Friday, November 22, 2019 / 03:00PM
/ Northcourt Real Estate / Header Image Credit: Northcourt Real Estate
Northcourt Real Estate, the award-winning real estate brokerage, management, advisory and valuation firm is scheduled to host the first Lagos Property Auction of international scale on the 29th November, 2019 at Four Points by Sheraton Hotel Oniru, Lagos by 6pm.
The auction is the first of its kind and is being organised to bring together keen property sellers and buyers in an environment of trust. It aims to revisit, and possibly reset accepted property prices. Properties up for auction have gone through rigorous checks by a team of lawyers. Pictures on display are the most recent and accurate depictions of the property's true state.
CEO of Northcourt Real Estate, Tayo Odunsi discussed the need for price corrections in Nigeria's real estate market - amidst the recovering economy. He noted that an auction allows the market to set the price to each auctioned property.
Northcourt COO/Director, Advisory - Ayo Ibaru further explained that leading property market indicators - vacancy rates, development pipelines and real estate stock have not changed over the last 18 months. This could reflect a period of stagnation or slow recovery. There is need for external stimulation to the market and this is what the Lagos Property Auction aims to do.
The event is free to attend to the general public, especially those looking to buy or invest in the auctioned properties. Developers or property owners who would like to list their properties in the auction can do so by sending an email to firstname.lastname@example.org. Due diligence will be done on all listed properties to give buyers comfort as well as. Detailed investment profile will be made available to show the returns and other important information investors may require.
The Lagos property market remains the most vibrant in West Africa and one of the top investment destinations in Africa as such this auction is yet another laudable indicator of the rising maturity, transparency and activity-levels of the market.
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