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Rise in housing costs push homeownership out of reach Point1 Homes CEO
2025-04-21 18:45:04| Spiritual Career Counseling
The Chief Executive Officer, Point1 Homes and Properties Nigeria Limited, Samuel Akeba, bares his mind on some of the challenges bedevilling the real estate industry in this interview with JOSEPHINE OGUNDEJIWould you say your industry is over-regulated or under-regulated?Nigerias real estate industry is plagued not by a lack of regulations but by weak enforcement in critical areas such as land documentation, construction standards, and consumer protection. While numerous laws exist to guide land ownership, building safety, and property transactions, their implementation remains inconsistent. This gap has created an environment where fraudulent practices, substandard construction, and bureaucratic inefficiencies thrive, making real estate investments riskier than they should be.One of the most pressing issues is the flawed land documentation and title registration process. The Land Use Act of 1978 centralises land ownership under state governors, requiring individuals and businesses to...
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