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The establishment of the Nigeria Building Society in 1956 introduced mortgages to Nigeria, and its collapse brought about the Federal Mortgage Bank of Nigeria (FMBN). Due to the immense financial demand of housing production, it is crucial especially in a developing nation like Nigeria, to have financing options in housing delivery.

Nigeria’s largest Mortgage Bank, Aso Savings and Loans Plc needed insights on market opportunities for middle-class Nigerians to guide design and pricing of newly builds.

Sawubona Advisory Services identified critical stakeholders in the value chain, developed a framework for understanding factors affecting demand and supply and engaged these stakeholders to build competitive insights. We deployed the framework to engage real estate agents and real estate development companies, along with more than 7,000 respondents in the C1, C2, A & B socio-economic
classes.

Our work identified the effective demand for new homes in certain locations; provided income levels and spending patterns for households with effective demand; and discovered optimal price points for homes and mortgages among target market.

Sawubona also recommended products targeting niche demographics that were not covered by mortgage products and furthermore recommended size and design of new homes based on feedback from the market.