Top real estate professionals and policymakers gathered for the fourth annual Veritasi Realtors’ Conference, delving into the evolving landscape of property investment, technology integration, and market adaptation. With insights from industry leaders and government representatives, the event provided a comprehensive view of the future of real estate in Nigeria.

Technology and Government Reforms in Real Estate

When discussing the Lagos State government’s plans to integrate technology into real estate, Bola Raheem from the Ministry of Physical Planning & Urban Development highlighted ongoing efforts to digitize land administration and streamline processes. He noted that bureaucratic delays have long hindered industry growth, and digital solutions are being implemented to resolve these inefficiencies.

One such initiative is the Electronic Planning Permit (e-Permit) system, allowing developers to apply for building approvals online, eliminating the need for physical visits to government offices. Beyond digitization, Lagos State is reassessing zoning regulations to better align with current market demands. Existing policies, such as height restrictions, have limited developers’ ability to maximize their investments, and adjustments are being considered.

The government is also working on domesticating and enhancing the national building code to accommodate technological advancements in real estate, particularly the rise of smart buildings. As Raheem pointed out, these reforms are essential to keeping pace with innovation and ensuring the built environment evolves in line with global standards.

Real Estate as a Vehicle for Wealth Creation

Dr. Jubril Salaudeen, a business strategist at Lagos Business School, underscored the enduring value of real estate as an investment. He emphasized that real estate remains a secure and profitable asset, offering protection against inflation while ensuring long-term financial growth.

“There is no time you will invest in real estate and have a fear of losing your income or investments. The worst that will happen is the return of your investment, but more often, you gain a good return on investment while staying ahead of inflation,” he explained.

He further noted that real estate is not just a solid investment for individuals but a proven path to intergenerational wealth. Those who seek long-term financial security, he said, focus on building robust real estate portfolios that appreciate over time and serve as a hedge against economic uncertainties.

Realtors Must Evolve to Stay Competitive

As the real estate industry transforms, professionals must adapt to changing investor expectations. Tobi Yusuff, Partner at Veritasi Homes and Properties, highlighted that today’s investors seek more than just property listings—they want expert advisors who understand market trends and can guide them toward maximizing returns.

“You have to be in the know of what exactly is status quo right now. What is the economy saying? What is the mindset of the prospective buyer or investor?” he asked. “If you understand that, you can offer valuable insights rather than just presenting listings.”

Yusuff advised realtors to stay ahead by analyzing market dynamics, identifying high-yield investment opportunities, and recommending strategies such as leasing apartments instead of purchasing full houses in certain economic climates. He stressed the importance of targeting properties in commercial hubs where rental income potential is higher, helping investors maximize ROI through well-informed decisions.

Technology is Reshaping the Real Estate Landscape

The real estate sector has seen a dramatic shift with technology, granting buyers and sellers unprecedented access to data. According to Gbenga Osowe, CEO of Buyletlive, information transparency has empowered buyers, allowing them to research market trends, compare prices, and assess property values before ever contacting an agent.

“You would be surprised how many buyers research and compare dozens of properties before reaching out. By the time they contact a realtor, they already have a clear idea of what they want,” Osowe explained.

This shift means that real estate professionals must bring more to the table—offering expertise, market analysis, and strategic investment advice rather than just facilitating transactions. Realtors who fail to leverage technology and data-driven insights risk becoming obsolete in a rapidly evolving market.

A Platform for Industry Growth and Professional Development

The Veritasi Realtors’ Conference, an initiative of Veritasi Homes PLC, has grown into an essential annual gathering, fostering professional development within Nigeria’s real estate sector. Launched in 2022, the event provides industry insights, hands-on training, and valuable networking opportunities, bringing together top facilitators, including experts from Lagos Business School, Africa’s premier business institution.

By equipping real estate professionals with cutting-edge knowledge and skills, the conference plays a crucial role in shaping the industry’s future, ensuring that Nigeria’s property market remains dynamic, innovative, and investor-friendly.

Key Takeaways

✅ Lagos State is embracing digital transformation, implementing online building approvals and reviewing zoning laws to reflect market realities.
✅ Real estate remains a top wealth-building strategy, offering inflation protection and intergenerational financial security.
✅ Realtors must go beyond listings, providing in-depth market insights and advisory services to attract investors.
✅ Technology has empowered buyers, making expert guidance and data-driven decision-making more essential than ever.
✅ Industry professionals must stay informed and adaptable to remain competitive in a rapidly evolving market.

As Nigeria’s real estate landscape continues to transform, those who innovate, adapt, and leverage emerging opportunities will be best positioned for long-term success.