My question is, why do you all Nigerian developers avoid greenery in your environment. You build so much houses with no room for shrubs and trees. No oxygen circulation at all. You all are doing good except for greenery. It’s very important for a healthy ecosystem

@DURUBOND

7 ай бұрын

I will create a video for this

@tobioguntunde8614

7 ай бұрын

Everything falls back on the government for lacking enforcement in the ecosystem.

@PN-TV

7 ай бұрын

@@DURUBOND that will be great, it’s one thing that I see that is so much lacking for all this beautiful houses. And it affects the environment a whole lot.

@littleshopworld4894

7 ай бұрын

That's very that's very easy because people can't live on top of a shrub Nigeria is half the size of Alaska and has 220 million people every inch of space is needed for overpopulation

@ucheo9144

7 ай бұрын

my dear...sigh

Well articulated and intelligent delivery of information. You’re well informed and I love the way you educate your viewers. You’re extremely rational and no sentiment. You just say it as it is. I love your content man. As a young real estate developer i learn a lot from your content and I can confirm you’re 100% right. I wish people would watch this with open mind instead of being unnecessarily sentimental. Lastly you’re a prudent person. Thumbs up man 👍

@DURUBOND

7 ай бұрын

I really appreciate this. Thank you 🙏🏾

@uplayitIlisten

7 ай бұрын

none of this makes sense why buying a house is this insane & different then buying a home in usa 🫥

Nobody talks about the money laundery aspect of real estate in Nigeria..specifically in Lagos abd Abuja.

Marvelous and insightful content. I quite admire the politeness and respect shown to those referred in the video. Also, backing claims with facts is a display of professionalism. Thanks for the enlightenment. 👍🏽👋🏽

@DURUBOND

7 ай бұрын

Thank you

Developers in Canada go through similar problems...high construction costs, interest on their loans, development fees, park, school levies imposed by the government etc. One of the main reasons housing is overpriced in Toronto. 25% of the purchase price for consumer goes to government in fees for new build condos.

@DURUBOND

7 ай бұрын

I guess that's why Canadian real estate is also a mess.

@elnukthebaker

7 ай бұрын

don't forget foreign investors.. lots of foreign money is sustaining the market. supply and demand is also a problem. over a million people came into Canada in 2023 and majority of them stay in Toronto. Govt fail to release permits easily. Lastly the internal money that is sustaining GTA property is mostly from people using a line of credit from equity built into their existing home.

What I like about your channel is that you’re truthful…

Your take on the real estate business in Nigeria is on point 👍. Thank you !!!.

@DURUBOND

7 ай бұрын

I'm glad you like it. More to come 🙏🏾

Thank you for another wonderful, educative and insightful content as usual. I love your passion to share your knowledge and skills particularly in your area of specialty. Everything you said is 100% correct and I’d like to add that one way government could lift its people out of poverty is making land documents easier enabling people to sell their land easily or use title documents to obtain loans for remodeling, building or taking out equity loans on existing property. Continue the good work for us biko we are learning.

Please continue with your channel, very needed channel especially in this hectic Nigerian property market scene

@DURUBOND

7 ай бұрын

More to come. 🙏🏾

Very educational keep it up man !

Thank you for this. Its really clear now

Nice video bro. I’m following you already. With love from US

Thanks Bond excellent information

I love this guy's analysis...Sharp man..kudos

Nahh… this is super insightful. I have never seen the factors behind prices of a property from this angle before. Thank you for sharing! Looking forward to more videos too! 🙏🏽

I got a lot of value from this video, SUBSCRIBED!!! Keep up the good work boss👍

Good thanks for the information

This Duru guy is very good at what he does. Very, very informative video ❤

Great explanation. Thank you

Duro,you are the best. I Love your analysis on real estate investing!!

I keep telling people. Different countries have different factors influencing real estate prices. People seem to think a house is the same even if it’s on the moon 🙂

Very insightful, gained a lot from this as regards Lagos real estate.

Odogwu, thank you very much for the information. I am learning a lot from you. Blessings

Very insightful

You're a top notch real estate influencer. You've really taught the us and dispelled our doubts

Bro thanks really well articulated I was one of the people ranting about high housing prices. My knowledge has just been elevated to another level.

Weldone brother, you answered so many questions that I have been struggling to find out the answers. Well illustrated and God bless. 🙏👍😘

You did well on your explanations and detailed analysis of the real estate market in the Country.lt seems there is no end in sight to the overpricing.

Very informative

Thank you for your education

Thanks for this explanation

Can’t thank you enough for your videos 🙏🏾

@DURUBOND

7 ай бұрын

Glad you like them!

Well delivered 👏🏽

First, thank you for your videos and it's great to see developer's perspective. On a light note, I think you didn't mention the 50% that goes into developers' pockets as stupendous profits. Seriously now, I have no issues with whatever amount developers are selling their properties. I am sure it's because they know there is a willing buyer at that price. However, we are beginning to hear on social media about how developers are asking off plan buyers to start paying variation prices i.e. changing the cost price after the fact citing economic concerns. The seems like a rip off to buyers who are also in the same economy just because some developers want to greedily hold on to budgeted profit margins. How would you address this on both sides? Thanks

@lka6448

7 ай бұрын

I think you and I should be worried about how much profits developers charge. Pls let's stop having this "I don't care attitude" to life as long as I can afford things, or my family is OK. Not caring could and is resulting in a society where only shady rich business people can afford housing and other resources, whilst the hard working middle to working class starts becoming the poor, and the poor turns around to harm, kill or literally eat the rich for survival.

@lka6448

7 ай бұрын

Just joking about "eat" the rich, but you get my point 😅!?

@MrBamshy

7 ай бұрын

@@lka6448 You are right but capitalism allows for it. Not sure we want socialism either. You know how many times I hit my head against the wall when I hear developers use the phrase "helping to bridge housing deficit" while they buy themselves g-wagons and even some who struggle to buy these houses with 30yrs of savings get swindled or taken advantage of because buying a land yourself is not straightforward. Having said that, I also will not blame someone who sees a market where he can make ridiculous profits and takes advantage of it. The day the people buying now have had enough, the developer will look elsewhere or change strategy, until then, I think it's just normal they take advantage of the times. To address your main concern, it's more of people we vote into power, their governance style and policies that allows ordinary members of the society access to housing at fair and reasonable cost than asking business people to do us that favor I think. And as for "eating" the rich, they know how to control us as long as they don't sleep off. The tools are there - police, gangs, religion, tribalism, bribery, politics, you name it

Watching this video with admiration. You broke it down.

Great video. Would love to see more of this

@DURUBOND

6 ай бұрын

More to come! Thank you

Always with fact & analysis

Thank you for the information and insight on this matter. I have always thought that the developer are greedy and they are overcharging the customers.

You are detailed and very knowledgeable about your subject. I have been enlightened and educated. Well done!

@DURUBOND

7 ай бұрын

I appreciate this. Thank you 🙏🏾

Thank you sir

Well said sir.

I love your analysis

Brilliant analysis 🫡

@DURUBOND

7 ай бұрын

Thank you 🙏🏾

Boy I like your content very informative and detailed videos. Valuable information

@DURUBOND

7 ай бұрын

Thank you

Very insightful! High construction cost is really affecting the prices of real estate properties in Nigeria and I don't see any sign of things getting better soon.

You sabi this thing, kudos.

Very good Analysis. However, if there's drop in the interest rate it will affect the economy from a different dimension. More productive economy is the best solution. Good job!

Well Analyzed

You're 100% Correct.

If you see person wey sabi, you go know! Very informative, and remarkable delivery. Sub’d!

@DURUBOND

21 күн бұрын

Thank you!

I must say, your contents are really rich and valuable. Keep up the good work bro.

@DURUBOND

7 ай бұрын

Thank you 🙏🏾

Subscribed for telling the truth.

With the glasses and Topic i almost scrolled pass. But glad i listened abit more. How you speak i think you will make it big in the industry.

@DURUBOND

7 ай бұрын

Thank you 🙏🏾

Well said

WELL ELABORATED AND EXTREMELY EDUCATIVE!👍

@DURUBOND

6 ай бұрын

🙏🏾🙏🏾

Well said brother.....as it stands now, na to build my house by myself

@DURUBOND

7 ай бұрын

Lol. You will still encounter the same challenges PLUS the stress of dealing with artisans.

This is very enlightening. Shame we can't get housing right in the country. The work is too much for the likes of Duru and other small developers.

Bond, You too much! Your provided good information and communicated in a framework that is easy to understand. Carry Go!!!!!

@DURUBOND

7 ай бұрын

Thanks chief 🙏🏾

Very interesting. Hope there’s more bettter solutions even for buyer to access mortgage banks with good interest rates

@DURUBOND

7 ай бұрын

I will create a video on this.

No extra story, you just say it as it’s in the simplest form. I watched your video on ikota demolition, my respect on your perspective is 10/10. Your videos are strictly for people who want to get knowledge. Thank you sir.

Charge a previous buyer 550k for a 50k home, use the 500k to build a new home and sell to the new buyer at the same 500k (plus your profit margin on top). Double charging of 500k from TWO customers!? Im surprised nobody caught on to the fact that this guy just indirectly said developers double charge on one house -by charging both an old customer and a new one for the new customer's house. That is stealing from the old custoner!

For a very long time, I've always said to myself that houses in Lagos are highly overpriced. Let's be careful so we don't crash this sector. I love Osapa London because I believe it's not overpriced like others.

Yes oooo, walls have ears..lol Thanks for the info

I have really loved your explanation Am a young enthusiast in real estate development Am currently in University and rhis year i started buying land Can you please make a video on how to choose land for real estate investment and how to decide on what to envision in developing in that land

Good video, was looking forward to your explanation on the "documentation" , the costs, challenges etc, perhaps you can do justice to that in a subsequent video. Well done!

@DURUBOND

7 ай бұрын

I will make a separate video on that. We are currently in the process of one. I MIGHT document it so people experience it rather than just me talking.

@obieWanmotivation

7 ай бұрын

Agreed presuming documentation encompasses land titling, building permits, and environmental concerns, etc. The video is much needed partly in consideration of ongoing drainage induced demolitions.

Sujimoto Penthouse is listed for $14 Million Dollars. It shooked my mind what that money will get me in Dubai or New York

@jimmyaki849

7 ай бұрын

I doubt if his target audience are Nigerians who live and work in Nigeria. Maybe politicians

@umehchima6225

7 ай бұрын

You mean $1.4million

@samlawaniunscripted

7 ай бұрын

@@umehchima6225 LOL. i know what I said. $14 Million Dollars (fourteen)

@adewalesanusi6919

6 ай бұрын

@@jimmyaki849you guys should stop or this stupid talk of target market. If you have $14m will you buy house in Lagos? When you can get a better deal in London, Dubai or Switzerland. “The target market” doesn’t even buy, they build their own houses

@victoradedamola4797

23 күн бұрын

@@samlawaniunscripted $14 million USD in a slum called Lagos. 🤣That money will fetch you a palace in Europe or UAE.

It now a Happening in benin as well. Especially student area like ekpoma. To rent one room flat here is about a million plus

Boy , you are straight like a pin as we say in Uk. You cannot be faulted. Completely agree with your analysis

@DURUBOND

7 ай бұрын

Thanks chief. More to come 🙏🏾

Mr Bond.. you definitely know what you're talking about..i have a lot of questions for you, the most pressing one is.. Can a foreigner purchase any of your properties?

@DURUBOND

7 ай бұрын

Definitely. Info@homlantic.com

Please do a video on the new Lagos-Calabar express way. Thanks.

@DURUBOND

3 ай бұрын

I've done that already. Check my channel

Can you do a video on why property demolition is common in Lagos and Nigeria?

@DURUBOND

7 ай бұрын

Already done this. Check the channel.

Its based supply and demand... Lagos is one of the most populous cities in the world. It is also one of the strongest growth markets on earth! People can make BIG MONEY in Nigeria today and they are willing to pay what it takes to get a comfortable place to live there.

GREED ……simple and short. You could invest a fraction of that cost in real estate in many places in africa and get much more returns than in nigeria. Also the terrible state of the economy and unstable forex makes it a very unwise decision, talkless of the lack of the rule of law , where the govt can wake up one day and demolish or take over your property with little or no compensation. Let’s say you bought a house 5 yrs ago for usd 500k (about n200million) when the exchange rate was n360 to $1. Today the house the house is worth n350million but the exchange rate is now about n1000 to usd1, meaning in effect the house is now worth less than usd400k if you were to recoup your usd by selling it.

@aa-cw8ky

7 ай бұрын

If you build illegally, your house will be demolished

Real estate in Nigeria is over price ever since......

❤❤❤

Thanks Bond for this great video, just wondering if Federal Mortgage Bank is of any help to developers?

@DURUBOND

7 ай бұрын

It is not.

I have been saying this about Kenya too...How do you evaluate something is before buying it is beyond me

Nigeria is not sa Naija❤ has its good advantage too

Probably also consider the impact of the marketing models where you have commission for upline, downline, third generation downline etc. As a real estate leads generation company, we work with several developers and realtors, and believe this model needs some tweaking.

@DURUBOND

7 ай бұрын

I will like to hear more. Info@homlantic

Bond, do you have houses in the East, precisely in Owerri for sale? Those of us overseas are no longer confident that our houses in Lagos are safe. The demolition of houses in Lagos has shocked us all.

@DURUBOND

7 ай бұрын

We are currently looking towards that. Recently we've seen a spike in demand for Imo, Enugu and Abuja especially.

@emekamarcel

7 ай бұрын

@@DURUBOND Please, when you’re ready, make a video about it. I’m interested!

@chincherri

7 ай бұрын

​@emekamarcel the moral of the story is don't build on unverified land and always survey ur land and get ur permits...there has been several demolitions in onitsha also over these same illegality issues..ppl need to learn to do the right thing..if not as a city or state grows there's more likeliness for ppl to start encroaching master plan and it will end demolition once a government wants to revert to city plan...lagos has been existing since 18th century and lot of ppl have encroached their master plan..so u can't really blame them

@dennisnlemadim4676

7 ай бұрын

That thought line of building in Owerri to avoid the issues of house demolition due to bad site location or a political driven agenda is fully agreed with and has my support. For your information the video presenter should have links within his property developer network. Stephen Ndukwe does video like Duru Bond, you can DM both of them for assistance.

@chincherri

7 ай бұрын

@dennisnlemadim4676 imo state government has marked some structures for demolition as we speak ...ensure u ppl do findings pls

The only difference really is the way the cost of things fluctuate in the Nigerian market. Everything else you mention every other market deals with. If price fluctuations is the only thing then developers should already have a system of hedging that. Interest rates might be higher in Nigeria to finance but they’re also higher in bond rates in Nigeria compared to any of these other countries. If the argument is that real estate is a finance business first then why are we separating all these things like they don’t all work together.

From your explanation, it's not overpriced. Overprice means profiteering, which is not the case here.

I would want to believe that one year tenor for funding from the capital market is a rarity, no? Sounds scary.

Yes, ridiculously overpriced. Now, demolitions will deter and scare people from investments

@okunrinjutobiloba6082

7 ай бұрын

Are you sure you finished watching the video ? He said a whole lot of things and you only picked the overpriced part and ignore the reason behind it. Take your time to learn please.

@mountainroguestrange2868

7 ай бұрын

This your reply is off-point! Because prices are high means that illegality should be allowed??? Don't bring your victim mentality to this very informative video. Those illegal buildings will come down and heaven will not fall!!!

Your argument avoids the demand side. As difficult as the bottlenecks to investing in real estate are you are still investing in real estate. This suggests that there is a surging demand for real estate. It would be interesting to know what the drivers of demand are in a country with overwhelming levels of unemployment, high interest rates, double digit inflation rate, extreme political corruption and a swelling underground economy (if you know what I mean!). If these bottlenecks you articulated so eloquently are eased economic theory suggests you will basically expand supply and reduce the price slightly (not by the amount of cost savings from real estate financing reforms). So contrary to your submission I think the overpriced real estate in Lagos is driven mostly by the demand for housing. I hope you have insurance in the event of a bursting of the real estate bubble because as it happened towards the end of the GEJ regime it may likely happen again.

U think Lagos is overpriced until u check ABJ.. Lagos has beautiful houses

@DURUBOND

7 ай бұрын

Yh. Abj is crazy

I disagree I have seen some home in lagos that are cheap. Some of the home that are going high compared them to Fl and La those homes are cheap. in Nigeira

That's the dumbest question I get from customers "Did you not buy at the old price?" That question pisses me off because its common sense are we not going to buy again ?

At the end of the day, blame it on the government for not being able to handle inflation.

Go to South Africa now

You go explain explain tire no Evidence. I rather acquires House 🏠 properties in Abroad with higher Inflated prices based on Citizenship by investment. Citizenship by investment is more prestigious and can give you more powerful returns than in that so called Lekki.

@DURUBOND

7 ай бұрын

Lol. All roads lead to Rome.

@jamesbenjamin7973

7 ай бұрын

Same Lekki had lands selling for below 30k naira in early 2000s, try getting land in Lekki now..

Lagos with poor public amenities. Jeez!

All I heard is we have fancy reasons even a biblical scripture lets add a special icing on the cake & say property is a financial business before it becomes a housing business 🙄 Look the AA diaspora must return ..2nd Exodus; with these rates how??? Now i see why usa charges crazy home tax🙄

great video as usual

@DURUBOND

7 ай бұрын

Glad you enjoyed it

Raising funds with your network. What then is the best ROI to give them. Or how best can you structure their returns

@DURUBOND

7 ай бұрын

It depends on a lot of factors. Risk for one.

Federal Bank for building alreasy exists.

@DURUBOND

7 ай бұрын

In Nigeria?

I hear you but what about the illegal money that are buying real estate. A Yahoo boy would easily unscrutinized a real estate price to hide his money that would now be the same price of the stolen money. In other words, money laundering contributes to the crazy hike of Nigerian real estate.

@DURUBOND

7 ай бұрын

False.

@pandassassinoverlord9252

7 ай бұрын

@@DURUBOND How false? Prove it to me that all those homeowners in Lekki or Banana island are legit business owners or those corrupt politicians in Nigeria do not have money stolen from us laundered into those islands? Prove me wrong. I’m ready to let the world knows that illegal money drives up the price of our real estate and not those factors in the video.

@RodioXYZ.

7 ай бұрын

😂😂 What an unintelligent comment!

Those buildings don't worth the price. I really don't know why they are doing this. It is so annoying.

Do developers discuss these problems with the state government? Or no hope for people doing business in Nigeria.

@DURUBOND

7 ай бұрын

Hopefully things will get better.

What is tayo and Steven doing on the thumbnail? 😢