How to Choose the Right Property for Real Estate Investment in Nigeria

Real estate investment is a lucrative venture in Nigeria, that presents a great opportunity for investors due to the ever-growing population and high demand for real estate.

However, choosing the right investment property can be challenging, especially with little or no knowledge.

In this article, GLE Properties would enlighten you on how to consider the best property to invest.

Understanding Real Estate Trends in Nigeria

If your desire is to venture in profitable real estate, you need to understand the current state of the Nigerian real estate market and it’s trends. There’s a high demand for real estate investment in Nigeria, making it a prime location for property investment. It offers various properties, including residential, commercial, and mixed-use properties.

To achieve the best of real estate investment, there are a few factors you need to consider and we will highlight them as we proceed.

Role of Location in Real Estate Investment

Real estate investment in Nigeria, particularly in areas like Lagos, is experiencing high demands. Lagos, a major economic hub, is a prime location for investment increasing urbanisation.

Abuja is another location worthy of note when you hope to be profitable while investing in real estate. With its strategic location, growing infrastructure, and high demand for both residential and commercial properties, the city offers numerous opportunities to achieve significant returns.

Title (Document) as Factor for Potential Real Estate Investor

Before committing to an investment, verify that the property has a proper title and the title is verifiable. A valid title protects the property’s value.

Title document like a deeds of assignment and certificate of occupancy (CofO), confirms the property’s legal status and prevents disputes. A well-documented title also facilitates the purchase and sale process.

How does title make investing in a property right?

  • Property Value: A title document on a property strengthens the buyer’s claim to the property, and also protects their investment while preventing present and future disputes that could decrease the property’s value

  • Clear Description: Documents like deeds of assignments and registered survey accurately describes the property’s boundaries, size, and location making sure it is free from certain claims, protecting your interest legally

  • Proof of Ownership: The title document serves as the primary legal evidence that the seller has the right to transfer ownership of the property to the buyer. When buying a property, you need to sight the documents to avoid getting scammed of your hard earned money.

Investing in Areas with Good Returns on Investment

Some of the most lucrative property investments in Nigeria can be found in emerging cities that are currently under development. These regions offer significant appreciation as new infrastructure and residential projects are completed.

Areas to look out for?

  1. Ibadan is one of the high rising cities in Nigeria with great potential for good returns

  2. Lagos, Ibeju-Lekki is one of the undeniable cities which you must have known of by now

  3. Abuja, this article would not be complete without mentioning this city.

GLE Properties has properties in two of these bubbling cities currently. One of them is Abraham’s Court, Ido in the city of Ibadan and we also have Photizo estate in Epe, Lagos amongst other properties.

Investing early in these cities allows you to capitalize on rising property values.

Conclusion

Real estate investment in Nigeria presents a great opportunity for investors due to the ever-growing population and high demand for real estate. You just need the right knowledge and things to watch out for before putting your money down.

Ensure to find the best emerging locations before investing, also ensure the documents presented to you are intact as this will prevent future disputes that may lead to claims over your property.

Would you like to come for land inspection so as to buy land or house in Epe, Ajah, Lekki, Ibeju-Lekki, Lagos, Ibadan or anywhere in Nigeria? Reach out to Timothy Moyofola on +234 806 400 3456 or send an email to support@godslandempire.com. We are ever ready to assist you on your property ownership journey in Nigeria.