QUESTIONS PEOPLE ASK ABOUT INVESTING IN REAL ESTATE IN NIGERIA
AL ESTATE PROFITABLE IN NIGERIA?
Aside from tech, which is now a valuable way to earn dollars, real estate is a very profitable business in Nigeria. Compared to other parts of the economy, real estate has been going up, which has made locals, foreigners, the government, and expats want to put money into it. Even though there aren’t enough people or places to live, the industry is still growing quickly.
WHERE SHOULD YOU PUT YOUR MONEY IN NIGERIA?
Some of the best things to buy in Nigeria to invest in are:
- Real Estate Investment
- Health and Wellness
- Agricultural Investments
CAN A PERSON FROM OUTISDE NIGERIA BUY PROPERTY IN NIGERIA?
In a way, yes. No matter where you live or what country you are from, you can get a piece of the real estate pie. All you have to do is:
- Hire a lawyer and give them the power of attorney over your estate so they can buy things for you.
- Ask for the governor’s permission at the land registry for the property you are interested in.
- Form a business in Nigeria and buy as many properties as you can under the name of the business without any restrictions.
HOW MUCH DO HOMES IN NIGERIA COST?
In nominal terms, the Real Estate Services GDP (Gross Domestic Product) went up by 10.84% in the first quarter of 2022. It is 2.79 percentage points higher than the growth rate from the same time in 2021. In 2020, the Nigerian real estate industry’s GDP was 3.96 trillion, which was 9.4% less than the previous year’s 4.37 trillion.