Jide Onasile and Co

Category: Property Management

Market Trends

The Growth of Proptech Industry in Nigeria

Proptech is a term coined from the words “property” and “technology,” and it refers to the application of technology to improve real estate operations. The Nigerian proptech industry is growing at an unprecedented rate, with new startups emerging to disrupt traditional real estate practices. The industry’s growth is driven by the need to address some of the challenges faced in the Nigerian real estate sector, such as lack of transparency, inefficient property management, and difficulty in accessing finance. In this article, we will discuss the growth of proptech in Nigeria and the impact it has on the real estate industry.

Home Buying

Lagos Infrastructure Updates: Building a Greater, Greener Future

Lagos, Nigeria’s economic capital, has been undergoing a significant transformation in its infrastructure over the past few years. The Lagos State government’s focus on infrastructure provision is a critical component of the “Greater Lagos” mandate, which aims to promote sustainable development and a greener future.

Property Management

Impact of diaspora funds on Nigeria’s real estate market

Diaspora-led investments in Nigeria’s real estate and construction sectors are helping to bridge the current finance gap plaguing both sectors. With the depreciation of the Naira and favorable lending rates in their countries of residence, Nigerians living abroad are taking a bet on real estate assets in Nigeria. Remittances from Nigerians in the diaspora account for a significant portion of Nigeria’s GDP and are expected to continue to increase. The potential for appreciation in real estate assets in Nigeria’s major cities makes it an attractive investment opportunity for diaspora investors and developers, with the residential, retail, hospitality, and industrial markets identified as beneficiaries of fresh diaspora capital. Initiatives such as the housing scheme launched by the Nigerians in Diaspora Commission in partnership with the Federal Mortgage Bank promote loan accessibility, mortgage discounts, and transparency for diaspora investors interested in buying or building their homes in Nigeria.

Home Buying

Addressing the Housing Deficit in Lagos through Public-Private Partnerships

Lagos, the economic hub of Nigeria, is facing a housing deficit that is estimated to be about 3 million units, and this deficit is expected to increase to 5 million units by 2025. The government of Lagos state has acknowledged the need to bridge this gap and has taken significant steps towards addressing the issue, including partnering with the private sector to develop affordable housing units. Through Public-Private Partnerships (PPP), the government has been able to leverage the resources and expertise of the private sector to create innovative solutions to tackle the housing deficit in Lagos.

Market Trends

The Rise of Data Centres in Lagos: A Tech-Driven Real Estate Market

Recent weeks have seen the launch of 2 new data centres in Lagos. This speaks volumes about the positioning of the Lagos market for digital infrastructure opportunities, with the State’s teeming population and technology drive being the likely allures for the growing investment opportunities we see in the digital space today.