Have you heard? “The best time to buy a home is always five years ago,” says Ray Brown.
In five years’ time, you’ll be regretting not doing it today. Now is the time to wake up, if you have been sleeping on this.
Let me enlighten you on the current state of things in the fastest growing hub in the Real Estate investment circle in Nigeria.
In 2016, Dangote made the announcement over his plans to open a refinery in Lagos, and there was a rush by smart investors to buy land and hold positions around that area – primarily Ibeju-Lekki.
Since then, the price of land has increased to as much as 200% of what was obtainable at that time, and there’s no easing on that yet.
As a Nigerian living abroad, if you have been thinking of how you can invest and make profits from the Real Estate in Nigeria, this will guide you.
Lagos is the commercial hub of Nigeria.
It is overpopulated and will continue to be as long as the Atlantic exists, and its borders are open for business.
So, it is necessary to note that owning land or home is a profitable business, but before going into it, you need to set out a plan and understand what you need the land for. This will dictate where you buy land from.
For this article, it’s about being a Real Estate property owner in Lekki, Lagos (specifically at Ibeju-Lekki).
Ibeju Lekki is in a strategic location and has long been touted as the next fastest-growing community, Why? It is because of the potentials in place, gradually being unveiled month after month. Here are some statistics to consider:
- The Dangote refinery for will be employing as many as 60,000 – 100,000 in workforce.
- The Lekki free trade zone has the prospect of employing more than 50,000 as workforce
- The new sea port is there and will likely employ as many as 30,000.
- The new airport terminal which would see as many 10,000 people seeking shelter and all sorts.
All of these points to one thing – more houses to accommodate the workers, recreation centers will be created, hotels, fast food joints, malls, schools, various types of businesses will spring up just to keep up with the development within the area and what’s the common entity they all need? Land!
How can you position yourself to cash in on this?
There is still room for growth and expansion, the above listed commercial centers are not even in place yet, so the boom hasn’t begun yet, your job is to jump in now – be a landowner or better still, buy a house before the completion of these projects.
Here’s another thing to take into consideration: the cost of building materials aren’t static, with inflation and market demand, ensuring they constantly are on an upward trend. This means that a building that required 10 million naira to build 10 years ago will require about triple or more today.
How To Get Started
One of the issues that harm the Real Estate sector in Nigeria is the issue of land grabbers who sell a particular land to multiple buyers and, in other cases, sell parts of lands already owned by someone else to another person.
Another issue is legal backings on the land. It is necessary to note that any business venture worth doing should have documents with lawyers present to witness and consent to.
Not to worry, all these issues have been solved with our presence in this sector.
We started FirstLeadNG to assist Nigerians in Diaspora in purchasing and owning Real Estate properties in Nigeria, in the UK, and Dubai without any hassle.
Simply go through our list of services on our website, contact us, and let’s work a way to ensure your money is put to best use.
We offer bespoke services, so we’ll consider the resources you have at hand, your plan, how long you’re willing to invest and we’ll take it from there.
Just go through our testimonials to hear from clients we’ve assisted in making the right steps to own a Real Estate property in Nigeria
So make your decision today, contact us, FirstleadNG and let’s take it up from there.