Real estate investment is the best– Stakeholders

CHINWE AGBEZE,

Most people are not able to succinctly define real estate as an investment. The few who do, accept it as an investment only in the long term without any real short term benefits or returns. Surprisingly even those well placed in the corporate world running the Nigerian economy have not appreciated the real estate sector as a core area of investment.

Real estate plays a key role in the evolution of man. It is not a coincidence that food, shelter and clothing believed to be the three essentials that sustain mankind, also have some linkage to land. Food grows out of land while shelter is affixed to it, and man’s clothing is made largely from what grows out of land.

A whole lot of people are shying away from real estate investment because of the high cost of properties but some have found many lucrative ways to deal in property and invest in the real estate market.

Barr Ezeaputa of Mandela Chambers has no doubt that investing in the real estate market is one of the most effective tools for wealth creation. “A substantial proportion of the world’s wealthiest people have had real estate playing crucial part in the accumulation of their fortune. Those whose desire it is to build their financial capacity and become financially free as well as successful are interested in the real estate market.

“Looking at the slow recovery experienced in the financial market after the last global financial crisis, real estate is the safest investment in Nigeria for one to put his hard earned money Most people who bought several hectares of lands at the price of N100, 000 several years ago are swimming in the pool of money now and they are still investing”

Legal practitioner turned Property Consultant; Stella Adegboyega argues that real estate investment is the safest been the only business that appreciates with minimal efforts adding that there’s enormous wealth buried in the housing sector, a lot of which she says is still untapped.

“The only business in Nigeria that is truly lucrative to the highest point is the real estate business and its market because it’s a money spinner of the highest order. Many of Nigeria’s billionaires are real estate investors and the good thing about real estate market is that the investment opportunities are so diverse that there seems to be something for anyone who wishes to invest whether he has thousands or billions of naira. A lot of people seeking financial freedom in Nigeria are oblivious of this fact while others that know think only of the disadvantages”

According to a property consultant, Mr. Sunny Ogbeh, there’s no better place to invest than in property business which has continued to grow despite the slow growth in the Nigerian financial market as those who dared to invest are smiling widely to the bank.

“I have so many clients that invested as low as N250, 000 to acquire a piece of land few years ago and same land has run into millions presently. Some people are scared of investing in Real Estate because they lack ideas needed for the business.  No matter how bad things get, the real estate industry will not be shaken”

A landlord in Mafuloku area of Lagos state, Mr. Stephen Ajayi who is till date a huge investor in real estate says with a business like this, one can afford to retire early without much worry adding that one does not require so much money as many think.

“When people say they don’t have money to start real estate business, I get confused. They fail to realize all they need to have is the ability to project into the future and that is what I’ve always done. Those areas like Mowe, Ibafo, and Ikorodu that people often reject will become hot cakes tomorrow so those who are buying cheap lands there now aren’t fools; they know exactly what they are doing and you’ll find them quitting their jobs early to rest”

Whether in ancient times or in this modern system, land constitutes a significant index for man’s wealth and stakeholders in the industry continue to hope that more people will in no distant time find the real estate market a worthy place to invest.