{"id":230,"date":"2014-03-26T13:00:13","date_gmt":"2014-03-26T12:00:13","guid":{"rendered":"https:\/\/blog.iese.edu\/africa\/?p=230"},"modified":"2016-10-28T15:37:52","modified_gmt":"2016-10-28T14:37:52","slug":"the-ins-and-outs-of-real-estate","status":"publish","type":"post","link":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/","title":{"rendered":"The ins-and-outs of real estate"},"content":{"rendered":"<p>Look at the picture below carefully and read the sign there. You&#8217;ll see one of the <b>ins-and-outs of real estate in Nigeria<\/b> \u2013 and I suspect that similar ones may appear in the rest of Africa:<\/p>\n<figure id=\"attachment_244\" aria-describedby=\"caption-attachment-244\" style=\"width: 726px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/blog.iese.edu\/africa\/files\/2014\/03\/real-estate1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-244\" alt=\"real-estate\" src=\"https:\/\/blog.iese.edu\/africa\/files\/2014\/03\/real-estate1.jpg\" width=\"726\" height=\"354\" srcset=\"https:\/\/blog.iese.edu\/africa\/files\/2014\/03\/real-estate1.jpg 726w, https:\/\/blog.iese.edu\/africa\/files\/2014\/03\/real-estate1-300x146.jpg 300w, https:\/\/blog.iese.edu\/africa\/files\/2014\/03\/real-estate1-624x304.jpg 624w\" sizes=\"auto, (max-width: 726px) 100vw, 726px\" \/><\/a><figcaption id=\"caption-attachment-244\" class=\"wp-caption-text\">An usual announcement in Lagos<\/figcaption><\/figure>\n<p>Yes, you got it right!: <b>&#8220;This property is NOT for sale.&#8221;<\/b> Unusual, isn&#8217;t it? Not so here, where you can see similar signs here and there. <b>Real estate is one of the sectors to watch in Nigeria:<\/b><a class=\"inline-twitter-link inline-tweet-click\" href=\"#\" onclick=\"inline_tweet_sharer_open_win('https:\\\/\\\/twitter.com\\\/intent\\\/tweet?url=https%3A%2F%2Fblog.iese.edu%2Fafrica%2Fwp-json%2Fwp%2Fv2%2Fposts%2F230%2F&text=Only+in+Lagos%2C+the+housing+deficit+is+of+about+3+M+units%2C+with+a+forecast+of+land+scarcity+in+20+years.+');\" title=\"Tweet This!\">only in Lagos, the housing deficit is of about 3 M units, with a forecast of land scarcity in 20 years. <span class=\"non-dashicons\"> <\/span><\/a>\u00a0An attractive industry, but one that requires a lot of <b>local knowledge<\/b> to succeed in it.<\/p>\n<p><a href=\"http:\/\/www.aspenactionforum.org\/users\/tundereis\" target=\"_blank\">General &#8216;Tunde Reis<\/a> \u2013 a successful entrepreneur in the industry, and founder of <a title=\"First World Communities Ltd\" href=\"http:\/\/www.firstworld-communities.com\/\" target=\"_blank\">First World Communities Ltd<\/a>\u00a0\u2013 shared with me some of those <b>ins-and-outs<\/b>:<\/p>\n<ul>\n<li><b>Some land is owned by the government<\/b>: They acquired it (i.e., expropriated it) from the so called &#8220;customary land owners.&#8221;\u00a0 The tricky issue is that many times these families still occupy it, and claim that the land is theirs. The end result is that it&#8217;s common business practice that <b>you pay twice: both to the government, and to the occupiers.<\/b><\/li>\n<li><b>Other land is in private hands (the &#8220;customary land owners&#8221;):<\/b> Serious real estate developers like <a title=\"First World Communities Ltd\" href=\"http:\/\/www.firstworld-communities.com\/\" target=\"_blank\">First World Communities Ltd<\/a> do not buy from them. Because there is no central ownership registration system, <b>you can&#8217;t be sure who the land belongs to<\/b> and different people may claim ownership.<\/li>\n<li><b>The social conception is that a house belongs to the family:<\/b> When someone buys a house, the extended family members contribute to it (this speaks to the <a href=\"https:\/\/blog.iese.edu\/africa\/2014\/02\/26\/africans-communal-mentality\/\"><b>Africans&#8217; communal mentality<\/b><\/a> I referred to in a previous post). The implication is that if you know how to manage this, you can <b>design your financing options in such a way that you can sell houses to people who would not qualify for a mortgage.<\/b><\/li>\n<\/ul>\n<p>If you combine the lack of information about property titles with the sense of &#8220;shared property&#8221; that derives from the extended family contributions to finance the acquisition of a house, the end result is the picture above. It just happens that<b> people may be selling a house or a land property they do not own;<\/b> they may either be falsifying the ownership titles, or they may just be convinced that the property is theirs. It&#8217;s not uncommon that two family members are trying to sell a house to different people without letting each other know. And the house may be shown to a potential buyer in the absence of the inhabitants. Thus, you need to make it public if <b>&#8220;this property is NOT for sale.&#8221;<\/b><\/p>\n<figure id=\"attachment_235\" aria-describedby=\"caption-attachment-235\" style=\"width: 214px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/blog.iese.edu\/africa\/files\/2014\/03\/Cooperative-Villas.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-235     \" alt=\"Cooperative Villas, one of FWC developments\" src=\"https:\/\/blog.iese.edu\/africa\/files\/2014\/03\/Cooperative-Villas.jpg\" width=\"214\" height=\"161\" srcset=\"https:\/\/blog.iese.edu\/africa\/files\/2014\/03\/Cooperative-Villas.jpg 506w, https:\/\/blog.iese.edu\/africa\/files\/2014\/03\/Cooperative-Villas-300x225.jpg 300w\" sizes=\"auto, (max-width: 214px) 100vw, 214px\" \/><\/a><figcaption id=\"caption-attachment-235\" class=\"wp-caption-text\">Cooperative Villas, one of First World Communities&#8217; developments<\/figcaption><\/figure>\n<p>To the contrary, <b>ownership of\u00a0 government land is properly registered<\/b>, including who the legal &#8220;customary land owners&#8221; are. Guaranteeing that only this land is acquired grants a company like <a title=\"First World Communities Ltd\" href=\"http:\/\/www.firstworld-communities.com\/\" target=\"_blank\"><b>First World Communities\u00a0Ltd<\/b><\/a><b> a reputation for reliability<\/b> &#8212; something particularly important in this industry, as you probably have figured out. (And by the way, <a href=\"http:\/\/www.firstworld-communities.com\/\">First World Communities\u00a0Ltd<\/a> is one of those companies that plans to become Pan-African in the medium term.)<\/p>\n<p>Have you seen a system similar to this one anywhere else?<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Look at the picture below carefully and read the sign there. You&#8217;ll see one of the ins-and-outs of real estate in Nigeria \u2013 and I suspect that similar ones may appear in the rest of Africa: Yes, you got it right!: &#8220;This property is NOT for sale.&#8221; Unusual, isn&#8217;t it? Not so here, where you [&hellip;]<\/p>\n","protected":false},"author":1654,"featured_media":245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[99106],"tags":[79903,157,1080,100509,1178,100510],"class_list":["post-230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-future-and-perspectives-for-africa","tag-communal-mentality","tag-entrepreneurship","tag-nigeria","tag-property","tag-real-estate","tag-shared-property","megacategoria-mc-africa"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.1.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"Real estate is one of the sectors to watch in Nigeria:only in Lagos, the housing deficit is of about 3 M units, with a forecast of land scarcity in 20 years. An attractive industry, but one that requires a lot of local knowledge to succeed in it.\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"\u00c1frica M. Ari\u00f1o\"\/>\n\t<link rel=\"canonical\" href=\"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 5.0.1.1\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"Africa from Africa - My Personal Perspectives on Africa\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"The ins-and-outs of real estate - Africa from Africa\" \/>\n\t\t<meta property=\"og:description\" content=\"Real estate is one of the sectors to watch in Nigeria:only in Lagos, the housing deficit is of about 3 M units, with a forecast of land scarcity in 20 years. An attractive industry, but one that requires a lot of local knowledge to succeed in it.\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2014-03-26T12:00:13+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2016-10-28T14:37:52+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"The ins-and-outs of real estate - Africa from Africa\" \/>\n\t\t<meta name=\"twitter:description\" content=\"Real estate is one of the sectors to watch in Nigeria:only in Lagos, the housing deficit is of about 3 M units, with a forecast of land scarcity in 20 years. An attractive industry, but one that requires a lot of local knowledge to succeed in it.\" \/>\n\t\t<script type=\"application\/ld+json\" class=\"aioseo-schema\">\n\t\t\t{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"BlogPosting\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/2014\\\/03\\\/26\\\/the-ins-and-outs-of-real-estate\\\/#blogposting\",\"name\":\"The ins-and-outs of real estate - Africa from Africa\",\"headline\":\"The ins-and-outs of real estate\",\"author\":{\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/author\\\/blogafrica\\\/#author\"},\"publisher\":{\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/#organization\"},\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/files\\\/2014\\\/03\\\/Real-th.jpg\",\"width\":292,\"height\":110},\"datePublished\":\"2014-03-26T13:00:13+01:00\",\"dateModified\":\"2016-10-28T15:37:52+01:00\",\"inLanguage\":\"en-US\",\"commentCount\":4,\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/2014\\\/03\\\/26\\\/the-ins-and-outs-of-real-estate\\\/#webpage\"},\"isPartOf\":{\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/2014\\\/03\\\/26\\\/the-ins-and-outs-of-real-estate\\\/#webpage\"},\"articleSection\":\"Social and Institutional Context, communal mentality, entrepreneurship, Nigeria, property, real estate, shared property, Africa Present and Future\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/2014\\\/03\\\/26\\\/the-ins-and-outs-of-real-estate\\\/#breadcrumblist\",\"itemListElement\":[{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa#listItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/blog.iese.edu\\\/africa\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/category\\\/future-and-perspectives-for-africa\\\/#listItem\",\"name\":\"Social and Institutional Context\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/category\\\/future-and-perspectives-for-africa\\\/#listItem\",\"position\":2,\"name\":\"Social and Institutional Context\",\"item\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/category\\\/future-and-perspectives-for-africa\\\/\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/2014\\\/03\\\/26\\\/the-ins-and-outs-of-real-estate\\\/#listItem\",\"name\":\"The ins-and-outs of real estate\"},\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa#listItem\",\"name\":\"Home\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/2014\\\/03\\\/26\\\/the-ins-and-outs-of-real-estate\\\/#listItem\",\"position\":3,\"name\":\"The ins-and-outs of real estate\",\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/category\\\/future-and-perspectives-for-africa\\\/#listItem\",\"name\":\"Social and Institutional Context\"}}]},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/#organization\",\"name\":\"Africa from Africa\",\"description\":\"My Personal Perspectives on Africa\",\"url\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/author\\\/blogafrica\\\/#author\",\"url\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/author\\\/blogafrica\\\/\",\"name\":\"\\u00c1frica M. Ari\\u00f1o\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/2014\\\/03\\\/26\\\/the-ins-and-outs-of-real-estate\\\/#authorImage\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/4e1b109028d1ed38f24590757b367f24fa07554eedd63c97671491890d1f9094?s=96&d=mm&r=g\",\"width\":96,\"height\":96,\"caption\":\"\\u00c1frica M. Ari\\u00f1o\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/2014\\\/03\\\/26\\\/the-ins-and-outs-of-real-estate\\\/#webpage\",\"url\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/2014\\\/03\\\/26\\\/the-ins-and-outs-of-real-estate\\\/\",\"name\":\"The ins-and-outs of real estate - Africa from Africa\",\"description\":\"Real estate is one of the sectors to watch in Nigeria:only in Lagos, the housing deficit is of about 3 M units, with a forecast of land scarcity in 20 years. An attractive industry, but one that requires a lot of local knowledge to succeed in it.\",\"inLanguage\":\"en-US\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/#website\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/2014\\\/03\\\/26\\\/the-ins-and-outs-of-real-estate\\\/#breadcrumblist\"},\"author\":{\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/author\\\/blogafrica\\\/#author\"},\"creator\":{\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/author\\\/blogafrica\\\/#author\"},\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/files\\\/2014\\\/03\\\/Real-th.jpg\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/2014\\\/03\\\/26\\\/the-ins-and-outs-of-real-estate\\\/#mainImage\",\"width\":292,\"height\":110},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/2014\\\/03\\\/26\\\/the-ins-and-outs-of-real-estate\\\/#mainImage\"},\"datePublished\":\"2014-03-26T13:00:13+01:00\",\"dateModified\":\"2016-10-28T15:37:52+01:00\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/#website\",\"url\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/\",\"name\":\"Africa from Africa\",\"description\":\"My Personal Perspectives on Africa\",\"inLanguage\":\"en-US\",\"publisher\":{\"@id\":\"https:\\\/\\\/blog.iese.edu\\\/africa\\\/#organization\"}}]}\n\t\t<\/script>\n\t\t<!-- All in One SEO -->\n\n","aioseo_head_json":{"title":"The ins-and-outs of real estate - Africa from Africa","description":"Real estate is one of the sectors to watch in Nigeria:only in Lagos, the housing deficit is of about 3 M units, with a forecast of land scarcity in 20 years. An attractive industry, but one that requires a lot of local knowledge to succeed in it.","canonical_url":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/","robots":"max-image-preview:large","keywords":"","webmasterTools":{"miscellaneous":""},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BlogPosting","@id":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/#blogposting","name":"The ins-and-outs of real estate - Africa from Africa","headline":"The ins-and-outs of real estate","author":{"@id":"https:\/\/blog.iese.edu\/africa\/author\/blogafrica\/#author"},"publisher":{"@id":"https:\/\/blog.iese.edu\/africa\/#organization"},"image":{"@type":"ImageObject","url":"https:\/\/blog.iese.edu\/africa\/files\/2014\/03\/Real-th.jpg","width":292,"height":110},"datePublished":"2014-03-26T13:00:13+01:00","dateModified":"2016-10-28T15:37:52+01:00","inLanguage":"en-US","commentCount":4,"mainEntityOfPage":{"@id":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/#webpage"},"isPartOf":{"@id":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/#webpage"},"articleSection":"Social and Institutional Context, communal mentality, entrepreneurship, Nigeria, property, real estate, shared property, Africa Present and Future"},{"@type":"BreadcrumbList","@id":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/#breadcrumblist","itemListElement":[{"@type":"ListItem","@id":"https:\/\/blog.iese.edu\/africa#listItem","position":1,"name":"Home","item":"https:\/\/blog.iese.edu\/africa","nextItem":{"@type":"ListItem","@id":"https:\/\/blog.iese.edu\/africa\/category\/future-and-perspectives-for-africa\/#listItem","name":"Social and Institutional Context"}},{"@type":"ListItem","@id":"https:\/\/blog.iese.edu\/africa\/category\/future-and-perspectives-for-africa\/#listItem","position":2,"name":"Social and Institutional Context","item":"https:\/\/blog.iese.edu\/africa\/category\/future-and-perspectives-for-africa\/","nextItem":{"@type":"ListItem","@id":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/#listItem","name":"The ins-and-outs of real estate"},"previousItem":{"@type":"ListItem","@id":"https:\/\/blog.iese.edu\/africa#listItem","name":"Home"}},{"@type":"ListItem","@id":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/#listItem","position":3,"name":"The ins-and-outs of real estate","previousItem":{"@type":"ListItem","@id":"https:\/\/blog.iese.edu\/africa\/category\/future-and-perspectives-for-africa\/#listItem","name":"Social and Institutional Context"}}]},{"@type":"Organization","@id":"https:\/\/blog.iese.edu\/africa\/#organization","name":"Africa from Africa","description":"My Personal Perspectives on Africa","url":"https:\/\/blog.iese.edu\/africa\/"},{"@type":"Person","@id":"https:\/\/blog.iese.edu\/africa\/author\/blogafrica\/#author","url":"https:\/\/blog.iese.edu\/africa\/author\/blogafrica\/","name":"\u00c1frica M. Ari\u00f1o","image":{"@type":"ImageObject","@id":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/#authorImage","url":"https:\/\/secure.gravatar.com\/avatar\/4e1b109028d1ed38f24590757b367f24fa07554eedd63c97671491890d1f9094?s=96&d=mm&r=g","width":96,"height":96,"caption":"\u00c1frica M. Ari\u00f1o"}},{"@type":"WebPage","@id":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/#webpage","url":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/","name":"The ins-and-outs of real estate - Africa from Africa","description":"Real estate is one of the sectors to watch in Nigeria:only in Lagos, the housing deficit is of about 3 M units, with a forecast of land scarcity in 20 years. An attractive industry, but one that requires a lot of local knowledge to succeed in it.","inLanguage":"en-US","isPartOf":{"@id":"https:\/\/blog.iese.edu\/africa\/#website"},"breadcrumb":{"@id":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/#breadcrumblist"},"author":{"@id":"https:\/\/blog.iese.edu\/africa\/author\/blogafrica\/#author"},"creator":{"@id":"https:\/\/blog.iese.edu\/africa\/author\/blogafrica\/#author"},"image":{"@type":"ImageObject","url":"https:\/\/blog.iese.edu\/africa\/files\/2014\/03\/Real-th.jpg","@id":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/#mainImage","width":292,"height":110},"primaryImageOfPage":{"@id":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/#mainImage"},"datePublished":"2014-03-26T13:00:13+01:00","dateModified":"2016-10-28T15:37:52+01:00"},{"@type":"WebSite","@id":"https:\/\/blog.iese.edu\/africa\/#website","url":"https:\/\/blog.iese.edu\/africa\/","name":"Africa from Africa","description":"My Personal Perspectives on Africa","inLanguage":"en-US","publisher":{"@id":"https:\/\/blog.iese.edu\/africa\/#organization"}}]},"og:locale":"en_US","og:site_name":"Africa from Africa - My Personal Perspectives on Africa","og:type":"article","og:title":"The ins-and-outs of real estate - Africa from Africa","og:description":"Real estate is one of the sectors to watch in Nigeria:only in Lagos, the housing deficit is of about 3 M units, with a forecast of land scarcity in 20 years. An attractive industry, but one that requires a lot of local knowledge to succeed in it.","og:url":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/","article:published_time":"2014-03-26T12:00:13+00:00","article:modified_time":"2016-10-28T14:37:52+00:00","twitter:card":"summary","twitter:title":"The ins-and-outs of real estate - Africa from Africa","twitter:description":"Real estate is one of the sectors to watch in Nigeria:only in Lagos, the housing deficit is of about 3 M units, with a forecast of land scarcity in 20 years. An attractive industry, but one that requires a lot of local knowledge to succeed in it."},"aioseo_meta_data":{"post_id":"230","title":"","description":"Real estate is one of the sectors to watch in Nigeria:only in Lagos, the housing deficit is of about 3 M units, with a forecast of land scarcity in 20 years.  An attractive industry, but one that requires a lot of local knowledge to succeed in it.","keywords":[{"label":"real estate","value":"real estate"},{"label":"property","value":"property"},{"label":"sale","value":"sale"}],"keyphrases":null,"primary_term":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_url":null,"og_image_width":null,"og_image_height":null,"og_image_custom_url":null,"og_image_custom_fields":null,"og_video":null,"og_custom_url":null,"og_article_section":null,"og_article_tags":null,"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_url":null,"twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema":{"blockGraphs":[],"customGraphs":[],"default":{"data":{"Article":[],"Course":[],"Dataset":[],"FAQPage":[],"Movie":[],"Person":[],"Product":[],"ProductReview":[],"Car":[],"Recipe":[],"Service":[],"SoftwareApplication":[],"WebPage":[]},"graphName":"BlogPosting","isEnabled":true},"graphs":[]},"schema_type":"default","schema_type_options":null,"pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":null,"robots_max_videopreview":null,"robots_max_imagepreview":"large","priority":null,"frequency":null,"local_seo":null,"breadcrumb_settings":null,"limit_modified_date":false,"ai":null,"created":"2022-06-14 09:04:01","updated":"2026-04-21 15:07:47","focus_keyword":null,"additional_keywords":null,"truseo_locale":null,"seo_analyzer_scan_date":null},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/blog.iese.edu\/africa\" title=\"Home\">Home<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/blog.iese.edu\/africa\/category\/future-and-perspectives-for-africa\/\" title=\"Social and Institutional Context\">Social and Institutional Context<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\tThe ins-and-outs of real estate\n\t\t<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/blog.iese.edu\/africa"},{"label":"Social and Institutional Context","link":"https:\/\/blog.iese.edu\/africa\/category\/future-and-perspectives-for-africa\/"},{"label":"The ins-and-outs of real estate","link":"https:\/\/blog.iese.edu\/africa\/2014\/03\/26\/the-ins-and-outs-of-real-estate\/"}],"_links":{"self":[{"href":"https:\/\/blog.iese.edu\/africa\/wp-json\/wp\/v2\/posts\/230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.iese.edu\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.iese.edu\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/africa\/wp-json\/wp\/v2\/users\/1654"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/africa\/wp-json\/wp\/v2\/comments?post=230"}],"version-history":[{"count":14,"href":"https:\/\/blog.iese.edu\/africa\/wp-json\/wp\/v2\/posts\/230\/revisions"}],"predecessor-version":[{"id":248,"href":"https:\/\/blog.iese.edu\/africa\/wp-json\/wp\/v2\/posts\/230\/revisions\/248"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/africa\/wp-json\/wp\/v2\/media\/245"}],"wp:attachment":[{"href":"https:\/\/blog.iese.edu\/africa\/wp-json\/wp\/v2\/media?parent=230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.iese.edu\/africa\/wp-json\/wp\/v2\/categories?post=230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.iese.edu\/africa\/wp-json\/wp\/v2\/tags?post=230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}