*Making money from real estate in Nigeria*

Real estate business in Nigeria is flourishing. In fact, it is the best place to consider right now. Now that dollars is rising against the Naira every now and then,people abroad who send money home are buying houses. Many people wants to know how to make money in the real estate in Nigeria.

You can also be scammed if you are gullible. For those abroad who want to do real estate business in Nigeria, I will suggest they deal with reputable companies instead of individuals who are either friends or family members. Some friends can scam you and even plan for you when you come to Nigeria because they know your movement. However, when you deal with a company, you have proper record.

Real estate involves buying and selling of houses,landed property, rent or leasing of apartments. The primary focus of most companies involved in property business is Lekki or Ajah axis. NiyiTabiti gathered Telecom or oil and gas billionaires or high net worth politicians who have served in various capacities in government invest in Ikoyi. According to many estate developers, Ikoyi is one of the expensive real estate corner in Nigeria.If you don’t have billions, don’t worry we can show you how you can be a big time player in the Nigerian property business.

Gistmaster visited Bariga recently. It used to be considered area for charlatans or low life.It is now wearing a new look.Property developers are taking over. Buying or leasing property from original owners.They demolish the old house and build magnificent edifice on it.

I noticed that the new owners are not there to play.They are maximizing the opportunity by building three or even four storey building on places where we used to have bungalows.Places where you used to have 8 or 12 rooms,they turn it to a building with up to eight or six flats.

Lets take a look at some of the investment on property.If Mr X buys a property worth N 20 million in a place like Bariga,Ogba or Agege. Builds six flats on it.Lets say at a cost of N20 Million, making it N40 million.Rent for a new 2 or 3 bedroom flat in Bariga,Agege,Ogba,Ikeja cost between 600,000- 900,000 per year. Excluding maintenance fees,agency fees and commission. Multiply that amount by six flats in a year. Aside making money from rents, they can also sell the house years later at an amount more than their initial investments.

You can also invest your money by going to areas considered under developed like Ibeju Lekki.When some people bought lands in some areas such as Mowe,Ibafo, Denro,Akute,Ikorodu,Sango and so on, friends called them stupid. Right now, they are in money.Even those who moved their own house are sitting on a big value. What people considered a bushy area 5 years ago with a plot costing N200,000 is now worth N6 Million or even more in some areas.

Additional footnotes:
At the moment the best place to invest is Lekki-Epe axis all the way to Ibeju lekki where your investment will accrue with as high as 150% to 200% in a few year. Ibeju lekki boasts of major landmarks and development that attract investors to the axis.

If you are concern about how you can cash in on the boom in Real Estate Investment in Nigeria we are there to guide you.