Anybody that has had dealings in the real estate sector in Nigeria, particularly in the urban areas like Lagos and its environs will know the numerous dirt and risks associated with land acquisition and development. Prominent among the hazards that bewitch the process of land acquisition and ownership in Nigeria is the menace of the ‘omo onile’ (as it is popularly called) which literally means ‘sons of the landowners’; the ‘ajagungbale’ (meaning one that ‘fights war to obtain...

Tired of paying rent weekly, monthly or annually for your home or office? Have you realised that as a bigger boy or girl the time has come to own a property of your own and fast? Do you want to avoid the hassle of buying open land and developing it? Then congratulations! Here’s the low down on how you can ‘step up’ sharply! Decide on your financials: Do you have the cash to buy this house? If you plan to take a loan, where from and how do you intend to repay? You must have a good...

This might come as a shock to you. But it’s a fact. The value of property does fall (contrary to the belief held by some). Knowing what factors determine the price of land and buildings over time will help you make your property acquisition decision wisely, and avoid making a loss in real terms. Here are some things to examine when choosing the property you want to buy, or keep. Market Trends Price changes for similar goods tend to move in the same direction, and this is the case with...