The dynamic landscape of Nigeria's real estate sector is undergoing a profound transformation, with technology emerging as the undisputed path forward. According to leading realtors and experts who gathered at the recent 2025 Regional Leadership Summit by the National Association of Realtors (NAR) in Lagos, embracing tech-enabled solutions is not just an option, but a necessity for the industry's sustained growth and efficiency. This shift promises to reshape how properties are bought, sold, and managed across the nation.
Industry leaders in Nigeria's real estate sector are unequivocally stating that technology is the future, essential for streamlining property transactions and unlocking liquidity. Discussions at the recent NAR Regional Leadership Summit emphasized the critical need for stakeholders to build robust digital ecosystems.
Technology as a Solution: Experts like Chude Osiegbu, CEO of Venco Nigeria, highlighted how technology is uniquely positioned to address fundamental real estate challenges in Africa. These include improving property search and acquisition processes, addressing urban infrastructure gaps, and enhancing affordability for a wider demographic.
Navigating Challenges: While the path is promising, the adoption of tech solutions faces hurdles such as connectivity issues, a lack of standardized data, and varying levels of digital literacy across African cities. Overcoming these requires concerted efforts and collaboration.
Global Collaboration & Innovation: The Lagos summit served as a crucial platform for strengthening partnerships, fostering innovation, and promoting sustainable development goals in real estate. It brought together global partners, affiliates, and key stakeholders, underscoring the growing importance of Africa's rapidly evolving real estate markets on the international stage. Kevin Brown, NAR's 2025 President-elect, shared insights on expanding housing supply globally, stressing that innovation and capital are indispensable for closing the housing gap.
Path Forward: Participants strongly advocated for increased infrastructure financing, the establishment of standardized land data systems, and the creation of collaborative platforms to connect African developers with international capital pools. The discussions also explored the intersection of housing, technology, and policy, particularly in the context of urban resilience and the smart city movement gaining traction in cities like Lagos. This blend of intercontinental investment and local innovation is seen as a powerful catalyst for real estate transformation across Africa.
Conclusion:
The consensus from the recent summit is clear: tech-enabled real estate represents the viable and exciting future for Nigeria's property sector. By leveraging digital innovation, fostering strategic partnerships, and addressing infrastructural and data challenges, Nigeria is set to redefine its real estate landscape, offering enhanced efficiency, transparency, and liquidity for all stakeholders. This is an opportune time for investors and industry players to engage with the digital transformation unfolding in one of Africa's largest economies.
Source: BusinessDay.ng - "Realtors see tech-enabled real estate as the sector's future viable path"