New trends for 2018 are already beginning to emerge for which investors,developers, brokers and agents will need to keep up with and adjust accordingly. A few of them are as follows.
Every person in the market looking to rent a real estate property expects to find a property that meets his or her needs and preferences. How then can one ensure that a rental real estate property will offer value for money? These are some factors to consider when renting a real estate property.
At what point in life should an individual begin to consider acquiring a land and building his first house? Buying a house, is one of, if not the most significant investment most people make in their lifetimes.
The phrase ‘The sooner the better’ is often being thrown around in a lot of steps we take in our lives. But, this phrase could confuse a potential real estate investor. On one hand, those in their mid-20s to 30s are sometimes encouraged to consider the option to buy a house due to the availability of spare money, while on the other hand, those in late-40s or early-50s consider real estate as a liability of a lifetime.
However, it is wise to recognize where you are in life and you financial capabilities as you decide whether or not to buy.
Real estate tends to lag behind other economic sectors when phenomena such as recessions take place; as such, it may take some time before the proverbial housing bubble bursts. When that happens, buying opportunities tend to emerge.
Few points are listed below to enlighten buyers out there.
Depicted above is a single cycle. The end of the recession phase connects to the beginning of the recovery phase to form the continuous wave pattern. Understanding the progression of each phase within the cycle is critical in being able to identify investment opportunities, as well as risks that can arise, with heightened sensitivity when phases are on the verge of transitioning.
One of the unique aspects of commercial real estate is that investors can invest successfully across all four phases of the cycle. However, understanding whether a cycle is climbing closer to a market peak, or starting down the slippery slope towards a market low can affect a variety of factors, such as:
- Pairing investment strategy to phase
- Holding periods and exit strategies
- Return expectations
- Performance as it relates to income and appreciation
- Timing of capital improvements
For an industry that has literally suffered a period of boom and bust in recent years, the real estate sub sector in the view of bookmakers is about to unravel.
According to the faculty members of the Nigeria Real Estate Investment and Exhibition (NREIE), a think-tank for the real estate market, the sector has enjoyed significant growth over the last decade even amidst the shortcomings of finance, know-how and right operatives. High-rise office buildings are springing up in tens yearly and luxury estates are on the increase in major cities. There is however more to be done, it is believed there is a deficiency of about 17 million houses to serve the populace optimally. Read More
Real estate business might not be very buoyant at the moment. The reasons are not far-fetched; the ongoing economic challenges in the country which has resulted in the fluctuation of naira against other currencies (dollar and pounds) and has made some people to put on hold investment in real estate, while a number of would-be investors have to contend with the task of locating investment opportunities in markets that offer the greatest long term growth and stability, and or investment in other endeavours. Read More
This is a new twist to real estate 419 scams used against unsuspecting real estate agent. In this case, the agent is a high profile, highly professional estate firm.
In the early hours of Tuesday, May 9, 2017 at about 7:17am, this writer received a call from someone who said his name is Gbenro, and that he is very interested to buy our fully furnished 5 bedroom detached duplex at Chevy View Estate, Chevron, Lekki, Lagos going for N88million. He assured during the telephone conversation that if he can view the property, and he likes what he sees, he will like to pay immediately.
With this assurance, we quickly arranged for the immediate inspection of the property at about 10:00am the same day. The current owners/vendors of the property – Mr. & Mrs. Augustine (not their real name, to protect their identity) are still living there; Mr. Augustine has just been transferred to the Abuja branch of his company, hence the need for relocation and sale of the property. Read More
The real estate industry across Nigeria in Q1 of 2016 has performed generally below market expectations. Some attribute this to the prevailing economic conditions in the country especially the continued fall of the Naira against the Dollar, the limitation on access to forex placed by the government and the yet-to-be signed 2016 budget.
In this report, prepared by Residential Actions Company (RAC), the author focused on the Lagos real estate market and put pieces together than can be of great use to the real estate investor.
Download the report here: Spotlight On Lagos Housing Development Market [PDF]
There are a number of luxurious apartments around Lagos, but their prices can be very expensive, far above what most middle class can afford. The property location is also important. Richards Court, a new development in Mende Maryland, Lagos, however, is an exception. It is a luxurious apartment, located in one of the most developed areas in Lagos and it is quiet affordable.
Developed by Richards Brainsworth Limited, one of the most prolific developers in Lagos. Richards Court is a fantastic and competitive piece of modern building. It is a gated and fully-serviced residential estate with all the features and amenities you would expect from a standard estate. Read More