THE NEED FOR PROPERTY TECHNOLOGY IN NIGERIA

ESV Nwabuisi David Chimbili MNIVS, ISMN, RSV

Nigeria’s housing and property sector stands at a crucial turning point. With millions of citizens in need of affordable homes, slow land registration systems, and widespread documentation fraud, the country’s real-estate industry faces serious challenges that threaten transparency, investment, and efficiency. Amid these realities, Property Technology (PropTech) — the use of digital tools in property and housing management — is emerging as a vital path to reform.

A Sector Ready for Change

For decades, property transactions in Nigeria have relied heavily on paperwork, manual verification, and informal brokers. These outdated methods create loopholes for fraud, raise costs, and slow down delivery. Buyers and developers still face hurdles such as unverified titles, limited access to land records, and inconsistent valuation standards.

As cities like Lagos, Abuja, and Port Harcourt expand rapidly, the pressure for smarter, faster, and more transparent property systems is greater than ever.

Technology as the New Foundation

PropTech provides the tools needed to modernise Nigeria’s housing sector. Through digital land registries, online property verification, smart-building systems, and data analytics, the industry is beginning to evolve.

In Lagos, the state government’s Aumentum Land Administration System and ongoing plans to assign digital property IDs have reduced fraudulent title transfers and improved transparency. Private platforms such as SmallSmall (formerly RentSmallSmall) and PropertyPro.ng are making property transactions more accessible and data-driven, allowing tenants to pay rent flexibly and investors to make better decisions.

Why Nigeria Needs PropTech — Key Drivers

Transparency and Trust: Digital platforms reduce dependence on informal brokers and provide verified data, price comparisons, and authentic documentation.

Efficiency and Cost-Saving: With automation and digital records, tasks like property documentation, valuation, and compliance become faster and more accurate.

Data-Driven Decisions: Access to real-time market information and predictive analytics helps investors and developers reduce risks and find new opportunities.

Sustainability and Building Performance: Smart systems such as sensors and energy-management tools are helping reduce costs and improve environmental efficiency.

Scalability of Housing Delivery: As Nigeria faces housing shortages and affordability challenges, PropTech solutions — like modular construction, digital planning, and virtual marketplaces — can help speed up housing delivery.

NIESV’s Push for Professional Integration

The Nigerian Institution of Estate Surveyors and Valuers (NIESV) continues to champion the adoption of technology in property practice. At its 2025 National Conference, NIESV President Emmanuel Wike emphasised that the future of real estate depends on “digital competency backed by regulation.”

The institution is advocating for electronic land titling, digital record-keeping, and professional training to equip practitioners with the skills needed in a digital real-estate market.

Looking Forward

PropTech’s benefits are clear — from faster transactions and reduced fraud to better planning and investor confidence. However, challenges such as poor internet access, low awareness, and weak regulation still exist.

With coordinated government policy, professional guidance from bodies like NIESV, and continued innovation, Property Technology can reshape Nigeria’s housing market — making it more transparent, efficient, and inclusive for all.