Wednesday, October 8, 2014

Lagos’ rising cases of abandoned property and challenges before govt

Reports compiled by experts in the housing sector reveal that there are many abandoned properties in
Lagos State; a development experts have said is not healthy for the development of the economy of not only Lagos, but Nigeria as a whole.

A recent report has it that the value of some of the abandoned properties, especially those in Victoria Island, currently stands at above five billion naira, while private individuals, the Federal Government as well as various state governments have been found to be guilty of this development.
Continue..

Is Nigerian fast food industry at its Tipping Point?


Until recently, Sub-Saharan Africa (SSA) has long been ignored by the Western based brands, but now as growth opportunities in other emerging nations become saturated, SSA appears to be the ultimate destination. Particularly, the fast food businesses are gearing up for their next big move on the continent, but whether it will be easy for them, remains the question. SSA consists of 50 countries, in which Nigeria and South Africa are the major economies contributing tremendously toward the GDP of the continent; and the sooner the foreign brands harness the potential in these economies, the larger they can bite into the pie.

The Most Mysterious House U Have Ever Lived In Nigeria!


When I was younger, my mum used to move from one house to another, like almost every year

one time, we moved to some house near a big farm undecided

after some weeks, we realized our new house was built on top a grave yard shocked
towards the end of the street was also an O.O Obum church! shocked
and whenever there is an O.O Obum church, most of the pple living ard the area will be O.O Obum members

Monday, October 6, 2014

BBA winner Dilish bares Chest in traditional Himba Culture wear

 See more pics bellow.

Photos: Supermodel Uche Odikanwa shares new photos.

See more pics bellow.

Sunday, October 5, 2014

Images from Governor Uduaghan's 60th birthday

 See more pics bellow.

Amazing Dance Steps! New Video: Zani - Mercy


Wednesday, October 1, 2014

Photos: inauguration ceremony of Ekiti new Gov, Ayo Fayose

 See more photos bellow.

Monday, August 11, 2014

Lagos: 5A Beautiful 5 Bedrooms Duplex for Sale, Medina, Gbagada, Lagos - Lagos



Item details

City: Lagos » Kosofe
Offer type: Sell
Price: ₦75,000,000
Bedrooms:5
Full Square, m²:780
 

Lagos: Exquisite 3 Bedroom Flat Marda Barracks for rent




₦2,000,000 p.a.
Marda Barracks, Saint Agnes, Yaba, Lagos
New! Find out the average price in this area
Continue to see Description

Saturday, June 7, 2014

Land for sale in Lekki Villa



Lekki Villa: Is located within the Bogìjè/Shàpàtì area of the Ibeju Lekki environs. A land size of 675sqm sells for 1.5M outright payment or 1.8M for a 12 month installmental payment.

The estate also has an ongoing promo in which if you buy one plot, you get 10 Bags of Cement and 3 trips of Sand on Allocation. Buy 5 plots and get One plot FREE! This promo runs till the end of june. Hurry Now!

Content from Nigeria Property Centre

Real Estate Investment in Nigeria pretty easy.


Property in regard to land and buildings is one thing that is worth your investment in the long term due to the fact that landed properties appreciate with time.

Investigations reveal that as at 2011, only 37% of Nigerians were house owners. Providing relevant and timely information to potential investors and to the general public can help increase this figure. Also, there is a need to break down the barriers to investing in the sector by simplifying the process. These steps include
1. Research

If you are interested in the property market, there are great platforms to find information you need, including the mass media, online and around you. Talk to locals. Use the internet for your research as its an avenue for you to get the much needed information at the palm of your hand. You have to understand it before you can get into it. It is important to note that Real Estate information in Nigeria is scarce and thus requires effort on your part, whether you are in the country or abroad.
2. Decide on the property market you wish to invest in.

Based on your research and depending on your goals, pick a sector that will benefit you more. You could chose from office to industrial property, retail centres or residential units. According to a developer in this BusinessDay article, a shopping mall in Nigeria is sold off before it is even complete while residential units take several years to actually sell out.
3. Which real estate market is blooming?

Decide on areas where a highway is constructed which  eases traffic and the working class tends to move in that direction, or areas with newly constructed facilities making it a worthy cause to build high-rises to rent out to them.
4. Decide on where and how you will get finances

It could be from friends and family or financial institutions. You could also finance it yourself. When you approach the bank or institution, make sure you know what you are doing. Your plan has to be viable enough to make them give you the money. As stated here last time, the Nigerian government secured a $300 million loan from the World Bank to establish Nigerian Mortgage Refinance Company (NMRC) at the beginning of 2014. Hopefully its effect in terms of liquidity and bank lending is being felt now. You could benefit.
Remember that property in the better parts of Lagos and similar upscale urban areas is as expensive as in some Western markets.
5. Get the details right

You can never be too careful. Talk to industry experts, a lawyer and make sure you get everything ironed out right from the federal government requirements down to the owner’s issues. It is another known fact that property scammers run amok in our big cities; pretending to sell houses whose owners are away, complete with fake title deeds. Beware. Get the advice of relevant professionals such as surveyors who will check out the property and advise you accordingly.
6. Know your Law

You have the right to own property as a Nigerian. All the same, the 1978 Land Use Act gives state governments authority over land within their borders. They in turn avail it to you after an intricate and bureaucratic process. You will then receive a certificate of occupancy to actually use the land i.e. sell it or develop it. Your right can also be denied if you are living in a place that is not your area of origin, which can be very subjective at the very least and can create ethnic tension.

Mistakes can be made in the real estate market in Nigeria as in anywhere else and that is why one needs to practice patience and wise resolve. Remember, Nigeria is a developing market with great potential in sight.

A Newly Built Lovely 3 Bedroom Flat Content from Nigeria Property Centre

 See details bellow



Property Description

a newly build lovely 3br flat on the art of yaba.

secure an serin environment.

all room ensuit .

just 4 block of flat wit a big car park.

easy drive to vi obalende ikorodu ikeja.

rent is 2yr but de can do 1an half if u are seriou just 2 left.

intrested client

call 08184100140 07039434655

butterfly properties

pass it on
Marketed By


Content from Nigeria Property Centre
Read more at: http://www.nigeriapropertycentre.com/for-rent/flats-apartments/lagos/agbara-igbesa/35250-a-newly-build-lovely-3br-flat-at-sabo-yaba

Sunday, June 1, 2014

15 statutory laws governing land/property transactions in Nigeria.


Many people do not know that there are some statutory laws that have been enacted and established by both the state and federal government to regulate, guide and govern all forms of land and landed properties’ transactions in Nigeria which could make such transaction illegal or even lead to forfeiture whenever the parties to the transaction do not adhere to the provisions of such statutory laws as been laid down or stipulated.

Land and landed properties are static in nature and because they are immovable, hence the Latin maxim “Quicquid plantatur solo solo cedit” (meaning; whatever is affixed on the land belongs to the land).

Land and landed properties’ transactions (ownership, sales, acquisition, lease, mortgage, alienation, assignment/conveyance, sublease) are a contractual relationship between two or more persons for exchange and release of interest they have on land and landed property in consideration for a compensation which is usually of monetary value in nature.

For the protection of all parties involved in any or all of the above mentioned transactions as well as making such transactions legal and tenable in any court of law, the government (state and federal) of the federation has enacted some statutory laws to guide, govern and protect all persons who find themselves embarking on any of these land and landed properties’ transactions in Nigeria.


2There are so many reasons why government enacts statutory laws to govern and guide land and landed property transactions in Nigeria. Some of which are:

• To help generate additional revenue for government
• To add up to the Gross Domestic Product (GDP) of the economy
• To endeavour government carry out one its constitutional statutory function of protecting lives and properties
• To protect land/property investors and owners against fraud
• To have a detailed record of all land and property transactions in the country
• To assist government in planning towards adequate provision of infrastructural facilities in the country
The first part of the statutory laws governing land/property transactions in Nigeria which I will write on are:
1. Land Use Act
2. Land Instruments Registration Laws
3. Registration of Titles Acts
4. Rent Control and Recovery of Premises Acts
5. Tenancy Law of Lagos state
6. Tenement Rate Laws
7. Land Use Charge Law of Lagos state

UK Nigeria Diaspora Bodies Collaborates With Diarep Uk Exhibition


The Nigeria Diaspora Direct Investment Summit (NDDIS) and Central Association of Nigerians Living in the United Kingdom (CANUK) has extended their hands to collaborate with Real Edge Alliance Limited, the major promoters of Diaspora Real Estate Project (DIAREP) to organize an real estate exhibition for Nigerian living in the UK. The exhibition will be holding in London on the 26th and 27th of July 2014 at the Imperial College, London.

Tuesday, May 6, 2014

Fab Photos of Karen Igho & her UK University Schoolmates

 See more bellow.

Sunday, May 4, 2014

Photos from Singer Faycol's May 2014 wedding

 See more pics bellow.

Friday, April 11, 2014

Lagos: Newly Built 4 Bedroom Detached Duplex


Newly Built 4 Bedroom Detached Duplex for sale

₦65,000,000 Phase 1 Isheri, GRA, Magodo, Lagos

Content from Nigeria Property Centre





Newly built 4 bedroom detached duplex, a very big master bedroom, a room BQ, all rooms en-suite, kitchen well furnished, 4 parking space, security house and street well tiled.


GDP rebasing exposes opportunities in real estate, infrastructure

The rebased Gross Domestic Product (GDP) figure recently released by the Federal Government has exposed much more opportunities in real estate and infrastructure investment and development than had been previously imagined by investors and analysts.

This rebasing effort by the National Bureau of Statistics (NBS), which shows that the Nigerian economy is now more diversified with a GDP value of $510 billion, reveals that activities in the services sector have overtaken those of agriculture and industry.

The implication of the present development to the real estate sector, analysts say, is increased opportunities as increased activities in the services sector, including wholesale and retail trade, human health and social services, information and communication as well as professional, scientific and technical services, means more investment in housing and infrastructure.

Obi Nwogugu, head, real estate unit, African Capital Alliance, sees increased potential and opportunities in the economy as a result of the rebasing exercise, pointing out that a lot more people will be looking to invest in the Nigerian economy.

He adds that he does not expect an overnight increase in demand and pricing for housing, but believes there will be additional level of interest in the economy from international investors.

“This increased level of interest is going to drive investment in office space; now that Nigeria has overtaken South Africa in terms of the scale of the economy, some of the international retailers who used to go to South Africa because of the size of their economy will come to Nigeria and this is going to affect retailing,” he said.

Anthony Owuye, MD/CEO, Personal Trust Savings and Loans, sees increased money supply in the economy with the rebasing, contending that if inflation is kept under control, it will be another round of boom for real estate.

Owuye also says because of the increased activities in the services sector, there is going to be a significant investment shift towards commercial real estate, explaining that there will be more investment in retail outlets, leisure, office space and hospitality.

He notes, however, that having been priced out of the reach of many, residential real estate is going to see price adjustment, citing example of Banana Island, where he notes there are many empty houses because people are opting for ‘cheaper’ locations like Parkview Estate, Osborne Foreshore, etc.

Chudi Ejekam, director, real estate, Actis, is of the view that the $510 billion GDP figure, which is materially higher than earlier projections, is yet another example of how Nigeria confounds projections, adding that the rebasing inexorably raises Nigeria’s profile in the eyes of the international business community.

According to him, many are guilty of continuing to grossly under-estimate the true nature of the Nigerian economy and opportunity.

“One of the major challenges has been communicating the depth of purchasing power of Nigerian consumers; an indication of higher per capita income boosts the thesis for retail malls investments and would encourage entry of new brands as well as investors,” he adds.

Yemi Kale, statistician-general of the federation/CEO, NBS, says rebasing the GDP shows a noticeable shift in the share of key industries to the country’s overall GDP, explaining that the rebased 2010 series reveals a decline in the share of agriculture to 24 percent from 30.3 percent in 1990. Industry has also declined to 25.8 percent, down from 46.1 percent, while the share of services has increased to 50.2 percent, up from 23.6 percent within the same period.

Chuka Uroko

Thursday, April 10, 2014

Best Steps to Invest in the Real Estate Industry in Nigeria

    1. Best Steps to Invest in the Real Estate industry in Nigeria They say if one thing is pricey however worthwhile, you may notice the way to induce it. And property in relevancy land and buildings is one issue that's price your investment within the long run. That said; contemplate these eight steps as you act swing your hard-earned cash within the property market. 1. Research If you're fascinated by the property market, there square measure nice platforms to seek out data you wish, together with the mass media, on-line and around you. consult with locals. Visit Google and relevant Nigerian property sites. produce Google alerts for search terms. This way, you may continually be within the loop. you have got to grasp it before you'll get into it. it's vital to notice that property data in Nigeria is scarce and so needs effort on your half, whether or not you're within the country or abroad.

Why Nigeria is the Best Business Location for Investing Real Estates Account Nothing compares to assets Investment Opportunities in African

1.. Why Nigeria could be the Best Business Position for Investing Real Estates Account Nothing even compares to assets Investment Opportunities in African nation if you've got enough cash to interact in it. 

There are many business opportunist however currently property investment in Nigeria Republic of African nation brings back your capital with profits sooner in comparison to different businesses in Nigeria. For those who haven't detected concerning it, assets investment in Federal Republic of African nation has brought an optimistic trend in comparison to different businesses investments in Nigeria. 

No matter what, assets Investment in African nation are that the most effective business you have to place into consideration. African nation features a most readily useful contributive atmosphere for business and investment compare to different countries in geographical area and because the nation grows, many folks often depart rural life to urban life and for this reason, there's invariably a lack of housing in each town and city in African nation.


2.. There are many business opportunities in African nation however assets investment out competes each of them. With this text thus, we are inclined to create you the main advantage of finance in assets in African nation in comparison to different businesses. There are many blessings of assets investment in comparison to different investments in African nation. For example, if you get stocks from the supplier, you'll try to induce profits once that stock appreciates. You'll have the dividends proclaimed by the corporate in mind. In the event that you invest shackled, the interest earnings from the bonds will also be the goal with this you create the investment. But, in assets investment, you receive plenty of selection of benefits. Let's have a look. You may even have a sincere management over your income in the event that you purchase properties in Nigeria that fetch you rental incomes month when month. In the event that you bear the statistics, rental incomes have invariably been abundant larger compared to dividend incomes you receive by investment in stocks. Needless to say, in stocks, if you're extraordinarily lucky, a abrupt surge within the buying price of your stocks could easily get you smart returns in the event that you sell the stocks at the foremost opportune time. 

If you're keen enough, you will have ascertained that the important estate investments in Nigeria appreciate to a reasonable extent over an amount, in each four years, the rental dues doubles looking on the realm during which your property is placed. Another reason you have to purchase property is that income can behave as a sincere protection against inflation. Not with standing inflationary trends prevail, after you receive income from your own property investment, it'll behave as a support consequently of one's mortgage payment won't bear a modification owing to inflation. You understand property investment or property investments appreciates over and yet again and as you retain paying off your mortgage amounts, the equity price of one's property investment are likely to be increasing. This is utilized by going for a loan appreciate the equity price of the property. Any establishment or banks are likely to have the ability to extend loans to you.
3. © Copyright 2014 by Zebra Technologies Limited. All rights reserved. For your computer data, in the event that you blessed enough to induce home in very smart vicinity like Banditry and Igbesa at a sincere value, may be but selling price, you'll have the ability to observe cash out of it. There's a model some those who get properties at lower costs and flip them at intervals a short time of concerning half a year to create smart profits. This business is quite money making however, you desire to tread with caution in the event that you wish to try and do it. You wish to select the properties that area unit absolute to comprehend and more, the properties must have a clear title. In the event that you with consideration search, you're guaranteed to clinch such deals. By: Property Finder Nigeria

Best Cities To Invest In Real Estate In Nigeria and Why?


This really is some some questions posted if you ask me by among my  subscribers which I is going to be writing on and sharing with you. You can find different factors which will determine the profitability of one's investment in Real estate.

 
1) Number one is demand-The rate of demand will have to come first  before any other considerations , a lot of reasons will make people to migrate to a place, mainly for economic reasons . In Nigeria three cities will come into mind Lagos, Abuja and Portharcourt.



2)Accessibility to a town can also determine the real estate growth in a city. This is why towns in Bayelsa state may not attract real estate growth despite being very rich in oil.

3)Availability of land and materials will also affect real estate growth though this is not as important as other considerations.

4)Cost of Construction in a place. Where materials and cost of  construction is low and accessible then real estate will likely thrive in such places.

5)Capital generation of a town will also determine how real estate will thrive in such areas.



6)Increase in economic growth will also make real estate to be attractive in a town.

7)Influx of human traffic to a place will definitely drive real estate.

8)Attraction to investors will also determine how real estate will be profitable in a town.

9)Absence of good residential buildings will make the good and new ones to be very desirable to the populace.

10)Availability of mineral resources.

11)Availability of infrastructural resources.

12)Availability of transportational resources like airport, train stations sea port e.t.c

13)Availability of communication facilities.

14)Good government policies and regulations-Lagos and Abuja will come
to mind in this case, recently houses are being demolished in lagos
because of improper government permit before construction. New investors are now more careful and afraid to build because of fear of demolition.
Getting the permit on itself is very difficult at present because of the bureaucracy involved.

15)Availability of natural resources.

16)Is the town transitory? Hotel will be good for such areas.

17)Does it have plenty of government parastatals? with this you can be sure of growth in such area.

19)War and trouble will definitely affect real estate negatively.

20)Good climate

Going by the points stated above,Abuja, Lagos and Portharcourt will  beat the rest in Nigeria, but they also have advantages and  disadvantages too. Abuja is good for hotels, for low income earners you
can build hostels as common in Europe. Political meetings will always  be held in Abuja and anytime there is a big programme the hotels are  always completely booked.

But Abuja has developed to a very high rentage zone and total separation  of the rich neighbourhood from the poor neighbourhood will at the long  run not help the real estate industry there, that is why there are uninhabited  houses yet people are going far to the suburb to live in slums. But in  Lagos, in every rich area, very close by you will see poor neighbourhood  zone, this helps to create spillovers from rich neighbourhood.
So if you are an investor you can just get properties  close to these rich areas redevelop and clean up the place then you can  have the affluence of your neighbour rubbing off on the properties in the poor neighbourhood though very close to the rich.

Lagos has very high rate of human traffic and influx of graduates from  other states will always make it very attractive for real estate,  Portharcourt despite the kidnappings is the unofficial capital city of  Niger Delta the oil rich region, so expatriate are always attracted to  the place, there you are sure to make very quick and profitable investment.

In conclusion, economy is the chief driving factor of a real estate
investment in an area and for Nigeria ,Portharcourt and Lagos towers
above the rest.

Source

Friday, April 4, 2014

25 Acres of Agricultural Land - Lagos



Date:
    Apr 4, 2014

Type:
    Land

State:
    Lagos

Location:
    Near Badagry, Lagos

Phone:
   

Company / Site name:
    Hm Properties & Co. Nigeria

Price:
    2,600,000.00 NGN

#1
25 Acres of Agricultural Land, Near Badagry, Lagos. N2.6m /acre

Commercial Property fo sale: Ikorodu Town, Lagos State for Sale

An Event Hall On Three Floor + A Pure Water Factory With A Block Making Plant Machine With Facilities, Like Generator, Complete Water Treatment Plant On Two Plot Of Land @ Sabo Road, Ikorodu N120m

Landed Properties In Lagos


Ad Details:
ACING THE LEKKI EXPRESSWAY
1. 6 Acres (2 Hectares+) opposite General Paints by Lekki Gardens II, 20M per plot.
2. 1 Hectare adjacent (almost opposite) LBS, 300M.
3. 1 Acre opposite NIPCO filling station, Olokonla, 150M.
4. 1 Acre opposite Abijo GRA, 90M.