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Appraisal Standardisation in Nigerian finance industry - Moving from Point A to B 

My column last week discussed the myriad of problems faced by the Nigerian Mortgage in­dustry, regarding property ap­praisals for mortgages. To recap, my biggest issue was with lack of valuation data and processes. At the rate we are seeing the market prices explode, the reality of a real estate bubble is so obvious, that everyone in the industry should be concerned. Read More   

Experts see investment growth, increased real estate revenue in Lagos land tax cut

The recent executive order signed by Babatunde Fashola, governor of Lagos State, cutting down land tax charges  by 10 percent, promises to grow investment and increase the state’s revenue from real estate transactions and development significantly, experts say. The drop of land charges from 13 percent to 3 percent, the analysts observe, is quite remarkable. They describe it as not just attractive, but also the most innovative and forward-looking decision taken in the history of land administration in the state. Read More

Estate surveyors to discuss valuation standards

The Nigerian Institution of Estate Surveyors and Valuers, Lagos State Branch, has said there is a need for its members to be taught best practices in valuation standards. The branch said in a statement that it was organising a daylong training forum for members to be abreast of economic challenges as they affected valuation since their opinions would be based on market trends. Read More

Land title: Real estate investors' headache

Stakeholders are upbeat about the prediction of a huge Return On Investment (ROI) in real estate in the coming years. However, a recent report by the World Bank may just be enough caution for prospective investors. It said: “Nigeria is one of the most expensive and difficult places to register and acquire property for businesses in the world.” Read More

Group seeks correct use of storey building

WRONG description of structure of buildings in Nigeria by a wide spectrum of people is becoming a source of concern among the construction industry professionals, hence, the need to educate and enlighten the public has become imperative, Building Collapse Preventive Guilds in Nigeria has said. Read More     

Banana Island: Exclusive location where value appreciation approximate 50% in 12 months

Every society has its exclusive locations where those who are, socially and economically, out of the ordinary nestle their homes generally defined by sophistication, taste, class and luxury living. Nigeria has a fair share of such locations nurtured and sustained by its fast-paced urbanization, an exclusive class of the nuveau-riche and a growing clan of the middle class whose access to cash, uncommon sophistication and penchant for Western lifestyle have redefined their taste and choices. Read More  

RAC Lagos House Price Index - 2015 


The RAC Lagos House Price Index was launched in 2011. It is the first index of its kind to show movements in house prices in Lagos based on average asking price. The last 12 months has been a very interesting period for the Lagos real estate market. As we predicted, house prices rose by single digits across the Lagos Island and Mainland markets. Read More

Introducing Illinois Court!!!

Illinois Court is the newest entrant to the sprawling number of mini estates located in the Yaba GRA enclave mostly referred to as “Yaba Tech Staff Quarters”. See Details   

Introducing Midland Court!!! 

Midland Court is an upcoming residential development located along the Northern Foreshore Scheme on Chevron Drive being developed by Gran Imperio Group (GIG) and Sterling Bank. See Details

RAC Featured Residential Developments  

• undefined   Alcove Homes

•     Bourdillon Court Phase 3

• undefined   Peace Court

•   Praiseville Gardens Estate

•    Royal Estate

To see more of the residential developments we are currently promoting please Click Here

RAC Research Reports

You can download our past research reports from our reports page, please Click Here

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