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  One of the biggest challenges a lot of people who genuinely want to invest in real estate face is suitable financing. The thing is investing in real estate is a very lucrative and profitable endeavor, but it often requires a huge initial capital, and so for many people who honestly do not have such an amount or the loan equivalent, exploring alternative avenues such as real estate joint ventures can be a game-changer. So before we go on, what is a real estate joint venture? “A real estate joint venture ( JV ) is an agreement between two or more people to simply combine their resources to develop a real estate project, these resources could be money, man power, material, or expertise as the case may be” Real estate joint ventures investment pools provide a viable pathway for you to enter the world of real estate investing, even with a limited income. By joining such a pool, you can diversify your investments, tap into expertise, share responsibilities, and potentially generate p...

Operators in the real estate sector have attributed the decadence in the country’s real estate sector to greed. The Chief Executive Officer of Land Republic, Victor Adegbile, said developers needed to imbibe a value system that put people above profit. He said, “A country that places value on money above the safety and thriving of her human capital cannot stand. And this cuts across all sectors of the economy. Other factors that can contribute to building collapses are natural disasters. It is important to thoroughly analyse the specific circumstances surrounding each collapse to better understand the causes and prevent future occurrences. Lagos can be said to be the country’s biggest commercial and real estate hub. We cannot continue to record issues of building collapse, because it leaves a negative impact on the quality of our real estate and infrastructure here. “Any agency collecting bribes instead of enforcing the law and order must know that it is influencing environmental degra...

The real estate and construction sector have continued to grapple with multiple effects of depreciation in the country’s naira value, as cost of raw materials, labour and transportation and contracts skyrocket. But despite the naira hitting an all-time low of N810 against the dollar, Nigerians are hopeful of a silver lining, as a weaker naira against the dollar makes investing cheaper for Non-Resident Nigerians (NRNs) and foreign investors. As of last week, naira continued to lose its value at the current exchange rate of about N827 to the Euro and N976.72 to British Pound sterling at the parallel market. The development has thrown up socio-economic effects in the real estate industry at both the production and consumption levels. Over 60 per cent of building materials used in the production of buildings is imported. The continuous naira depreciation has also impacted the cost of borrowing to finance real estate projects and interest rate, which is about 30 per cent. The ripple effect ...

Empty desks and vacant office buildings are becoming a huge challenge to commercial property owners and managers, as companies adopt Work from Home (WFH) amid economic realities in the country. The COVID-19 pandemic had set the stage for remote work among many employees, which became a permanent feature thereafter, exacerbated by removal of fuel subsidy, rising operation and staff transportation costs. The segment’s values continue to fall as offices come under pressure from hybrid working trends and heightened risk of obsolescence. In a report recently, Northcourt had predicted that the adoption of flexible work arrangements may deepen, following the removal of the fuel subsidy. In the short term, increased pump prices will force firms to either increase transportation components in pay or adopt more work-from-home and hybrid work models. It said some firms that had previously returned fully to working from the office may need to revisit work-from-office schedules to ease the immediat...

  I believe a number of us will agree we do not have the best housing and real estate practices within Nigeria and Africa, as there are so many elements that contribute to our living satisfaction and frustration asides location, when renting or buying a property, we ask questions like; oh how is strength of the GLO or MTN network here? How much power supply does the area get? Is the Landlord or lady staying within the same compound? the best of us will ask about the inflation rate on rent, honestly these are all important questions, but there are a few other things that need to be addressed that contribute greatly to your living peace and tranquility . This is why we at builtadvice have decided to draw out 10 very important discussions you need to have with your real estate agent or landlord before renting or buying a property, you could pose them in form questions or just sit and talk about them, whichever way, do not be passive or brief about getting an answer, if your recipi...

IT is a known fact that real estate is at the core of almost every business, and certainly at the core of wealth creation, but have you ever wondered how these multi-millionaires and billionaires manage their real estate investments, clearly they must have a set up different from that of the average landlord and landlady, the answer is quite simple, they set up what we at Built-Advice call a “ REAL ESTATE PORTFOLIO ”, what is this you might ask? Well as we all know, a portfolio basically is a collection of financial investments, be it stock, bonds, shares, commodities, cash or any equivalent, in this case we refer to a compilation of real estate investments, a short to long list of well-managed single to joint owned landed properties, could be a few building properties to some small to large pieces of land here and there, or all over the place. It is never too early or late to set up a real estate portfolio, either as an individual, for your children, a family, company or organizat...