Nigeria is one of the most important countries of the African continent. In the last decade or so, millions of people have migrated from rural areas to cities like Lagos and Abuja in search of better employment and income opportunities. This has led to an acute shortage of homes in Nigerian cities. This is a very good time for anyone to invest in Nigeria real estate.
Earn high rental income
Shortage of homes for the increasing population in cities has meant that people are forced to pay high rents to landlords. You can expect very high ROI if you can buy a property in a residential area of Lagos. You can either buy an existing apartment or build a house after buying a plot of land.
Flipping can be very profitable
One way to earn high income from investment in real estate in Nigeria is to do the flipping. You can buy dilapidated structures at much less than market prices. After repairing them, you can sell the homes at market prices to earn a good return on investment. You can also rent out the renovated property to start earning a steady stream of income.
Prices are low at the moment
You can make the most of the economic recession that Nigeria has experienced in the last few years. Property prices are at a low and they are bound to stage a recovery in the next few years. You can take benefit of this appreciation and sell your properties at higher prices a few years down the line.
Economic development is taking place
You can take benefit of the economic development that is taking place in the whole of Nigeria. The location is very important for you as an investor. Areas in and around Lagos and Abuja are lucrative for the purpose of investment as most of the economic development in Nigeria is taking place in these two cities. You are bound to reap the rewards whether you invest in residential or commercial piece of land. Some examples of prime locations are Ibeju Lekki project, Lekki Free Trade Zone, and the International Airport Area.
Real estate prices appreciate pretty fast
If you are an investor, you know how volatile stock markets can be. Why take a big risk by investing in the stock market when you can feel safe and secure through investment in real estate? Housing market is booming in Nigeria so investing in real estate is the most prudent step for you.