Real Estate

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Though Still in the Woods, Real Estate Sector GDP Positive in Q4 2020

march 10, 202 According to the Q4 and full-year 2020 GDP data released by the National Bureau of Statistics (NBS), the real estate sector returned to positive growth of 2.81% y/y in Q4 2020 following six consecutive quarters of negative growth since the last positive growth posted in Q1 2019 (0.93% y/y). The significant recovery in Q4 2020 reflects the full reopening of the economy as many residential...

Housing in Nigeria

Removing bottlenecks will unleash housing potential, says Dada

Martin Dada is a professor of building at the University of Lagos. He spoke to VICTOR GBONEGUN on why the National Assembly should pass an act for enforcement of the national building code, the need for government to provide enablers for housing to meet the needs of the society. The National Building Code has been in the cooler, without minimal implementation and enforcement over the years. What are...

Housing in Lagos

Housing supply in Lagos mainland declines as millennials opt for smaller apartments

The number of property developers starting construction in the Lagos mainland have tumbled by 80 per cent, following a major shift in Nigeria’s residential demand by the young professionals.  The shift was occasioned by large number of young professionals, 60 per cent of whom are within their first three years of employment coupled with the high rate of urbanization, leading to a surge in the...

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