Industry News


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:…

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.

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.

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.

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.

Real estate business might not be very buoyant at the moment. The reasons are not far-fetched; the ongoing economic challenges in the country which has resulted in the fluctuation of naira against other currencies (dollar and pounds) and has made some people to put on hold investment in real estate, while a number of would-be investors have to contend with the task of locating investment opportunities in markets that offer the greatest long term growth and stability, and or investment in other endeavours.

Does real estate interest you? Do you own multiple properties in Nigeria? Do you manufacture or sell building materials?

Then, Nigeria Real Estate Summit and Expo (NIRESE) is the place to be come this September. This first of its kind real estate event is a peculiar event that brings together principal people who share parallel enthusiasm for the Nigerian property industry.

This is a new twist to real estate 419 scams used against unsuspecting real estate agent. In this case, the agent  is a high profile, highly professional estate firm.

In the early hours of Tuesday, May 9, 2017 at about 7:17am, this writer received a call from someone who said his name is Gbenro, and that he is very interested to buy our fully furnished 5 bedroom detached duplex at Chevy View Estate, Chevron, Lekki, Lagos going for N88million. He assured during the telephone conversation that if he can view the property, and he likes what he sees, he will like to pay immediately.

With this assurance, we quickly arranged for the immediate inspection of the property at about 10:00am the same day. The current owners/vendors of the property – Mr. & Mrs. Augustine (not their real name, to protect their identity) are still living there; Mr. Augustine has just been transferred to the Abuja branch of his company, hence the need for relocation and sale of the property.

A constitutional amendment is in the works at the National Assembly to repeal the 1978 Land Use Act in order to remove contentious areas. It is taking this step to make land easily accessible to Nigerians, according to Senate President Bukola Saraki.

Disclosing this on the 19th of July 2016, while opening the Abuja Housing Show, he said the Senate was awaiting a committee report on the Land Use Act, which may be ready before the end of September 2016.