That Nigeria suffers acute deficiency in key infrastructure across the length and breadth of the country is no longer news. What is news for some time is the stride Lagos State is said to have made, particularly in the area of physical development. It is important to state that the pass mark given to Lagos was based on its performance relative to other states in the federation. It must be pointed out that most of these other states performed woefully in the area of development. While the leadership in Lagos state must be encouraged with commendation for its relative achievements, it is imperative that its government must be advised to seek true yardstick of measurement. From various  speeches, authorities in Lagos seek to make the state a globally competitive place. To achieve this noble goal, its current tempo has to change fundamentally

Real Estate Market vs. Capital Market

Written by Tuesday, 31 May 2011 17:29

Coming off a bust in both the capital and real estate markets, many Nigerian investors are wary of putting their money in either of these as long term investments.The capital market which seemed robust and wholesome nosedived in the wake of the global economic recession, many stocks plummeting to fractions of their former values. The banking industry, suffered hugely from this misfortunes some still reeling from the effect of the bank onsolidation, found this double blow more than they could handle. Sadly the people who suffered truly were their shareholders many losing their fortunes to this financial landslide.

Nigeria is the most populous black nation in Africa. With a population at over 150 million the nation faces acute shortages in dwelling units, causing overcrowding, poor living conditions and high rent especially in the countries urban centres. In a bid to curb the growing shortfall in housing noticed after the 1991 population census, the Federal Government established the National Housing Policy

Curtain On Mortgage: Implications For Real Estate

Written by Thursday, 24 February 2011 15:56

In recent times, due to the recent global economic recession and its ripple effects ,  people find it increasingly difficult to access mortgage finance from financial institutions. In the U.S, even though house prices have steadilydropped in the past  two years, mortgage providers expect higher equity contributions. In addition,  borrowing requirements have become increasingly stringent, making it more difficult for people to secure loans.

The myth of invisibility ascribed to Nigerian real estate, generally perceived to operate in a virtual universe, has been shaken by the realities of today. Contrary to a widely held belief that the real estate sector is always on an upward swing (at least for a long time to come), property development activities slowed down significantly from late 2008. Year 2009 witnessed an almost shut down and 2010 recorded marginal mprovement.

Daily, millions of people across the globe head to their places of work, stop at eateries for meals and drinks, visit retail outlets for shopping, go to  theatres and other leisure centres for fun, arrive at hotels for business and back to their homes. The provider of these spaces for enormous human activities and interaction is real estate. In their productive activities as individuals or collectively through corporate vehicles of different kinds, people create wealth. This wealth is held in various forms, and real estate is a major form.