2019 has been forecasted to have some investment changes in the real estate market in Nigeria even before the year started. Over the Real estate brokers in Dubai past few years, the real estate market in Nigeria has seen several ups and downs and a good real estate consultant in Nigeria will tell you the changes and investment lessons learned in order to properlyguide your investments.
Down to 2019, there has been a gradual growth in the real estate market especially in the populated city of Lagos. Most real estate investors are making a good return on their investment especially with the help of a property consultant in Lagos. Smart investors are already on the lookout for awesome investment opportunities in the market especially in new developing markets that has a lot of potential for a good return on their investment in the future.
The tides are changing and investments in the real estate market create more profits than it was several years ago and I will be sharing with you the investment analysis of Nigerian real estate market for the year 2019.
Real estate investment will be highly competitive Not every investor has a huge amount of money to invest in a property that is on high demand. The investors that have enormous funds tend to compete amongst each other to get a property that has lots of prospects. Competitive areas like some parts of Lagos cities that are undergoing some major restructuring are seen as highly competitive in 2019. These areas, many years ago were less competitive due to the market trends they faced and that is why a real estate consultant in Nigeria is skilled to know the areas that will be very profitable in many years to come. Investors that may want to take up a loan to invest in real estate property may notice a high cost as the competition increases. When it comes to taking up a loan to invest, a property consultant in Nigeria will always guide you to avoid loopholes you may face.
People will still invest in properties irrespective of the rising mortgage rate Old buyers find it easier to move up the investment ladder than the new buyers but irrespective of the mortgage rates, new buyers will still make an investment move. With a stable economy in place and a decline of house crisis in the real estate market in 2019, there might be a change in the mortgage rates. Increase in the rate of rental properties will not affect tenants’ movement: In Lagos especially, we see the struggle people go through to get a good apartment since they cannot afford to build a home for themselves and as such, the rate increase for rental properties will not affect their movements except otherwise.
The economy will affect properties The influx of new opportunities in the country such as good jobs, industrial developments, infrastructures amongst others may affect the cost of rental properties as well as the high cost of investment on a landed property especially in a populated city as Lagos. We can’t predict how the economy will be in 2019 as well as its fluctuations but you can always seek an investment consultation in Lagos to help you invest right irrespective of how the economy is at the moment.
Smaller investments create faster sales If you go for an investment consultation in Nigeria, you will be advised on creating a niche investment. Smart investors have realised that their return of investment can multiply if they channel their investments into smaller properties for the larger segment of the target market which includes people who often need a small workspace or a small apartment rather than investing into a duplex that could take a longer period of time to close a sale or get a tenant.