Global Real Estate News
• Cautious Optimism Amid Political Uncertainties: A report by PwC and the Urban Land Institute indicates a cautiously optimistic outlook for global real estate, highlighting opportunities in data centers and energy infrastructure despite geopolitical and economic concerns.
• Market Volatility Affects Major Deals: Recent market downturns, triggered by newly announced U.S. trade tariffs, have led to significant declines in stock exchanges, casting uncertainty over several major business deals. For instance, Domain’s shares dropped 5%, trading below CoStar’s acquisition offer, raising concerns about the stability of such transactions.
African Real Estate News
• Market Potential Projections: Experts project that Africa’s real estate market has the potential to reach $17.64 trillion by 2025, driven by urbanization and economic growth across the continent.
• Investment Boom in East Africa: The East African real estate market is expected to grow by 12% in 2025, driven by increasing demand for housing and commercial spaces. Investors focusing on property development in this region are likely to see significant returns.
Nigerian Real Estate News
• Digital Transformation in Property Industry: Taiwo Salam & Co. Properties Ltd. has launched ‘Our Property NG,’ Nigeria’s first all-in-one real estate platform. This initiative aims to empower property agents, managers, and real estate firms with a strong digital presence, facilitating easier property listings and connections with potential buyers.
• Calls for Sector Reforms: Real estate consultant Emmanuel Oluwayomi has emphasized the need for urgent reforms to address challenges in Nigeria’s real estate sector, advocating for policies that promote transparency, efficiency, and sustainable development.
• Identifying Growth Areas: Industry experts have identified peri-urban development, fractional ownership, and cost-effective sustainability innovations as key drivers for growth in Nigeria’s real estate sector. Investments in infrastructure connecting peri-urban areas to urban centers are seen as pivotal for expanding the investment basket.
Lagos Real Estate News
• Off-Plan Sales Revival: Developers in Lagos are implementing innovative strategies to revive off-plan sales, such as investing in estate infrastructure and offering attractive incentives to subscribers. These efforts aim to attract investors and first-time homebuyers despite prevailing socio-economic challenges.
• Mass Evictions for Luxury Developments: Thousands of residents along the Lagos coastline have been evicted by the Nigerian Navy and government authorities, purportedly to make way for luxury developments. This move has raised concerns about displacement and the socio-economic impact on affected communities.
• Addressing Ghost Housing: The Lagos real estate market is confronting the issue of ‘ghost housing,’ where high-end properties remain unoccupied despite a severe housing deficit. This phenomenon is attributed to speculative investments and highlights the need for more inclusive housing policies.
