The Reason for the rise in Property Investment in Nigeria even with the Poor Economy
The idea is to have an investment that never depreciates in value
What’s the reason for the rise in Property investment in Nigeria even with the poor economy?
It may come as a shock to some that even with the chants of poor economy, there are some people actively spending in Nigeria and spending big. Or that even with the poor state of businesses, there are some investments that keep on appreciating compared to others.
Some might term it luck or grace, but it falls down on the fact that there are some things people cannot do without. And what is that?
Land-land-land. Everyone needs a landed property before undertaking any investment whether large scale or small scale.
Landed property investments according to some researches, have generated more money that is greater than what the government generates from crude oil. And this is due to the fact that both Nigeria based citizens and Nigerians in diaspora are investing in landed property as it is a basic need by the people.
With people ready to buy land more than Nigeria gets to sell its crude oil to buyers, it is hardly any coincidence to see how this has come to be.
It is also worth noting that the corrupt elements within the country has provided land property investment to become some sort of haven as it is easier to maintain considering it is non-volatile or seasonal. It appreciates with time, and could ultimately result in added profit as time goes on, compared to other investments that may for instance attract attention or look fishy.
It’s no hidden fact that as people continue to increase in population, so would the need or demand for land, so instinctively, property investment follows the principle of demand and supply. Everyone would want to own a property or a piece of land the more the population rises.
Although, investing in land property comes with a catch as certain factors need to be considered prior to making investments, such as reaching out to the experts like the estate surveyors and valuators to understand the investment analysis.
People need to consider what the forecasters say about the property at a specific time period before making decisions that would be backed by informed knowledge.