WHAT ARE THE THINGS YOU NEED TO KNOW ABOUT BUYING INVESTMENT PROPERTY IN IBEJU-LEKKI LAGOS NIGERIA?

About 10 years ago, I purchased a plot of land at the rate of #80,000 thousand naira at Ajah axis, Lagos Nigeria. I kept it for a while because as at that time I was indecisive of what to use it for. Four (4) years ago, I made up my mind to sell it. After an assessment of the property, the least amount I was offered was #900, 000 thousand naira. This leads us to the first thing you have to know about buying investment property in Lagos Nigeria?

When you buy an investment property, the value of your land will appreciate and you will be able to sell it for a higher price in future depending on the amount of time you hold the land for. Most investors buy investment property at the underdeveloped places in the city where there is little basic facilities like electricity, water, or roads in areas that has prospects of development and a good selling price in about 5 years time. But for someone looking to hold the land for longer period, like for 12 to 15 years, then you will likely look at the outskirts of the city where you will purchase a land at a ridiculously cheap amount. Do not wait to own property, own property and wait. The trick to a land investment is the power to hold it.

You can also buy an investment property for the purpose of development. If you cannot hold a land for a long time for its value to appreciate, another thing to do to make it an investment property is to develop the property depending on your choice of development. You can purchase a nice property in a very nice location and develop LUXURIOUS HOTELS, lease out apartments and office space or develop other structure for commercial activities. I guarantee you that you will get double of the income used in developing such property.

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