Is it safe to invest in Nigeria?

Discussion in 'Africa Property' started by totallyproperty, Nov 26, 2014.

  1. totallyproperty

    totallyproperty Administrator Staff Member

    The vast majority of real estate investors will at some stage have looked at Africa and perhaps even the Nigerian real estate market. It is unfortunate that Nigeria is often seen as the "scam centre of the world" something which tends to take away any focus from legitimate and attractive investments in the country.

    Do you have any experience of buying and selling real estate in Nigeria? Is it safe to invest in Nigerian property?
     
  2. turawafetty

    turawafetty New Member

    Nigeria property market is the number one property market in Africa, Lagos Nigeria, most especially the island is the most expensive property market given its unique features, most apartments on the island particularly Ikoyi and Victoria Island property are rented using US dollars.

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  3. diyhelp

    diyhelp Active Member

    So long as you are careful and go into these property markets with your eyes open then there is potential to make good money. Nigeria does have a terrible reputation for fraud and scams but on the other hand I am sure I read somewhere that it is one of the fastest growing African countries.
     
  4. turawafetty

    turawafetty New Member

    Your are right but the government of Lagos state here in Nigeria has a comprehensive data base of owners of lands in the States and the type of title document the owner has, all you need to do is conduct a search on the property from the state land ministry before buying any property, lot of investment opportunity is available in the state. I'm a real estate agent here in Lagos, I specialized on properties on the island, I also sales properties for banks too.

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  5. Rinsee

    Rinsee New Member

    Contrary to what turawafetty says, actually I think Abuja properties are more expensive than Lagos as a whole (Some may even say overpriced but that’s real estate for you).

    When It comes to real estate investment in Nigeria, I also think that the Abuja property market is better than the Lagos one. Mainly this is due to the fact that Abuja is such a fast growing city, the rate of growth in the last 10-15 years has been huge. Prices just keep going up and up because of demand. If you buy land or invest in constructing estates in the Abuja phase 3 and 4 areas you are 99% certain to make money because people keep trooping into the city
     
  6. FWL

    FWL Member

    I read somewhere that Nigeria has one of the fastes growing economies in Africa - is this correct?
     
  7. Longterminvestor

    Longterminvestor Administrator

    It is unfortunate but the reputation of Nigeria in years gone by has overshadowed the really good prospects in the short, medium and longer term. As one of Africa’s fastest-growing economies it is scandalous that the authorities have done nothing to try and repair the reputational damage.
     
  8. Rinsee

    Rinsee New Member

    It was one of the fastest. It has slowed considerably since 2015. But Abuja and Lagos are still booming somewhat.
     
  9. Rinsee

    Rinsee New Member

    Yeah Nigeria has a HUGE image problem. Not just in Africa, but globally. This has deterred a lot of potential investment. Not much positive is associated with Nigeria except when it comes to music.
     
  10. Longterminvestor

    Longterminvestor Administrator

    The problem with Nigeria’s reputation is that it still continues to this day. Until the authorities are able to stamp out the amount of fraud which allegedly starts in Nigeria it is difficult to see widespread investment in Nigerian property.
     
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