The report, which is the second in its series, by the Roland Igbinoba Real Foundation for Housing and Urban Development, titled the State of Lagos Housing Market has taken a critical look at the various segments of the real estate sector with a view to providing a veritable source of information for future investors as well as policy makers.

The State of Lagos Housing Market research report dwells on analysis of key supply-side and demand trends; detailed segmentation of international and local products; historic and current data on housing statistics in Lagos; house price index-measuring across major districts; luxury consumer insight and the average consumer’s demands on housing by specific towns and districts.

With a focus on the Lagos State situation, the report draws emphasis from the high commercial value of the state, which is predicated upon its high population density and states that Lagos State remains the commercial nerve of Nigeria with a high concentration of business activities and is at the moment, the most progressive in terms of infrastructure in Nigeria.

It further revealed that Facebook sources shows that human migration to Lagos grew at the rate of 18.6 per cent between 2000 and 2012, even as the Lagos State government’s Economic Intelligence Unit put the population of Lagos at 20.19 million with a growth rate of 3.2 per cent per annum and an urbanization rate of 16 per cent. Consequently, there are 20,000 persons per square kilometer and a daily intake of 3,000 people coming in from other states placing it as the top travel destination and its accommodation needs a huge puzzle especially at the low and middle-income levels.