In Nigeria, there are two main ways to invest in real estate. You can either buy an existing home or land or you can build one from scratch.
This article provides tips for Nigerians who want to invest in real estate within the country as well as foreign investors who want to do business in Nigeria and open a real estate agency or a property management company.
Here are our tips on how to invest in Nigerian real estate effectively:
Location is Everything
No matter what kind of real estate you’re looking for, it’s important to think about where you want to live.
If you’re interested in owning a home near your place of work, choose an area with plenty of economic activity.
Conversely, if you need an affordable place to live but don’t want that location to put a strain on your commute time or budget, look for areas that are not experiencing much growth or development.
You should also consider price when thinking about location; areas with higher housing costs may have better amenities and entertainment options but could be cost-prohibitive depending on your budget.
