The Nigerian luxury real estate market has taken a beating lately due to several indices, which include stricter government regulations and economic factors.

Mr. Gbenga Ismail is the Chairman, Lagos branch of the Nigerian Institution of Estate Surveyors and Valuers (NIESV). He spoke to CHINEDUM UWAEGBULAM on the abandoned Federal Government properties in Lagos, ways to ensure effective home ownership, property taxation and tenancy law in the country. Since the federal capital moved to Abuja, several office structures…

Nigeria’s housing market has recorded a spike by about 40 per cent in cost of leases and sales in the first half of 2023, according to findings by The Guardian.

The lucrative nature of the estate agency practice is attracting all manners of people into the profession, heightening fears that more Nigerians may fall prey to scams in the industry.

One of Nigeria’s leading real estate firms, Wemabod Limited has said the firm is working in tandem with Nigerians in the diaspora through a recently unveiled housing initiative to assist those living abroad to have access to safe, affordable and quality homes.

Despite its laudable objectives when it came into effect in 1978, there are certain aspects of the Land Use Act that professionals in land administration can no longer stomach.

Nigerian Institution of Estate Surveyors and Valuers (NIESV), yesterday, said provision of housing for average Nigerians is the best palliative to cushion effects of petrol subsidy removal.

Members of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) Abuja chapter have urged the Federal Government to embark on critical projects that will boost the real estate sector and stimulate the economy.

As the old order of practice is crumbling fast due to socio-economic factors, eggheads in the real estate profession have emphasised the need for re-strategising by policy makers, players and stakeholders in the real estate sector to maximize opportunities across Nigerian cities.

The Chairman, Lagos branch, Women’s Wing, Nigerian Institution of Estate Surveyors and Valuers (NIESV) Olufowobi Olawumi, has charged women to devote time and resources towards personal development to attain enviable height in the profession.

Abia State government and estate surveyors have cautioned the public against engaging non-professionals in their land acquisition, management and development, warning that so doing leads to avoidable claims and litigations.