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Nigeria’s real estate market: What to expect in 2025

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Nigeria’s real estate market: What to expect in 2025

The past year ended with 33% headline inflation and over 200% loss in the Naira value in the last 24 months.

What is happening in Nigeria’s real estate market? Are prices going up or down? Is Lagos still a hotspot for foreign investors? How is Nigeria’s government impacting real estate policies and taxes in 2025?

These are the questions everyone is asking us every day—professionals, buyers, and sellers alike, from Abuja to Port Harcourt and beyond.

Nigeria’s real estate market is one of the most dynamic in Africa. It is driven by a high population growth and a rapid urbanization. The real estate sector had a growth projection of 7.24% in 2024, amounting to a value of $2.14 trillion. By maintaining a similar trajectory, the demand for real estate, particularly in key cities will remain high.

Success in the Nigeria Real Estate would require more than just capital. It will require a careful understanding of the market, good timing, strategic thinking and partnerships that work. Let’s go through a number of things to expect this year 2025.

Boom in residential buildings

Nigeria is staying true to the global trend of rising residential demand. The scale and evolution are unprecedented, ranging from luxury towers to stretched-out villas, multi-family developments and new town projects and more.

This isn’t just about homes — developers have perfected alternative products such as Site and Services, Shell and Core, and Gated community schemes. These create distinct opportunities for increased profitability in real estate business without the necessity to inject more funds.

The driving forces will be Diaspora remittance and urbanization

Many residential buildings will be funded by Nigerians abroad. Due to their unique experience and exposure to luxury we should expect more creative housing delivery solutions to emerge. Internationally branded residences will debut in Lagos, Abuja and some other parts of the country.

Inflation and devaluation: Challenge meets opportunity

The sudden increase in local inflation and foreign exchange levels dominated industry discussions last year. This was bad news for many investors. Yet within these challenges lie a greatest investment opportunity. Just as water always finds its path, consumers will always make ends meet. The exit of many foreign companies has created some investment opportunities.

Health, education and leisure tourism are poised to experience a domestic resurgence. There is likely to be a surge in acquisitions, upgrades and strategic partnerships to develop hospitals, schools, apartments and leisure centres targeted at demand that typically gets this service abroad. The value of naira will consequently improve.

Infrastructure will ease business

The access to infrastructure (especially energy and transportation) will clearly determine the preferred location of factories and industrial parks. This will continue to keep most activities and supply traffic for development concentrated in the old industrial hubs.

SEZs (Special Economic Zones) will remain the popular destinations for new investments. The Lagos Free Zone (Tolaram), Eko Atlantic City, Alaro City and others are at the forefront of these trends. These Public-Private Partnerships (PPPs) are present conditions that reduce the initial risk and challenges of real estate investment and the cost of navigating the complex regulatory environment.

Business operators will seek for stability, reduced operational cost and a shock-proof supply chain more than ever to remain profitable amidst competition.

Facilities management: Rise of property technology

Facilities Management & Maintenance will stand out as an important currency for the property industry. With over 6.9 million sq. ft. of prime offices and retail stock and as the cost of newer buildings sky-rocket, how to maintain older infrastructure will become a significant competitive factor. A well maintained infrastructure will retain its economic value throughout its lifetime.

Despite the economic challenges there is a growing appetite of property end-users for experiential amenities, luxury and class. This will compel investors to prioritize maintaining highly functional services.

Stricter building regulations will raise construction costs, affecting property prices

As a result of the high incidence of building failures experienced in 2024 there will be stricter building regulations in some major cities in the country. These stricter measures will make our houses safer but more expensive.

The price of steel rods, which are essential materials for construction, has gone up. This isn’t just a random spike; it’s partly because builders now have to meet new, tougher standards. When materials cost more, developers don’t just absorb the hit—they pass it on to buyers. So, if you’re looking to buy, expect to see property prices rise as a result.

It is not just materials that are getting pricier. Stricter rules from building regulators will also mean higher operational costs for construction companies. Think about skilled labour and transportation—both are getting more expensive, thanks to factors like exchange rates and inflation. The depreciation of the naira over that of its fellow West African countries has led to the exit of many expatriate semi-skilled building professionals (carpenters, masons etc.). All these factors combined will push property prices up. The federal government has however embarked on massive training of these artisans to cushion this effect.

Abuja under the current government is buzzing with new infrastructure projects, thanks to a boost in government spending. The federal government has approved a total of N159.5 billion for five major projects aimed at enhancing road networks, transportation, and estate access across the Federal Capital Territory (FCT

In 2023, the Federal Capital Executive Council gave the green light to contracts worth N33.24 billion for key projects, focusing on transportation and housing. These developments are set to transform the city, making it more appealing for both residents and businesses. One of the standout projects is the Abuja/Kaduna/Zaria/Kano road rehabilitation, which is expected to be completed by 2025. This road will significantly enhance connectivity, making travel smoother and faster.

With better roads and transport, Abuja will become a hotspot for property seekers. The demand for homes and commercial spaces will rise, driven by factors like population growth and urbanization.

The government’s focus on these improvements will attract more people and businesses to the Abuja and its neighbourhood. This influx is expected to continue pushing property prices upward, making it a good investment destination.

Trump policies

Economic experts think that Trump’s policies will be consistent with strengthening the US economy, having a stronger dollar and maintaining continued strength in US equities. Without doubt, I expect general economic activities to increase in the US as he would likely borrow more and increase government spending.

However, there will be two potential impacts on Nigerians living in the US. If US residential prices increase, they would likely spend their excess income on acquiring more real estate in the US as opposed to investing in Nigeria. On the flip side, Trump’s insistence on deportation of illegal immigrants may see some Nigerians returning home to invest their savings and start all over again. There is no place like home.

But prices aren’t coming down

Property prices are not going to come down in 2025. The provision of cheaper mortgages, reduced interest rates, availability of funding will still take a few years before it can start to significantly affect real estate prices. Demand is still too strong and far ahead of supply due to increased urbanization. Limited infrastructure in areas people want to live, and slow and inadequate supply of new homes in these areas would continue to marginally push property prices up this year or at best, keep it stable.

The Gen Xers are coming back home

Nigerians living abroad who are already in their 50s/60s are likely going to start the wave of ‘Japada’ not just due to the return of Trump to the White House, but also as they are now empty nesters and have excess cash. They will be looking for retirement estates, homes to live in. Homes in Nigeria would become more affordable and attractive to them. Location, security, neighbourhood infrastructure and functionality of the homes in terms of services and spaces will guide their decision on which estate to buy into.

•Okonkwo is an educator and entrepreneur. -culled from – (Nation)

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Federal High Court Rules in Favour of Adron Homes Over Estate Management Rights

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Federal High Court Rules in Favour of Adron Homes Over Estate Management Rights

In a legal victory for Adron Homes, the Federal High Court sitting in Abeokuta, Ogun State, has dismissed the suit brought by the Registered Trustees of the City of David Residents Association (CODRA) and five others, Elder Gbadebo Aromolaran, Mr. Adetokunbo Adeshile, Mr. Olaolu Ayinde, Olusegun Aba Yomi Esq, Oluwadamilare Awokoya Esq, against Adron Homes and Properties Limited.

The case, Suit No. FHC/AB/FHR/58/2023, was presided over by Hon. Justice Abiodun J. Adeyemi, who, after an exhaustive review of the claims and evidence presented, found the Applicants’ allegations to be unsubstantiated, speculative, and without merit.

The Applicants had alleged that Adron Homes infringed on their right to personal liberty. However, the court held that they failed to present any credible evidence showing that Adron Homes posed any threat or committed any act constituting a breach of their fundamental human rights.

Hon. Justice Adeyemi noted that there was no record or proof of any invitation, arrest, or action traceable to Adron Homes that could justify such a claim. He concluded that the allegations were merely speculative and unsupported by evidence.

On the claim of proscription and infringement of the Applicants’ right to freedom of association, the court ruled emphatically that Adron Homes has no power to proscribe CODRA or prevent residents from associating. However, in a critical clarification, the court affirmed that while residents are free to associate among themselves, the legal right to own, manage, and make administrative decisions concerning the estate remains vested in Adron Homes, as the rightful developer and manager.

Justice Adeyemi stressed that the court’s decision was guided strictly by evidence and the law, not by conjecture or subjective interpretation. Consequently, the Applicants’ case was dismissed in its entirety.

Despite Adron Homes’ victory in the lawsuit, the organisation’s true victory is in ensuring the well-being and satisfaction of all its subscribers and residents, and they will not relent in guaranteeing this.

This landmark judgement not only vindicates Adron Homes but also reaffirms its position as a law-abiding, customer-focused developer dedicated to delivering value and protecting the interests of its clients.

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Federal High Court Dismisses CODRAS’ Suit, Victory for Adron Homes

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Federal High Court Dismisses CODRAS’ Suit, Victory for Adron Homes

In a legal victory for Adron Homes, the Federal High Court sitting in Abeokuta, Ogun State, has dismissed the suit brought by the Registered Trustees of the City of David Residents Association (CODRA) and five others, Elder Gbadebo Aromolaran, Mr. Adetokunbo Adeshile, Mr. Olaolu Ayinde, Olusegun Aba Yomi Esq, Oluwadamilare Awokoya Esq, against Adron Homes and Properties Limited.

The case, Suit No. FHC/AB/FHR/58/2023, was presided over by Hon. Justice Abiodun J. Adeyemi, who, after an exhaustive review of the claims and evidence presented, found the Applicants’ allegations to be unsubstantiated, speculative, and without merit.

The Applicants had alleged that Adron Homes infringed on their right to personal liberty. However, the court held that they failed to present any credible evidence showing that Adron Homes posed any threat or committed any act constituting a breach of their fundamental human rights.

Hon. Justice Adeyemi noted that there was no record or proof of any invitation, arrest, or action traceable to Adron Homes that could justify such a claim. He concluded that the allegations were merely speculative and unsupported by evidence.

On the claim of proscription and infringement of the Applicants’ right to freedom of association, the court ruled emphatically that Adron Homes has no power to proscribe CODRA or prevent residents from associating. However, in a critical clarification, the court affirmed that while residents are free to associate among themselves, the legal right to own, manage, and make administrative decisions concerning the estate remains vested in Adron Homes, as the rightful developer and manager.

The court per Justice Adeyemi stressed that the court’s decision was guided strictly by evidence and the law, not by conjecture or subjective interpretation. Consequently, the Applicants’ case was dismissed in its entirety.

Despite Adron Homes’ victory in the lawsuit, the organisation’s true victory is in ensuring the wellbeing and satisfaction of all its subscribers and residents, and they will not relent in guaranteeing this.

This landmark judgement not only vindicates Adron Homes but also reaffirms its position as a law-abiding, customer-focused developer dedicated to delivering value and protecting the interests of its clients.

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NIESV Lagos Chairman Leads Delegation to Adron Homes, Seeks Strategic Collaboration

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NIESV Lagos Chairman Leads Delegation to Adron Homes, Seeks Strategic Collaboration

In a significant move toward fostering synergy between key players in the real estate sector, the Chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos State Branch, ESV Tosin Kadiri, led a high-powered delegation on a courtesy visit to the Chairman of Adron Group, Sir Aare Adetola Emmanuelking KOF. The visit, which took place at the Adron Homes Head Office, demonstrated the growing need for strategic partnerships to accelerate housing delivery and professional integration within Nigeria’s real estate ecosystem.

Welcoming the NIESV delegation, the Group Chairman, Sir Aare Adetola Emmanuelking, a proud member of the Institute, shared an inspiring insight into the journey that birthed Adron Homes. He recalled his early professional experiences in estate management, which shaped his vision to transition into property development, not merely to build houses, but to create cities, communities, and homes that endure.

“Adron Homes was not born out of convenience, but of a calling,” he stated. “The industry is rife with challenges, but if you are truly called and driven by vision, you will stand out. We’ve seen many fall by the wayside, but with determination, resilience, and strategic thinking, we have continued to build and grow.”

He highlighted Adron’s innovative application of the labelling theory in estate development, thematically branding each estate to reflect cultural or geographic inspiration. This, he noted, along with Adron’s heavy investment in infrastructure, has set the company apart as a responsible, visionary, and futuristic developer.

Speaking on behalf of the visiting team, the Chairman of NIESV Lagos Branch, ESV Kadiri Tosin, lauded Adron Homes as a formidable pillar in the Nigerian real estate landscape. He admired the scale and consistency of Adron’s developments and emphasized the need for a more structured relationship between the Nigerian Institution of Estate Surveyors and Valuers (NIESV), and Adron Homes.

“We are here to seek collaboration. We believe that our members can tap into the vast structures and opportunities that Adron Homes has already created,” he stated. Adding to the discourse, the Chairman of the NIESV Cooperative Society echoed the call for a deeper partnership. He proposed a collaborative housing scheme wherein Adron Homes could allocate a zone within its existing estates for NIESV members to create bespoke properties, aligned with their professional dreams and financial capabilities. According to him, “This collaboration could bring our collective dream into the larger Adron vision.”

In addition, the NIESV Lagos Chairman proposed a strategic partnership where experienced members of the institute, particularly those with expertise in estate and facility management, can be integrated into Adron Homes’ operations to create added value across its estates.

In his response, Aare Adetola Emmanuelking welcomed the proposals with open arms, expressing optimism about the future of a deepened collaboration between both parties.

“We’ve enjoyed a cordial and mutually beneficial relationship with NIESV Lagos Branch in the past,” he said. “This administration brings renewed energy, and we are eager to deepen that relationship in meaningful and strategic ways. We are always open to working with professionals whose values align with our mission and vision.”

Members of the NIESV Lagos Branch delegation took turns to commend the impressive footprint of Adron Homes across the nation. One of the executives remarked, “This visit has been an eye-opener. As practitioners in the industry, we often underestimate the breadth and depth of being a real estate developer. Today, we’ve gained a new perspective, and more importantly, renewed inspiration.”

In attendance at the high-level meeting were several NIESV executives; the Vice-Chairman, ESV Ayodeji Odeleye, the Honorary Secretary, ESV Olaseni Lojede, among others, as well as Adron Group’s management team, including the Managing Director, Adenike Ajobo; the Group Company Secretary, Shola Orunmuyiwa; the Deputy Managing Director, Business Investment, Chitola Roberts; the Chief Press Secretary, Maureen Echefu; and the Personal Assistant to the Chairman, Faruq Salisu, among other company executives.

The meeting ended on a promising note, with both institutions expressing strong commitment to building a collaborative future. The engagement marks a pivotal step toward the professionalization of housing development and delivery, opening doors to mutually rewarding collaborations between developers and estate professionals.

With visionaries like Aare Adetola Emmanuelking at the helm, championing sustainable development and collaboration, the future of Nigeria’s real estate industry continues to look exceptionally bright.

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