September Real Estate News Highlights

SEPTEMBER 2024 REAL ESTATE NEWS HIGHLIGHT

DAILY TRUST NEWSPAPER (SEPTEMBER 8, 2024) Headline: Real Estate Valuation Critical in Tackling Building Collapse – Minister Minister of Housing and Urban Development, Ahmed Dangiwa, has called on estate surveyors and valuers to play a vital role in preventing building collapses through accurate property inspections. Speaking at the 2024 Valuers Assembly in Abuja, Dangiwa stressed the importance of fair property valuations for safer and more…

COR STATION AND CADASTRAL SURVEY PRACTICE IN ANAMBRA STATE

COR STATION AND CADASTRAL SURVEY PRACTICE IN ANAMBRA STATE

We have a solar-inverter powered COR(Continuously Operating Reference) station running 24/7 in Awka and I was invited by the Anambra state branch of the Nigeria Institution of Surveyors to talk to them about how COR station should be deployed for cadastral surveys in the state; so I made a presentation at their yearly Mandatory Continuous Professional Development (MCPD) titled “Integrating CORS Technology in Cadastral Survey…

AUGUST 2024 REAL ESTATE NEWS HIGHLIGHTS

AUGUST 2024 REAL ESTATE HIGHLIGHTS

DAILY TRUST NEWSPAPER (AUGUST 19TH, 2024) Headline: High Interest Rates, Inflation, Crippling Property Market – HDAN The Housing Development Advocacy Network (HDAN) has warned that high interest rates and inflation are slowing the real estate market across Nigeria. Executive Director Barr. Festus Adebayo cited rising building costs, driven by inflation and naira devaluation, as key factors. Real estate sales in cities like Abuja, Lagos, and…

JULY REAL ESTATE HIGHLIGHTS

JULY 2024 REAL ESTATE HIGHLIGHTS

JULY 2024 REAL ESTATE NEWS ARTICLE PUNCH NEWSPAPER (JULY 1, 2024) Headline: Declare State of Emergency on Geographical Mapping, Surveyors Tell Govt. The President of the Nigerian Institution of Surveyors, Dr. Matthew Ibitoye, has called for a state of emergency on Nigeria’s geographical mapping. Speaking at the 58th annual general meeting in Edo State, Dr. Ibitoye emphasized that comprehensive mapping is crucial for national development…

JUNE 2024 REAL ESTATE NEWS HIGHLIGHTS LAGOS

JUNE 2024 REAL ESTATE HIGHLIGHTS

BusinessDay Newspaper (June 17, 2024) Headline: Fresh Hurdles On the Way to Registering Property in Lagos Worry Investors Despite efforts by the Lagos State government to enhance real estate investment and streamline business operations, investors remain dismayed by the extensive property registration requirements. In January, Governor Babajide Sanwo-Olu launched a land administration portal aimed at expediting property registration, reducing corruption, and securing titles. However, real…

Property Demolitions in Lagos

APRIL REAL ESTATE NEWS SUMMARY 

BUSINESSDAY NEWSPAPER (APRIL 1, 2024) Headline: 94% of Lagos Properties Lack Legal Titles, Stakeholders Lament Industry experts in Nigeria’s building sector have expressed alarm over the staggering number of properties in Lagos State without legal titles. According to estimates, a whopping 94% of properties in the state lack proper documentation.  The issue was brought to light during the launch of Edge Facility Managers in Lagos,…

10 WAYS TO HELP YOU REGRET YOUR REAL ESTATE INVESTMENT IN LAGOS

10 THINGS TO DO THAT WILL HELP YOU REGRET YOUR REAL ESTATE INVESTMENT IN LAGOS AND NIGERIA

If you are investing in real estate in Lagos or anywhere in Nigeria, please attention. These are some of the things people do and regret later. 1) Believe everything the seller says 2) Dont involve a surveyor and a lawyer 3) Don’t check whether the property is within the setback of a closeby canal, high tension, or other public utility. 4) Don’t ask about the…

Site Survey at Odoragushi, Eredo, Epe, Lagos

Navigating Land Survey Challenges: Site Experience at Odorangunshi, Eredo, Epe.

In land surveying, we always say that each assignment presents its unique challenges and revelations. Recently, we carried out a land survey in the vibrant locale of Odorangunshi Eredo, Epe. What transpired during this four-hour endeavor not only encapsulates the essence of our profession but also underscored the importance of precision in our craft while illuminating the intricacies of land ownership, and governmental regulations/restrictions. More…

Demolishings in Lagos, Nigeria

How Professional Land Surveys Can Shield Your Investment Amidst Growing Demolition Concerns

Though Investing in property can be a great way to generate wealth, it is not without its risks. One of the biggest concerns for investors is the threat of demolition, which can leave them with worthless property and without compensation from the government. In recent times, there has been a surge in the demolition of buildings by the Nigerian government especially in Lagos, raising concerns…

LAGOS STATE SURVEY SCALE OF FEES

NEW LAND SURVEY FEE IN LAGOS

There is a new survey fee in Lagos state, and it took effect on the 1st of January 2024. It was reviewed to reflect the current economic realities in the country. The last time the survey fee was reviewed was in 2017. This means despite the increased inflation from 2017-2023, the survey fees remained the same. In this 2024 edition, Lagos state was divided into…