In a bid to address persistent challenges in property valuation and promote transparency in Nigeria’s real estate sector, one of the country’s emerging PropTech firmsOne Square Metre Real Estate Limited, has unveiled a new property estimator platform designed to ensure accuracy, uniformity, and efficiency in asset assessment.
Speaking at the official launch of the platform in Lagos, Chief Executive Officer, One Square Metre RE, Mr Dotun Bamigbola, said the initiative adds to Nigeria’s growing digital real estate ecosystem and aims to integrate technology into property assessment and valuation.
He explained that the innovation was developed to raise awareness about valuation processes, standardise methodologies, and show how practitioners arrive at their results, thereby deepening accuracy and transparency in the sector.
Bamigbola noted that the platform would create new job opportunities, accelerate the valuation process, and enhance professional practice without displacing valuers.
“It is an automated valuation model, exposed not just to professional valuers but to every member of the public because it’s global. Anything driven by technology is not limited by space. It will also curb fraud in real estate since there is now a measurable yardstick,” he said.
Bamigbola, a former chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos Branch, added that the firm is engaging key stakeholders including bankers, the Chartered Institute of Bankers of Nigeria (CIBN), the Nigerian Insurance Association (NIA), the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), and the Financial Reporting Council of Nigeria (FRCN) to promote valuation accuracy through the use of the app.
Chairman of the occasion and past president of NIESV, Venerable L. Eso, described the innovation as a major leap in the evolution of asset valuation, noting that while valuations in the 1950s and 1960s were manually done with pen and paper, technology is now transforming the process.
He commended the initiative as one of the most innovative ideas in recent years, saying it allows property valuation to be completed in less than 15 minutes, a task that previously took several days.
“This idea will spur growth in the sector, and practitioners should take advantage of it to enhance professional excellence,” he said. Managing Director/Chief Executive Officer, IHMS HMO, Mr Edison Emoabino, described the launch as a mindset shift in professional practice. He said digital tools such as the property estimator would enable valuers to access reliable real-time data, benchmark valuations across regions, apply standardised methodologies, and reduce turnaround time for clients and investors.
“Technology should complement, not replace, professional judgment. The human valuer remains central; technology simply extends your reach and sharpens your insight. The future of valuation will not be determined by who guesses better, but by who leverages data smarter,” Emoabino stated.
Chief Operating Officer of One Square Metre RE, Ms Anuoluwapo Ajaiye, explained that the platform offers three user plans: a free Starter Plan, a Professional Plan, and an Enterprise Plan, all designed to be simple and seamless to access.
