Posts by Hutbay Team

1
Ryban Court – Luxury Terraces in Ibeju-Lekki
2
NIESV Advocates Establishment Of Real Estate Transaction Agency
3
Green Light for N844bn 4th Mainland Bridge
4
FG Earmarks N40bn For Affordable Homes as Housing Crisis Looms
5
2016 Outlook on Lagos Housing Development
6
How To Avoid Fraudsters When Buying or Renting a Property
7
Richard’s Court, an Elegant Development in the Heart of Maryland
8
Things You Should Know Before Renting Your First Apartment
9
Opulence and Elegance at G.C.C, Gbagada
10
How to Buy and Sell a Home at the Same Time

Ryban Court – Luxury Terraces in Ibeju-Lekki

Investment in property along the Lekki-Ajah corridor continues to yield a great return for investors year-on-year. Lekki is the hotbed of real estate development in Nigeria at the moment and it is going to be so for the foreseeable future. Indeed, it is said to be the future of Lagos, hence it’s been dubbed the “New Lagos”.

Investing in property now in the Lekki-Ajah axis is one of the smartest moves any investor can make. However, finding a good developer who will not compromise quality but will deliver great results on time is key when it comes to buying property along that axis. Read More

NIESV Advocates Establishment Of Real Estate Transaction Agency

The newly elected president of Nigeria Institute of Estate Surveyors and Valuers (NIESV), ESV Bolarinde Patunola-Ajayi has called on the federal government and State governors to establish Real Estate Transaction department to avoid illegal extortion by quack agents and surveyors.

Briefing newsmen in Abuja shortly after the maiden Council meeting since his assumption of office, he noted that the agency already functional in Lagos State would checkmate the excesses of non-registered agents as provided by the law. Read More

Green Light for N844bn 4th Mainland Bridge

Following a promise made by the Lagos State Government last month, the Memorandum of Understanding (MoU) to kick-start the construction of the 38km 4th Mainland Bridge was signed on May 25th, 2016.

The 4th Mainland bridge will be completed through a Public Private Partnership (PPP) initiative and is expected to cost N844billion. It will be financed by Africa Finance Corporation, Access Bank as well as other private investors who have already signified interest, while Visible Assets Limited will act as the coordinating firm. The new bridge will accommodate three toll plazas, which are still being tested for financial viability. Completion is expected in three years (±2019/2020, depending on when construction starts). Read More

FG Earmarks N40bn For Affordable Homes as Housing Crisis Looms

The Federal Government has earmarked N40 billion in the 2016 budget to implement a comprehensive housing development plan for Nigeria to avert a housing crisis in the country. President Muhammadu Buhari disclosed this last week, in Abuja, at the 35th Annual General Meeting and international symposium of Shelter Afrique, a pan-African real estate finance institution.

Buhari, who was represented by the Minister of the Federal Capital Territory, Muhammed Bello, said for Nigeria to adequately avert a housing crisis in the next four years, it must consciously build one million housing units annually to reduce the current national housing deficit estimated at about 17 million units. Read More

2016 Outlook on Lagos Housing Development

The real estate industry across Nigeria in Q1 of 2016 has performed generally below market expectations. Some attribute this to the prevailing economic conditions in the country especially the continued fall of the Naira against the Dollar, the limitation on access to forex placed by the government and the yet-to-be signed 2016 budget.

Download the ReportNotwithstanding the gloomy result of Q1 2016, Lagos, due to its sheer size, demands and economic leverage, will experience growth in 2016.

In this report, prepared by Residential Actions Company (RAC), the author focused on the Lagos real estate market and put pieces together than can be of great use to the real estate investor.

Download the report here: Spotlight On Lagos Housing Development Market [PDF]

How To Avoid Fraudsters When Buying or Renting a Property

Fraudsters are everywhere. They have been in virtually all field of human endeavour since Adam. The goal isn’t to retire them from their stock in trade. It isn’t to get rid of them in the real estate sector either. The goal is to arm as many as possible with information that will put them on the safe side. To put them in the know of the tell-tale signs they should be on the lookout for whenever they want to buy or rent a property. So how can you avoid fraudsters when buying or renting a property?

Do Your Due Diligence

The world has gone digital. Most estate agents now have websites. Property websites like Hutbay make finding an agent and knowing more about each of them a breeze. With few clicks, the legitimacy of a broker can be easily verified. All thanks to technology. Read More

Richard’s Court, an Elegant Development in the Heart of Maryland

There are a number of luxurious apartments around Lagos, but their prices can be very expensive, far above what most middle class can afford. The property location is also important. Richards Court, a new development in Mende Maryland, Lagos, however, is an exception. It is a luxurious apartment, located in one of the most developed areas in Lagos and it is quiet affordable.

Developed by Richards Brainsworth Limited, one of the most prolific developers in Lagos. Richards Court is a fantastic and competitive piece of modern building. It is a gated and fully-serviced residential estate with all the features and amenities you would expect from a standard estate. Read More

Things You Should Know Before Renting Your First Apartment

So, you are finally ready to rent your very first apartment? You feel you are now ready to take on that responsibility? This will make you earn the respect of many, especially your friends who are still putting up with friends, colleagues or staying with relatives or parents and come across as mature to all. Before donning this maturity, here are a few things you need to know about renting your first apartment:

All Landlords Are Not The Same

As humans, we come in different shapes, sizes, complexion, and temperaments. As our faces are different, so are our character, personalities and biases. The fact that you’ve seen brash and uncompassionate landlords doesn’t mean all landlords are brash and uncompassionate. Read More

Opulence and Elegance at G.C.C, Gbagada

There is a new development in downtown Gbagada, Lagos. It’s being developed by Godmade Group and the development is aptly named Godmade Connect Courts (GCC). Located at Alhaja Ganiyat Daodu Street, Harmony Estate, Ifako, Gbagada, the developer said it is a first of its kind in the sense that it is a gated community within a gated community.

Gbagada is noted for its tranquil middle-class lifestyle. The Godmade Group have taken it upon themselves to create luxurious communal living while still holding its lavish and cozy feel by using the highest quality Italian and Spanish materials, keeping in mind the need for environmental preservation and restoration, all at an affordable price. Read More

How to Buy and Sell a Home at the Same Time

Culled from Realtor.com

Ah, to be a first-time home buyer again: How easy it was to buy a home when you weren’t carrying another mortgage on your back!

If you’re looking to graduate from first-timer to repeat buyer, you know things are about to get much trickier. Unless you’re a bona fide house collector, you’ll have to sell your home in order to buy anew—adding a whole separate layer of anxiety to what you already know is a stressful home-buying process.

In an ideal world, you’d buy a new home, move, and then, and when all the dust settles, deal with the turmoil of selling. But for most people, that’s totally unrealistic. Not only does it cost significantly more, since you’ll be paying two mortgages, but sellers might be quick to judge if you’re holding on to your current home. Read More

Copyright © 2015. Hutbay Limited. All rights reserved.