Expert highlights fraud and poor records as barriers to property investment
Dr Valentine Mbamalu, Group Managing Director of Touch of Valentine Homes, has pointed out that poor land documentation and fraudulent transactions are discouraging Nigerians from investing in property. He shared these concerns during the launch of the company’s new estate project in Lagos. Dr Mbamalu emphasized the need for proper title verification and public education to tackle these issues. He also stressed the importance of government intervention to address rising costs and economic instability in the real estate sector.
What we know
- Dr Valentine Mbamalu identified poor land documentation and fraudulent transactions as major issues in Nigeria’s property sector.
- He said his experience as a legal practitioner exposed him to many land disputes and multiple ownership claims.
- The company is focusing on proper title verification, public sensitisation, and flexible housing initiatives to address these challenges.
- Dr Mbamalu noted that legal fees for property verification are minor compared to potential financial losses from fraud.
- He called for stronger government policies to stabilise prices, reduce inflation, and support developers in the real estate industry.
