Poor Documentation, Price Inflation Undermine Nigeria’s Housing Market — Expert

The Founder and Chief Executive Officer of Property Xtra Integrated Services, Kabir Bello, has raised concerns over persistent challenges in Nigeria’s real estate sector.

He declared that unclear documentation processes, inflated property prices, and poor communication from agents continue to frustrate prospective homeowners and investors despite the industry’s rapid growth.

Bello, who spoke at a media parley in Abuja, argued that despite the sector’s rapid growth, prospective property owners and investors continue to grapple with unclear documentation processes, inflated pricing, and poor communication from agents.

The CEO said it is against this backdrop that his firm is positioning itself around transparency and advisory-driven services, reflecting a broader attempt within the industry to rebuild credibility.

He revealed that his organisation is putting up strong measures that seek to address systemic gaps by emphasising clearer transaction processes and sustained client engagement rather than one-off deals.

Bello noted that the traditional real estate model in Nigeria has often been dominated by informal practices, leaving many buyers vulnerable to misinformation and, in some cases, fraud.

He said that private and public industry players should create standardised procedures that can help in enhancing property acquisition, particularly for first-time buyers and diaspora investors.

The real estate administrator argued that improving transparency is not just a competitive advantage but a necessity for unlocking the sector’s full economic potential.

He explained that with Nigeria facing a significant housing deficit, restoring investor confidence should be seen as critical to attracting both local and foreign capital.

“Operators adopting client-centric models say they are responding to this need by prioritising informed decision-making, clearer communication, and post-transaction support—areas long identified as weak points in the market.

“While companies like Property Xtra are still a small part of the broader ecosystem, their approach signals a gradual shift toward professionalism in an industry often criticised for its lack of structure”, he said.

The expert, in the company of other notable real estate personalities, further called on stakeholders to sustain reform backed by stronger regulation and enforcement to consolidate gains and ensure that transparency becomes the norm rather than the exception in Nigeria’s real estate landscape.