Property Management and Risk Mitigation in Nigeria's Real Estate Market: Navigating Economic Uncertainty and Policy Shifts

Nigeria’s real estate market operates within a volatile economic environment characterized by inflationary pressures, fluctuating exchange rates, policy reforms and infrastructural deficits. These dynamics pose significant challenges for property managers, investors and policymakers necessitating effective risk mitigation strategies to sustain property values and ensure market stability. This study investigates the intersection of property management practices and risk management approaches in Nigeria’s real estate sector, with emphasis on navigating economic uncertainty and policy shifts. Data were collected through structured questionnaires administered to property managers, Estate and Valuation firms and Investors, complemented by secondary sources including statutory provisions and international guidelines. Analytical techniques such as frequency distribution, mean score analysis and factor analysis were employed to identify key determinants of risk and management responses. Findings reveal that inflation, inconsistent government policies and inadequate infrastructure are the most critical risks influencing property values. Property managers adopt strategies such as diversified investment portfolios, proactive maintenance, tenant relationship management and reliance on professional valuation standards to mitigate these risks. The study highlights the importance of aligning property management practices with macroeconomic realities and global best practices. International frameworks, including the World Bank’s resettlement and land acquisition guidelines and FAO’s land tenure studies, provide models for transparency, accountability and resilience. It concludes that sustainable property management in Nigeria requires integrating risk mitigation into everyday estate operations, strengthening legal frameworks and fostering adaptive strategies that balance profitability with affordability and social equity.