A Real Estate Expert and Director of Purifico Property Services, Tina Walters, has disclosed that the coronavirus pandemic caused mass concession, renegotiation, and restructuring activity in the real estate market.
While speaking with newsmen in Lagos having returned from a tour of Nigeria, Ghana, Kenya and South Africa, Walters urged the Government to encourage landlords to offer flexible leasing arrangements through the use of essential property management services which will ensure that their is structure and regulation.
The Expert explained that the Nigerian rental market needs resturcturing.
Walters, who is the Director of Purifico Property Services, made this known to Tribune Online on Thursday in Lagos.
Tina said such is needed to be able to provide more affordable housing options and easier access for tenants.
“The impact of Covid 19 pandemic has led to mass concession, renegotiation and restructuring activity in the real estate market globally.
“The government should encourage landlords to offer flexible leasing arrangements through the use of essential property management services which will ensure that their is structure and regulation.
“The Nigerian rental market needs to be restructured to provide more affordable housing options and easier access for tenants.
“This can be done with support of governments influence.” She said.
Meanwhile, Walters stated that Purifico Property Services recently concluded a three-country tour to Nigeria, Kenya, Ghana, and South Africa with the primary objective of exploring potential investment opportunities in Nigeria, a country with immense growth potential and a thriving real estate market.
Walters explained that she embarked on the tour to gain firsthand insights into the real estate markets of these African nations and to ascertain the viability of investment prospects.
According to her, she was impressed by the country’s vibrant economy, robust infrastructure development, and the increasing demand for quality real estate solutions.
Walters acknowledged Nigeria’s potential as a key investment destination in Africa and expressed her confidence in the future opportunities that the country offers.
