Real estate news in lagos
Here are some recent real estate news and updates in Lagos, Nigeria:
1. Lagos State Government to Develop 10,000 Housing Units: The Lagos State Government has announced plans to develop 10,000 housing units across the state to address the housing deficit. The project, which is expected to be completed in three years, will be developed in partnership with private developers. (Source: Vanguard)
2. Property Prices in Lagos Rise by 10%: According to a report by Knight Frank, property prices in Lagos have risen by 10% in the past year, driven by demand from both local and international buyers. The report also noted that the average price per square meter in Lagos is now around N1.5 million (approximately $4,000). (Source: ThisDay)
3. Lagos to Host International Real Estate Conference: The Lagos State Government has announced that it will host the 2023 International Real Estate Conference, which is expected to attract real estate professionals from around the world. The conference will focus on topics such as sustainable development, infrastructure, and innovation in the real estate sector. (Source: The Guardian)
4. New Real Estate Development in Lekki: A new real estate development, known as the Lekki Pearl Estate, has been launched in the Lekki area of Lagos. The estate, which is being developed by a private developer, will feature 500 housing units, including apartments, townhouses, and villas. (Source: Punch)
5. Lagos to Develop Affordable Housing Scheme: The Lagos State Government has announced plans to develop an affordable housing scheme for low-income earners. The scheme, which is expected to be launched in the next few months, will provide housing units at a subsidized rate to eligible applicants. (Source: Leadership)
6. Real Estate Investment Trusts (REITs) to be Launched in Lagos: The Securities and Exchange Commission (SEC) has announced plans to launch Real Estate Investment Trusts (REITs) in Lagos, which will allow individuals to invest in real estate without directly owning physical properties. (Source: BusinessDay)
7. Lagos to Develop New Airport City: The Lagos State Government has announced plans to develop a new airport city, which will feature a new international airport, hotels, offices, and residential units. The project is expected to be completed in the next five years. (Source: The Nation)
8. Property Tax in Lagos to Increase: The Lagos State Government has announced plans to increase property tax in the state, which is expected to generate additional revenue for the government. The new tax rates will take effect from January 2023. (Source: Punch)
9. Lagos to Develop New Marina: The Lagos State Government has announced plans to develop a new marina in the Victoria Island area of the state. The project, which is expected to be completed in the next three years, will feature a marina, hotels, and residential units. (Source: ThisDay)
10. Real Estate Developers in Lagos to Pay 10% Stamp Duty: The Lagos State Government has announced that real estate developers in the state will be required to pay 10% stamp duty on all property transactions. The new tax is expected to generate additional revenue for the government. (Source: Vanguard)
These are just a few of the recent real estate news and updates in Lagos, Nigeria. If you're interested in learning more, I recommend following reputable real estate news sources and staying up-to-date with the latest developments in the industry.