As the need to invest grows out of the necessity to earn extra income or save for the “rainy” day ahead, only few investment opportunities can boast of returning investors funds within a short time frame.
The real estate sector has been tipped as one of the country’s most rewarding investment opportunity due to a visible shortfall of housing needs in the country as both empty plots of land or already built residential apartments command huge returns for property owners.
At the Lagos property market, it is a win-win situation for savvy investors who either acquire plots of land or buy properties with the aim of renting or re-selling in future as values has remained constantly on the upward trend.
Leveraging on the growing middle class, developers have further lightened the daunting task of coughing out finance by investors into the rewarding sector by providing several payment plans for either empty plots or on-going residential developments to attract investors into the thriving sector.
For instance, along the Lekki-Epe axis, which has been tipped as one the most rewarding market in West Africa exists several upcoming real estate developments with the ability to return investment with significant profit in the near future.
At the mainland, the sector also holds a positive outlook as developers woo for investors to the Agbara-Igbesa axis; a sleepy town bordered by Lagos and Ogun state with plots currently selling between N750,000 to N1.2 million with a possible 50 percent increment in two years or even less due to the on-going expansion of the Lagos-Badagry expressway.
The sector’s growth also extends to the reserved residential areas such as Ikeja Government Residential Area (GRA) where property prices have been spiked by a surging demand for office spaces.
Just like every sector with its peculiar challenges, the real estate sector is not exempted but a major attraction for every investor is the inability of price to crash below its cost price.
By: ODINAKA MBONU
