kossyablaze:
No celebrity house in Nigeria can surpass dat of P SQUARE buh I knw some people will be pained cuz dey hate seeing peeps outside thr tribe progress....#SayNoToTribalism!......we all av our goods/bads as well!

NaLaugh:


It's an investment into adequate shelter guarantee. Many people live "on the go" when they're making money.
e.g renting a mansion, rather than buying or building, leasing a luxury car, rather than buying etc.
Typically, "life for rent" type celebs end up with nothing when the source of their income dries out. With sports & entertainment that happens quite often.
Out here, owning a house has permanent expenses (property tax, mandatory home insurance etc) even after paying off your mortgage.
However, since these things don't necessarily apply in Nigeria, when one builds/buys a home, they have invested in an asset that would only appreciate with time. Out here, a fully paid home can become a major liability if you loose your income.

samyomz:
you're just plain stupid!

kossyablaze:
u re an animal.Get lost!

kingsolex:
lols Bros easy abeg.

kossyablaze:
some guys sabi vex person.

moshino:


Buying a RESIDENTIAL home (house where you'll live) is not an INVESTMENT, at best, it's asset preservation. Also, buying your home at the peak of the real estate market cycle is a waste of money. Prices of real estate in Nigeria has been driven by corruption and criminality since 1999, and not by any robust economic growth, all that is changing now with the coming on board of a new government and collapse of oil prices. The effects are very evident in the stagnant and downward spiral of prices of real estate (the gravy train is gone). And the only way a home buyer will see any money from the house is to sell the house, and it could be at a loss, and the person will still need a place to live. When people are thinking of INVESTING their money, they're looking for assets that will give them a recurring return withing a year, buying a home where you'll live does not do that.

kingsolex:


its the Nigerian thing my brother they can turn the anger within into a raincoat best ignore em.

NaLaugh:


Very true. However, as I pointed out, the "investment" here isn't really in the traditional sense of looking onward to a defined periodical ROI.
It's more of a social investment. An investment in their future well-being, as shelter is a basic human necessity.

That said, you've made great points, as[b] I sometimes see price tags of real estate in Nigeria online, and can't wrap my head around what the heck those figures are based off of.

2princeofficial:
By God's grace we will get there too....not just us but also anyone reading this.

kossyablaze:
No celebrity house in Nigeria can surpass dat of P SQUARE buh [s] I knw some people will be pained cuz dey hate seeing peeps outside thr tribe progress [/s] ....#SayNoToTribalism!......we all av our goods/bads as well!

moshino:


Those prices are purely based on corruption and criminality nothing more. Corrupt politicians and their criminal accomplices were buying real estate at any price to hide their ill-gotten money, and a lot of those houses are unoccupied, lying fallow. Right now there's a mad, desperate rush to sell off those properties. Some of them will be out-rightly abandoned ones PMB starts his proposed verification of ownership with the new incoming FCT Minister, so bros, if you have spare cash, be ready to pick up those properties for pennies on the dollar. For instance, I know of an empty land in Asokoro that was previously advertised for #250m before PMB, right now the sales pitch for that same land is "Distress Sale, #140m, asking"! Which means the owner could even accept less, if you come with cash, no stories. I foresee a continuation of this trend very soon.

JAZES:

bros na inside the house dey there o, i no talk say na dem get d building o.......

moshino:


How is their residential house an INVESTMENT?

kossyablaze:
u re an animal.Get lost!

Bollinger:


Because property will always hold it's value and more often than not appreciate in said value. You buy a brand new car and immediately you drive it out of the lot you've lost 20% of it's value. It's not the same with property. The only variable that most people don't understand is time.

kossyablaze:
No celebrity house in Nigeria can surpass dat of P SQUARE buh I knw some people will be pained cuz dey hate seeing peeps outside thr tribe progress....#SayNoToTribalism!......we all av our goods/bads as well!

moshino:


Those prices are purely based on corruption and criminality nothing more. Corrupt politicians and their criminal accomplices were buying real estate at any price to hide their ill-gotten money, and a lot of those houses are unoccupied, lying fallow. Right now there's a mad, desperate rush to sell off those properties. Some of them will be out-rightly abandoned ones PMB starts his proposed verification of ownership with the new incoming FCT Minister, so bros, if you have spare cash, be ready to pick up those properties for pennies on the dollar. For instance, I know of an empty land in Asokoro that was previously advertised for #250m before PMB, right now the sales pitch for that same land is "Distress Sale, #140m, asking"! Which means the owner could even accept less, if you come with cash, no stories. I foresee a continuation of this trend very soon.

Bollinger:


Because property will always hold it's value and more often than not appreciate in said value. You buy a brand new car and immediately you drive it out of the lot you've lost 20% of it's value. It's not the same with property. The only variable that most people don't understand is time.

Tinyemeka:


Why would you wanna spend N140m on a property that would eventually be deemed to have been acquired fraudulently and confiscated?

Is that wise?

2princeofficial:
By God's grace we will get there too....not just us but also anyone reading this.

Chukzyfcb:


I want to correct your thinking that says property will always hold its value. This is not always true, if disasters like flood or war hapen, the value will fall drastically. Take for instance houses @ borno or bauchi where boko haram is feasting, their values have depreciated so badly. Moreover a house where you'll live in cannot necesary be called an Investment, because you will keep spending to maintain the house, which means it will take money out of your pocket which turns it to a LIABILITY to an INVESTOR. #Robert kiyosaki inspired

moshino:


[b]Properties do not ALWAYS hold their values, research the global trend of real estate markets, and your premise will be debunked in 5 seconds. And purchasing your personal residential home is asset preservation, and perhaps a personal accomplishment, if you're so inclined, but it does not yield any return back to you in the short, medium term. If you factor in the opportunity cost of spending a huge amount on your personal home as an investment, and the risk factor (considering market, economic down turns and cycles), then a simple sensitivity analysis will clarify to you that you have not invested wisely. And for the sake of clarity, even if the value of your home appreciates over time, and you decide to sell it, you'll still need to buy another home in that same peak market, again, consider the opportunity cost of that your initial cash outlay for the purchase. Then again, Knowledge is the core difference between 'Rich Dad, Poor Dad'. So you can assume whatever you wish, and do whatever you wish with your cash.[/b]

moshino:


My brother, our polithiefcians were spending Billions of our Naira without even pricing the properties, the stolen cash was driving them nuts, so common sense was non-existent. And you're correct, with the #140m for just empty plot of land, one can buy a good house in most advanced countries, US, UK, Canada etc. I purchased a 4Br/3.5Ba house in a prime area of TX 10yrs ago for less than $500k, so go figure.

iamord:


Lies! This is a mansion in ikoyi. It's the owner of fcmb bank that owns it