- Financial security: Despite the covid-19 pandemic which affects many investments in Nigeria, the only investment that is not affected is real estate because it’s not volatile. Despite the risk attached to forex, stocks, and other investment, real estate investment differs. Although, while other investments bring growth quickly in terms of its returns real estate investment growth is not quick. The good thing about real estate investment is just that you don’t have to worry about losing your investment overnight.
- A source for passive income: Real estate investment in Nigeria has served as a source to generate passive income. You can put out a house or land for rent.
- Appreciation: Real estate appreciates over time. A land you buy for 300,000 today can be worth 3 million in two years. This is why location plays an important role when investing in real estate in Nigeria.
- Asset for collateral: With your real estate investment, you can get a loan from banks to execute a project.
- It guarantees financial stability: With the economic downfall in Nigeria during the covid-19. Real estate investment can serve as an avenue to generate income which can make you financially stable.
- Real estate can be enhanced: Real estate or property can be improved in order to increase its market value. In what sense? You can make a few improvements to a property in order to increase its value. For instance, A 2 storey building with a good foundation can be improved to 3-4 storeys. Or by changing the property to a smart home.
