PROPERTY TRANSACTION GUIDE

NIESV to educate investors on real estate market
By AKINPELU DADA

Punch, 30th January, 2012

The Nigerian Institution of Estate Surveyors and Valuers’ Learning Centre is set to educate the citizens on the essence of the real estate industry and how the dynamics in the economy will affect their investments this year.

The decision of the centre to embark on such a programme is borne out of its observation of imperfections in the nation’s property market and the need to educate investors and practitioners on the way it operates.

In fulfilment of its mandate, the centre will host a-two day workshop on Tuesday (tomorrow) and Wednesday in Lagos to properly educate citizens who are engaged in any form of real estate activities.

The Chairman, Workshop Planning Committee, NIESV Learning Centre, Mr. Samuel Ukpong, said the heterogeneous and imperfect nature of the Nigerian property market and the need to give insight on how it would operate this year in view of the nation’s peculiar circumstances necessitated the workshop.

He said there was a need for investors and practitioners to know how their investment would fare in the year; the new opportunities that were open to them given the prevailing situations; and insights required for making fortunes in 2012.

Ukpong added that the workshop would provide opportunity for practitioners to keep abreast with new legislations and regulations that would affect the market in the year; especially the new compulsory building insurance policy and how the insurable risk would be assessed.

He explained that topics to be treated included various aspects of real estate investment, access to estate finance, understanding of the property development environment, market database, valuation of property investment and cash flow, among others.

"These and many more questions shall be answered by worthy, trusted and tested experts in the industry. Our profession is interested in and poised to change our society, environment and the nation positively by contributing to the re-engineering process," Ukpong said.