Saturday, August 13, 2011
Lagos Nigeria Real Estate Investment Opportunities
In Lagos Nigeria there are so many opportunities invest and make lots of money from the Nigerian real estate market. These opportunities exist because Lagos Nigeria is currently experiencing a major population growth rate and at the same time is attracting a lot of foreign direct investments that seizing an opportunity invest especially now that the cost of doing so is fairly low compared to what it will become in a few years time.
1. Student Hostels
One of the challenges of Nigerian Universities and polytechnics having sufficient accommodation for the student population, but this also presents an opportunity to construct off campus student hostel accommodation since student hostels within university campuses are usually congested and not in the best of shapes to be called befitting places of abode. As a result, this situation presents a suitable investment opportunity for willing real estate investors.
2. One room Apartment Building
Poor families and low income earners also present an interesting and rewarding investment opportunity for real estate investors in that there is the opportunity to construct large single room apartment buildings specifically meant for people of meager means. The apartment buildings are called face me I face you because each room is directly opposite another room occupied by another tenant.
3. One Bed room or Self Contained Apartment Buildings
Educated single young men and women having suitable employment with a slightly higher incomes usually want to have a certain amount of exclusivity that face me I face you apartments don’t offer and that is in self-contained or one bedroom flats which are apartments with a living room, a bedroom, one toilet and bathroom as well as kitchen. A whole apartment building consisting of up to 12 or more of these flats can serve as a profitable medium term investment.
4. 2 or 3 Bedroom Apartment Buildings
Young educated couples with an income that can be classified as middle class usually want to have exclusivity and more space which self contained apartments don’t offer. So they usually settle for 2 or 3 bedroom flats.
Bungalows are single floor houses consisting of usually 3 or 4 bedrooms, a kitchen and one or more bathrooms and toilet depending on investors’ resources and renters taste. These kinds of apartments are usually suitable for higher middle class folks - people whose means are close to those of the rich. Bungalows are more exclusive than apartment buildings because they offer greater privacy living space and convenience.
6. Duplex Apartments
The duplex apartments are two floors or single storey buildings - as they are known in Nigeria - are dedicated to just one occupant at a time. Typically these apartments offer the convenience of having an exclusive compound for parking cars or gardening and playground for children. Duplexes are suitable for the rich.
7. Luxury Apartments
These are apartments typically reserved for the super rich people with high tastes. People who want luxury and exclusivity at the same time and more often than not they are either expatriates working for a short time in Lagos Nigeria or filthy Nigerians who have lived abroad for a long time. These apartments usually have everything in place even before the renter pays for them. All that is left after paying the rent is to move in and every other thing has been taken care of.