Quickly
now,
Have you
ever wondered why recently, there has been a serious increase in the cost of
housing within Lagos state and its neighbouring states, especially how
apartment rents have tripled in the last 10 years, like why is it that way? Is it
because of the exchange rates or economy? Is it due to little to no
regulations? Well the fact is; it was bound to happen, why? Simple and for the lack
of a better phrase, “the World has its eyes on Africa”, and guess what else,
Lagos is unconsciously expected to be the nucleus of what is coming.
Let’s start
by referring to the big apple, talking about the vibrant city of Newyork, a lot
of Africans, particularly Lagosians are yet to come to terms with the fact that
Lagos will be expected to be to the entirety of west Africa, what Newyork is
already to America, talking about the buzzling population and business, in
Newyork, renting an apartment is super expensive, a 2 bedroom apartment goes
for at least a million naira monthly, that’s running into about 12 million
naira annually, for a mere 2 bedroom apartment, and what is worse, Lagos is not
just going to house what Newyork is, but also what the likes of silicon valley
and Las Vegas are to America.
So to
better understand the recent increase in the real estate stakes of Lagos, one
has to first ignore existing political tensions and envision what Lagos is
expected to be, then we start to realize that real estate prices are not high
enough and yet to get somewhere of global standards. Also the more we look at
it, the more we realize that although Lagos according to population is
currently regarded as a city, existing amenities hardly qualify for a township,
and the bitter truth is the level and type of amenities that make up for a city
or metropolis do not come cheap.
What are we
to expect in the coming years you ask? A whole lot really, in the next 15 to 30
years, we expect a ceaseless inflow of both foreign and home grown
multinational companies, a double of the existing population according to
verified statistics, and other developments, also these coming developments
will immediately call for world class amenities and real estate properties,
from offices, to residences and malls, hence why we see an increase in real
estate trade cluster projects, like Eko Atlantic, Ilubirin and the likes.
Finally as
mentioned countless times in previous articles and posts, there has never been
a better time to invest in real estate than now, the real estate sector is
about to enter a brand new phase, and if you think people regretted not
investing in real estate 15 years ago, well I tell you what is about to happen
in the next 20 years will blow your mind. So invest well and invest rightly,
also watch out for our next article, as we will be looking at “HOW NOT TO
INVEST IN REAL ESTATE” ,
discussing errors and mistakes people make in real estate, not all real estate
is profitable as you must have learnt if you have being following our articles.
If you are
in need of help or want to make inquiries, feel free to send a direct message,
email or put a call through using the cell digits provided, and you will get
direct access to one of our professional consultants.
Thanks for
reading
Do have an
awesome day.
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