blacklion:

Yes, you've made some good points. Those are good options up there. But I doubt any one in Nigeria who paid hard earned money for a Dolphin property seriously imagines he can recover the investment via rent. The real benefit of buying over-priced Dolphin property is access to business finance via using the title deeds as security for bank loans. Also, banks are more willing to lend against a property in Dolphin than one in Mowe.

I have some lands in Lekki, Mowe, Ikorodu and Badagry. Some are in LASG-owned/planned new estates, others are in private estates being created/managed by corporate developers and some in areas where you purchase from the indigenous family landowners and each owner develops. From what I've seen so far, thanks to the rampant lawlessness in Nigeria, both the LASG town planning rules and/or the private estate development regulations are mostly not strictly enforced whether by private or corporate developers or the government. Even the few decent private estates in Lekki, after a while, the usual Nigerian factor creeps in - lack of infrastructure maintenance, the estate developer starts cutting corners, the property owners starting making unauthorized changes to the structures, adding new extensions, modifying the usage of the property etc. So don't get your hopes too high about living in an area comparable to a suburban division in North America. Frankly, I think the best one can hope for in Lagos is something akin to Lekki Phase 1. Unless you can afford Banana Island

IMHO Amuwo Odofin is not reasonable anymore. Its now from N10m even for waterlogged land. You can buy 3 plots in Lekki or 10 plots in Mowe or Ofada with that money!

Also, you don't have to go as far as Epe to find reasonable land in that axis. You can still get land in Ibeju-Lekki from N700k to N2m depending on location and proximity to the road etc. But its mostly waterlogged land so you're looking at another N3m for raft foundation.

Sagamite:

It is just still not an attractive proposition.

N10m (£40k, $66K) merely for land in Amuwo Odofin?

N5m (£20K, $33K) for a waterlogged land and its raft foundation (which would be done for the prospector by Nigerian workers that can give you shoddy work)?

Hell No!

That is just not an attractive proposition when the opportunity cost is factored in.

For those figures one can easily get a wonderful £100K flat in Greece, Croatia, Turkey, Cyprus, Spain, Italy etc on mortgage and rent it out to locals or holiday makers to pay off the mortgage. Nicer assets, better guarantees, sane environs!

When I see some UK-based Nigerian guys feeling all funky because they state they have bought some asset in Nigeria, I almost feel sorry for them. They normally overpay for a poor asset just to feel like if they have achieved. Most of them have zero clue about investment, not even the ones that have accounting certifications. They just follow the crowd.

[Goes on his knees to talk to HIM] Thank you Baba God for giving me the brain that allows me to think independently and divergently so that I never become an individual that follows the crowd. You did a good job on this one o incase no one has told you. You be Shampion!

blacklion:

Like I said, it does not make sense for someone who plans to remain abroad permanently to spend such money on properties in Nigeria. Maybe those UK-based guys are planning to return to Nigeria.

Is the rental market in those countries still that good nowadays? I thought the economies of most of those countries were badly hit by the Euro crisis.

Sagamite:

And my point is, even if a UK-based person plans to return, there is still another better way to do it than to waste your money on overpriced and inferior assets.

Only those who have no option and are based in Nigeria need to buy the wrong asset. I will happily rent it from them after THEY have bought it when I decide to move to Nigeria.

The rental market might be shaky now in some of those countries, but it is still decent and far better than the prospects of a Nigerian property.

prince_onx: ^^^
£40k a year is no joke except if you're one of those people living above their means! If you can't afford a million Naira plot doing a £40k job a year in addition to your wife's income when can you afford it?

spyder880: Getting more interesting with each new comment!

prince_onx: @flexya:
First of all am not based in Nigeria! I live in the US and have for over a decade so you can save all that your taxes, bills, and insurance excuses for those in Nigeria. I own 2 houses here myself! One is paid off and the other have about 8yrs or less left depending on my payment so I know too much about both income and property taxes and the last time I was on a public transportation/bus was in 2001 meaning I also pay auto insurance but hardly/don't pay speeding tickets because I pay to park where am supposed to and maintain legal speed limit. I pay my federal, state, and city taxes, health, life, property, and auto insurance. I live in NE so I know what gas bill is cause my Winter gets to minus 0. (2) you owe me no explanation for not having a house or property in Nigeria but don't ever let me hear you again say that people based abroad can NOT save to build or buy property or near impossible to build regarless of their pay/income except they're involve in dirty deals! There are people out there that make real good money genuinely! I mean GOOD money without having anything to do with business! Just their job and their pay check! I don't know what you do/did in London but pls don't call that a good job again if you struggle to save £300 a month! and by the way more money doesn't necessary mean BIGGER house! There are affordable, comfortable and good houses also in good neighborhood for a family of five. That take us back to living within your/one's means! A lot of people sacrifice a lot of things or pleasure overseas/here just to be able to save more money a month either for investment or simply to save up more! You named car loan as one of your bills in your first reply, then £57 bus pass/card a week in your second reply! I dont know if you own a car or jump on the bus but instead of having a car loan which require full coverage insurance (more money a month) on a newer car ( 1 or 2yrs old) why dont you save up and buy (pay cash) for a 5, 6, or even a 8yrs old car and get a liability (cheaper) insurance a month! And whata blank is TV license? You guys need a permit to watch TV's too? Oga/Bross, to cut stories short you said you've lived in UK for 19+yrs, Abeg! Am begging you stop giving those excuses and do something. You're probabely in your late 40s or early/mid 50s but Your income (£40k gross) is not bad at all and even £300 saving a month is also not bad and properties in your town of Ibadan is also not too expensive! So with few adjustment to your bills and life style that £300 a month can increase to £500 a month and you know what that is in 12months! Even £300 a month is still above half a million Naira so stop those excuses or simply say you're not interested instead of saying it's near impossible or can't be achieved unless one is doing some illegal sh.I.t

Quote: "Savings" is NOT money you keep aside after meeting your expenses....it is the FIRST EXPENSE you make (by putting it aside!)

info@lpf:
We'll try to answer from our perspective:

1. Inflated Prices - Right about when we returned to Nigeria, there was an unprecedented boom in the Nigerian RE market, some say hyper inflated and caused by politicians laundering money by purchasing RE, but I have little interest in speculation. Whatever the cause, a house that would normally have sold for the equivalent of $300,000 - $500,000, suddenly was being marketed for the equivalent of $1 - 2 Million! Reality is those prices are out of reach to most people. Even in the US, I do not live in a million dollar house!

2. Uncertainty - I'll explain this one by using an example. In Atlanta, Georgia, before the RE bubble burst, one could reasonably estimate the RE growth rate at 4 - 6% year over year. This is all founded upon an incredibly mature RE industry, backed by a solid property surveying and valuation systems, a state of the art title recording system, fantastic title insurance in case any questions ever arise as to ownership and a justice system that works! Why is this relevant? Well quite simply, I would invest $100, knowing that except in an economic depression, my home purchase is backed by the full faith of the Republic! IN Nigeria, one could spend N500,000,000 on RE, and then have to contend with a disgruntled omonile son or daughter for the rest of your days. No thanks.

3. Quality - The reality is, once one has lived outside of Nigeria for an extended period (even Ghana and Benin), one gets accustomed to a certain level of quality in building design and finishing. This is almost always absent in Nigerian homes! There is a mediocrity in finishing that has become so accepted, it is quite sad. Why can tiles not be laid properly? Why do screeded walls and ceilings fall unaided (and always when you have guests, right?)? Why do the circuit boards blow up or burn? Why do wooden floor boards stub your toes? Why do doors always come off their hinges? Why do kitchen cabinets fall in the middle of the night, with all my good china? Why do the pipes always leak, why do toilets shake when you sit on them, why do I have to replace my toilet flushing mechanism every 3 months? Why does the air conditioner man attach the AC to the wall in such a way that I have to bend my head to read the inscriptions on it? Why, why, why
Quite simply, how can one then justify paying so much for such crap? I am always amused by the pictures in the property section, and always laugh till my sides pop open when I go on inspections of houses with "superlative finishing". Please! Look up a million dollar house any place else in the world except perhaps Tokyo and Beijing, and compare with a million dollar house in Nigeria, especially Lagos. I don't live in Abuja or Calabar, and don't intend to, so that market is not so relevant to me.

4. Location, Location, Location - I refuse to live in Mowe, Ajiran, Egbeda, Iyana ipaja, Ofada or any other city named after food! I respect people who live there, and who have managed to make life comfortable for themselves. Hats off to you! To each his own poison, however. I choose to live in Ikoyi, Ikeja GRA or Apapa GRA and Victoria Island coming in a distant 4th. I like ground space and lush cultivated greenery (not wild bushes), and whatever is left of it in Lagos can be found in these areas. Can I afford to buy lush greenery and ground space in these areas? Hell no! So I rent. It is affordable, and if I do a Net Present Value calculation of my money, I am well pleased.

I like your post but may I ask you a few questions.
1. If you see a house with these qualities:
 Good price
 Built with quality materials with state-of-the-art finishing
 Located around Ikeja GRA, Shonibare Estate, Maryland, Magodo GRA, and Omole
 Genuine Titles
2. Would it suite your needs? Would you buy?

We have been building houses in the above locations for people that value quality, convenience and a prestigious environment. Nigeria is our father land. We deserve the best here and we must get it. Contact me with or call 08092838139. I will also send you pictures of some of the buildings so that you can see for yourself.

info@lpf:
We'll try to answer from our perspective:

1. Inflated Prices - Right about when we returned to Nigeria, there was an unprecedented boom in the Nigerian RE market, some say hyper inflated and caused by politicians laundering money by purchasing RE, but I have little interest in speculation. Whatever the cause, a house that would normally have sold for the equivalent of $300,000 - $500,000, suddenly was being marketed for the equivalent of $1 - 2 Million! Reality is those prices are out of reach to most people. Even in the US, I do not live in a million dollar house!

2. Uncertainty - I'll explain this one by using an example. In Atlanta, Georgia, before the RE bubble burst, one could reasonably estimate the RE growth rate at 4 - 6% year over year. This is all founded upon an incredibly mature RE industry, backed by a solid property surveying and valuation systems, a state of the art title recording system, fantastic title insurance in case any questions ever arise as to ownership and a justice system that works! Why is this relevant? Well quite simply, I would invest $100, knowing that except in an economic depression, my home purchase is backed by the full faith of the Republic! IN Nigeria, one could spend N500,000,000 on RE, and then have to contend with a disgruntled omonile son or daughter for the rest of your days. No thanks.

3. Quality - The reality is, once one has lived outside of Nigeria for an extended period (even Ghana and Benin), one gets accustomed to a certain level of quality in building design and finishing. This is almost always absent in Nigerian homes! There is a mediocrity in finishing that has become so accepted, it is quite sad. Why can tiles not be laid properly? Why do screeded walls and ceilings fall unaided (and always when you have guests, right?)? Why do the circuit boards blow up or burn? Why do wooden floor boards stub your toes? Why do doors always come off their hinges? Why do kitchen cabinets fall in the middle of the night, with all my good china? Why do the pipes always leak, why do toilets shake when you sit on them, why do I have to replace my toilet flushing mechanism every 3 months? Why does the air conditioner man attach the AC to the wall in such a way that I have to bend my head to read the inscriptions on it? Why, why, why
Quite simply, how can one then justify paying so much for such crap? I am always amused by the pictures in the property section, and always laugh till my sides pop open when I go on inspections of houses with "superlative finishing". Please! Look up a million dollar house any place else in the world except perhaps Tokyo and Beijing, and compare with a million dollar house in Nigeria, especially Lagos. I don't live in Abuja or Calabar, and don't intend to, so that market is not so relevant to me.

4. Location, Location, Location - I refuse to live in Mowe, Ajiran, Egbeda, Iyana ipaja, Ofada or any other city named after food! I respect people who live there, and who have managed to make life comfortable for themselves. Hats off to you! To each his own poison, however. I choose to live in Ikoyi, Ikeja GRA or Apapa GRA and Victoria Island coming in a distant 4th. I like ground space and lush cultivated greenery (not wild bushes), and whatever is left of it in Lagos can be found in these areas. Can I afford to buy lush greenery and ground space in these areas? Hell no! So I rent. It is affordable, and if I do a Net Present Value calculation of my money, I am well pleased.

t2luv:
What I find amazing is the price a plot of land goes for. For the price of a plot of land in certain part of Lagos Island you can buy my house in Johns Creek Ga. for $380,000 and still have some change to buy a 2012 Benz. I am talking a plot of land with no tarred road, no data line installation, and I mean nothing.

t2luv: Last time I was in Lagos around January this year. I was shown a plot of land in Ikeja, Issac John area, for N180M. Converted at the going exchange for that time, it came out to be close to $1,100,000.00. This is a plot of land with no house on it, and not even on tarred road. I thought that was crazy. Who in their right mind will buy a piece of land at that price. I mean a plot, not even an acre.

prince_onx: ^^
I knew from the start that this thread of yours is and will eventually be/turn into pure advert for land and properties you have or working as an agent to sell but using those abroad as topic for it is bulcrap! People in Nigeria need those land/properties more than those of us outside Nigeria but every other land/property advert is just to plain so you decided to target yours on those abroad! That wasn't cool! But I guess you're just being a typical naija runsman who need "abroad or Visa" attached to anything including purewater to draw attention.

excelproperties: Profitability is a major consideration in the choice of an Investment/Venture.
Shares buying,Investment/Trading/Distribution etc are all good business , certainly every business has its own risk but risk are of different natures , some are very high while some are low,the determinants factor of some business risk nature could be carefulness .

Land Investments risk is low , it is no more news that there are many cases of area that were once bush i mean jungle forest before but today those places are homes to beautiful structures/Universities and residential areas,
The land where Cannaan Land/winners Chapel/Covenant University is presently in OTA , along Idiroko express Road today was a thick Jungle/forest that no one dares not go .Today the story have changed, Kilometer 46 along Ibadan Express Road is the Redeem Redemption Camp , some years ago it was a thick Bush/Jungle .

Egbeda/Okota/OTA/Agbara/Mowe/Maroko/Lekki etc were all bush before today what have you.
Other business Investments would need a high running Capital like machinery,if it is a share there is tendency that the company you buy the shares from Liquidate there are issues like that, investments is 50/50 Success Tendency ,a Land/Property that is bought for an amount today would definitely appreciate tomorrow .

There is a case of a man that bought a land for 25000 Naira , after 13 years he sold it for 11 Million Naira , when he bought the land little did he know that the area would develop quick , it was very very bushy then even his friends laughed at him then , the same friends do not have a single room over there head, today he has relocated to a more calm and quiet area , bought another house for 5 million .

Change your mentality that an area is bush , you are still basking in the euphoria of what do i invest on , i do not want to make a mistake , i already have a running business going, what other good venture which would yield me good money in the next 6 to 8 years, It is my advise do buy land in a developing area , make sure it has a c/0 , land survey ,make all necessary confirmation from the BUREAU OF URBAN AND PHYSICAL PLANNING ,VERIFY THE AUTHENTICITY OF THE C/O From the Government , once all that is done and it is fenced ,and also make sure the land is free from Government Acquisition , you wont have any OMONILE PROPBLEM ,Once a year or twice look for people to clear it for you .As years past and as the Area developes value is added to such Land.

There is 3 acre of land that a man bought for 6000 Naira per Plot
36000 naira per acre ,the 3 acre was bought for 108 thousand naira, he got a c/o and land survey for it, fenced it round and allowed a farmer to farm on it and take care of it , i tell you the gospel truth the 3 acre was sold for 21,600,000, (twenty one million six hundred naira) per plot was sold for 1.2 Million Naira , the area has developed so much and it was valued by Government licensed Surveyors before it was sold. the baba off-course has other business but when he has a problem in his business he has something to turn to , no fuel to run the land, no transport to run the land, no labor to run the land, no machine to run the land , no fear of liquidation, no omonile problem.Just cool.



VIRGIN LAND WITH C/O ,LAND SURVEY , ACRE OF LAND FOR SALE ,GENUINE USE YOUR MONEY IF YOU HAVE IT WISELY,INVEST IN PROPERTY TODAY FOR A BETTER PROFIT TOMORROW.THERE IS EXODUS OF PEOPLE FROM THE URBAN TO NEW AREAS. BE WISE.
There are good and Genuine Property Consultants , you can as well look for a Reliable lawyer as well .
For Land purchase in OTA/AGBARA and other areas .
CALL 07044061892
excelpropertiesexcel@yahoo.com
Excel Properties
Dealing With Integrity.

The above write-up is my personal view and not general view .
There are other good business as well.If you have the financial Ability ,its good idea to do.

Sagamite:

Even if this is not a scam, i don't know how you can differentiate it from a scam.

Personally, if anyone wanted to sell anything to me and told me all these, I would be super-pissed of because just bashing me with all positives and hope on an investment in NIGERIA is really insulting my intellect.

If it is so good, he himself will go and lend money and buy the whole thing instead of telling me, a stranger, the secret. As I always tell people when they come and tell me one fantastic proposition put forth to them: "No one that is not your family wakes up in the morning and thinks of how to make your life better. Be careful"

Nobody will use my head to chop.

excelproperties: interesting , very interesting indeed.More divergent views /opinion/feelings makes a public subject more interesting. Strategy for markerting, a thread to look for people abroad for visa this really increases the rate of my laughter,a scam ,etc its really funny though and i laugh a lot . No matter the magnitude of your personal judgements ,my thread still remains ,Property investment in Nigeria is viable. Value of properties appreciate that is the truth, there could be billions of properties opportunities abroad i never discourage anyone from investing abroad , if you are so particular about abroad , I still maintain that Nigeria has property investment ,offcourse i can boldly talk about what i do. This is a public place i challenge anyone scammed by excel properties . Every property i have has confirmable c/o ,land survey, the ones without that are genuine. Once again your comment sound very funny.visa to abroad ,very funny .

excelproperties: @sagamite,Positives and hope on an investment in NIGERIA is really insulting my intellect. It sounds so ridiculous if positive things and hopes in Nigeria insults your intellect , hope negative things about Nigeria would make your intellect happy, very funny indeed.one mans meat is another persons poison,you can decide to stay abroad invest all overthere and spend your whole life till death comes without having anything back home its your choice, it is also a personal choice to look back at home to invest. Property investment in Nigeria is viable.

excelproperties: Crime exist everywhere ,murder, killings happens everywhere, there are some people abroad who would never step there feet on Nigeria again for reasons best known to them ,that is right, i always make it clear in my point that i am not against been abroad or anyone speding the rest days of his/her life abroad, there is a difference between a contribution/views/opinion and insults directed at someone,my thread is simple a layman with a good conscience understand it, it is not an attack on anyone, it is not attack on people abroad, it is an issue truly experienced by many i advise the initial and first content of my thread be read again. Many people abroad have given there experiences ,some say they were cheated by friends/family member/some never thought its important /some been a tenant forever matters not ,radio/television /talk shows /raises topics/subject , people calls to make there contribution without passing insults .likewise here i ave recieved emails ans calls of people given there sad experiences as well. I am not not anti abroad neither am i anti Nigeria. Cheers.

excelproperties: @sagamite,Positives and hope on an investment in NIGERIA is really insulting my intellect. It sounds so ridiculous if positive things and hopes in Nigeria insults your intellect , hope negative things about Nigeria would make your intellect happy, very funny indeed.one mans meat is another persons poison,you can decide to stay abroad invest all overthere and spend your whole life till death comes without having anything back home its your choice, it is also a personal choice to look back at home to invest. Property investment in Nigeria is viable.