Fhemmmy:

There is need for more information from Oga Spyder first

Good talk , lets wait with our hands crossed and see what he have for us

Spyder thanks for the posts

Out of interest, how much do you think it would cost to build a set of 6 flats (3 on each side) with 3 bedrooms each in Enugu and how much rent would one expect in Enugu as well.


Thanks

Arctic

Thumbs up to spyderma.But my issue with nigerian buildings is just the lack of innovative architecture.Must we continue to build 3 storey buildings which are so similar? you can tell how a building will turn out from the foundation (ok,thats extreme!).Also,if you are targeting the middle class and lower income earners in large numbers,think apartment housing.Land is a scarce resource thats getting scarcer by the day.A survey company predicts that by 2020,nigeria's explosion will explode to about 250 million,almost double current figures.If we build bungalows all over the country,where wud we plant crops? We've got to find ways to utilize space and land.My advice for property investment is muiti-tenanted ppties. And by that i don't mean block of 6 flats.Am talking 1004 type of houses.Technology is progressing day.There are better ways to manage tenants in multi-tenanted apartments,to keep the peace and the spirit of community.Asian countries are 10 times our size.Yet the common man has a roof over his head because most of their housing are apartment buildings.Apartment buildings apply not only to residences but commercial areas.Dubai is doing the same.They are not stupid and mizing resoucres,they just understand the importance of fully utilizing space.Global warming is causing higher water levels(at least we experienced that with the recent flood in lagos).Its time to ditch Archaic models and move on to advanced building technology.Another item of importance is research.Property investors rarely carry out detailed research for building projects.You've got to know ur market,their income (high time we had monthly rents),lifestyle,family size etc and plan to meet basic needs accordinglye.g gas refill center,proximity to schools,mini shopping arcade,car wash,automobile center.Another serious issue is aesthetics.Its simply a problem of mediocrity.What stops you from planting flowers and creating livable space outside.Why can i lounge outdoors? under a shade or something? Cost is no excuse(real estate is normally capital intensive).If you provide a product of high value,pple will pay.So why not invest now and reap the rewards later.There's more to real estate than a forum comment.This is just to give you an idea.Let the pics below inspire you(a pic is worth a thousand words).Notice the serenity and outdoor beauty.

having problem uploading pics.but hey,google apartment buildings and get inspired.

@skido, good points. please keep trying to post the pics as I am interested in seeing them.

@ all, I will work on the costs and arrive at all the mathematics of the profits. Remember, I have an eye on the profits and that's why I opened this thread.

@ arctic, I am working on the costs and will update it as soon as I finish, thanks for your interest.

spyder880:

more bungalow

please tell me how much it will cost me to build 60rooms selfcontain hostel in owerri

with out land,i already have land.thanks

my own advice to everybody is if you have money. don´t forget to invest in lagos o abuja
is very interesting

spyder880:

more flats

please tell me how much it will cost me to build 60rooms selfcontain hostel in owerri

with out land,i already have land.thanks

my own advice to everybody is if you have money. don´t forget to invest in Lagos o abuja
is very interesting

You are the man, SPYDER088.
You are the MAN.
SPYDER088 is THE MAN.

Which State are you from? We need to collect signatures to force your Governor to nominate you for a National Honor medal. You and AMALONE merit it more than the mutha phuckers who get it every year simply because they have successfully stolen the commonwealth. May you both be blessed with good health, if only for those of us who continue to learn from you.

I am always skeptical about buying land in Lagos and Abuja. What if Nigeria decides to split and they say you should leave your land and go back to where you come from?

Me, i am building for my kids so, i am looking at the long term sustainability.

Double post.

^^^
You're the height of pessimism, yeye nigerian in diaspora, some of you can be very obnoxious.

@ Blink182, it is you and all your family that are obnoxious. Don't bring your hatred and nonsense here. I gave my opinion, pls do the same. You don't know me so don't start spewing thrash about me.

Whether i am pessimistic or not, it is not your place to insult me. I can give better than i get so don't start what you can't handle. Bush rat like you.

Egypt Apartments:

http://www.rightmove.co.uk/overseas-property/property-17583981.html

blank:

@ Blink182, it is you and all your family that are obnoxious. Don't bring your hatred and nonsense here. I gave my opinion, pls do the same. You don't know me so don't start spewing thrash about me.

Whether i am pessimistic or not, it is not your place to insult me. I can give better than i get so don't start what you can't handle. Bush rat like you.

The rantings of a psychotic female on heat. Feeling fly in her ignorance and disloyalty to her nation, you ought to be shot until dead tied to a stake.

Go and remove that rubbish you posted there.

Cape Town, South Africa

http://www.rightmove.co.uk/overseas-property/property-29870995.html?premiumA=true

http://www.rightmove.co.uk/overseas-property/property-26176183.html

Arctic:

Egypt Apartments:

http://www.rightmove.co.uk/overseas-property/property-17583981.html

Those are definitely high end apartments with a very little market in nigeria

Cape Verde:

http://www.rightmove.co.uk/overseas-property/property-32697374.html

Keep them coming

I bed to disagree with a part of the information where it was suggested that elevators should be installed in the buildings with many floors. While the suggestion is a good one, elevators are however not to be used in times of emegencies like a fire incident. It is against all safety measure and no safety professional will ever give such advice. I am one and it is never done. People evacuating a building when there is fire incident must use the stairs and not the elevator.
Thank you!

wale_1973:

I bed to disagree with a part of the information where it was suggested that elevators should be installed in the buildings with many floors. While the suggestion is a good one, elevators are however not to be used in times of emegencies like a fire incident. It is against all safety measure and no safety professional will ever give such advice. I am one and it is never done. People evacuating a building when there is fire incident must use the stairs and not the elevator.
Thank you!

Thank you,

@all , points noted on the elevators as I will now make the corrections, maybe its because I was feeling very sleepy the day I was typing it. The error is regrettable.

The point I was trying to make was that elevators are very important and builders should consider them in multi floor apartments to ease stress of climbing and descending from the top floors.

Thank you all for the kind words.

The profitability of the equation to follow in a few hours time, please hold on.

For a duplex,

LAND - N1.8M-N15M (DEPENDING ON THE AREA)
BUILDING - N6M - N12M (DEPENDING ON THE SIZE OF THE DUPLEX, THE ARCHITECTURAL STYLE AND THE STANDARD OF FINISH.)
RENTS - N700K - N1.5M (per annum)

We should note that the best place to build a duplex is in a place near the city center, in an area already inhabited by a rich populace and having better amenities, lands in those area don't come cheap so you get ready to spend big to earn bigger.

For a BUNGALOW

LAND - N1.8M - N15M (DEPENDING ON AREA)

BUILDING  N3.5M - N8M (TASTE, SIZE, FINISH)

RENTS  N400 - 800K PER ANNUM


The same conditions with duplex renters, these guys know what they want and can pay for it, their choice area is the elite zone where most facilities are in order. But the investor is adviced to build these type of structures with a nice finish as many of this class of renters are used to some sort of luxury.

blink182:

[s]The rantings of a psychotic female on heat. Feeling fly in her ignorance and disloyalty to her nation, you ought to be shot until dead tied to a stake.

Go and remove that rubbish you posted there[/s].

Ignored. I am a better person. I don't go round spewing hate and vile rubbish.

^^ Okay sir, later this evening.

blank:

Ignored. I am a better person. I don't go round spewing hate and vile rubbish.

Have a dirty wet kiss with a lot  of sputum for coming back to your senses    

spyder880:

For a duplex,

LAND - N1.8M-N15M (DEPENDING ON THE AREA)
BUILDING - N6M - N12M (DEPENDING ON THE SIZE OF THE DUPLEX, THE ARCHITECTURAL STYLE AND THE STANDARD OF FINISH.)
RENTS - N700K - N1.5M (per annum)

We should note that the best place to build a duplex is in a place near the city center, in an area already inhabited by a rich populace and having better amenities, lands in those area don't come cheap so you get ready to spend big to earn bigger.

Yes Boss, Oga spyder can you please be a little more specific on the price and mention exact areas in places like lagos, phc and abuja where your analysis can fly.