property in v.i

I'm looking to invest some money in nigeria (from the uk) i was just wondering how much a decent 4 bedroom house would cost me?

Thanks

Hum depends, if its a condominium its gonna be freaking expensive . Talking about lagos in particular here. But the thing is , why Victoria in particular? check this link out anyhow http://www.homesonsale.co.uk/pages/225.htm . The do have VI houses listed.

heh those prices are cheaper than what we pay...

A typical 4-bedroom apartment in VI could cost you anything from N1.2Mill to $40,000 p.a. Thats assuming you need it for business pupose (business district) but if its for residential, then you probably look at Lekki Phase 1 or VGC and 4bedroom apartments ther go for N1M p.a. Mostly duplexes. You hardly find bungalows that are still available in those regions

if u are talking of investing in ppties, then u are probably talking of purchasing,

then buying a ppty, in V.I, then u shd be prepared to pay about N200m (yeah that expensive),
then u can get rent of say N5m- N8m annually,

this is for 4/5 Br detached hse/Duplex,

and Lekki too is good for investment and much cheaper anyway, especially the built up area.

You could find out how far your money can go by doing a serach on http://www.ip4properties.com - Nigerian Real Estate Guide

Buy a 200m property and only generate 5-8m yearly? Assuming 8m a year, thats 25years to break even. Chai I wont encourage that kind of investment.

This is not even minus risk, and maintainance.

Kazey,

in 25 years the property will be worth a lot more. (depending on inflation, interest rates, cost of living indices etc). Its usually wise to invest in long term ventures.

New:

Kazey,

in 25 years the property will be worth a lot more. (depending on inflation, interest rates, cost of living indices etc). Its usually wise to invest in long term ventures.

So would be your money if invested into a better venture.

Maybe,

but there is some element of luck involved in investing so you cant say investing in one venture is better than the other. For instance people are currently investing in property to be used as a pension pot on retirement (because normal pension plans aren't doing well in the market but house prices are)

Na wao, real estate prices in certain parts of Lagos state is akin to buying property in California. 200 million Naira for a house in Lagos? I will take a pass on that.

You saying because it's ''only Lagos'' they should charge lower than it's worth? You need to see some of those houses up for sale in Lekki etc - most homes in CA are mere toilets compared to 'em.

i think that properties are overvalued in naija.the prices doesnt grow,they simply jump from one level to the other.
and most of the properties has a very poor finishing.

Dear all in Nairaland.com
I am looking for 2 bedroom flat in Awolowo road, keffi st., Norman Williams or Manuwa in Ikoyi.
I can pay up to 1.2 million naira annually.
Please assist me.

Regards,

my e-mail: gamal90@hotmail.com

Please check out my post. I am doing research so that I will soon give mortgage and real estate opportunities to people who want to buy a home in Nigeria, both abroad and in Nigeria. The rates and prices will be clear when I start it. But first I need to research the property market. this is only my preliminary research. I am trying to make a change!

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