News

Abuja's real estate market commands the highest average property prices in Nigeria at ₦182 million per house, driven by its unique status as the Federal Capital Territory, rapid population growth, and severe supply constraints. The city's population is projected to grow from 4 million to over 6 million by 2035, while only 5,000 new housing units were built in 2024—meeting less than 10% of demand. This...

The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has successfully concluded its 55th Annual Conference and Annual General Meeting, which took place from May 5 to 10, 2025, at the prestigious Abuja Continental Hotel. Under the theme "Transform, Invest, Thrive: Optimizing Real Estate Finance and Taxation," the conference brought together key industry players, government officials, and real...

Nigeria’s real estate sector is on track to become one of the nation’s most vibrant economic drivers, with market volume projected to reach $2.25 trillion by the end of 2025. Contributing approximately 5.2% to the country’s GDP, the industry is not only meeting the housing demands of a growing population but also reshaping the nation’s urban landscape. Addressing Nigeria’s Housing...

As Nigeria’s real estate market navigates economic uncertainties, rental properties have emerged as the key driver of activity for 2025. A.I Realent Global Resources Ltd. reports that both residential and commercial rental transactions now account for the majority of real estate deals across the country. This trend reflects shifting consumer preferences amid ongoing economic challenges. Key...

For decades, oil and gas have been synonymous with Nigeria’s economy. However, a groundbreaking shift is underway: the real estate sector has overtaken oil and gas to become the nation’s third-largest industry. Preliminary findings from Nigeria’s ongoing GDP rebasing exercise and Consumer Price Index (CPI) updates reveal that real estate now occupies a more prominent place in the country’s...

In an impressive move to streamline land administration processes in Abuja, Federal Capital Territory (FCT) Minister Nyesom Wike signed over 5,000 Certificates of Occupancy (Cs-of-O) in 2024. This initiative marks a significant step toward improving transparency and efficiency in the real estate sector, offering immense benefits to property buyers, investors, and developers alike. Reducing...

I toured and investigated one of the cheapest property development in Abuja. The Renew hope mass housing. I investigated if its really affordable and why will resident, investor need to invest. When searching for a residential or investment property in Abuja, one up-and-coming area gaining notable attention is Karsana. Tucked near Gwarinpa’s thriving district, Karsana offers modern estates and unique...

\BCPG Urges Lagos to Use Tech for Building Safety, the Building Collapse Prevention Guild (BCPG) has urged the Lagos State Government to utilize technology for monitoring building performance and preventing structural failures. This recommendation was made by Mr. Gbolahan Oyelakin, the BCPG Ikeja Cell Coordinator, during an interview with the News Agency of Nigeria (NAN) on Sunday. BCPG Urges...

Lagos plan to aid distressed building renovations, the Lagos State Government has announced a new initiative to support developers and property owners in addressing the issue of distressed buildings. According to Dr. Oluyinka Olumide, Commissioner for Physical Planning and Urban Development, the ministry will provide technical assistance in designing and renovating such buildings, beyond just approving...

Lagos Extends Building Permit Amnesty to Dec 31, the Lagos State Government has extended the amnesty period for property owners and developers without Planning Permits until December 31, 2024. Governor Babajide Sanwo-Olu announced this extension at the Lagos Physical Planning Summit, held at Eko Hotels and Suites. Lagos Extends Building Permit Amnesty to Dec 31 This extension offers property...