Posts by Guest Contributor

1
Seven Tips About Home Finance and Real Estate Investing
2
Beyond Banners – Real Estate as a Career
3
Lagos State Unveils Urban Development Projects for Megacity Initiative
4
Thinking of Getting a Mortgage In Nigeria? Important Things You Should Know
5
Lagos Ranked Among Least Liveable Cities Globally
6
Nigeria falls to 4th Position in African Retail Index
7
The Top Contractors Changing Lagos’ Office Skyline
8
Police to Build Housing Units for Junior Officers
9
Types of Mortgage Loans
10
What Is Your Home Decoration Saying?

Seven Tips About Home Finance and Real Estate Investing

Home loans are the top home financing options for enabling people to fulfill the dream of owning a home. While financial institutions are willing to lend, you need to be aware of how this type of home finance works to avoid disappointment. Familiarizing yourself with a financial product is essential before committing to a transaction or signing a legally binding document.

1. Loan Eligibility

It is important to find out what the specific lending criteria is. Factors that affect your eligibility generally depend on the terms and conditions of particular lenders. Some lenders are more stringent than others and factors range from existing liabilities to your financial capability. Read More

Beyond Banners – Real Estate as a Career

This article was written by Chinwe Ajene Sagna and it first appeared on JLL’s blog.

There is a general misconception on careers in real estate. I recently spoke to a group of young people who spoke derisively about the profession, describing it as “hustlers who don’t even know the landlords and are going from house to house looking to make small change.” There are a number of these informal estate agents who at best have tenuous relationships with property owners and for the most part act as go-betweens between tenants and principal agents.

These agents interact with many people and end up serving as the public face of the industry, but this is not a true representation of our profession. When you go just below the surface, you find that there is more to a real estate career than hanging banners advertising a property “To Let” or “For Sale”. Read More

Lagos State Unveils Urban Development Projects for Megacity Initiative

In a communique released on March 15th 2016, the Lagos State Government (LASG) unveiled plans to partner with suitable entities on a Public Private Partnership basis for the development of shopping malls, hotels, recreation parks, Zoos, theme parks and residential apartments. The LASG requested that entities with track record express interest in specific sites across the city, which are now available for development.

The effort is part of a Megacity Initiative where Lagos State is pushing to provide infrastructure and facilities that will enable the city cope with its large population. Read More

Thinking of Getting a Mortgage In Nigeria? Important Things You Should Know

Housing delivery system in Nigeria is a combination of many interrelated components which include land, infrastructure, building materials, policies, building regulations and more importantly the finance component. Finance in housing delivery is very important because of the huge financial requirement for housing production. Many researches have been conducted along this line by scholars in the building industry and suggestions were made on the need to strengthen the cooperative housing system in Nigeria in order to ameliorate problem of housing finance. Read More

Lagos Ranked Among Least Liveable Cities Globally

New analysis from the Economist Intelligence Unit (EIU) has shown that Lagos maintained its position at #137 in a survey examining liveability conditions in 140 cities across the world. Similar to 2014, Lagos ranked with the likes of Damascus in Syria, Dhaka in Bangladesh and other cities in Zimbabwe and Libya.

The liveability score is reached through analysis of five category weights, that consider factors like Stability, Healthcare, Culture and Environment, Education and Infrastructure. These indicators are scored and weighted to produce a rating, where 100 means that liveability in a city is ideal and 1 means that it is intolerable. Lagos scored 39.7. Read More

Nigeria falls to 4th Position in African Retail Index

A.T. Kearney’s 2015 African Retail Development Index (ARDI) placed Nigeria in 4th position, two places lower than its ranking in 2014 as a result of comparatively low true spending and difficult business environment. The Index covers the top 15 retail markets in Sub-Saharan Africa (SSA), ranking each on a 0 to 100 point scale, where a higher ranking means greater urgency to make an entry into the country. The scores were based on market attractiveness, country and business risk, market saturation and time pressure. Read More

The Top Contractors Changing Lagos’ Office Skyline

The amount of office space under construction continues to grow as developers increasingly make bets that the requirements for prime office space in Lagos will rise. Some of the contractors/construction companies helping these developers build their assets have emerged as market leaders and this infographic seeks to illustrate this. Based on available data collected, this infographic ranks the contractors changing Lagos’ office skyline by number of office projects and size of leaseable office space under construction/constructed.

Over the past 5 years buildings like Churchgate 1 & 2, KPMG Tower, Eko Tower, Sapetro Tower, NITEL & Union House have defined Lagos’ office property skyline. New office development projects like the Civic Center Tower, Heritage Place, The Wings and Nestoil Tower among many others coming up across town are beginning to transform the city’s skyline. Read More

Police to Build Housing Units for Junior Officers

On Wednesday June 4th, 2015, the Inspector-General of Police (I-G), Mr Solomon Arase, mandated the Police Works Department to build 6,000 units for the junior officers in the force. Arase gave the mandate at a one-day workshop held for officers of the works department in Abuja.

The I-G, however, said that corrupt officers would not benefit from the project. He said 500 units of the houses should be located in each of the 12 Police Zonal Commands across the nation. Arase, who mandated the department to complete the houses in six months, said it was part of efforts to improve the welfare of junior officers. Read More

Types of Mortgage Loans

A loan, as we know are funds that organizations such as banks, lend to businesses/ individuals for different reasons. Applying for a loan means using Other People’s Money which is a very big deal in the world of financing. Getting a loan differs with every organization, there are however some processes you have to go through before you are deemed fit enough to be given that loan.

It is vital to prove that you are an upstanding citizen, honest and of high integrity. A dishonest person will often not be granted a loan.
Banks are in the business of giving loans and the more they loan to honest borrowers, the more profit they make. Read More

What Is Your Home Decoration Saying?

Sometimes we ignore the little things that matter in making our home right. The deal doesn’t just end at buying/renting a house. If you are human, you would care about what the inside of your home looks like and how it makes you feel. Questions like Is it welcoming? Is it comfortable? What mood does it portray? Would someone walk into your house and feel depressed by the colour setting? Or do you want someone to walk in and feel a sudden lifting in their spirits?

Perhaps you might be thinking that none of these is important, you might be thinking it does not matter but guess what? it does. Interior decoration is more important than we think. In fact, it is in a way, therapeutic. Read More

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