Real estate professionals urge policymakers and stakeholders to re-strategize in order to maximize opportunities in Nigerian cities amidst the crumbling old order of practice.
They spoke at the 5.0 summit, tagged: “Charting new frontiers in real estate practice: A recipe for sustainable growth in the new dispensation”, an event organised by the Nigerian Institution of Estate Surveyors and Valuers , Lagos branch to mark its week.
Amayaebvo, who is also the chairman, NIESV council said: “Those who would thrive in our world where change is the most constant thing must be ready not just to adapt to changes, but also to adjust swiftly and appropriately. That is how to remain relevant, productive and impactful in a changing environment. We must consciously and continuously scale up the practice of the profession to meet the demands of a rapidly changing world.
In a keynote address entitled: ‘Real estate market dynamics and projections today and the future’, a partner at Ubosi, Eleh & co., Mr. Chudi Ubosi, explained that with high rate of urbanization put at about 5.5 per cent in certain zones particularly, the Southwest and others, there are opportunities for professionals through provision of housing.
He said: “The future will bring increased, intense competition as firms fight each other or non-professionals for business. Currently we do everything – sales, letting, valuation and have become Jack-of-all-trades. In the real estate market of the future specialisation will be important. As the future approaches we will need to specialise in terms of location, service letting, and sale valuations. We must grow knowledge-show knowledge, be a reference point, show expertise and grow competence.
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