Long time ago , real estate business used to be a business for the wealthy unlike now when anyone can start the business with little or nothing.
Times have changed so is the reality of things in Nigeria . Real Estate in Nigeria has a strong hold with quite a number of people agencies and corporation springing up daily.
Real estate has contributed immensely to the economic growth in Nigeria . Real estate is sustainable, has a future and can be banked on .Despite the poor economy we can still see a higher rise in building shopping mall, schools, hotel, etc. It is pretty obvious that real estate can stand the test of time.
1 Rapid and consistent growth in Nigeria: Real estate gives you business foresight .Imagine the population of Nigeria presently and it keeps growing everyday with people needing and looking for a place to live. We are beginning to see it play out now with the number of people that keep asking for a place to rent.
2 Key into collaboration: Real estate is not a business you can single-handled. It is best to dive into joint ownership as it fastens the result you get as an investor.Collaboration are very important, moreover, you don’t need to be rich before starting a real estate business. Also, consider collaborations with people despite your presents financial constrain.
3 Carry out detailed research : AS a real estate investor, you are required to keep doing your research before taking any step . The reason is that change is a constant thing .Some factors change constantly, and if you don’t keep up. you might end up making an investment mistake. Research on the current real estate markets, location and also , developments that occur in the location must be known before you consider any form of investment .
4 Be strategy: The economy hardly affects real estate. A downturn that affects every other sector may likely have little or no effect on the real estate sector. Notwithstanding your investment ( done strategically) can return a higher profit ROI
5 Find the most expensive properties: Sequel to being strategic , finding expensive properties boats of a higher and better income. Lagos and Abuja are popularly known to have the expensive lands and properties in Nigeria . In Lagos, Banana Island is a home to individual ( both Nigerians and Foreigners) with a high net-worth and wealthy people. You can be strategic enough to focus on either of the two cities for your real estate business.
6 Continuous growth in co-working spaces: Co-working spaces are now the real deal lately with people making more demands for it’s as an ideal office for business and start ups. Over the years , due to high demands in co-working facilities, real estate investors have channelled more funds into buildings or converting structures into co-working spaces in Nigeria .
