‘’WHY INVEST IN NIGERIA REAL ESTATE’’
Real Estate is defined as the land and any permanent structures, like a home or improvements attached to the land, whether natural or man-made.
Real Estate is a form of real property and the most interesting part of it is that it is transgenerational.
Real Estate Investing in simple terms refers to the PURCHASE, MANAGEMENT and SALE or rental estate for PROFIT. To achieve a complete cycle, it is important that the highlighted words in Capital letters are achieved accordingly.
It is undeniable true and has been proven beyond all reasonable doubts that when a property is well managed after purchase, that single act elongates the lifespan and durability of that property, making it more attractive and highly sort after with of course a higher value in the market at the point of a resale/rental purpose.
The Giant of Africa (Nigeria), is not only blessed with a rich Cultural Heritage and abundant natural resources, but also has a booming Real Estate market. Investing in Nigeria has become more essential over the years than before as the population grows continually and expansion in urbanization.
The industry has enjoyed the huge sum of foreign direct inflows (13%) in prime locations in Lagos, the likes of Lekki phase 1, Victoria Island and Ikoyi respectively.
One of the significant benefits of investing in Real Estate in Nigeria is the steady income stream it provides, providing an investor a consistent source of cash flow that can last for years through rental income,
Others are;
- Appreciation—-Increase in Value 100%,
- Multipurpose Use—enables you utilize your property for multi purposes,
- Tangible Asset—Physical property that holds so much value,
- Retirement Income—provides earnings to support oneself in retirement,
- Diversification—-variety of options in investments/performs well when other investments are struggling,
- Control—Unlike other investments that are subject to market fluctuations and other sources, real estate investment can be actively managed to maximize returns.
With the above aforementioned, it is also of great importance to carry out your due diligence about the competency and validity of the real estate developer/company you intend to invest in to avoid getting burnt and be rest assured that Real Estate investment tops the chart as one of the safest and surest investment that never depreciates no matter how bad the economy becomes, which has been proven often times than not.
WRITER’S NAME: ONYEBUCHI EMEFIENE
DESIGNATION: BUSINESS DEVELOPMENT EXECUTIVE/BUSINESS STRATEGIST AT PERIWINKLE CONDOS