The COVID-19 pandemic has had a massive impact on financial markets and the economy worldwide. Many investors, property owners, potential home buyers and landlords are therefore asking themselves if the corona crisis is also affecting the real estate market? Are property prices rising or falling due to the coronavirus? The strong demand for residential space in recent years is due to population growth and the continuing influx into metropolitan regions and medium-sized cities. This has led to a significant increase in the prices of properties for sale and rent. New construction activities were also unable to meet the high demand. The demand for residential space will not decrease even in the face of the corona crisis – because people will always be in need to have a roof over their heads.
The reason why the coronavirus crisis does not seem to have had much impact on property prices at the moment is relatively simple: real estate does not lose its attractiveness for investors in these times. A home can still be considered a stable investment in times of crises.
In Lagos, Nigeria where the majority of people call the hub of real estate has witnessed a lot of activities during the Covid-19 lockdown. Many real estate players have gone online to reach their potential customers, as many couldn’t go out to read from vendors, while the hard copy of newspapers couldn’t circulate because of lockdown. But despite all these limitations and crisis that came with Covid-19, many of these property players still record-high sales, high patronage. Below is the list of a few real estate players who did well in the last 2 months of Covid-19 lockdown.
DR BAMIDELE ONALAJA
He is the MD/CEO, RevolutionProperty Development Company. He floated the company 6 years ago but has done well within a short period. Despite the crisis that comes with Covid-19, he was able to deploy a means to reach customers. He is always active on social media, most especially on celebrity handles where he gives out various palliative materials to people and also uses the medium to advertise his brand and products. A few days back, he spoke to City People TV on Instagram live where he disclosed the profit and gains he has made as a company in this lockdown. He was surprised as well because this is the moment where people grumble even to feed themselves. He was surprised as he keeps getting calls especially from people in the diaspora who come in contact with his products online. The company has donated over 100 million naira as Covid-19 palliative.
OLAWALE AYILARA
Olawale Ayilara is the CEO, LandWey Investment Limited. He is one of the richest and youngest real estate players in the country today. He is always online too, either on his page or invited to speak on someone’s social media page. He is also the choice of many potential subscribers who desire good homes in this pandemic.
AARE ADETOLA KINGEMMANUEL
Aare Adetola is the GMD, Adron Homes & Properties, one of the most talked about real estate companies in the country. Currently, his Ileya promo is trending where a lot of gifts would be given to their subscribers as they buy their Ileya promo. Adron Homes has made huge sales especially since the outbreak of the Coronavirus. The company has also donated more than 100 million naira to government as palliative.
FUNKE KEHINDE
She is fondly called MFK (Madam Funke Kehinde). She is one of the most popular female realtors in Lagos. She’s well known among the big guns of the industry. She is the MD, Brilliant Concepts, a company she founded a few years back to solve the housing challenges in Lagos, especially those who want one. She markets most of her products online, using Instagram to reach her potential customers in and outside Nigeria. She has also sold millions of landed properties in the last few months.
KALU CHUDI
He is a co-founder, MiddleChase Properties. He is one of the most active real estate personalities in the last few months of Covid-19 outbreak in Nigeria. He is always active on social media, giving the needed advice and guideline about real estate. He is always inviting his colleagues In the sector to his page where real estate topic would be discussed. He too has sold a lot of properties as people all over seek his knowledge about where and how to invest.
HAKEEM OGUNNIRAN
He is the founder and CEO, Eximia Realty, a company he founded immediately he left UPDC a few years back. He is one of the big players in the real estate players who have seen it all. In the last few weeks, he’s become a regular face who features in many online seminars and he’s always an authority when the issue of real estate arises. He is always a reference point for other property players.
MRS ICHECHI & KENNEDY OKONKWO
Talk of couples who understand themselves, Mrs Ichechi and her husband, Kennedy Okonkwo of Victoria Crest homes. Victoria Crest is a subsidiary of Nedcomoaks properties. It’s an estate where celebs are buying properties in Lekki, Lagos. This is an estate where Mercy Eke now lives. And since the beginning of the pandemic, this couple has been very active on their Instagram platform, dishing out various real estate products and subscribers are buying from them.
DR FRED ODION
Dr Fred Odion is the MD of PWAN Haven Homes, one of the affiliates companies of PWAN Homes. He is one of the most active MDs among the affiliate companies of PWAN. He is always live on Facebook and Instagram. He engages his followers every minute to ensure he gives them the best product and advice about properties.
SADE GBADAMOSI
She is a co-founder, Amen Estate located on Eleko road, Ibeju-Lekki, Lagos. She is also in charge of finance, while her husband Mr Babatunde Gbadamosi is the developer of the estate. Currently, the second phase is selling and it’s almost fully subscribed for, despite the Covid-19 crisis.
-ISAAC ABIMBADE
