The Managing Director/Chief Executive Officer of JustOne Homes Ltd, Taiwo Idowu, has warned that fraud, inadequate property verification and the activities of unqualified operators are threatening confidence in Nigeria’s rapidly expanding real estate sector.
The real estate Czar said the growing demand for land and houses had created enormous opportunities in the industry but had also attracted unscrupulous individuals whose activities were hurting legitimate practitioners and investors.
Taiwo said this in an interview with journalists over the weekend.
According to the real estate entrepreneur, the biggest question confronting property buyers today is no longer simply how much a property costs, but whether the person offering it can be trusted.
He said, “Clients are no longer just asking, ‘How much is the property?’ They are asking, ‘Can I trust you?’ And honestly, I think that is the most important question.”
He added that “trust is a currency”, arguing that no amount of marketing could sustain a business whose clients lacked confidence in it.
Idowu, who described himself as a real estate entrepreneur passionate about creating opportunities through property and contributing to Nigeria’s housing needs, said his approach to the business had always been people-centred.
“For me, it has never been just about selling land or houses. It is about helping people secure a future, build wealth, fulfil their dreams of property ownership and create communities where people can thrive,” he said, describing JustOne Homes’ clients as family rather than mere customers.
He attributed the rising cost of property across the country largely to the imbalance between demand and supply, noting that Nigeria’s population continues to grow while land remains finite.
“Land itself is not increasing. So, naturally, as demand continues to rise, the value of property rises as well,” he said.
He, however, noted that the cost of real estate was also being driven by inflation, exchange-rate fluctuations, expensive building materials, labour, logistics and infrastructure costs.
“A developer who could build a house for a particular amount two or three years ago may require significantly more money to build that same house today,” Idowu explained, pointing to the rising costs of cement, steel, finishing materials and other inputs. He nevertheless warned that the situation should not make property ownership an exclusive privilege of the wealthy, urging developers to explore flexible payment structures and affordable housing solutions.
On the growing competition within the sector, Idowu said competition itself was healthy but could become problematic when people without the necessary expertise and professional standards entered the business.
“The major reason is that real estate is a very attractive industry. People see the opportunities, the financial potential and the increasing demand for property,” he said, adding that the relatively low barrier to entry in some areas had enabled some people to present themselves as practitioners without the requisite knowledge, systems or integrity.
He said the consequences of such practices were being felt by legitimate developers, as the misconduct of a few operators could damage public confidence in the entire industry.
“Unfortunately, the actions of a few dishonest people can affect the reputation of the entire industry,” he said.
According to him, real estate companies must therefore understand that professionalism, transparency and integrity are not optional if they want to remain relevant in the long term.
Idowu expressed particular concern over the experiences of Nigerians in the diaspora and foreign investors who have lost confidence in the country’s property market because of fraudulent transactions.
“It is a major concern, and unfortunately, it has affected the confidence of many Nigerians in the diaspora and foreign investors who genuinely want to invest in Nigeria,” he stated.
He noted that some investors had encountered situations where land was allegedly sold by people who did not own it, while others were presented with documents that had not been properly verified.
He urged investors to carry out independent due diligence before committing money to any property transaction. “Investors must be able to verify the company they are dealing with, understand the location of the property, examine the documentation and receive proper records of their transactions,” he said.
Idowu also identified technology as a useful tool for protecting remote investors, saying virtual inspections, digital documentation and regular project updates could make it easier for Nigerians abroad to monitor their investments.
The JustOne Homes CEO said his company was particularly focused on transparency as it expands its operations in Ogun State, which he described as one of Nigeria’s emerging real estate hotspots.
“Ogun State presents enormous opportunities, and I believe we are only beginning to see its full potential,” he said, citing the state’s proximity to Lagos, growing population, infrastructure development, industrial activities and emerging business corridors as factors that could drive sustained property demand.
He stressed that the company’s expansion into Ogun was not simply a response to the growing number of developers moving into the state.
“We are interested in identifying strategic locations where we believe infrastructure, economic activities and population growth will create genuine long-term value,” he said.
JustOne Homes currently has projects including The Gateway Boulevard and Asiko Bungalows in Abeokuta, as well as JustOne Villa, a student hostel development in Ijebu-Ode.
According to Idowu, the company’s approach is to create developments with long-term value rather than merely acquire land, divide it into plots and sell to unsuspecting buyers.
“We are not interested in simply acquiring land, dividing it into plots and selling it. We are interested in creating developments that have a clear vision and long-term value,” he said.
He added that flexible payment options and strong client relationships were also part of the company’s effort to make verified property ownership more accessible.
For prospective investors, Idowu advised that location should be considered alongside infrastructure, economic activity and future development prospects.
“The first thing I would advise anyone to consider is location. But location is more than simply asking whether a place is popular today. Investors should look at where development is going,” he said.
He urged buyers to investigate major roads, industries, institutions, population growth and other factors that could determine the future value of a property.
He also cautioned buyers against allowing attractive prices to override proper checks. “Never invest in property simply because the price is attractive,” Idowu warned, advising investors to verify property titles and determine whether there are existing commitments or litigations. He further urged prospective buyers to research developers, visit their offices and previous projects where possible, and establish whether they were buying for immediate construction, capital appreciation or rental income.
As he leads JustOne Homes into a new phase in Ogun State, Idowu said the expansion represents both an opportunity and a responsibility.
“Personally, this expansion means growth, responsibility and a new opportunity to create impact,” he said, stressing that the company wants its projects to contribute to communities by creating employment, supporting artisans and suppliers, stimulating local businesses and improving the quality of life.
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