Real Estate

Summary: It’s a mixed bag of fortunes across different markets Zambia’s currency is currently featuring as the world’s best performing currency and among Africa’s most powerful currencies. This follows renewed optimism into the country due to the new administration that has seen the country post impressive results from its currency featuring as one of the

The Lagos short let market has grown by 263% over the past 3 years. This growth was mainly underpinned by rising demand for both long stay and short stay apartments in the wake of the pandemic according to the Lagos Short let Report by Pan-African real estate data company, Estate Intel. Ikoyi, Victoria Island, Lekki

The first half of 2022 saw a period of increased real estate market activity with the sector building on the 2021 economic growth momentum. The International Monetary Fund noted that Nigeria’s economic recovery continued to strengthen against the backdrop of the agriculture and services sector with GDP growth reaching 3.6 per cent (y/y) in Q1 2022.

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