This property has the following and will be sold together:

- 8 bedroom all ensuite duplex with a dressing room
- 3 bedroom guest house all ensuite
- 2 room maids quarters all ensuite
- generator house with a 200 KVA generator
- 2 room security house at the gate

Title is re-certified C of O.
Price is N250 million.
Contact me at egbudu2007@yahoo.com
Only serious buyers need bother.

Regards
Nat

more pictures,

Tastefully finished.

and more,

more interiors,

Any buyer can instantly use this property for a money spinning guest house in the middle of Asokoro! Property is on a very reputable street with heavyweight neighbours!

Still in the market!

You mean this house goes for 250mil. Nigeria still has a long way to go. What is the buying factor of this property.

It is unbelievable that a house that should be found in ghettos in western world goes for such an exorbitant price.  This house is not worth $1.66million.  When you factor in the fact that the environment probably lacks adequate infrastructure, the price becomes even more absurd. 

I personally think the valuation of houses, land and other real properties in Nigeria are arbitrary and capricious.  In a fair market world, this house should be no more than $200,000.00 or 30 million naira but we are in Nigeria where everthing is rigged against the common man from the stock market to real estate to the government and we wonder why the country is failing?

The inter locking tiles here are simply nasty and leaves much to be desired. For a house that costs this much, landscaping should at least be much better than it is.

With 250 million naira I can do a much better construction myself even in Asokoro.  The replacement value should be much less for this house.

It is unbelievable that a house that should be found in ghettos in western world goes for such an exorbitant price. This house is not not worth $1.66million. When you factor in the fact that the environment probably lacks adequate infrastructure, the price becomes even more absurd.

I personally think the valuation of houses, land and other real properties in Nigeria are arbitrary and capricious. In a fair market world, this house should be no more than $200,000.00 or 30 million but we are in Nigeria where everthing is rigged against the common man from the stock market to real estate to the government and we wonder why the country is failing?

The inter locking tiles here are simply nasty and leaves much to be desired. For a house that costs this much, landscaping should at least be much better than it is.

With 250 million naira I can do a much better construction myself even in Asokoro. The replacement value should be much less for this house

.
yyou took the word out of my mouth.gbam


you

Dear Omonuan,
You sure are entitled to your opinion-whatever your concern may be.

Let us leave valuations for the people pulling the strings. They cost and buy such houses themselves.
Leave the common man out of this, it didn't start with this house o!

You probably are thinking: 200K dollars will get me a nicer house in a nicer environ in say, Houston or Fairfax or elsewhere in the US but guy, dis na naija and dat house na Asokoro e dey! Little wonder i already have juicy offers trickling in?

As per the interlocking, i agree it was a bad job. I noted it to the owner. The property was built and left unused for like 5 years. Some element of degradation had set in and we are dealing the buyer a sizeable chunk to enable good repairs.

Going! Going!

I wish you well with the offers "trickling in."  The question though is why do Nigerians have to settle for less simply because we are Nigerians?  The world is a better world today for everyone but Nigerians. We have simply retrogressed!

I have made my point and even you conceded that the house is over valued simply because the house is Askoro Nigeria.  That is fair enough and if somebody wants to pay 250m naira to you for a dilapidated house, I would say go for it immediately but I am sure you won't get that at least you've not gotten it.  But by your admission, offers are "trickling in."  I am sure you know why. The price of this house is simply an outrage!

Thank you ode remo.

omonuan:

I wish you well with the offers "trickling in." The question though is why do Nigerians have to settle for less simply because we are Nigerians? The world is a better world today for everyone but Nigerians. We have simply retrogressed!

I have made my point and even you conceded that the house is over valued simply because the house is Askoro Nigeria. That is fair enough and if somebody wants to pay 250m naira to you for a dilapidated house, I would say go for it immediately but I am sure you won't get that at least you've not gotten it. But by your admission, offers are "trickling in." I am sure you know why. The price of this house is simply an outrage!

Thank you ode remo.

People buy property for various reasons.For that price and to certain investors the property inquestion is a "steal".The condition of a house is irrelevant in some cases a dilapidated house in downtown Los Angeles will cost more than an equivalent well built house in Fort Bend county Houston.The value of a property is determined by economic factors regardless of whether the property is in Europe or Bangladesh.The is nothing Nigerian about demand and supply if you like build the equvalent of Buckingham palace in your village it will not be more valuable than a flat at 1004 estate in Lagos.

People buy property for various reasons.For that price and to certain investors the property inquestion is a "steal".The condition of a house is irrelevant in some cases a dilapidated house in downtown Los Angeles will cost more than an equivalent well built house in Fort Bend county Houston.The value of a property is determined by economic factors regardless of  whether the property is in Europe or Bangladesh.The is nothing Nigerian about demand and supply if you like build the equvalent of Buckingham palace in your village it will not be more valuable than a flat at 1004 estate in Lagos.

Right on the money!

Omonuan,
Need i say more? The only misconception i would rather like to correct had been aptly dealt with by the poster quoted above. In the property business, there is, per se, nothing like over-valuation. I will quote you:

, the house is over valued simply because the house is Askoro Nigeria

. You see, ''simply because the house is in Asokoro'' is the driver and determinant of the price. The same point CHANCEMAN alluded to.
Let me deal you another angle to this argument. This property has an empty plot of relatively same size and directly facing it. It was just sold for 150 million naira. The offers ''trickling in'' are in the neighborhood of 200 million naira. Now you know why?

Honestly, i understand your outrage. I used to think that way about properties before i got ''enlightened''. You probably stay in America. I once worked in the Rocky mountain area of Casper Wyoming and I also once ''jollofed'' in the New York area. The property price regime between the two areas once made me react exactly like you did. But like i said, i got ''enlightened''. Now i beg you to follow suit, albeit on a lighter note!

Going! Going!

Well, if the property market continues like this, the real estate sector all over the country is in trouble
especially in the big cities. At the rate at which the properties prices are going up, that house will be
costing 1 billion in 5 years. We are heading for a super crash

Even in my village, buying land makes no sense because the price is so outrageous. The property market
is a growing sector that would have benefited many people in decades to come but it seems the Nigerian
greediness will destroy it very soon.

At poster: I don't mean to spoil your business and I understand your lingua but bobos just had to speak out.
I wish you luck in your sale and don't forget to share the commission around.

Natudu:

Hey, I wish you well in your quest to sell the property. Nothing personal. Thank you though for understanding my point. At least you did not engage in ad hominam attacks unlike many Nigerians in your shoes.

I live in an upscale neighborhood in the rocky mountain regional capital-Denver Colorado. Better & bigger houses, environment, roads, good security and landscaping for less than you might imagine in my neighborhood. It is a small world! Glad to hear that you lived in the area too. You see we have something in common. 

I like it when people engage in intellectual discussions. I am kind of into real estate investment in Nigeria. I build houses and rent to people so I know what it costs to build viz-a-viz what you guys are asking for. Right now I am constructing a hostel in Choba PH that would have sixty four units when it is done. I have 2000 Sqm piece of land in Kuruduma Abuja waiting to be developed. I have land in Ajah Lagos. I also have 2  acres of land in various locations in Asaba plus several developed rented flats there.

You never know, we may meet and do business together in the future.

my heart melt when i read intelectual and cordial discussion btw fellow nija, in fact i wish you good luck 2wice over in your sale .only for the mature manner you have dealt with the discussion.
i used to go bersrck when i bought my fist property / land in abj in 2003 in abj and can still not fanthom our valuation in nigeria.
this is after almost 15 yrs in the property market in the u.k, but hey this is nigeria. anything goes.
i think most of us frm ABROAD need to shake off our western attitude/acquire culture if we want to make

Guys,
I really appreciate the engagements. I guess we have learnt how to vent our frustrations without declining into personal attacks. It is good we understand that it is only in polite discourse that we can learn and get better.

Omonuan,
I see. Good to know you hide in Denver. I love Denver! I love the Denver Broncos, i am a good fan. I still dream of going back there someday though i am terrified of driving on the snowy mountains in winter.
I also dream of another thing which you already have here: owning hostels in Choba! Man, what a money spinner! I actually have a home in Port Harcourt and i currently run a programme in UNIPORT. Yes, we may live to do business together, someday. I smell you are getting close to coming home!

Cheers
Nat

This property is still available.