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Impact of Digitalisation on Real Estate Operations in Lagos, Nigeria

Edovia, Benedicta Iziegbe (2023)

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Edovia, Benedicta Iziegbe
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023121336811
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Abstract

This study explores the impact of digitalisation on real estate operations in Lagos, Nigeria. The primary objectives were to assess the extent of the adoption of digitalisation in real estate operations, analyze the effects on operational efficiency, and investigate the challenges and opportunities. A qualitative approach was employed, involving interviews with real estate professionals, and supported with a questionnaire survey.
The findings reveal a pervasive integration of digital tools in the industry, particularly through specialized platforms, digital payment methods, and blockchain technology. These technologies streamline property transactions, and financial processes, and address long-standing issues in property ownership.
The study underscores the positive perceptions of professionals toward digitalisation, emphasizing its role in improving workflows, customer satisfaction, and overall sector competitiveness. Participants highlighted the transformative role of data-driven decision-making, immersive property showcasing, and optimized property management. However, challenges such as the continuous need for adaptation to emerging technologies, robust data security, and addressing the digital gap persist. Opportunities, including virtual property tours, and predictive analytics, were identified as valuable assets for improving customer experiences and operational efficiency.
The study recommends that real estate professionals in Lagos embrace continuous learning to adapt to evolving technologies, prioritize robust data security measures, and work collaboratively to bridge the digital gap. If harnessed effectively, the identified opportunities can further enhance the real estate experience for all stakeholders.
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