The Chairman, Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos branch, Mr Tosin Kadiri, has said the infusion of technology into real estate is revolutionising the industry and transforming Nigeria’s property market.
Kadiri, who spoke at the 2025 City People Real Estate Awards organised by City People Media Group in Lagos, noted that the transformation is being driven by rapid urbanisation, rising security concerns and the growing demand for efficient living solutions.
Delivering a lecture on the theme “The Future of Real Estate in Nigeria: Trends Shaping the Industry,” he described the sector as dynamic, ever-evolving and currently on the cusp of transformative change.
According to him, digital platforms for property listings, virtual tours, and blockchain technology for secure transactions are now becoming commonplace.
He identified Virtual Reality (VR) and Augmented Reality (AR) property tours as major innovations, allowing prospective buyers to visualise interiors remotely and make informed decisions without physical visits. “This enhances convenience and expands market reach,” he said.
On blockchain technology, Kadiri explained that it is now being applied to secure land records and simplify title verification processes. “This enhances transparency, reduces fraud risks and minimises disputes in property transactions,” he added. Kadiri also highlighted the role of Artificial Intelligence (AI) in analysing market trends and demand patterns, empowering developers to make data-driven decisions.
He observed that demand for smart homes is rising, with features such as automated lighting, security systems, smart locks, motion detectors, CCTV cameras with remote access, and energy management technologies becoming attractive to buyers and investors.
“Smart thermostats, motion-activated lights and automated appliances help reduce energy consumption and costs, which is crucial given Nigeria’s high utility bills. These systems not only streamline operations but also build investor confidence.
Smart homes command higher prices, reduce utility bills, and offer remote management, a key advantage for frequent travellers and multiple-property owners,” he explained.
Kadiri further stressed the growing importance of sustainability in Nigeria’s real estate market, citing the adoption of green buildings designed to minimise energy consumption, incorporate rainwater harvesting, low-flow fixtures, vegetated roofs, and the use of locally sourced, recycled materials such as bamboo, compressed earth blocks, and recycled plastic bricks.
“These initiatives reduce carbon emissions, conserve natural resources, promote healthier living, and ultimately enhance property value while offering long-term cost savings for homeowners,” he said.
On housing trends, Kadiri noted that Nigerians are increasingly opting for suburban communities that combine affordability with modern amenities, while mixed-use developments, blending residential, commercial, and recreational spaces, are gaining traction. Government investments in infrastructure, he said, are also making suburban areas more attractive to developers and investors.
He emphasised that collaborations between government and private developers are leading to the construction of affordable housing units, crucial in addressing Nigeria’s housing deficit and promoting inclusive growth.
Kadiri added that fiscal reforms and recent economic policies, such as interest rate adjustments and currency stabilisation, are reshaping Nigeria’s property market by creating a more stable environment for investment.
“The future of real estate in Nigeria is promising. Professionals must stay informed, innovative, and adaptable to harness these opportunities and shape the industry’s growth,” he said.
Earlier, the publisher of City People, Mr. Seye Kehinde, described real estate as a sector held in high esteem due to its significant contribution to Nigeria’s economy. He noted that growth trends in the industry are closely monitored to measure how the market has evolved over the years.
