Research Insights

Lagos State is the most vibrant economic powerhouse in Nigeria, with an approximate population of 16.5 million people. The city has a capital importation of $308.83 million accounting for 47.18% of Nigeria’s total capital importation as of Q3 2023. The state has been recorded as the commercial capital of Nigeria and the economic hub of West […]

In this edition of the Nigerian Property Price Index Report, we found that there was an overall spike in property prices in 2023 asking prices compared to 2022. Lagos and Abuja had the highest increases underpinned by rising cost of building materials, FX volatilities and operational costs.

Renting an apartment may be both an exciting as well as terrifying activity. Whether you’re a longtime tenant or a first-time renter, there are a lot of other things to think about in addition to the advertised rent for your new apartment. Beneath the surface, hidden costs can frequently be under the radar, causing financial […]

If you have ever rented an apartment in Lagos, you must have noticed the new trend where agents charge inspection fees before they conduct inspections. Although this practice is mostly prevalent among upcoming agents who typically service the low to middle-income segment of the market, it is something that most people frown at.   This […]

How Real Estate Can Improve Nigeria’s Economy   There has been discussion about the need for Nigeria’s economy to rebound. It should be highlighted, however, that Nigeria’s reliance on oil revenue has led to neglect of other important economic drivers.  Real estate is one such industry that has emerged as essential to stability and growth. Real Estate […]

According to a study conducted by the central Bank of Nigeria in 2019, the formal housing production is set at approximately 100,000 units per year. With a population of 213 million people and an average household size of 5 people, Nigeria needs at least 42 million houses. More than half of these demands are unmet, […]