hi nairalanders

RESEARCH ON ABUJA PROPERTIES VIS-A-VIS ITS PRESENT AND FUTURE TRENDS

economic principle of demand and supply as a function of price is very much visible in abuja today.
PHASE 1 comprising of maitama, asokoro, wuse and garki has had its fair share of development with an appreciated value over time with land as a fix factor of production and inelastic in supply.

there are virtually very few residential lands in this area and as such, higher value for the few left.
this invariably has affected the rental value and type of development. the very much area yet to attain its full potentials is the central area or CBD. reasons for these is the projected design/plan on the area, high rise buildings are expected of potential investors (commercial in nature).

also , abuja is yet to be highly industrialized a much as lagos to warrant subsidiary affiliated companies securing vital office spaces. be it as it may,these lands aren't cheap.

other areas off PHASE1 with shortage of residential lands are utako and jabi, which has attainted full development to the state , taste and class of PHASE 1.

the present state of abuja as a capital city with various head quarters, both for private and public, with also the geometric rise in population on a daily bases has pushed the demand forces far and above what the supply could possible take, result of which include unprecedented price of land.

these much pressure will be pushed to upcoming areas for which social classification is very important. the echelons of the society desiring a space in abuja wil be waiting on areas like guzape, katampe main and ext. and mabishi.

guzape, is an area presently been serviced (physical dev. yet to commence), the incoming pressure from this area will be from asokoro.
asokoro main and ext. is almost filled with guzape as a boundary location.

maitama main and extension, is almost exhausted and the next point of similar view though, yet to be serviced with infrastucture is katampe which is just seperated by just a road.

for your info. maitama extention was never serviced by the government but on individual ground.

mabushi will gain its pressure from wuse2, utako and jabi with maitama partly, as this area also share s boundary with katampe main. presently julius berger is constructing a bridge and road that will link wuse2 and gwarinpa via mabushi and kado. this invariably has raised the value of land along this route.

THE BIG QUESTION IS , AS AN INVESTOR WERE WILL YOU INVEST YOUR FUND TO REAP A BUMPER RETURNS AS WELL AS HAVE TIME VALUE FOR YOUR MONEY.

i will suggest guzape, katampe main and ext. and mabushi also any area presently under going site and services (e.g guzape, karimu and katampe ext.)


BASIC FACTS

land in abuja appreciates in value higher than any state in nigeria and most african countries

mabushi and katampe main must be opened up to infrastructures and very soon due to maitama and wuse2 pressure.

the prices of lands in these areas is still very much moderate as compared to the already established areas.


BE ONE OF THE FIRST TO HAVE A VANTAGE EDGE IN THE WAKE OF THE REAL ESTATE PLOTS WITH INHERENT LATENT VALUE.

hakir

onivehu2000@yahoo.com

08069585568

@Hakir,

Keep us posted.

@Hakir
What do you think about properties around Karu/New Karu areas?

properties in karu is also increasing in value as a 2 bedroom rentals is now in the neighbourhood of 400k. one can not take away the mass influx of people into abuja. but in term of katampe and mabushi, karu cant march up the locational advantages those 2 places have. katampe and mabushi are potential high class zone while karu is a medium and low class zone.

among the satellite towns from the city center, karu is the most organised and well planned with some infrastructure facilities spelt out in good numbers of areas.

it is also very close to asokoro, not more than 5mins drive away.

new karu area is not within abuja jurisdiction but nassarawa as it is located around maraba. its not compared to karu with is part of abuja.

A million thanks for your information about Karu/New Karu

Great post Hakir!!

How much is the cost of a plot of land in Guzape, Katampe and Mabushi ? And out of curiosity, what is land going for in Jabi and Utako? Thanks

@ losinowo

thanks for the reply, guzape plot of say 1500m2 ranges from 15m - 25m depending on the location within guzape district, the closer to the major road off the district, the more expensive the land.

katampe and mabushi, lands still go as low as 8m and with c of o it could also go as low as 15m. but the closer to maitama and wuse2 the more expensive, it could go for as much as 25m - 35m within this close proximity to either maitama or wuse2.

jabi and utako, 1000m2 is within the neighbourhood of 30m and above. the el-rufai area of jabi has virtually exhausted the residential lands and its very difficult to get one. likewise utako.

i have some guzape area pic i took for a client who bought an estate plot within the district. these pic are about four months back and a lot of improvement can be seen now.

the entrance to the district has been fully tarred.

u can call for the pics just mail me on

onivehu2000@yahoo.com and i will forward u the pic

@hakir,
an inteligent reltor of our time! i am impress by you analysis and
submisssion. please what is the faith of someone who buy land without
a c of o in areas like katampe, guzape, and mabushi where it is yet to be structured?
again, are the above places already planned for future road network?

what do you think about back of qwarinppa?

thanks for the compliment. first and fore most there is nothing wrong in buying a land wit R OF O, you can perfect it to a C OF O by paying the relevant fees.

in the 3 places u mentioned, guzape is almost completed with infrastructure provision and the likes of mabushi and katampe are yet to be serviced (excluding katampe extension which infrastructure is almost completed too).

mind u R OF O is just an offer and there is a contract btw u and the govt when u pay the required fee for the C OF O, which is deemed an acceptance. as u know the person giving an offer can withdraw it at anytime if there is no commitment for an acceptance and hence no legal tussle.

presently 98% of the land in guzape is R OF O cos no physical development is there yet as they are trying to round off the infrastructure. but katampe and mabushi has ample of physical buildings in them.

the other issue is that if an area gain advantage as a result of an activity by either the govt or private co-operates, influential people can easily influence the govt to revoke the said land with the pretense of not conforming to development time or lack of not honoring the contract by perfection of title.

before a place to be enmarked for infrastructural devt, d engineering drawing for such area has to be completed at the relevant authourity's office at FCDA.

mabushi and katampe should almost be completed and lastly the political will. am sure the politicians has plan for katampe and mabushi. all other places around it are high brow areas of which land are being exhausted. they just buy cheaply in these areas (mabushi and katampe) and suddenly open it up and sell at an outrageous prices.

with the impending investment to come at jabi lake the presure for mabushi will be too much to keep locking it up.

thanks once again

you can reach me on 08069585568 for further clarification

hakir

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