Surveyor Blames Political Instability, Harsh Economy For Slow Real Estate Growth

An estate surveyor and valuer, Ramata Adeyemi, has blamed the slow pace of estate surveyor and estate management development on the harsh economic and political situations in the country.

She also noted that the traditional method of running an estate business has lost its relevance, stressing that the way to grow the business is to integrate technology to improve efficiency, communication and security.

She made the disclosure at the weekend while fielding questions from journalists in Lokoja on the way forward for the practice of Estate Surveyor and valuers profession in Nigeria.

Adeyemi maintained that inflation, economic meltdown and political instability impacts negatively on property management and real estate practice across the country.

She noted that the poor attitudes of both landlords and tenants play significant roles in de-marketing of the profession, adding that choosing a professional firm will enhance efficiency and long-term profitability.

According to her, key challenges affecting the profession include landlord attitudes, inflation, and political and economic factors.

She however said modern technology is improving efficiency of the firms.

Adeyemi advised professionals to work in synergy with financial experts, tenant managers, property and lease managers to rescue the profession from the claws of impostors who posed as realtors.