moremi2008:

Too much money chasing around the few properties in choice neighborhoods. Generally a bad idea to invest in high-brow areas these days - the assets are just grossly over-inflated.

maclatunji:

Are you sure? Prices have been falling since 2008. Yes they are still high in real terms but it is not as bad as you are painting. Even the super-rich are finding it difficult to throw money around these days.

Real Estate is still a good investment in Nigeria if you have realistic expectations on your Return on Investment and the Payback Period. As for specific locations, take a look at central lower-middle class locations. I think places like Mushin, Oshodi/Isolo, top the list.

Alternatively, invest in building a small prototype estate that will quickly get occupied and expand your interests from there, Badagry axis, Mowe Ofada and Ikorodu are still places to seriously consider as an investor for such!

aasog1:

[b]with nigeria currently at 150,000,000, its been estimated that we will hit 200,000,000 in the next 9 years and about 15% of those people will be in Lagos. but hey, Lagos cant contain all that numbers. i expertly predict that Ogun state is going to benefit from Lagos Mega-City status not Lagos itself. People are already entering Ogun State in trickles, and the mass migration of Lagosians to Mowe-Ibafo, Owode, Ofada, Ikorodu, Ifo, Otta, Ilaro, Wasimi, Iro, and other parts of Ogun State is a clear testimony of more to Happen.

@OP: Real Estate like building apartments wont give you fast returns as this is even more expensive. i am a professional builder, and building ties up so much funds and returns comes in extremely slow and take a very long time. But mass purchase of dry and smartly located lands will suprise you in years to come. I am stressing YEARS to come. If you dont have the patience, and cant endure and go for a long term ROI, then real estate is the wrong area to look.

in 2020, when we hit 200,000,000, we will have a fresh set of Nigerians from age: 1-10 years. This require the following which are the best businesses any Nigerian can go within the next 10 years.

1. properties (developed or undeveloped)
2. education (schools, university or educational materials)
3. agriculture (animals, staples or processed)
4. baby products (childrens foods, etc)
5. energy
6. health (hospitals, gyms, pharma, etc)

Call me: 08036685576, and I will show you the locations above with proofs. My company is helping Nigerians abroad and within invest smartly in ONLY real estate.[/b]

moremi2008:

Asset prices in high-brow areas are still unrealistic overpriced. Most of them were built with stolen and VERY patient money. The owners won't reduce prices unless faced with a severe liquidity crunch. Prices on the Lekki axis still have a very long way to fall. VI/Ikoyi are just sepulchers for entombing inflated egos and for extorting terrified expatriates.

Don't be so sure about making decent returns in middle-class/upper-middle class neighborhoods. Landlords are often better off putting their monies in fixed deposits than spending a small fortune in impoverished neighborhoods that can't support good rental income. I know from personal experience. Spending N15mm on a property that only generates N1.6mm p.a. in Nigeria (excl. maintenance costs and agent fees) is NOT a good business proposal in Nigeria's insane interest rate regime. Never again!

Taich:
Real estate pays in Nigeria especially in Abuja. Lands are available in Abuja. Available lands around airport road, Gwarinpa,gudu, etc Interested persons should call chuka @ 08034685623