A recent report by Oikus, auditing over 100,000 property listings across the country, has uncovered 59,000 duplicates, revealing major data integrity gaps in Nigeria’s real estate market.
According to the report, close to 60 per cent (59,119 out of 100,000) of listings analysed were duplicates.
It stated, “To ensure objectivity and reproducibility, Oikus applied a duplicate detection model focused primarily on image similarity and metadata alignment.
“Nearly 60 per cent (59,119 out of 100,000) of listings analysed were duplicates, often caused by agents reposting the same property across multiple platforms or repeatedly to maintain visibility.
“Over 9,000 listings lacked agent identity, making verification or user follow-up nearly impossible. Extreme price outliers (N1bn) and listings with 20 bedrooms suggest either incorrect data input or deliberate inflation to attract attention. These findings underscore the urgent need for data verification and agent accountability in Africa’s property listing ecosystem.
“As part of our ongoing commitment to improving transparency in Africa’s digital real estate market, Oikus conducted a comprehensive data audit covering over 100,000 property listings across multiple platforms and agents.”
The report further noted that the objective was simple, to assess the integrity of property data and uncover patterns of duplication, missing details, and unreliable entries that distort market insights and user trust.
“The findings show the extent of data duplication and opacity in the digital property space. Oikus’ analysis provides a foundational lens for journalists, investors, and policymakers to understand why Nigeria and Africa’s property markets need verified, AI-driven listing systems, and how Oikus is leading that shift,” it added.
Earlier, the African Real Estate Society warned that inadequate and fragmented data remained a major obstacle to housing finance, investor confidence, and sustainable growth in Nigeria’s real estate sector.
The President of the International Real Estate Society, Omokolade Akinsomi, sounded this warning at the African Real Estate Society’s 24th Annual Conference, which was held in Lagos recently.
According to him, at the heart of Nigeria’s housing conversation lies the issue of data, or the lack of it.
He said, “For years, the country has faced the figure of a 17 to 28 million housing deficit, first popularised under the tenure of former Minister of Works and Housing, Babatunde Fashola. Yet stakeholders continue to question the credibility of these numbers. As one speaker pointed out, comparing a villager who is content in a modest detached house to someone living in Banana Island is misleading. The real problem is not simply a shortage of houses but the absence of context-driven, affordable housing data that reflects the realities of Nigerians across income levels.
“This absence of reliable data creates significant obstacles. Without it, funding becomes difficult, housing finance is inaccessible, and the supply chain for materials is uncertain.
“In South Africa, for example, the financial system is integrated, one ATM card can access multiple banks, and nearly everyone is traceable through a unified database. This integration enables widespread credit access. Nigeria, however, remains fragmented. Multiple ATM cards, poor data traceability, and siloed systems make it difficult for individuals and businesses to build credit history. Until these gaps are addressed, investors will struggle to operate with confidence.”
In a similar vein, the Chief Executive Officer of Purple Real Estate Income Plc, Olaide Agboola, noted that many people are unable to purchase a home or property due to a lack of available data and lenders’ unwillingness to lend.
He said, “As a result, more data is needed to understand the abundance of opportunities. Our industry also requires more policies to increase investment. We can boost access to space for individuals and unlock potential among underserved businesses through partnerships between the government, local and international investors, and developers on policies that improve the ease of doing business.”
Nigeria’s housing deficit is a long-standing challenge that has worsened over the decades. From about seven million units in 1991, it grew to 12 million in 2007, 14 million in 2010, and surged to an estimated 28 million in 2022, a figure that remains uncertain due to the country’s persistent lack of reliable housing data.
