Real Estate

Following the President Muhammadu Buhari’s signing into law the Money Laundering (Prevention & Prohibition) Bill, 2022, property brokers, estate surveyor and valuers, appraisers and other practitioners have been charged to imbibe the tenets of the law and halt illegal cash flow through the real estate industry. Specifically, they were urged to ensure due diligence on

Rising inflation in Nigeria coupled with growing demand have pushed up rent for 2-bedroom apartments by 200 percent in the last five years, Bismarck Rewane, CEO, Financial Derivatives Company, has said. Within the same period, Rewane, who spoke at the monthly Lagos Business School Breakfast Session for May, noted that official inflation has increased by

Professionals have said that the Finance Act 2022 is a blessing in disguise for the real estate industry, as it will provide leeway for real estate investors to explore relevant incentives and reduce tax burdens to grow their investments. The President Muhammadu Buhari assented to the 2021 Finance Bill, thereby introducing the 2021 Finance Act,

Experts foresee increase in demand The Nigerian luxury real estate market is getting a significant boost from increasing number of wealthy individuals, who are seeking to own multiple homes and new portfolios. The luxury residential market increased last year as a result of the impact of the COVID-19 pandemic, as many in the working class

The daily influx of people from various parts of Nigeria and beyond has widen the housing deficit in Lagos, piling up pressure on existing infrastructure and worsening stress in the city, stakeholders have said. Over 600 people move to Lagos every day and less than 50 percent of them go back, a government official said.

Industry watchers say rent in the South-South has risen across the region- at its fastest clip in decades, following an increase in the inflation rate that impacts building materials and construction cost. Cost of rent rose by more than 50 per cent on rehabilitated buildings, while the new buildings increased by 100 per cent in

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

These are not the best of times for facility managers as increasing energy prices have shot up maintenance cost of estates in the country. The rising cost, which is due to increase in price of diesel from the pre -December rate of between N250 – 300 per litre and over N350 per litre in the

A new report by a Lagos-based real estate firm, Octo5 Holdings limited has revealed that the fundamentals of the Nigerian economy remain good for real estate investment despite increased insecurity and lack of effective management of fiscal systems. The report, which critically examined how inflation, naira devaluation and high exchange rate impacted the real estate,

Lagos State Governor, Mr. Babajide Sanwo-Olu, has disclosed that a new policy for monthly tenancy on property occupancy would commence in Lagos State in 2022. The Governor said this at the Lagos Real Estate Market Place Conference and Exhibitions organised by the Lagos State Real Estate Regulatory Authority (LASRERA) this week. In a statement signed