Category - Industry

News and happenings that matters in Nigeria’s real estate industry

7th Edition of The Nigeria Real Estate Summit and Expo (NIRESE) Holds on July 18th
How To Make ₦10M Per Deal In Real Estate Business In Nigeria
What to know before buying land in Nigeria.
Ibadan Real Estate Market to Experience Boom
Is Ibadan Nigeria’s Next Real Estate Frontier?
2018 Real Estate Trend Watch
Tenant Rights
Benefits of Buying a Home
Reasons Why You Should Be Investing In Land
Nigeria’s Real Estate to Rebounce in 2018

7th Edition of The Nigeria Real Estate Summit and Expo (NIRESE) Holds on July 18th

About The Nigeria Real Estate Summit & Expo (NIRESE)

The Nigeria Real Estate Summit & Expo (NIRESE), in its 7th edition, is Nigeria’s most important real estate event and gathers the most influential players from the industry for a full day of trade, networking and learning through premium conferences and dedicated exhibition zones.

NIRESE 7.0 is scheduled for July 18, 2019 at the Eko Atlantic City, (Former BarBeach), Ahmadu Bello Way, Victoria Island-Lagos,

The Exhibitions:

With over 80 exhibitors, more than 2,500 ready-to-invest visitors and N7billion worth of deals, no other event offers the scope of sales, networking and branding opportunities as the Nigeria Real Estate Summit and Expo.

The Conference:

Over 40 speakers, 12 plenary sessions and more than 400 delegates will set the stage for a summit that would deepen on-going discussions, stimulate measurable actions and provide the most inclusive and
sweeping answers to real estate issues in Nigeria.

The Awards:

Nigeria’s Top 50 most influential Real Estate Personalities are honoured in a night of glamour, comradeship and deference.

Date: July 18, 2019
Venue: Eko Atlantic City, (Former BarBeach), Ahmadu Bello Way,

Victoria Island-Lagos
Time: 10am-5pm
Entry: Free

Don’t forget to enter the raffle to win exciting prizes at the event!


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How To Make ₦10M Per Deal In Real Estate Business In Nigeria

If there is any business in Nigeria that is truly lucrative and extremely profitable, it has to be Real Estate business in Nigeria. Most of the top billionaires in Nigeria are real estate investors. The business is a money spinner to the highest level. Real Estate is currently booming in Nigeria and people are making millions in it. Today, we want to take a closer look at the business and see how you can invest in this sector of the economy (irrespective of how much you have) and make serious profit.

One thing very good about real estate business in Nigeria is that the investment opportunity is so diverse that there seem to be something for everyone. Anyone who wish to invest can invest whether he has thousands or billions of naira, you can even invest without a dime in your pocket. Let us see how it works.

Profit Potential in Real Estate Business

Before we proceed, we want to look at the profit potential in real estate business in Nigeria. I bought a plot of land in Ikorodu area of Lagos State in 2011 where I had wanted to develop for small hotel. I paid ₦500,000 for the land excluding some minor egunje to the boys.

In 2013, I changed my mind and decided to sell it. When I asked the estate agents how much property was going in that area, they told me the current price as at then was two million naira. And that my own which is very close to the main road will go for between 2.5 to 3 million naira. If I had bought five plots that was offered to me for 2.5 million then, I would have made ₦10,000,000 from that single transaction!

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What to know before buying land in Nigeria.

When purchasing land or property in Nigeria, a prospective purchaser of any property (or normally his solicitor) should have two main concerns:

First, he or she must be sure that the vendor of the property is really entitled to sell it. Thus, the buyer must first insist that the vendor proves that his legal title to the land is good and that he can pass to the purchaser the land/ property which he is offering to sell.

Secondly, the purchaser will want to know whether any third parties have rights to the land which might interfere with his intended use of it. These third-party rights might include covenants restricting usage, a right of way, tree preservation order, or even mortgages.

Concerns about these matters will lead the purchaser or his representatives, to make extensive inquiries before the purchase of the property is finally concluded.

There are however many factors one needs to consider before buying a land in Nigeria these ranges from:

i. The size of the land,
ii. The soil type,
iii. The location of the land which is very important,
iv. The purpose which the land will be used for,
v. Accessibility of such land i.e proximity to access road,
vi. The price of the land,
vii. The legal papers available in respect of the land,
viii. The environment, as well as the security conditions of the area, should be well evaluated before engaging in such a transaction.
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Ibadan Real Estate Market to Experience Boom

On January 24, 1848, gold was found in Coloma, California. Before this time, California was a little known state with small population and very weak economy. The news of the gold discovery, however, changed the fortune of California for good, propelling it to become the richest state in America.

Ibadan and environs are about to witness similar phenomenon. With the Ibadan-railway network set for completion, we are about to see massive influx of people, work and money flock into Ibadan.  Arguably, the most important sector that will be positively impacted is the real estate sector.

Consequent upon the completion of the Lagos-Ibadan railway project which is slated to commence commuter services by the 1stt quarter of 2019 as recently announced by the Nigerian federal government, an unprecedented increase in housing demands is projected in Oyo State- Ibadan specifically. Read More

Is Ibadan Nigeria’s Next Real Estate Frontier?

The emergence of Ibadan as a real estate hub in recent years has been a long time coming. Rightfully, Ibadan, Nigeria’s “Premier City” which has popularly been referred to as the City of Brown Roofs has taken laudable strides in the real estate sector in recent years. A series of unprecedented developments in the history-laden city heralded this new development.

Ibadan today boasts of an array of modern shopping malls springing up in and around the city. Also, the ease of traffic on the major roads within the Ibadan metropolis has been the envy of many neighboring states for decades. Unlike in other states with hellish traffic, Lagos especially, commuters in Ibadan move around the city with relative ease. Read More

Tenant Rights

Tenant rights are more important than you probably realize and the first step towards protecting your rights as a tenant is to know what those rights are. Without knowing these rights, you put yourself at the mercy of landlords and caretakers in Nigeria. Before we delve into your rights as a tenant, let us start by establishing who a tenant is within the ambit of the law as well as the real estate space. A tenant is a person who occupies land or property rented from a landlord and is subject to the payment of rent. With this established, let us proceed to examine tenant rights and what they mean to you as a tenant in Nigeria.

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Benefits of Buying a Home

Home ownership is a rite of passage many of us dream of. Owning a home means putting down roots and having a space that is truly yours. It’s a significant moment of your life when you finally own a home.

But owning a home can be daunting because of the responsibilities and obligations that come with it, combined with the initial process it takes to get there. When done properly, though, buying and owning a home is a process that limits your financial risk, increases your investment power, and saves you tons of money over the long term and it can even save you money immediately. Some advantages of owning a house are given below.

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Reasons Why You Should Be Investing In Land

Everyone touts about the benefits of investing in real estate, but what about land? The general consensus has always been that land is not a worthwhile investment. Why? People falsely believe that land won’t produce income. It just sits there. It’s a boring investment. Land can produce a serious cash flow, and right now, it’s one of the best investments you can make. Here are some few reasons why you should invest in land.

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Nigeria’s Real Estate to Rebounce in 2018

For an industry that has literally suffered a period of boom and bust in recent years, the real estate sub sector in the view of bookmakers is about to unravel.

According to the faculty members of the Nigeria Real Estate Investment and Exhibition (NREIE), a think-tank for the real estate market, the sector has enjoyed significant growth over the last decade even amidst the shortcomings of finance, know-how and right operatives. High-rise office buildings are springing up in tens yearly and luxury estates are on the increase in major cities. There is however more to be done, it is believed there is a deficiency of about 17 million houses to serve the populace optimally. Read More

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