Real estate in Nigeria as an alernative to bank fixed deposit

The Nigeria we woke up to today isnt the Nigeria we knew yesterday and there is no way of telling the state Nigeria will be in tomorrow.

I guess that is what we call change. But is this change positive?

Today, we find that there has been a ban on forex which has devalued the naira. Dollar now trades for N350 to $1. Since nigeria depends heavily on importation, this new development has grinded that industry to a halt because it is now too expensive to import goods. This situation has caused the inflation of goods and services in the market. Today, you buy less with more money in the market than you could buy back in 2014.

Investors are now looking for safe havens where they can put their money so it wont lose its value.
The worst investment to make now is to put your money in the bank in form of a fixed deposit. This is because every monies left in fixed deposit is worth less everyday due to this massive inflation.

A wise investor would seek to invest in real estate because it is the only guaranteed safe haven where you can put your money and be sure that it wont lose value instead the value of your money will appreciate as fast as the prices of goods and services rise in the market due to inflation.

A lot of my clients have pulled out their money from fixed deposit accounts in the banks and have invested it in real estate. This reminds me of what happen during the world financial crisis of 2008 that saw investors pull their money out of crashing financial markets around the world and invested it in gold which is peceived as a more stable commodity.

To buy land in Enugu is a wise investment.

Some People would ask, why buy land in Enugu?

Well, because Enugu is a financial haven for the middle class Nigerian. Land for sale in Enugu is way cheaper then properties for sale in Abuja, Lagos and Port Harcourt etc... Enugu is the only place you can buy a land for N600,000.00 and resell for N1,800,000 in less than 3years.

You dont believe me? Ask around.

The only people who can positively take advantage of this exchange rate situation in Nigeria (from a real estate point of view)are Nigerian living abroard

For example, in 2014, $10,000 equalled N1,600,000 but today, $10,000 is over N3,500,000.

For less than $10,000 down payment and a minimum monthly income of $500, a nigerian working abroad can afford  a 70percent home equity loan spread out over 20years, in order to buy a land and build a 3bedroom bungalow with a 2rooms BQ in Enugu that you can either sell for a mininmum of N18m at the cost of N10m or rent out for a minimum of N700,000 per annum.

In conclusion, I believe that this is the best time to invest in real estate in Nigeria either as a financial safe haven to preserve cash value or in a bid to take advantage of a dismal forex market in Nigeria

Land for sale in Enugu:

Description: an empty parcel of land, surveyed with beacons marking out the boundaries.

Location: independence layout phase 2, directly behind the new building materials market.

Size: 1500m2

Title document:   c of o, land survey plan

Price: N20m, negotiable.

Recommendation: its a bit pricey for an under occupied location but it is a perfect property for a buy and hold investment strategy. I would buy this parcel, fence it and hold on to it for atleast 3 to 7years then resell it for N40m. I am confident It can resell at that price because independence layout is perceived as a prime location in Enugu just like people see Maitama in Abuja and Ikoyi in Lagos, once the phase 2 is resonably occupied, I am sure that it will command a price of N40m. Also, the area is developing at a good pace. Despite the fact that the state government just sited the new building materials market in independence layout phase 2, privately owned low income housing estates are springing up in the area as well. Or, I would also recommend that the buyer build a 10 to 20rooms guest house/motel on this property as an alternative to a buy and hold strategy.

Property 2:

Description: an empty parcel of land with beacons marking the boundaries.

Location: ugwu omo, nkwubo nike. Ajacent to the permanent site of Godfrey Okoye University.

Size: 730m2

Title document: deed of lease, deed of assignment and power of attorney.

Price: N2m, negotiable.

Recommendation: its located in a rural area but the location is quite interesting and has great potentials. That area of Nkwubo nike is home to both caritas university and the permanent site of Godfrey Okoye university currently under construction. It is also home to adoration ground of the adoration ministry run by Reverend Father Mbaka and also home to the upper room ministry. The investment options for this property are limitless. I would buy this land and build a students hostel on it that will cater to students of Godfrey Okoye university or i would buy it, fence it and hold it for 5years then resell it for N10m. I am sure of reselling at that price because the state government is currently embarking on a large scale road construction project in the area and also the permanent site of Godfrey Okoye university that is currently under construction now would be completed before 5years time which will translate to a lot of student activity, traffic and economic activity.

For this and even more affordable properties to buy in Enugu, contact:

Mr Okafor Ugochukwu
07030484315