12th September, 2022
2 minutes, 43 seconds read
As we all know, real estate has been a very viable sector in Nigeria for some years now, who would have thought this will be possible in a country that has always focused on oil and gas for wealth creation for decades. Fortunately, the narrative has changed, thanks to technology and real estate.
According to one of our most recent data published on www.buyletlive.com statistics shows that price volatility in the Nigerian real estate market is due to the overwhelming demand and supply imbalance, especially in Lagos. What this tells us is that there is an abundance of opportunities in the Nigerian real estate market for those who are willing to invest because there is an obvious need for properties which seems to continually grow. With around a million people coming into Lagos on a daily basis (according to Lagos State Government Data Base) for both commercial and other purposes, the demand for land, accommodation and office spaces is always on the high side, this is where we see an opportunity for investment to solve a rising challenge and put some money in your pocket.
While only a few developers and real estate companies can solely build structures on their own, there are many other realtors and developers who are willing and open to take your money to put up structures while you get ROI over time. Due to the exponential success recorded in the Nigerian real estate space in the last decade, returns are certain to be very reasonable, unlike uncertainties that investment in financial instruments present.
Now, the next question would be how do you invest as a ‘small’ income earner? My 13th month? Why invest your 13th month salary? Isn’t this salary supposed to be for some extra enjoyment during the Christmas and new year season? Shouldn’t you save this money ahead of a very long January? Yes, these are all valid questions, but which would you prefer, saving up your money to spend on things that have no value later on or investing it and getting almost double of it or even double in the future? The later seems like a much better choice. Whilst not every employer pays the popular 13th month salary, a reasonable number still do and if you happen to be amongst the fortunate employees, you should take advantage of this idea of investing that money into real estate. From some research we made, it was discovered that real estate companies usually create discounted juicy investment opportunities during the Christmas season, as a form of market strategy to get more people into the real estate space, while this is good business for them it is also very rewarding for an investor on the long run.
Generally, cost of living is assumed to be on the high side during the Christmas season, and there is always an unspoken rule and pressure to spend hugely and celebrate the season, it is usually a period when most families get the time to see one another after so many years, there is usually a higher number of flights tickets sales during this period, however, whilst all these things counts as good memories, you must remember that there is life after the celebration and an opportunity to expand wealth must not be thrown out the window.
So, whether your 13th month salary is 100%, 50% or less of your salary, you must start considering investing it in real estate this year. Remember, you have just three months before December 2022, we trust you to make the wise decision and earn a big smile in the future.
For further help on how to go about real estate investment, you can send us a mail at info@buyletlive.com and we will be willing to help.