PropTech Revolution: Nigerian Startups Disrupt Traditional Real Estate Practices
A wave of property technology (PropTech) startups is transforming Nigeria’s real estate sector, introducing innovative solutions to longstanding industry challenges. These companies leverage technologies such as artificial intelligence, blockchain, and virtual reality to streamline property searches, facilitate transactions, and enhance property management services. Online platforms connecting landlords with tenants are gaining popularity, particularly among young urban professionals. Some startups are also exploring crowdfunding models to democratise real estate investment. While challenges such as low digital literacy and limited internet penetration persist in some areas, industry observers believe PropTech has the potential to significantly increase transparency and efficiency in Nigeria’s real estate market.
