Real Estate
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How new Finance Act will impact real estate, by experts
- April 29, 2022
- Posted by: admin
- Category: Real Estate
No CommentsProfessionals 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,
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Nigeria’s luxury home markets soared in 2021, record increase in sale prices
- April 8, 2022
- Posted by: admin
- Category: Real Estate
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
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Concerns as migration widens Lagos housing deficit
- March 18, 2022
- Posted by: admin
- Category: Real Estate
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.
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As housing prices continue to rise, south-south rent hits all-time high
- March 4, 2022
- Posted by: admin
- Category: Real Estate
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
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Why cement price is highest in Kano, Lagos markets
- February 4, 2022
- Posted by: admin
- Category: Real Estate
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
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Facility managers may raise service charges as energy bills skyrocket in estates
- January 28, 2022
- Posted by: admin
- Category: Real Estate
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
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Real estate remains hedge against inflation
- January 21, 2022
- Posted by: admin
- Category: Real Estate
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,
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Lagos residents will pay monthly rent to landlords as from 2022, says Sanwo-Olu
- December 17, 2021
- Posted by: admin
- Category: 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
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Insecurity triggers demand for gated communities in Abuja, others
- November 26, 2021
- Posted by: admin
- Category: Real Estate
The recent surge in insecurity across major cities is inducing preference and demand for gated communities. The development has created opportunities to reduce vacancy rate and open up further investment opportunities to private developers in Lagos, Abuja, Onitsha, Ekiti, Kaduna, Ondo, Zamfara, Imo, Anambra, Lagos and other cities. Gated communities are residential housing estates with
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Building Collapses in Lagos State: A Call For Subsidence Monitoring & Deformation Study of High Rise Structures
- November 12, 2021
- Posted by: admin
- Category: Real Estate
The Nigerian Institution of Surveyors (NIS) Lagos State Branch is greatly saddened by the unfortunate death of scores of people at the construction site on Gerrard Road, Ikoyi on the 1st of November 2021. We condone with the Government and the people of Lagos State the irreplaceable loss of souls. This has become rather prevalent going