To support the federal government’s move to bridge the housing deficit in the country, Rehoovot Nigeria Limited has committed to providing affordable housing.
“Nigeria’s rapid population growth often outpaces the rate of housing development, leading to housing shortages, particularly in urban areas,” Kinbinu Samuel, managing partner, Rehoovoot Nigeria said during the second edition of the Unleashed 4 Takeover Conference.
“This situation gives rise to slums, informal settlements, and overcrowded living conditions,” he said.
According to him, the inability to meet the housing needs of the population puts pressure on the existing infrastructure and worsens socio-economic challenges.
He said the goal for Rehoovoot Nigeria is to help investors, buyers, sellers, and those looking to rent properties get the best available deals in the market.
“Nigeria, the most popular country in Africa, continues to deal with the challenges and opportunities that come with a rapidly growing population. One key industry that has been impacted by this demographic shift is real estate,” he said.
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“This is why we must investigate the positive and negative effects of population growth on Nigeria’s real estate market, shedding light on the complexities that arise as stakeholders in this sector strive to strike a delicate balance.
“An increase in demand and property value is one of the benefits of population growth. A rise in property values results from the increasing demand for homes that comes along with population growth.
“Because of the growing demand for real estate, especially in urban areas, homebuyers, and real estate investors can earn sizable returns on their investments.”
Rehoovoot Nigeria is on the journey to meet the increased demand for these real estate services, providing solutions related to short-let services, purchasing properties, and renting a property.
As players in the industry, Rehoovoot will continue to harness the opportunities that the industry offers, they are also faced with the challenges the real estate sector presents.
The conference brought together over 1,500 participants and 20 speakers allowing real estate industry players to not only connect but also inspire other career professionals and entrepreneurs across the industry.
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