REAL ESTATE STREAM: ABUJA: A city to invest in Real Estate in Nigeria

Abuja is the capital city of Nigeria and also the country's political and administrative capital. The city is more profitable to invest in real estate when the right plan, decision and strategy is adopted and

implemented in line with the master plan of the city in terms of urban and infrastructural development like good road networks, housing development, security, water and electricity supply that enhances economic and business activities resulting to increase in population of about 3 million people that comprises of politicians, business men and women, business and real estate investors, public servants and students.

The terrain of the city is somehow comprising of hills and mountains in nature which could pull challenges to development yet proper strategy and plan are been carried out to execute long term projects like real estate development and road construction developments.

The city of Abuja is beautiful as haphazard developments are been controlled by the urban planners to ensure the type of building that are erected.

Now looking at her property market, private real estate developers, investors and professionals are doing well and benefitting from property rent and sales. Although this depends on the areas that is considered. Areas that more likely yo be outskirt of Abuja (Suburb) which to an extent close to nasarawa state have average rent on developed properties. Areas within the metropolis like Garki , Maitaima, Gwarimpa, and Asokoro usually have high rent on developed properties. But this developed properties usually have standard in architectural design and taste that show values to those willing to pay for it.

For instance, a self contain room can go for #350,000 in areas like Asokoro, and Orozo. But areas like Gwarimpa, Garki with same property can go for #500,000. The same goes for properties that are for sale of which in some area the least for a duplex can be #75 million and above.

So the market is high and competitive as many real estate developers, investors and construction companies are diving in and making it big to ensure supply of housing to the ever increasing number of property buyers and tenants in demand for it.

One of the sweetest thing in relation to accommodation in the city is that there are developed and developing housing estate that suit people depending on their level of income. So the choice in choosing where to stay in Abuja depend on your pocket and ability to pay at ease.

REASONS TO INVEST IN REAL ESTATE IN ABUJA.

There are some basic reasons that shows why one should invest in Abuja of which some of us would have in some point come accross this. Well this will give you more insight to what you already know about investing in real estate in Abuja.

There is appreciation in property value ( this include rental and capital value). And this makes the Abuja property market to expand and become bigger than expected and in comparison with other property market in Nigeria.

The city is expanding in terms of real estate development to cover neighbouring states like Nassarawa. And as this continues, getting properties to buy or rent would be easier and cheap in the Abuja suburb but expensive within the metropolis. So your choice of where to carry out your real estate development project will depend on this if you at looking at profit maximization.

Prestige purpose and social status. The calibar of people in Abuja are basically politicians and private business owners and investors with high jonses, lifestyle and taste which are based on their social status and prestige. So no matter the worth of property if it suit the taste and standard required of the buyer. They are ready and willing to pay for it. So you stand a chance to make high profit from your investment.

Increase in Economic and Business Activities will always bring high demand for more properties in the future.

Investing in real estate in abuja can ensure profit maximization when carried out in the right way but ensure to take due diligence especially if you don't have much knowledge about the market to avoid being a victim to fraudsters.

So be sure that you conduct a personal research to know more about the market and or consult a real estate professional before diving in to invest.

Although when looking at where to invest in real estate in Nigeria, dont consider only Abuja because there are other cities that her property market is equally big,fast growing,comparable and competitive beyond expectaion and ensure profit maximization fron investors. Cities like Lagos, Port Harcourt, Enugu, Owerri and Onitsha can also be considered to invest in real estate in Nigeria.

We hope you have gain some knowledge from this article.

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