Payment default: Developers may embrace rent-to-own scheme

Apparently buoyed by the success recorded so far under Lagos’ rentto- own housing policy, developers, the Federal Government and states have been implored to tinker with the idea. Dayo Ayeyemi writes When the Lagos State Government disclosed plans to begin the rent-toown policy in order to enhance homeownership, many doubted the sincerity of the government, considering its numerous empty houses with high price tags. However, the policy, which has produced 500 new homeowners in the last three months, is gradually becoming the cynosure of all eyes as real estate developers…

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Developer mulls modern tech for housing

Developers of Lekki Pearl Estate, Messrs Alpha Mead Development Company, has called for more investment in modern technology as works advance in their housing scheme. He made this call in Lagos at the first edition of the open house forum for 2017 held on the site of the project. The developer urged colleagues to adopt modern technology to revolutionise housing delivery in the country. Managing Director, AMDC, Mr. Femi Akintunde, said the estate was built using the cast-in situ modular building system, a technology used to deliver affordable housing at…

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Surveyors seek regular updates of N3bn mapping project

The Nigerian Institution of Surveyors (NIS) has urged Lagos State Government to ensure sustenance of regular updates of its N3billion mapping project, first of its kind in the country. Chairman of NIS, Lagos chapter, Mr. Gbenga Alara, who made this call in Lagos, said such regular update is to ensure that spatial content of the geospatial data is most current for effective use for development control, planning and engineering design. Alara, who described the state’s mapping project as ‘very ambitious and a landmark initiative,’ said the technology was yet to…

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Housing cost rises as surveyors raise fee

Latest review of guidelines by surveyors in Lagos State, in which land survey fee was raised by 300 per cent, is generating concern among other stakeholders in the sector. DAYO AYEYEMI reports     The recent 300 per cent increase by in cost of service fee by the Nigerian Institution of Surveyors (NIS), Lagos State chapter, is raising lots of dust among other stakeholders in the built environment. While some see the increment as a step in the right direction, others have had to query the rationale behind it at…

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Architects : It’s criminal to engage non-professionals

Anyone that engages the services of non-professionals in building design is committing a criminal offence, design experts under the auspices of the Nigerian Institute of Architects (NIA), Lagos chapter, have said. Chairman, Lagos NIA, Mr. Fitzgerald Umah, stated this in Lagos. He spoke against the backdrop of incessant building collapse in the country, especially Lagos State, with attendant loss of lives and properties. He pointed out that noninvolvement of right professionals in building design and management was a major cause of building collapse in the country, adding that various investigations…

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NMRC, developers laud Nigeria’s House Price Index

The Nigerian Mortgage Refinance Company (NMRC) and developers of Lekki Gardens have thrown their weight behind the takeoff of Roland Igbinoba House Price Index (RI), the first in the country. Executive Director of NMRC, Mr.Kehinde Ogundimu, who represented his managing director, gave insight into the usefulness of a house price index in Lagos. He pointed out that absence of useful data had been a major challenge to government, home seekers and investors in the drive to make decision about housing market. He lauded President of Pison Housing Company, Mr Roland…

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House prices fall 28% in Lagos, 58% in Abuja

House prices have continued to nosedive in some locations in Lagos and Abuja despite efforts to revamp the economy by the Federal Government. According to findings by New Telegraph, house prices in Agege, Ajah, Ibeju-Lekki in Lagos have fallen by 8.6 per cent, 28.6 per cent and nine per cent respectively due to low purchasing power of home seekers and general recession in the economy. Also, five-bedroom houses in Jabi, Abuja, have nose-dived by 58 per cent in first quarter of 2017. Besides, rental values in these locations also fell…

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