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Frequently asked questions
Which are the best cities to buy property in Nigeria?
Nigerian cities are fast developing and are good options for real estate investment. However, popular Nigerian cities such as Abuja, Lagos, Port Harcourt, etc., are the best choices for real estate and property investment in Nigeria; these cities have some of the best infrastructure and amenities, active commercial activities, and are relatively safe for local and foreign residents.
The Return on Investment (ROI) for rental and resell properties in these cities is relatively high with a very short yield period.
Real estate investments has proven and remains one of the most reliable investment options in Nigeria- don’t be left out.Can a foreigner buy a property in Nigeria?
Foreign individuals and entities can buy and own multiple properties in Nigeria through leasehold. The lease agreement ensures that the buyer is issued with a title of Certificate of Occupancy from the relevant governing body of the state he or she is buying the property. The duration of leasehold agreements varies between different states but is often for a long term such as 99 years.
What are the best locations to buy a house in Abuja
Most locations within Abuja are good to buy a house or land depending on your budget and preferences. As with all cities, Abuja has very developed areas, developed areas, developing areas, satellite towns, and yet to be developed areas, and the aforementioned fact influences the prices of properties in each area.
The very developed areas are Maitama, Asokoro, Wuse 2. These areas boost of state of the art infrastructure, amenities and are home to some of the wealthiest people in Nigeria. The prices of properties in these areas range from ₦300,000,000 up to ₦5,000,000,000 depending on the type of property you’re buying.
The developed areas can be classified as Jabi , Utako, Wuse zones, Garki, Apo, Wuye, Guzape, Katampe extension, Gwarinpa, etc. The developed areas are good residential areas with good infrastructure, amenities and security. The prices of properties in these areas are a bit moderate and ranges from ₦100,000,000 up to ₦1,500,000,000 depending on the property type.
While the developing areas can be categorized as Idu, Jahi, Katampe, Dakibiyu, Dape, Kaura, Asokoro extension, Apo resettlement, Gaduwa, etc. These areas above are also good residential areas with the various infrastructure development levels above 50%. The prices of properties in these areas range from ₦60,000,000 up to ₦1,000,000,000 depending on the type of property you’re buying.
The satellite towns in Abuja include Bwari, Kubwa, Karshi, Kusaki Yanga, Kuje, Dobi, Anagada.Is Nigeria real estate market profitable?
Yes, the Nigerian real estate market is profitable and offers lucrative opportunities to investors for both short term and long term investments. Some of the best approaches in ensuring that you reap from the Nigerian real estate market is by buying distress properties and reselling, buying new developments at off-plan stages and selling when the projects are completed, buying properties in developing areas in order to resell when the areas become developed, buying lands or entering Joint Venture agreement with land owners to build houses and sell, running serviced apartments, etc.