Property News, Tips And Advice - Nigeria Property Centre

Property News, Tips and Advice

Nigeria Property Centre, January 3, 2019 - Nigeria Property Centre (NPC), a leading property search website in Nigeria has announced its performance figures for 2018.

The numbers show the site attracted 7.4 million visits which generated 929,000 enquiries for property listed on the website. The number of visits to the site was up by 64% while the number of enquiries generated by NPC in 2018 was up by 165% compared to the previous year. There were 129,000 property listings added to the website in 2018 which represents an 11% decrease compared to 2017. The portal reported that the decline in listings added to the site was as a result of the introduction of new quality standards for listings in 2018.

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    Nigeria Property Centre, January 30, 2018 - Nigeria Property Centre (NPC), a leading property search website in Nigeria has announced its performance figures for 2017 which highlights it's progress.

    The numbers show that 145,000 property listings were added to the website in 2017 which represents a 12% growth compared to 2016. The website attracted 4.5 million visits which generated 350,000 enquiries for property listed on the website. The number of enquiries generated by NPC in 2017 was up by 161% compared to the previous year.

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      Without boring you with dictionary definitions, estate agency is a fiduciary relationship whereby a person (referred to as ‘an estate agent’) act as an intermediary between a principal (property owner/landlord) and another party (property buyer/tenant).

      Many people (including some Estate agents) have misconstrued who an estate agent is, as well as the functions/roles of an estate agent. Almost everyone, especially if you had ever attempted to rent/lease or buy/sell a property would have come across an estate agent, or someone who claims to be one.

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      Food for thought:

      "You don’t need to be an expert in order to achieve satisfactory investment returns... Focus on the future productivity of the asset you are considering.. If you instead focus on the prospective price change of a contemplated purchase, you are speculating.. Games are won by players who focus on the playing field – not by those whose eyes are glued to the scoreboard... " - Warren Buffett

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        If we must move forward as a nation, we need to whittle down a penchant for raw use of power, coercion and extortion. A while ago it was reported that Soldiers were used to stop Ikoyi’s 850 capacity car park project been carried out by the Lagos state government because of a dispute over ownership of the piece of land. Incidentally, the Lagos State government is not immuned from the use of bravado, force and fiat while ejecting folks whom they deem to have ran foul of the law. As they say, what goes around comes around. In our clime, it is common practice to see folks using their positions to intimidate or frustrate other people. It beggars belief that in a country that lacks an encouraging mortgage regime, it is a harrowing experience before people can build their own houses because some so-called omoniles and corrupt, over-zealous town planning authorities are bent on frustrating prospective home builders.

        For the uninitiated, "Omonile" is a Yoruba word for 'owners of the land or son of the soil'. The irony however is that in many cases those claiming to be 'sons of the soil' migrated from somewhere and are not true indigenes of that locality.

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          The current article is the third in our series on personal and residential security. Here is the link for the Part I and Part II of this series. Herein we shall highlight some issues, oversight that will pose a security risk, lapse if not factored in.

          The first one is a penchant for hosting private parties, events, reception inside one's premises. This is quite common in Nigeria. The unprecedented insecurity situation in Nigeria calls for caution, restraint in organising "owambes" (parties) within one's premises. The snag here is that more often than not, uninvited folks will tend to gate crash into parties. The exception is where there is adequate access control and security practitioners on ground to checkmate intending gate crashers. Even when all the guests are duly invited and armed with their IV's, there is no guarantee they will not use such occasion to spy on the hosts property or acquisitions. Common sense should let us know that it is not everyone that has come to 'celebrate' with us that is truly happy with us, some may have some ulterior motive. More often than not, items and personal belongings grow wings aftermath of hosting parties, events within homes.
          If you are concerned about the prospect of your personal effects disappearing sequel to hosting a party in your premises, please consider doing it in an Event Centre which are not in short supply these days.

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            Our House Hunting Naija Style Competition ended at the start of the month and we’d like to say a big thank you to everyone who contributed and shared the competition.

            Without further ado we can now announce the winner of the competition is Henri Yire! He wrote about his experience of househunting since he got about from the UK. Read more about it here.

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              By and large, Ikoyi is a posh neighbourhood with a mishmash of exquisite residential apartments and commercial presence.
              Ikoyi borders the Lagos Lagoon and takes up the eastern half of Lagos Island. It is one of the towns that make up the Eti-Osa Local Government Area of Lagos state.
              Originally, the British Colonial Governments designated Ikoyi as a residential area for the expatriate community perhaps due to its proximity to the sea. However this arrangement changed with time with big establishments locating their corporate headquarters at Ikoyi. Ikoyi is home to the creme de la creme of the Nigerian society, from diplomats to senior company, business executives and senior public servants.

              Cost of Accommodation in Ikoyi

              Ikoyi is definitely a splendid place to live or work in. Peopled with well educated, enlightened group of residents and with a superfluity of luxury apartments in this part of Lagos, you can be sure to secure a comfortable accommodation comparable to those in Europe and America so long as you have the financial war chest. A typical 3 bedroom apartment in areas like Banana Island, Park view estate, attracts rent of as much as N24 million (about $150, 000) per annum while the average price of buying an apartment in Banana Island is upward of $8 million. It is common to see prices of real estate in this part of Lagos denominated in United States dollar. Banana Island an exclusive playground of Nigeria’s obscenely wealthy, is reportedly Nigeria’s most and expensive neighborhood – at par with the Seventh Arrondissement in Paris, La Jolla in San Diego, California and Tokyo’s Shibuya or Roppongi neighborhoods. Accommodation in places around Obalende and Dolphin estate are comparatively less expensive but still beyond the reach of many middle class folks.

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              Technology and the internet in particular have revolutionized the way we do things. It’s a digital world we live in and there are software applications for just about anything. Lately I scanned and emailed a tranche of my personal documents right from my phone. It is amazing how a phone now does everything a typical 'business centre' can boast of. No wonder this is not the best of time for cyber cafes and business centres.

              Herein, we are going to chronicle some software applications that will enhance your real estate or property management business. If you are still analogue, running your Real Estate Agency or Property Management business manually, then it is high time you embraced innovation.  This is not necessarily an endorsement but an attempt to make your work easier and more efficient. Now here is a rundown of Real Estate, Property Management software and companies selling them:

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                Our next port of call in this series of profiling what makes the different parts of Lagos tick, is Ibeju-Lekki.

                The name Ibeju-Lekki is derived from the name of two autonomous communities: Ibeju and Lekki. Ibeju-Lekki shares boundaries with Ogun state to the north, Eti-Osa local government to the west, Epe local government to the east and the Atlantic Ocean to the south. Some of the prominent communities in Ibeju-Lekki include: Abijo, Awoyaya, Lakowe, Bogije, Sapati, Igando-Oloja, Arapagi, oke-odo Elemoro, Akodo, Magbon-Alade, Eleko, Debojo, Solu-Alade, Iwerekun amongst others.

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