Kevin Brown, NAR’s President-elect, emphasized the scale of the housing gap in the U.S., pegged at nearly 3.8 million homes, and stressed that the shortage isn’t limited to America. According to him, the solution lies in a mix of innovation, capital infusion, and shared global expertise. NAR has already made real estate investments in regions like North America, Israel, and the UK, aiming to bring scalable solutions to what is now a worldwide concern.

Frank Oti, a Los Angeles-based realtor and NAR’s global ambassador to Africa, highlighted the affordability issue caused by soaring mortgage rates in African markets some as high as 30 percent. He urged governments to encourage foreign investment and create viable mortgage systems to make homeownership achievable for more people.

The summit focused on boosting investment readiness and data-driven policymaking while stressing the need for coordinated advocacy to strengthen real estate markets worldwide. Brown pointed to the importance of education in expanding the global reach of real estate professionals, noting how designations like the Certified International Property Specialist (CIPS) can equip agents to handle international transactions and navigate cultural and market differences effectively.

He also cited NAR’s 2024 report, which showed foreign buyers accounted for $42 billion in U.S. home sales within a 12-month period, underscoring how international commerce continues to shape housing trends. Programmes like REACH, run by NAR’s Second Century Ventures, are pushing innovation in markets across the globe from Latin America and Australia to Canada and the UK.

In closing, Brown urged real estate professionals to engage with diverse perspectives, especially in finding solutions to global challenges. “You grow when you listen to people who think differently,” he said, stressing that solving the housing crisis will require bold ideas, open minds, and a collective push from both public and private sectors.

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The initiative set up by the Honourable Minister of Housing and Urban Development, Arc. Ahmed Dangiwa and being spearheaded by a 13-member Steering Committee, is expected to revolutionize the housing sector by providing credible and accessible data that will drive housing policies, investments, and urban development strategies.

At a recent workshop held in Abuja, the Chair of the Technical Committee, Mr. Taofeeq Olatinwo of the Nigeria Mortgage Refinance Company (NMRC), emphasized the importance of creating a comprehensive housing database.

According to him, the NHDC will provide real-time housing data that will shape housing policies, facilitate financing, and guide government interventions. The centre will also support the financial market by offering valuable insights to investors interested in Nigeria’s real estate sector.

The NHDC is being developed by the Federal Ministry of Housing and Urban Development in collaboration with key institutions, including, Nigeria Mortgage Refinance Company (NMRC), National Bureau of Statistics (NBS), Central Bank of Nigeria (CBN), Federal Mortgage Bank of Nigeria (FMBN), Housing Development Advocacy Network (HDAN), National Population Commission (NPC), Family Homes Funds Limited (FHFL), Federal Housing Authority (FHA), Association of Housing Corporation of Nigeria (AHCN), Real Estate Developers Association of Nigeria (REDAN) and Homes Group Limited.

These organizations are contributing critical datasets, ranging from the number of habitable and non-habitable houses to land title records, building attributes, and market trends. The committee has already compiled a significant amount of housing data, including the total number of houses in Nigeria, broken down by location, building type, and structural attributes.

Mr. Olatinwo highlighted that the committee is working across five key areas: establishing a data collection framework, ensuring continuous engagement with stakeholders, developing a distribution channel for investors, assessing housing’s contribution to Nigeria’s GDP, and setting up a regulatory framework for the NHDC’s operations. The Central Bank of Nigeria (CBN) has also committed to sponsoring a detailed research study on Nigeria’s housing deficit, a crucial step toward understanding the extent of the problem and identifying data-driven solutions.

To ensure that the NHDC remains efficient and transparent, the Technical Committee has established four specialized sub-teams to focus on different aspects of the project. These teams are tasked with designing a data-gathering strategy, setting up a distribution system for policymakers and investors, and ensuring that relevant government agencies actively support the initiative.

After the committee’s next meeting, the Housing Development Advocacy Network (HDAN) will organize a stakeholders’ workshop aimed at gathering more input from industry players and strengthening the NHDC’s foundation.

A key milestone in the NHDC’s development is the establishment of a structured communication and reporting protocol. The committee has agreed to provide quarterly updates to the Minister of Housing and Urban Development, Arc. Ahmed Dangiwa, and monthly progress reports to the Steering Committee. This structured approach ensures that the project stays on course and allows for necessary adjustments as new data is collected and analyzed.

The committee has also commenced the integration of all collected data into the Housing Market Information Portal (HMIP), a digital platform that will serve as the primary access point for housing market insights. The portal will provide investors, developers, and government agencies with real-time data on housing availability, mortgage financing, property prices, and construction trends.

With at least five workshops already held, and a solid framework in place, stakeholders in Nigeria and beyond remain optimistic about the NHDC’s potential to bridge Nigeria’s housing deficit and foster economic growth through a structured housing economy.

By aligning data-driven policies with strategic investments, the Federal Government under the leadership of His Excellency, President Bola Ahmed Tinubu is taking a bold step toward making affordable housing a reality for millions of Nigerians.

The post FG’s Committee Accelerates Work on National Housing Data, Centre to Tackle Nigeria’s Housing Crisis appeared first on Housing TV Africa.

Experts believe that leveraging insurance and pension schemes could be a transformative solution to this pressing issue.

With a housing deficit estimated at over 20 million units, innovative financial mechanisms are needed to bridge the gap. By integrating insurance policies and pension funds into housing finance, Nigerians can access long-term, low-interest mortgage plans and better housing opportunities.

Insurance can provide security for homeowners against risks such as property loss or damage, while pension schemes offer a sustainable pool of funds for mortgage financing. Experts argue that aligning these two sectors with housing policies could make homeownership more attainable for the average Nigerian.

Stakeholders have called on the government and private sector to collaborate in creating policies that enable the use of pension contributions as collateral for housing loans. Similarly, incentivizing insurance providers to offer affordable housing-related policies can further strengthen the framework.

By prioritizing reforms in the insurance and pension industries, Nigeria could take a significant step towards reducing homelessness and providing affordable housing for its citizens.

The post How Insurance and Pension Reforms Could Solve Nigeria’s Housing Crisis appeared first on Housing TV Africa.