Why are Lagos Properties so High?!

Join us in this conversation on this episode of Bricks and Banter with Prince Ediri Otomewo, CEO of Propati Radar.

Have you ever wondered why houses in Lagos are priced so high as compared to other locations in the country? I guess that makes two of us.

On this episode of the Bricks and Banter podcast, we sit down with one of the topmost developers in the Lagos Luxury real estate scene. As the CEO of Propati Radar, Prince Ediri Otomewo is popularly known as the Oracle of Lagos for his ability to accurately predict real estate market trends. 

Starting from his academic background and early career, Prince Ediri shares his story on getting successful in the real estate industry, and his journey so far. Now to the valid question, what makes Lagos properties so expensive? 

Prince Ediri shares 3 simple responses; Cost of land, Cost of construction, and Cost of capital. Furthermore, he goes on to discuss reasons for more concentration of new properties in certain areas of Lagos as compared to other areas. Speaking on the profit-motivated model of the real estate business, he cites government support as the major factor that can drive the creation of more affordable houses.

There is so much more to hear from him. Check out the full video: LET’S TALK LAGOS PROPERTY PRICES!!



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