The Role of Technology in Improving the Real Estate Market in Nigeria and Ghana

Over the years, technology has transformed various sectors of the economy, including the real estate industry. Millions of people around the world use proptech (Property Technology) in searching for the perfect home or office, managing real estate transactions, or managing their properties.  In Nigeria and Ghana, technology is rapidly changing the way real estate operates. The incorporation of proptech in these emerging real estate markets has significantly improved efficiency, speed, transparency and accuracy. This article will explore the role of technology in improving the real estate market in Nigeria and Ghana, and how it has created new opportunities for investment and growth

One of the major ways technology has improved the real estate market in Nigeria and Ghana is through online property listing platforms. In the past, finding properties to buy or rent was a tedious and time-consuming process that required physical visits to real estate agents or property owners. With the advent of online property listing platforms it has become easier to find properties to buy or rent from the comfort of your home. These platforms provide detailed information about properties, including location, price, size, features, and photos. They also allow property owners to list their properties online and manage their listings.

Another way proptech has shaped these emerging real estate markets is by introducing virtual property tours. Virtual property tours allow prospective buyers or renters to view properties online without physically visiting them. This technology was especially useful during the COVID-19 pandemic when physical visits to properties were restricted. Virtual tours provide a 360-degree view of properties, allowing prospective buyers or renters to explore every part of the property. This technology saves time, reduces the cost of physical visits, and improves the overall efficiency of the real estate market.

In addition to online property listing platforms and virtual tours, technology has also improved the real estate market in Nigeria and Ghana through property management software. Property management software automates property management tasks such as rent collection, lease management, and maintenance requests. This technology streamlines the property management process, reduces human error, and improves efficiency. Property owners and managers can manage their properties from a single platform, track expenses, and generate reports. 

Furthermore, technology has improved the real estate market in Nigeria and Ghana through real estate analytics. Real estate analytics involves the use of data to analyze the real estate market trends, including property prices, rental rates, demand, and supply. Real estate analytics provides valuable insights that property owners, investors, and real estate agents can use to make informed decisions. For instance, real estate analytics can help property owners and investors identify profitable properties to invest in, while real estate agents can use the data to price properties accurately.

Technology has also improved the real estate market in Nigeria and Ghana through online mortgage platforms. In the past, getting a mortgage was a complicated process that required physical visits to banks and lengthy paperwork. With online mortgage platforms getting a mortgage has become easier, faster, and more convenient. These platforms provide mortgage applicants with instant pre-approvals, allowing them to shop for properties with the confidence that they can secure financing. This technology has made homeownership more accessible to Nigerians and Ghanaians, and has fueled the growth of the real estate market.

Evidently proptech continues to transform the real estate market in Nigeria and Ghana. Online property listing platforms, virtual tours, property management software, real estate analytics, and online mortgage platforms are just a few examples of how technology has enhanced the industry. In the same vein, Seso Global is an innovative proptech company that has spearheaded the digitization of the real estate transactions and experiences in Africa. In partnership with the leading real estate developers and professionals, Seso Global has built Africa’s most trusted property marketplace which is a unique one stop shop for digital real estate transactions. Through a unique ecosystem of services, they offer buyers access to trusted properties and professional service providers. This allows for a secured, efficient end-to-end property purchasing experience along the real estate value chain. Daniel Bloch, Seso Global CEO explained, “Proptech has been a game-changer in the African real estate industry especially in countries like Ghana and Nigeria. And Seso Global is at the forefront of this revolution. We understand the value of technology in improving efficiency, transparency and accessibility in the property market. As technology continues to evolve, we are excited about the opportunities it will bring and we remain committed to leading the way in transforming the African real estate industry.”