The Group Managing Director of Touch of Valentine Homes, a subsidiary of TOV Group Limited, Dr Valentine Mbamalu, has identified poor land documentation and fraudulent transactions as major issues discouraging many Nigerians from investing in property.
According to a statement on Monday, Mbamalu stated this in Lagos while speaking in an interview during the launch of the company’s newest estate project, tagged “Plus Lagos”.
Mbamalu added that with the launch of the project, the company is determined to address the lingering problems of insecurity in Nigeria’s real estate sector, among others, through proper title verification, public sensitisation and flexible housing initiatives.
Speaking on the challenges confronting the Nigerian real estate sector, Mbamalu identified “poor land documentation and fraudulent transactions” as major issues discouraging many Nigerians from investing in property.
He added that his experience as a legal practitioner exposed him to several cases involving land disputes and multiple ownership claims, which often leave unsuspecting buyers stranded after making huge financial commitments.
“As a lawyer, I have seen so many cases involving land litigation in Nigeria and how people fall victim to different schemes from fraudulent individuals. We have therefore decided at TOV Homes to focus more on the issue of land title documents because ownership begins with proper documentation,” Mbamalu said.
He stressed that many Nigerians fail to understand that the foundation of any property investment lies in the legitimacy of its title documents, noting that any mistake made at that stage could lead to years of litigation and financial losses.
“Without having a proper land title document and understanding what it implies to any buyer, we will continue to have problems in the real estate sector. Once you get the title wrong, you have already got everything wrong,” he added.
Mbamalu emphasised that to address these challenges, the company has embarked on public enlightenment programmes aimed at educating Nigerians on the importance of engaging legal professionals before purchasing landed properties.
According to him, the company organises quarterly training and sensitisation programmes, where members of the public are educated on documentation processes, title verification, and the dangers of buying land without proper legal guidance.
“A lot of people think they can just wake up and buy property without proper verification. But you need a lawyer for everything you do. Lawyers guide you and help you verify the authenticity of documents before payment is made,” he stated.
He explained that legal fees attached to property verification are insignificant when compared to the financial and emotional losses that often arise from fraudulent land transactions.
Speaking on Nigeria’s wider housing deficit, Mbamalu maintained that the real estate sector cannot independently address the country’s housing challenges without strong government intervention and broader economic reforms.
He blamed the rising cost of building materials, inflation and unstable economic conditions for the increasing prices of houses and rents across the country.
“There is nothing the real estate sector can do if building materials continue to skyrocket; developers can only sell based on the cost of construction and the market realities,” he stated.
He therefore called on governments at all levels to introduce policies capable of stabilising prices, reducing inflation and supporting developers through improved land administration and housing regulations.
Mbamalu warned that unless urgent steps are taken to improve economic conditions and regulate critical sectors affecting housing delivery, rents and property prices would continue to rise beyond the reach of average Nigerians.
“Until we have stable governance and effective price control mechanisms in the country, affordable housing will continue to remain a major challenge for millions of Nigerians,” he concluded.
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