Value of UK housing stock dropped by £27bn in 2023 as high costs hurt market
The UK’s housing stock has seen its first annual decline in value since 2012 after some £27bn was wiped off last year, according to new analysis, amid higher mortgage costs and pressure on household finances. Figures from property firm Savills showed that despite
Tenants Groan As FX, Interest Rate, Inflation Push Up Rents
The haemorrhaging economic condition in Nigeria is impacting negatively on various sectors including the real estate market and its supply chains. This impact is, in more ways defining the economy of the sector in the first quarter of 2024 as more renters groan
Jay Jay Okocha Builds 100 Bungalow Houses For The Poor And Homeless People
Jay Jay Okocha builds 100 bungalow houses for the poor and homeless people in the hometown where he was born. Okocha who hails from Anioma in Delta State is building a total of 100 bungalows in a community in Enugu where he was
Former NBRRI CEO Urges Nigeria: Embrace Local Materials to Tackle Soaring Housing Costs
Razaq Lawal, former chief engineer at the Nigerian Building and Road Research Institute (NBRRI) under the Federal Ministry of Science and Technology (FMST), has emphasized the critical importance of leveraging local building materials to curb the escalating costs of purchasing and renting apartments
Former NBRRI CEO Urges Nigeria: Embrace Local Materials to Tackle Soaring Housing Costs
Razaq Lawal, former chief engineer at the Nigerian Building and Road Research Institute (NBRRI) under the Federal Ministry of Science and Technology (FMST), has emphasized the critical importance of leveraging local building materials to curb the escalating costs of purchasing and renting apartments
Former Minister Fashola Urges State Review of Tenancy Laws for Monthly Rent Collection
Former Minister of Power, Works, and Housing, Babatunde Fashola, has advocated for the revision of tenancy laws across states to mandate landlords to collect rents on a monthly basis. Speaking at the launch of his book titled “Nigerian Public Discourse: The Interplay of
“We May Soon Start Sleeping Under Bridges” Residents of Lagos cry out, as Cost of Accomodation Shoots Up
By Sylvester Kwentua Residents of Lagos are pleading with the state Government to find a lasting solution to the high cost of accomodation in the state, before it gets out of hand. In a random vox pop by this reporter on Thursday in
Oyo State Issues Warning to Seize Abandoned Properties Amid Insecurity Concerns
The Oyo State Government has unveiled plans to take over abandoned structures and properties that pose security threats and serve as hideouts for criminals in the state. In a statement issued on Wednesday, the state’s Commissioner for Lands, Housing, Survey, and Urban Development,
FG kicks off N100b Renewed Hope cities, estates scheme in Abuja
The Federal Government will today lay the groundwork for the construction of 3,112 housing units in the Karsana area of the Federal Capital Territory (FCT) under the first phase of the 20,000-unit Renewed Hope Cities and Estates programme. The ground-breaking exercise to be
$900bn dead capital locked up in real estate — PwC
PricewaterhouseCoopers Nigeria has said that it estimates that Nigeria holds as much as $900bn worth of dead capital locked up in residential real estate and agricultural land. The multinational professional services network stated this in a new report titled ‘Nigeria Economic Outlook: Seven
