• Real Estate Surveyors & Valuers + Facility Managers

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  • Property Valuation

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Established in 1997, the firm of Wole Ogungbola & Co has built up a wealth of real estate consultancy expertise and have positioned ourselves as the leading firm of estate surveyors and valuers in Nigeria .Our proven experience and solid reputation are combined with unrivalled local knowledge – enabling us to deliver quality and service to our clients throughout the entire property lifecycle. Our offices afford maximum coverage and fast response times, whatever our clients’ needs.

 

Wole Ogungbola & Co is known for its exceptional customer service that results from our talented team of qualified professionals and efficient state-of-the-art systems and technology. We understand that quality and accuracy are as important to you as timeliness of service delivery and we continue to be committed to offering our clients industry-leading quality control systems.

Our broad range of services includes:

Valuation for All purposes Plant and Machinery

Valuation and Inventories

Property Rating and Taxation

Feasibility and Viability Studies Development

Management Services Facilities

Property Management Estate Agency and Marketing.

 

Property Valuation

The department undertakes the valuation of all types of properties including

  • Plant and machinery valuation and inventories
  • Valuation of educational, commercial, industrial and residential properties for accounting, insurance, mortgage, compulsory acquisition, floatation, before-you-buy or sell,  and other purposes.
  • Rating valuation of properties for local authorities and also on behalf of individuals requiring re-assessment of their properties.

We operate with goal-directed intensity, yet never sacrifice quality for increased revenue. By focusing on your needs first, we strive to continuously evaluate and improve our services. Call: +234 8032152141.

 

Facilities Management 

The Facilities Management department is basically involved in the management of specialized properties / facilities and organized estates. The department ensures that facilities are maintained and used effectively and users’ needs are met in a professional manner. The department also handles the management of commercial, industrial and residential properties. Currently we manage over N2 billion of real estate, collecting rent and administering service charge of over N200 million annually.

We deal with many tenants with different unique needs and from diverse backgrounds and relates with high net worth residents including Governors, Senators and House of Assembly Members in various estates we manage.  We strive to maintain the comfort, beauty, and safety of each community we serve. This is why we are the premier choice for Nigeria's gated communities and organized estates. Call: 234 8034632671.

Property Management

Our experienced staff believes in a hands-on, personal, team approach to property management. We recognize the individual requirements of each property and we tailor the management program to meet those special needs. Through our experienced and result driven approach and a never-ending aim for capital improvements, we continue to provide outstanding value and service to all properties that we manage

Our Philosophy – A Customized Approach to Each Property
To operate each property with outstanding customer service that opens up communication among all parties and the result is maximized efficiency of doing business, which in turn relates to highly maximized profits for all of our clients.

Our Differentiator – Proactive Management Approach
We pride ourselves on management services that focus on protecting your investment and maximizing your return. Under the direction of dedicated team leaders, our professionals focus on problem prevention rather than problem resolution.

Call +234 7084836173

 

Estate Agency/Property Marketing

We Offer expert advice regarding property sales and leasing, investment analysis for individual, syndicate and corporate investor clients looking to grow their property portfolio or seeking new corporate assets.

Our brokers serve an international clientele of residential and business buyers, sellers and renters, providing access to Nigeria’s important home portfolio of private and commercial properties. Our full service staff supports all real estate brokerage interests including purchase, letting, taking on lease of all types of properties.

Why you should consider using our services:

  • Expertise - We have adequate property experience in Lagos and Abuja. We know these markets and others inside and out.
  • Trust - In an industry where quality is sometimes difficult to distinguish, our name is known and trusted.

 We also undertake direct marketing of properties with huge client base that cut across various sectors of the economy.

Development Management Services

We provide guidance and advice at all stages of property development from initial building conception, through design, financing, project management and leasing negotiations. We carry out feasibility appraisals prior to the commencement of projects and also provide professional stage/interim valuations as project advances.

Estate Development

We provide expertise on the economics involved in all aspects of development including optimum use, layout and planning advice, marketing strategy, etc.
Call +234 8032152141

 

Predictions for the Housing Market

Wole OgungbolaWith all economic parameters indicating a slowdown and large preponderance of government’s recurrent expenditure, construction costs will go up and harden rentals in the housing industry. Similarly, the subsidy removal will trigger inflationary trend, which will impact negatively on house prices and rentals, making it impossible for many people to buy an apartment, according to the 2012 predictions of housing industry experts.  But a number of the housing professionals expressed optimism for 2012, after a fairly grim 2011. They expect the housing market to strengthen and property values to defy the wider downturn.

Infact, in 2011 there was oversupply of luxury accommodation in prime areas that softened rentals in the sector, while the inability of the nation to curb its security issues eroded investor’s confidence. The year was characterised by virtual inactivity in the construction sector, low level of effective demand for houses and tumbling of property values and rental prices especially in the frontline cities of Lagos, Abuja and Port Harcout.

Surprisingly, the rumpus in the banking sector continued to impact negatively on the real estate market. Property developers could not access funds for development while would-be house owners also did not have access to mortgages.

According to London-based real estate firm, Knight Frank’s report released recently, prime global city markets in 2012 are likely to outperform their mainstream national counterparts, saying, “don’t expect all prime residential markets to deliver positive growth.

The forecast concentrates on the prime residential markets in the world’s leading cities, and highlights how growing global uncertainty and government intervention in the property market, especially in Asia, will weigh on prices in some areas. But some cities, such as Moscow and Bangkok, will shrug off these concerns to register growth of between 10 and 20 per cent in 2012. Paris, Kiev and St Petersburg are all expected to rise by five to 10per cent, with London slotting in next with a rise of five per cent. But prices in Shanghai, Mumbai, Manama, Hong Kong and Geneva are tipped to fall by between 10 and 20per cent.

The Guardian’s survey shows that estate surveyors expect a greater opportunities for real estate in the middle to low income sector where demand greatly outstrips supply during 2012 than for attached units, a category that includes townhouses and condominium apartments. “The cost of developing houses and property will escalate while at the same time the purchasing power of the populace may crash to the lowest ebb in recent history,” says Mr. Bode Adediji, President, Nigerian Institution of Estate Surveyors and Valuers (NIESV).

He also sees the nation withnessing mass exodus of people from certain security-prone areas to more secure cities with it obvious attendant implications especially on residential houses. Adediji argued that house values and rentals will continue to crash in some regions while the same factor will push up the demand and prices in destination locations.

The President, Association of Professional Bodies of Nigeria (APBN), Mr. Segun Ajanlekoko, also agreed with Adediji‘s assessment of the rental market: “The real estate is universal and dependent on the behest of government fiscal policy. With large preponderance of recuurent expenditure very little can be expected on the sector.

“Government should create the necessary enabling environment that will ensure influx of private sector funds and direct foreign investments to boost the construction industry and promote indigenous manpower,” he said

For Dr. Femi Olomola, Second Vice President, Nigerian Institute of Town Planners (NITP), there is no reason to be optimistic in 2012 as some of the factors hampering the housing industry are still much around, as “cement price is still high and getting a formal government allocation of a plot of land is like climbing Mount Kilimanjaro. Securing a title to land is via paying punitive government charges on Governor’s consent/regularisation/Certificate of occupancy. Getting building plan approval is via a rather tortuous route lined with exorbitant and investment-unfriendly government charges.”

Brighter days seem to lay ahead, President, the International Real Estate Federation (FIABCI), Nigeria, Chief Kola Akomolede forcasts. “It is expected that with the merger of fringe banks and take over of some by the Central Bank of Nigeria (CBN), many banks will be able to resume lending to the real estate sector this year.”

Akomodede, NIESV’s Chairman, Faculty of Housing, added, “last year, many politicians did not play in the real estate sector because it was an election year which required huge expenses. It is expected that they will resume their investments in property this year from their largesse of office. This again may stimulate demand and propel higher prices.”

A principal partner at the estate surveying firm of Ubosi Eleh and Company, Mr. Chudi Ubosi, concurred. “There is a gradual climb out of the depressed state of 2011 and this very gradual climb upwards will continue signaling a positive outlook for property and related transactions. The greatest opportunities for real estate lie in the middle to low income sector where demand greatly outstrips supply.”

Last modified on Wednesday, 15 February 2012 05:52

Hot Properties - Call (+234) 0708-483- 6172, 0708-483-6173 or 0808-677-6628 for Details

About Us

Wole Ogungbola & Co is known for its exceptional customer service that results from our talented team of qualified professionals and efficient state-of-the-art systems and technology.. Read more...

Contact us

  • Address: Plot 3, Remi Olowude Street, Lekki, Peninsula Lagos
  • Tel: +0708-483- 6172,  0708-483-6173,
  • Postal: P.O.Box 1315, Lagos, Nigeria
  • Email: This email address is being protected from spambots. You need JavaScript enabled to view it.