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Ripple effects from the Central Bank of Nigeria’s increase of the Monetary Policy Rate (MPR) is expected to affect cost of living, which will impact on property prices and home financing. The apex bank recently raised the benchmark interest rate by 150 basis points from 11.5 per cent to 13 per cent. MPR is the

Reintroduces site, services scheme with 50,000 plots in each state • Targets N3.53trn public investment in five years With an estimated 1.6 billion people (one third of the world’s urban population) expected to face affordable housing challenge by 2025, the Federal Government has launched a five-year National Development Plan (NDP) medium-term blueprint designed to unlock

Real estate guide for flood-prone areas as rain humbles Lagos Residents and real estate investors in Lagos are still counting losses following the heavy downpour and the accompanying flooding that submerged communities and sacked many homes in the city last weekend. As a coastal city, Lagos has many flood-prone and low-lying areas, lending it easily

The opportunities created amid the COVID-19 pandemic has raised optimism that the residential, construction, and industrial segments of real estate market are to drive the sector’s growth, while yielding good returns for developers, investors and landlords, according to Nigeria Real Estate Report 2021. The report by Ubosi Eleh and Company, said the demand for residential

In the real estate industry, Nigeria is experiencing rapid urbanization, with an estimated annual national population growth rate of just over 2% and an annual urban population growth rate of about 4%. The population is becoming more and more focused to the urban areas, towns and cities with just under 50% of the population living in

If concerted efforts are not urgently put in place to address Nigeria’s housing deficit, which has continued to increase astronomically, it may grow to 25 million by the end of this year. This was revealed by the chairman, organising committee of the Real Estate & Construction Expo tagged ‘RECON Expo 2021’, Dr. Somadina Anene, at

  Worried that real estate transactions and investment in Nigeria worth over N7 trillion are in dispute, operators have canvassed the use of mediation as alternative dispute resolution mechanism in the sector. Findings show that there are over 20,000 civil and commercial disputes relating to real estate in Lagos State on yearly basis while many

Technology has a vast influence on the way things are being done and humans have been constantly adapting to it. The ‘Internet of Things’ or IoT has been making waves and it does come with quite a lot of jargon. It connects machine to machine through networks. To put it in simple terms IoT is

Meets Lagos Assembly on funding, land allocation Fresh concerns loomed large in the housing industry last week as estate surveyors called on policymakers and government to refocus the economy, review policies and laws inimical to housing development. The body reiterated its demand for review, outright abrogation and replacement of the Land Use Act (LUA), saying

Governor Babajide Sanwo-Olu of Lagos State has said, his administration will boost the existing state housing scheme with 3,004 units of low-income housing by December. Meanwhile, expert and stakeholders have stressed the need for governments at all levels to provide affordable housing for the masses in view of the increasing population in Lagos State. Sanwo-Olu