Experts identify challenges, prospects for real estate investment
AGOS- based real estate firm, Messrs Lifepage, has said operating in the sector has become tough
due to fluctuating costs of project development, inflation rates and other limitations.
The Chief Executive Officer of the company, Mr. Oladipupo Clement, stated this at a forum to mark the held in Lagos.
The symposium attracted experts from branding, financial, educational institutions and real estate.
The experts highlighted government policies and framework as they relate to the industry, growth strategies for operators, brand positioning and promotions, investment opportunities and partnerships, as well as how to attract Foreign Direct Investments ( FDI) and funding to the sector.
Some of the speakers at the event included, Principal, Alder Consulting, Mr Leke Alder, Best Selling Author,
Dr. Olumide Emmanuel, the chief executive of Business School Netherlans ( BSN), Nigeria, Prof. Lere Baale,
Clement said despite the challenges, there are several opportunities for making it as a realtor in Nigeria, especially through scheme such as the referral method, which requires little or no funding to get started.
Speaking on, ‘ wealth creation opportunities in the Nigerian real estate sector”, Clement said there are four primary ways to play in the space, stressing that these include, being a regulator, developer, investor to being a realtor.
To him, being a realtor is the cheapest way to play in the industry, as it requires connecting buyers to sellers.
Citing the real estate industry report 2020 by Agusto
and Company, he stated that the Nigerian real estate industry, as at two years ago, in terms of size, was valued at 3.96 trillion dollars. This, he said is an indication that without any financial contribution from realtors, connecting buyers to seller will yield them income without hassles, which was a system that has worked for brands in other markets like; Amazon, Nike and others that play in other industries.
A financial services consultant, Senami Amusu, who highlighted how to attract foreign investors for real estate practitioners, what foreign investors are looking for and how technology takes center stage in real estate, noted that funding for real estate industry is not as straight and narrow as people think it is but, it is a mixture of many things.