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August 19, 2022

Exceptional Reasons To Invest In Real Estate In Nigeria

If you wish to augment your income in Nigeria, the real estate industry is one of the best options available. There are numerous financial benefits when you invest in real estate in Nigeria. These benefits inspire many to kick start their journey in the real estate industry in Nigeria.

If you wish to augment your income in Nigeria, the real estate industry is one of the best options available. There are numerous financial benefits when you invest in real estate in Nigeria. These benefits inspire many to kick start their journey in the real estate industry in Nigeria.

Even if you are not financially buoyant, you can still make it big in the real estate industry. Are there other benefits in the real estate industry that should motivate you to invest? This article will provide a satisfying answer to this question. The content will ease your entry into the real estate industry. Before we proceed, let us talk about the real estate industry.

  • What is Real Estate?

Real estate refers to any property that consists of land and buildings. It also includes all the natural resources like minerals, crops, water, and other properties, both movable and immovable. Experts divide the real estate into four categories, Land, residential real estate, commercial real estate, and industrial real estate.

Many often conclude that only the rich can enter the real estate industry. They nurse the idea that any investment in the real estate industry must be an investment in millions of Naira. This opinion is flawed; you do not need to be wealthy to enter the real estate industry. Schedule a consultation with Landshop to learn more about the real estate industry.

The real estate industry in Nigeria is growing at an impressive rate. A recent report by Business Day shows that the Nigeria real estate industry has a value of around $56 Billion. The report states that the demand for real estate property rose to double-figure in 2019. Additionally, property listings recorded an increase of up to 72%. Such impressive figures and reports give hope that an investment in the real estate industry is reasonable.

  • Why invest in real estate in Nigeria?

The unsteady economy in Nigeria makes it hard to believe any investment holds any good. But you can take advantage of the real estate industry if you want to tow the safest line to financial freedom. Let us discuss seven reasons why you should invest in the real estate industry in Nigeria.

  • Real estate appreciates over time

Land sold for #100,000 five years ago will presently be worth millions of Naira. For example, a plot of land in a village in Osun State goes for around #40,000 – #50,000 less than ten years ago. Presently, the price has skyrocketed to almost #500,000 – 1 million Naira, depending on the location.

The reason for the increase in the price of undeveloped land boils down to appreciation. Real estate appreciates over time. Even lands that seem useless in the initial stage will rise in value over time. There are several reasons why the value of land might increase. If there is an institution in the area, investors need land to build hostels for students. As such, the price of properties in such locations will rise. One basic fact is that longevity of real estate properties increases the value. The value never depreciates; it will always appreciate if you are patient.

  • Excellent source of passive income

Maybe you have other sources of income, but you want to earn more money, you have a good option in real estate. You do not have to leave your job to make more money in the real estate industry. Buying properties and renting the property out allows you to earn money monthly or yearly.

Depending on where the property is in Nigeria, the amount you can earn on each property varies. You may choose to be in charge of the property or hire an agent to help you manage your property. Either way, you will get paid by those using your property based on the plan you design. This extra income will not affect your primary source of income. It is passive!

  • Real estate investment is safe.

Real estate investment is one of the safest forms of investment. In the market, investments are affected directly or indirectly by environmental factors, but the impact on real estate is often positive. Nigeria has battled and is currently battling with recession. The recession has affected the economy in so many ways.

Nonetheless, property owners in the real estate industry have seen the value of their properties rise significantly. The risk attached to real estate is also low compared to other forms of investment. Real estate investment is more stable and does not drop like shares that can be high in the morning and drop in value within hours.

  • Real estate puts you in control

If you want to be in control of your earning, then invest in real estate. The experience is in sharp contrast to what happens with your shares, where you need expert brokers to help you handle your investment. When you invest in real estate, you become a property owner. You can decide to rent the property out or sell it for maximum profit.

You can seek advice from agents, but no one gets to decide how you will handle your property. If you are renting the property out, you have to name the price of the property. While there are rent requirements in every location, you get to decide how much tenants will pay for your properties

  • Real estate is tangible.

When it comes to investment that can be seen and felt, real estate investment takes the lead. When you invest in real estate, you can see the property you are buying. Personally inspect it and ensure that it meets your needs and feels good to you. One good thing about buying a property is that you can sell the property itself for money.

  • Real estate is improvable.

One of the perks of investing in real estate in Nigeria is that you can improve your investment. With every development that occurs on the property, you can expect an increase in the value. Improving your real estate investment is easy and affordable. If you have bare land, you can build houses or shops on this vacant land. After completing the project, you can rent it out for profit.

Additionally, if there is a structure on the land already, you can paint the house and add some fittings to increase the worth of the property. With some adjustments to the property, you make it more beautiful. You can increase its value and the amount paid as rent on the property.

  • Real estate is technology-supportive.

Any business or investment that does not support the use of technology will not survive the test of time. With the latest development in the world of technology, you can gain access to properties in the real estate industry.

If your mobile device is internet-enabled, all you need to do is search for available properties in your location on google. You will get results that bring you the best options or companies that deliver real estate properties.

Additionally, top real estate companies like Landshop have a functional website that is easy to access. From this website, you can efficiently search for the desired property, speak with agents, and schedule time for consultation. If you also have properties that you want to manage, getting realtors online to help you manage them is easy.

Thanks to leading social media platforms, you can take a picture of your properties or make a clear video and post it on your company’s page on social media. Those in need of such properties can then contact you to enquire about the property without leaving the comfort of their homes. Yes, technology plays a leading role in the advancement of the real estate industry in our days, and the benefits are limitless.

  • Real estate is a solid collateral asset.

There are several reasons why you might need a loan from a bank or other financial organization. One of the requirements to secure a large sum of loans is to have collateral. Having collateral minimizes the risk for lenders, and it helps remind the borrower that they have something to lose if they don’t repay the loan.

If you have real estate property, you can effortlessly get a loan from your bank. Your property can stand as the collateral for the loan you want to collect. The higher the value of your property, the higher the loan amount you can access.

Conclusion

There are several benefits when you invest in real estate in Nigeria. We have considered seven of the benefits and high points of investing in real estate in Nigeria. An investment in the real estate industry is a sound investment and will yield rich results.

The real estate industry is growing, and now is the best time to invest in the industry. At Landshop, we have the key to helping you grow your income and attain financial security, speak with our experts today.



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