Real Estate And Development In Nigeria

Real Estate

Real estate development in Nigeria is a very rapid development. Real estate develop so rapidly because people tends to invest in real estate as it now the new oil money Nigerians lay their hands on. You know here in Nigeria, if a business is booming and people see how profitable it is, many millionaires will rush into such businesses. Even some Nigerians that are millionaires but have access to credible loans can take a huge loan to invest in real estate.

Reasons why real estate in nigeria is developing is as a result of Nigerians population that is increasing rapidly. According to census 5-6years back, the Nigeria population is about 180 million. But right now Nigeria population is more than 200million. And apart from the population, we all attend weddings this days as their is no Saturday that their won't be wedding, wedding is all over the places, meanwhile newly wedded couple will want to stay alone and stay away from their parents. They will also tends to have their own property, nearby in one way or the other having the need of real estate, either by leasing or by getting their own landed property.

Can you now see why real estate developed so fast in nigeria and its still developing. Though research reveal to us that real estate business is not even capable to satisfy some state like lagos, ibadan, port Harcourt and so on like that, as they have higher population than other state. This mentioned stated are major cities in Nigeria where many people buy and sell and their is tendency of making sales. Therefore more nigerians tend to stay and reside in this states thereby increasing the population of the city almost everyday.

The future of real estate is a promising one as it has not even satisfy some major city property needs. However government on the other hand are aware of the growth of real estate in nigeria, they also get involved by giving a very less or no interest house or landed properth loans to their workers. At some point government will even build house and give to their workers at a very cheaper rate just for them to also benefit from the real estate development. On the government part, their involvement has really helped the development of real estate to develop more rapidly. It also encourage investors to also rely on real estate business.

Have you seen things like , rent a house , buy 6plot of land and get one free, come and buy a land and pay installmentally, I hope you must be tired of seeing this type of advert all around you. And I know Many Nigerians will want to know how real estate investors and real estate agent make their money even after dashing out some portion of their property when you buy in bulk. Well I can say that is to show you real estate business is really booming, developing and profitable. I want you to know, no one will invest on a business that is not profitable. For instance if someone can give you a plot of land for free for buying 6 plot from them, know that the agent or the investor has made more money from the ones you bought. Thats is how it works, just do your research on how to go about real estate and start making more money from real estate.

Now, let me list out some tangible reasons why real estate is developing in Nigeria. Here are 5 major reasons why real estate is developing rapidly in nigeria.

1. Government encourage and support real estate

2. More wealthy Nigerians are investing in Real estate.

3. Real estate is yet to satisfy the needs of some states in Nigeria.

4. Real estate business improves Nigeria economy.

5. Its a long term profitable business.

Now let's get down to this highlighted point listed up their. Continue reading for better explanation.

1. Government support and encouraged real estate.

As I have said earlier, government are in support of real estate business. The have made laws that enencouraged the real estate development to be rapid. Their effort also have go a long way in real estate development. For instance offering property loans to their workers is another form of encouraging real estate development in Nigeria. They really give their full backing to real estate  business because most government officials and politician have also invested huge amount into real estate because of its profitability, therefore they will ultimately support the real estate development.

2. More Wealthy Nigerians are investing in real estate.

What I also noticed is more wealthy and rich Nigerians are massively investing in real estate. You will see some rich people building estate that contains like 50-100 houses, you will see some wealthy people buying thousands of acres of land at a very lesser price and reselling it for Nigerians plot by plot at a huge price. The more wealthy Nigerians invest in real estate, the rapid the development in Nigeria.

3. Real estate is yet to satisfy the needs of some states in Nigeria.

Like have earlier wrote, real estate has not yet satisfy the needs of some state like lagos, ibadan, Jos and the likes. What we mean by needs of some states is people shelter. Many people relocating to this state needs a house to stay, needs shelter. And many peolw relocate to this state because this are the state that they can make more profit and that have better jobs in Nigeria. So many people tends to migrate to those states everyday. The beauty of real estate is that in this mentioned states, there will be need for real estate development.

4. Real estate Improves Nigeria economy.

We are all aware that government will only support a business that is profitable and improves the life of the citizens as a whole. And as we all know most government officials are into real estate there by developing and improving the economy of the country as a whole.

5. Its a long term profitable business

Real estate develops so quick in Nigeria because its a profit that has a long term effect to generations to come.

In conclusion, we all can see why real estate develops so rapidly in Nigeria.

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