From LAGOS State Government
The real estate sector in Nigeria is fast growing and a lot of investors are looking into more investment. It has been predicted that the year 2025 will be positive for real estate in Nigeria.
Nigeria’s real estate market is poised for significant transformation, shaped by evolving economic conditions, shifting demographics, and emerging technologies. Despite challenges like inflationary pressures and currency fluctuations, the sector shows resilience, with opportunities arising in affordable housing, urban redevelopment, and green building initiatives. This year promises to be a turning point for the industry, with exciting prospects and critical changes that could redefine the future of real estate in Nigeria.
The Nigerian real estate market presents a dynamic landscape with a mix of challenges and opportunities. By addressing infrastructure deficits, regulatory hurdles, and financing constraints, the sector can unlock its full potential. Embracing technological advancements, focusing on affordable housing, and exploring opportunities in secondary cities can drive sustainable growth. As the market continues to evolve, stakeholders must collaborate to create an enabling environment that fosters innovation and inclusivity in the real estate sector.
In order to bring sanity to the real estate sector, the Lagos state government have introduced a system where private investors or public can buy land through them especially people living in the diaspora. This is done to eradicate fraudulent real estate developers and agents who dupe people of their money.
The Lagos State Government has introduced a Diaspora Real Estate Desk, a joint effort by the Lands Bureau and the Office of Diaspora Affairs. This initiative reflects the administration’s commitment to providing Nigerians living abroad with a trustworthy and efficient means of accessing real estate services in Lagos.
According to the government, the Diaspora Real Estate Desk is designed to meet the specific needs of Nigerians overseas by offering reliable information and professional support for property transactions and documentation within Lagos State.
The project is led by Jermaine Sanwo-Olu, an Estate Surveyor and Valuer and Head of the Lagos State Office of Diaspora Affairs, in collaboration with Kamar Olowoshago, the Permanent Secretary of the Lands Bureau. Together, they aim to foster transparency and trust in real estate transactions. Speaking on the initiative, Sanwo-Olu emphasized the state’s dedication to building strong connections with Nigerians abroad, stating, “The Diaspora Real Estate Desk will provide professional support, allowing members of the diaspora to invest in Lagos with confidence.”
Olowoshago highlighted the initiative’s role in protecting Nigerians abroad from fraudulent real estate practices. He remarked, “This desk offers our brothers and sisters abroad a credible point of contact for their property needs, ensuring their investments are safe and legitimate.”
The key objectives of the Diaspora Real Estate Desk include:
Offering professional advice and support for land acquisition, property development, and documentation.
Ensuring transparency and trustworthiness in real estate dealings for Nigerians abroad.
Acting as a centralized resource for connecting the diaspora with Lagos State Government land services.
The Lagos State Government urged Nigerians overseas to utilize the Diaspora Real Estate Desk as a dependable partner in achieving their property aspirations.
The thriving Lagos real estate market, driven by the state’s industrial growth, has also been bolstered by innovative approaches from industry professionals. These strategies, aimed at attracting diaspora investors familiar with international real estate standards, have helped position Lagos as a competitive and appealing destination for real estate investments.
The general public is thereby urged to visit the website of the Diaspora Real Estate Desk to apply for one.
