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 ...

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Lessons Nigeria must learn from Recession – Enelamah

economic recession

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. ...

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The Challenges of Financing Real Estate Developments in Nigeria

Financing real estate developments

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 ...

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What You Should Know About Real Estate Investment Cycles

real estate investment cycle

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 ...

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Real Estate: ‘Population, Panacea To Recession’

Stakeholders urge SON to create specialized dept for building materials

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 ...

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Real Estate can pull Nigeria out of recession- Patunola- Ajayi

New land survey fees begin in Lagos, threaten homeownership

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 ...

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Recession: Housing sector funding to the rescue

Recession: Housing sector funding to the rescue

“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 ...

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Utomi to offer insights on economy as Fine & Country gathers real estate investors

Fine and country gathers real estate leaders

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 ...

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Economic uncertainty filters into Lagos house prices

Lagos house prices and economic recession

The Guardian reports that the Nigerian economy continues to suffer one of its worst recessions in recent history. Transaction in the Lagos real estate sector have remained slow since last year culminating in a fall in Lagos house prices. According to the Nigeria Bureau of Statistics (NBS), the Gross Domestic Product (GDP) recorded negative growth in the first two quarters of ...

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Recession: What Landlords Should Know Before Renting!


Staying afloat or ahead of the pack in a hopelessly recessed economy can sometimes be likened to Daniel leaving the Lion’s den unscathed. We are in a time where apartments can remain unoccupied for months; a period when landlords should be up on their toes concerning their investment. This article highlights what landlords should know before renting. The times are ...

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