The National Association of Realtors (NAR) has emphasized a unified global approach to tackling housing shortages and encouraging cross-border real estate investment, championing collaboration among public and private sectors following its 2025 Regional Summit in Lagos
NAR President‑elect Kevin Brown highlighted that the U.S. faces a housing supply gap of approximately 3.8 million units. He stressed that addressing this shortfall requires both innovation and fresh capital. Brown emphasized that although NAR’s work spans North America, the U.K., and Israel, affordable housing remains a universal need whether in the U.S. or Africa.
The summit delved into themes such as, Cross-border collaboration to unlock real estate investment potential globally, Data-driven advocacy to guide policy in diverse markets, Technology’s role in reshaping consumer experience and transactions.
Frank Oti, NAR’s global ambassador to Africa, noted that exorbitant mortgage rates ranging between 27% and 30% are a major obstacle to homeownership on the continent. He urged governments to create enabling environments that attract foreign investment and establish mortgage financing.
NAR’s innovation arm, Second Century Ventures, through its REACH initiative, has extended support to real estate tech startups in North and Latin America, Australia, Canada, Israel, and the U.K. Brown underscored the importance of diverse perspectives in developing solutions, advising members to “engage with people who think differently than you”.
