Real Estate - News & More - Nigeria Property Centre

Posts with tag "real estate"

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.

READ MORE >>

For a lot people within and outside Nigeria, it is a country that is relies on oil through and through. We would be nothing without oil, right? Well, you will be pleased to know this is not true, especially today. Did you know, for instance, that the Gross Domestic Product (GDP) grew by about 6.9% in the third quarter of 2013 largely because of the increased contribution of the non-oil sector? What is more, real estate services hold a significant position in this particular sector.

That is one reason why investing in the real estate industry is a great idea, whether as an individual or corporate entity.

READ MORE >>

There are several factors and considerations that determine where people buy properties from. Just like every human endeavor, location is a key factor that determines the price of a product and the possibility or otherwise of making profit. Conventional wisdom demands that One invests or buys a property from an area that Is already developed or near the city centre. A plot of land or a property in such areas are usually very expensive. I was somewhere in Ikeja sometime ago and I was told the asking price for a plot of land there was in the neighborhood of two hundred and forty Million naira i.e almost a million pounds! I think this experience made me to ask in one of my essays whether the prevailing price of real estate in Nigeria is sustainable.

One does not begrudge anybody who spends his hard earned money anyway s/he wants by preferring to buy a property in a so-called posh area or near a bubbling commercial centre. My take is that some of the places we call 'town' or 'city' were once bushes or villages. It probably took a government policy, the location of a government institution, a school or a public infrastructure to transform a village to a city. Envision the now Federal Capital Territory (Abuja). Thirty years ago, that place was a typical village. Fast forward to 2014, Abuja is now a mega city for the creme de la creme of our society.

READ MORE >>

Recall the good old days of Real Estate boom in £the United States of America? Now fast forward to the current situation of depreciating prices in the US, Dubai and other places. Some analysts contend that the current recession, depression bedeviling the United States and the rest of the world is inter alia, a spin-off of the boom and bust phenomenon in real estate in the United States.

In the hey days of this property boom, it is not unusual for prospective house owners and investors in the United States and United Kingdom to access upwards of 100% or more mortgage from Banks or Building Societies such as Fannie Mae, Freddie Mac, Northern Rock amongst others. Depending on the prospective home owner’s credit history and other factors, a mortgagee can be asked to make 10% deposit payment for the apartment whereas the balance is spread say over a 25-30 year period. With the 10% down payment, the mortgagee now becomes a landlord/landlady and will make monthly remittances to the appropriate Bank or Building Society usually through direct debit payments.

READ MORE >>

A property magazine, Royalty International, created to serve the Real Estate, Building and Construction sector in Nigeria plans to introduce a special section known as ‘Millennium Housing’ segment.

The objective of this column is to cover the current achievements of sitting governors in the area of housing, and report on their scorecard, especially in the areas of housing provision and construction. The special section will be starting in the September 2012 edition of the magazine.

READ MORE >>

LAGOS-based 3Invest Limited has opened nominations for the forthcoming real estate awards billed for September in Lagos.

The awards aim to elevate the standards of the industry and practice by providing an opportunity to encourage promote and recognise spectrum of talents, achievements and excellence in the Nigerian real estate Sector.

READ MORE >>

All abandoned properties within the landmass of Lagos State may be taken over by the state government, a step to forestall security threats milling round the metropolis, officials in the Ministry of Physical Planning and Urban Development have hinted.

The officials said the decision was arrived at to ensure that miscreants and criminals do not have the opportunity of converting such properties into hidden places.

READ MORE >>

Here's a quick side by side comparison of the features Nigeria Property Centre offers property seekers in Nigeria against those offered by Google Trader Housing.

Features

Advanced property search by location, category, type, price and no. of bedrooms.
Property search result sorting by listed date, price, category and type.
Email alerts when new properties become available.
Detailed property details pages with property pictures, maps, and full agent contact information.
Quick agent contact for property using pre-typed contact message which makes the search experience friendly.
List of estate agents in Nigeria.
Structured property request.
Optimized for mobile phones (Blackberry, Nokia, iPhone, Android, etc).

Start searching for property in Nigeria for sale and for rent on Nigeria Property Centre.

READ MORE >>

Here's a quick side by side comparison of the features Nigeria Property Centre offers property seekers in Nigeria against those offered by Nairaland Properties.

Features

Advanced property search by location, category, type, price and no. of bedrooms.
Property search result sorting by listed date, price, category and type.
Email alerts when new properties become available.
Detailed property details pages with property pictures, maps, and full agent contact information.
Quick agent contact for property using pre-typed contact message which makes the search experience friendly.
List of estate agents in Nigeria.
Structured property request.
Discussions on property pages.
Optimized for mobile phones (Blackberry, Nokia, iPhone, Android, etc).

Start searching for property in Nigeria for sale and for rent on Nigeria Property Centre.

READ MORE >>

Following our launch in April this year, we have officially hit the 1,000 mark of listed property. This makes Nigeria Property Centre one of the largest property websites in Nigeria with over 750 listed properties for sale and 238 to let.

We have created a significantly more convenient and effective way for property hunters in Nigeria to find their next property: up-to-date property information, available for free, accessible 24 hours a day to anyone with internet access and far more complete in terms of number of properties and depth of detail on each property than through other traditional advertising media.

READ MORE >>