ILLEGAL OCCUPATION OF PROPERTY Section 4 of the new Law provides that a person who is occupying a property as an encroacher and fails to leave the property on being required to do so by or on behalf of the owner of the property commits an offence and on conviction shall be liable to a fine not exceeding five million naira or five years imprisonment or both. The Law extends the meaning of property to include ‘a reference to an access to the property, whether or not any such access itself...

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...

The African real estate market is beginning to show signs of recovery and stability. In a fast-moving world, the real estate industry needs to adapt itself taking into account geopolitical, economic, societal and technological challenges. The recent economic downturn has caused the real estate sector in Africa to fall below the projected 2.6 percent regional growth. The Economic indicators show that Nigeria is gradually coming out of recession. However, balancing short-term indicators with...