What is the best real estate investing strategy in Lagos Nigeria?
Nigerian property analysis Data shows that the best property investment strategy is a strategy that combines both long-term investing and short-term investing.
Ikoyi, the most affluent neighborhood of Lagos, registered the highest year on year house price growth of 20% in May 2019, followed by Ibeju Lekki, with an annual price increase of 12%, based on figures.
• Lagos is the most expensive city in Africa.
In Ikoyi, the average price of three-bedroom apartments was NGN 140 million (US$388,906) in H2 2018 while five-bedroom apartments are sold for an average price of NGN 350 million (US$972,266).
• House prices in Lekki, Ajah, Gbagada, Surulere, and Yaba were largely steady.
• Nigeria’s’ property market is becoming more sophisticated with prime grade developments seen in the commercial and retail sectors.
• The recent Nigeria Economic Report released by the World Bank shows that real estate is the third-largest contributor to GDP growth at 11%.
The housing market will continue to stabilize this year, with house prices and residential rents expected to either remain stable or rise modestly this year, according to local property experts.
Contact wwww.mercy-homes.com now to have complete guidelines for real estate investment in Nigeria:
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