Real Estate News Update – May 2025
Ibadan (Oyo State):
Residential development is gaining momentum in key parts of Ibadan, including Moniya and the
city’s educational axis. Authorities have indicated a rise in demand for sustainable housing and
affordable rental units due to increasing urban migration. Strategic partnerships with the
government are also being encouraged to support this growth.
Ogun State:
The state is advancing its urban housing plans with the second phase of a major residential
project near the new international airport in Iperu-Remo. The government is also cautioning land
allottees in the Ibara Regeneration Scheme against unauthorized resale of plots, to maintain the
integrity of the new city layout. Additionally, formal documentation for several estates has been
finalized to boost investor confidence.
Lagos State:
The state government has increased its housing and infrastructure budget by over 80%,
signaling a strong focus on tackling housing deficits. Short-let apartment rates have seen over
200% price hikes in the past year, driven by inflation and rising construction costs. Efforts are
also underway to curb real estate fraud, with over N500 million recovered from fraudulent deals.
Meanwhile, some waterfront communities remain neglected, raising concerns about inclusive
urban development. Large-scale infrastructure projects like a new coastal highway and bridge
are underway to enhance connectivity.
