Real Estate Experts Lament Economic Downturn, Call for Government Intervention and Affordable Housing Solutions
Real estate industry experts have raised concerns about the current economic downturn in Nigeria. Speaking in separate interviews with our correspondent at the 30th Edition of the Annual Memorial Lecture on January 31, 2024, in honor of the first president of the Nigerian
Kenya-National Assembly’s Finance and Housing Committees Conclude Public Input on Affordable Housing Bill
The joint committees of Finance and Housing in the National Assembly have wrapped up their public engagement phase regarding the contentious Affordable Housing Bill, 2023. Their 12th and final public participation session, held on Tuesday, focused heavily on discussions surrounding alternative funding methods
Lagos State Government Issues Final 30-Days Warning to Revert Illegally Converted Residential Buildings
The Lagos State Building Control Agency (LASBCA), led by General Manager Gbolahan Oki, issued a final 30-day notice on Tuesday to owners and occupants of residential structures unlawfully transformed into religious houses, clubs, lounges, and bars without proper approval for change of use.
Seoul Unveils Affordable Housing Initiative
The Seoul Metropolitan Government revealed its initiative on Tuesday, aiming to provide economical housing options for residents aged 65 and older. These residences, located near subway stations and medical facilities, will be offered at 30 to 85 percent of the local market prices.
Abuja Court Orders Eviction Of Pharmacist For Refusing To Pay House Rent Since 2015
A High Court in Abuja has ordered the eviction of a pharmacist, Kelechi Osuji, from his residence at Same Global Estate, Lokogoma District, for owing rent since 2016. In suit number FHC/HC/BW/CV/721/2016, Mr. Osuji sued his landlord, Mr. O. Ifedapo, and the caretaker,
Democratic senators call on Fed to cut interest rates over high housing costs
Several Democratic senators urged the Federal Reserve on Sunday to cut interest rates, which they argue have “aggravated the country’s persistent crisis of housing access and affordability.” In a letter to Fed Chair Jerome Powell, Sens. Elizabeth Warren (D-Mass.), John Hickenlooper (D-Colo.), Jacky Rosen (D-Nev.) and Sheldon Whitehouse (D-R.I.) said the central bank’s
Lagos Goes Tough On Buildings Without Town Planning Permit
Lagos State Government has urged members of the Association of Estate Agents in Nigeria (AEAN) not to deal in any property without a planning permit in the state. The state’s Commissioner for Physical Planning and Urban Development, Dr Oluyinka Olumide, gave the advice,
UK: Huge Effort Needed To Fix Housing Issues
A “wartime mentality” is required to improve the lives of tenants and tackle the backlog of housing repairs in Birmingham, campaigners have said. Birmingham Fair Housing Campaign said was continuing to receive calls from families battling mould and damp, despite assurances from council
Inflation And Exchange Rate Spikes Ignite Borrowing In The Real Estate Sector
The real estate and construction sectors in Nigeria have witnessed a surge in bank borrowings, but this hasn’t translated into an improvement in housing stocks. The rise in inflation and exchange rate volatility poses challenges to developers, potentially leading to a crisis as
Concerned Subscriber Petitions Lagos State Government Following Breach in Property Transaction”with estate developer
The legal battle intensifies as Mrs. Olubukola Akande and Mr. Oluyomibo Olaniyan, a US-based couple, escalate their dispute with Landwey Investment Limited over the protracted delay in delivering their promised three-bedroom terrace duplex in Lagos. The family’s saga began on February 11, 2022,
