fbpx

Research Insights

Solving Nigeria’s housing crisis with alternative building materials

Nigeria’s housing deficit currently stands at 28 million units, according to data from the Federal Mortgage Bank of Nigeria (FMBN). According to the Central Bank of Nigeria, it will take an investment of about $46.7 billion dollars over 20 years to meet the country’s housing demand.   As of today, Nigeria imports 90% of the materials […]

Solving Nigeria’s housing crisis with alternative building materials Read More »

How real estate can help global warming in Africa

How real estate sector can solve Africa’s global warming

It is estimated that 56% of Africa’s overall electricity usage is accounted for by buildings. Large cities are thought to use more than 75% of the electricity produced. As climate change and global warming become more of a problem for Africa, the real estate industry becomes increasingly important to the continent’s efforts at sustainable development.

How real estate sector can solve Africa’s global warming Read More »

How blockchain can help recover Nigeria’s $900bn dead real estate capital

In 2019, PwC estimated that as much as $900Bn dead capital is locked up in Nigeria’s residential and agricultural real estate market. According to the consulting firm, approximately 95% of household dwellings in Nigeria have no title or a contestable title. More than anything else, Nigeria’s complex land title and documentation process is a major

How blockchain can help recover Nigeria’s $900bn dead real estate capital Read More »

How AI is revolutionizing Africa’s $14.4 Trillion commercial real estate market

Data that we have validated shows that Africa’s commercial real estate space is a $15 Trillion industry. This is approximately 5x the value of the continent’s GDP. Compared to other regions, Africa’s real estate market is grossly underdeveloped. One of the biggest challenges plaguing the African market has been inefficiencies and general opaqueness. In 2022,

How AI is revolutionizing Africa’s $14.4 Trillion commercial real estate market Read More »

Enhancing property ownership in Nigeria through Auction - BuyLetLive

Enhancing Property Ownership in Nigeria through Auction

Enhancing property ownership in Nigeria through Auction – BuyLetLive.

A property auction is a sales event (whether online or offline) where potential buyers place competitive bids on a property. People use auctions for real estate sales for several reasons. The most common is that it provides an avenue to sell off assets to buyers with ready cash. Buyers prefer auctions because they provide access to a wide range of properties that in most cases are below market value. Auctions also make it easier to sell properties that may be difficult to sell through other methods.  

Across the world, auctions have helped countries in tackling major housing problems. Although the adoption of auctions is relatively low in emerging economies like Africa, it has the potential to curb major housing issues, especially the housing deficit in a country like Nigeria. In this article, we provide context to how auctions can be used as a veritable tool for enhancing home ownership in Nigeria. Before we dive in, let’s look at the global property auction market. 

Enhancing Property Ownership in Nigeria through Auction Read More »

Scroll to Top