Out of the estimated 15 million Nigerians living abroad, research shows that less than 5% own landed properties back here in the country. Are you surprised? Don’t be.
In the past, Nigerians in the Diaspora have been dealt a big blow when it comes to investing in Real Estate in Nigeria.
Albert Einstein once said, “Insanity is doing the same thing over and over again and expecting a different result.”
In as much as he’s right about this philosophy, does it mean you have to back out from the lucrative real estate investment in Nigeria? NO, instead, you find another way to make it work because it matters that much to you.
If you are a Nigerian living abroad who have personal or heard others’ experiences with land snatchers and you have resigned to the fate that investing in properties in Nigeria is an impossible hurdle, we have a different new to tell you.
Nigeria’s Real Estate Investment industry has evolved from what it used to be in the past, and Nigerians abroad don’t need to be scared of investing in Properties in Nigeria.
FirstLeadNG has good news that will burst your fears and doubts.
The future is for those who have the foresight and take ruthless actions. Here are 3 major steps of how you can get your own land or home.
Own A Home In Nigeria – Investment Possibility
So I’ll be assuming you are new in the business of Investing in Landed Properties in Nigeria, the first thing you should know is that land never depreciates. It can only get better, depending on how you utilize it.
A practical example is the case of the plot of land around Sangotedo (a community in the Lekki peninsula. It is situated along the Lekki – Epe Expressway in Lagos State) that was bought at 8.4 million Naira in 2017, after 17 months, it was going for nearly double its initial price and was on sale at 14 million Naira, for those who held on without developing it, they would have realized Returns On Investment (ROI) of approximately 67%.
For those who developed the land and erected 3 bedroom and 4 bedroom flats on the same expanse of land, they put it up at 90 and 100 million Naira respectively.
Now, let’s say that you bought a piece of land in this same area in 2017 for 8.4 million Naira and spent about 20 million Naira to erect a building consisting of 4 blocks of 3 bedroom flats. Thereafter, you decide to rent each for 1.2 million Naira/year, meaning 4.8 million naira returns every year.
Basically, since 2018, you’ll have been earning on the property and will have a steady stream of passive income, which at the end of a 5-year spell would have returned more than 100% of your initial investment and that’s not even the only good part, the property is still yours whenever you return to the country. Win-win all round.
Note: This is not even factoring the bi-annual review of rental rates in Nigeria, which in most cases, is on an upward trajectory.
You need to aware of another point here, the Real Estate economics is affected by price in crude oil, and it’s no more a secret that the price per barrel has experienced a ridiculous downfall, from 115 dollars per barrel in mid-2014, it’s currently trading lower than 10 dollars per barrel. Consequently, the Real Estate nominal growth has shrunk from 22.34% to 1.76% during that time span.
What does this mean to you? Is this a bad time to pursue Real Estate Investment? NO.
Instead, it creates an opportunity to hold a position, to buy and hold on to you your real estate properties while in this precarious state, so that when its valuation rises, your returns will jack up too.
So how do you identify properties that can make you not just a Real Estate property owner but also a landlord who’s assured of making high ROI?
Will you like to be assured that the property is looked after properly so that whenever you get back into the country, you’ll meet it intact and new?
The whole buying of the land and building of your desired apartment can be handled by our team. You will be able to track every step of the way, right from the comfort of your home or office, anywhere in the world.
We offer you bespoke investment options that are safe and secure with adequate legal documentation that ensures you never have to worry about the ownership of your property on getting back into Nigeria.
Did you know that we have installment payment options too? That means you don’t need to have the whole money to get started with real estate investment in Nigeria.
Get in touch with us, FirstleadNG today, and let’s make you a homeowner!