Without exaggeration, the Nigerian real estate sector is one business that is truly lucrative, with limitless investment opportunities and extremely profitable. It is a money spinner to the highest level. Real Estate is currently booming in Nigeria and people are making millions in it. It is necessary to correct the wrong perception of some individuals that believe real estate investment is for the wealthy only. That line of thought is not only a misconception, but also a limitation towards attaining lasting financial freedom.
Real estate business in Nigeria is an investment platform with diverse opportunities, such that there seem to be something for everyone, making it possible for interested parties to make investments based on their capacity which could either be in thousands or billions of naira. Interestingly, real estate investment deals can even be initiated without a dime in your pocket.
A bird-eye view into how lucrative a real estate investment can be is to look into the population growth rate in Nigeria. This does not only indicate viability, it also exposes the unparalleled opportunities available within the sector. In this article, we would consider three (3) major investments areas in Nigeria and explore various avenues for investors and developers.
The growing youth population in Nigeria seen by some as alarming is currently being harnessed by others in making profitable investments. With the wave of civilization sweeping through the nation, the need to be educated has become a necessity in the growing life cycle of a child. Nigerian universities have experienced a significant rise in student enrollments over the past decades. However, the surge in students has not been matched by a corresponding growth in student accommodation. To this end, building houses close to a student population and constructing halls of residence for students has become a goldmine over the years irrespective of the location.
The beauty of this is that the investor (landlord, property developer, real estate professional etc.) gets to realize a lot of proceeds/Return on Investment (ROI) from these kinds of property be it in Lagos, Benin, Ife, Port Harcourt, Abuja. Even in places like Sokoto, Kastina or Adamawa states which are statistically the “poorest” state in Nigeria.
As the colloquial cliché goes “soldier come-soldier go, barrack still remain”, student housing would continue to bring in returns on investment to the investor because as students vacate the property, more students are in line to rent it, making student housing investment one of the most mouth-watering real estate businesses in Nigeria.
The injection of technology into the Nigerian economy especially as seen with online stores has created investment opportunities within the real estate sector. E-commerce continues to reshape the retail world, and although the conventional malls and stores aren’t disappearing, the growth of online shopping is forcing store owners to rethink the way they do business in order to negotiate the new terrain.
For online retailers, the challenge faced is in delivering orders quickly and efficiently without the luxury of an existing sore network or warehouses. So while online shopping might be causing retailers to shrink their real estate presence, it is also spurring the need for massive warehouses to store the goods that are being shipped directly to consumers. Investing in the development of warehousing properties of various size and classes either for sale, lease or rent is a viable investment option.
Strong emphasis has been laid in recent times on the housing deficit in Nigeria. The government as well as private bodies has embarked on laudable investments geared towards tackling the housing challenges faced especially among the low income earners. Statistics indicates that the housing gap is currently at a staggering deficit of 17 million units. This analysis for developers and investors is a clear-cut opportunity for profitable investments
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