A tale of two cities
Nigeria has the largest population on the African continent with over 170 million making it the most populous black nation in the world. It’s reported that in one out of every five black people in the world is a Nigerian.
With Lagos termed ‘the centre of excellence’ and the heart beat of the country; you may be surprised to know that just as the whole world moves to New York, many Africans from all over the continent come to Lagos for a better life.
While the population of New York hovers around 8.4 million, that of Lagos metropolitan area is 20 million and is estimated to reach 27 million by the year 2020 and 42 million by the year 2030…
With such estimates on population growth in this little city of ours, which sits on a land area of just 999 square kilometers, real estate investments are the way to go – Any smart investor would know this…
Culled from: https://www.darjeelin.com
The average Nigerian would without a doubt, pick a big house over an apartment if the opportunity arose. for us our mantra is most times – many bedrooms, a large kitchen, a car park that takes 6 cars, multiple bathrooms and living area, just name it. For most of us the mantra “the bigger the better” always holds sway.
However, large homes also come with a huge maintenance cost; especially in a region like ours where infrastructure isn’t as developed as we would like it to be.
Even seasoned realtors will tell you that in this part of the world, large residents are a difficult sell as well as difficult to will to more than one beneficiary.
all hope isn’t lost though.
It’s best to construct or buy houses that can easily be redesigned and reconfigured into smaller units or apartments especially when the kids have left home and there’s no need paying so much to maintain an empty house, or if at some point the owner needs to raise extra income, he could consider leasing out one of the sub units of the whole.
Thinking about it, you could actually eat your cake and have it with this one…