Welcome my friends and investors, in the following posts and threads, I will be bringing to you some intricate property investment opportunities, lands, houses, hotels, malls, rental values, new locations for investment and even building construction updates from many locations.

My objective of opening this thread is that there are just too many opportunities out there, and you never can tell the people that has been searching for those opportunities for some time. This thread is also supposed to stimulate the interest of new investors, to new and existing opportunities where money could be made.

We will be telling stories here, reviewing prospective locations and new information about them. I may not know every opportunity that exist in the real estate sector of the economy, but inhale been around and operated on this same sector since 1998.

So, Welcome as I share some new information about some new locations going for sale, rent or lease before they become too expensive to buy.

We have all heard that Governor Peter Mba of Enugu state had kicked off some massive development of a large chunk of Enugu forests, but that has only been in the news. Today we will touch our foot on the grounds on where it is starting, exploring how serious or less serious they are, and examining what the multiplier effect will be on the other surrounding properties in the towns and villages around.

I just arrived Akpuoga Nike town, sharing boundaries with Emene on the west, Umuode on the south, and Owo (home of the current Governor) to its north.

I can see that there is some development starting off here, this is the town, already having some industrial premises, but I veered off to my left and entered this new development starting off this week.................

This road you see above is a new road created into the bushes, leading towards the Enugu-Abakaliki express road.

The location is being cleared vastly .......

Heavy duty trucks already working to create a work space for this new development...............

It's a serious development which every property investor cannot afford to overlook, the development has burst into the Enugu Abakaliki express, creating another inroads to Akpuoga Nike town...............

I have a plot of land for sale, direct brief, measuring 580 sqm and lying at Alulu Nike area, close to the Local government headquarters of Enugu East.

This land will be ideal for the building of multiple blocks of flats of any types, no government restrictions on number of floors, very good rental valuations in the neighborhood.

Title: Family deed of lease, survey plans and all other documents on my name.

Condition of the land: Level dry land, water is close to the surface, ideal for wells and low yield boreholes. Fenced on only one side, very close to the main road.

Asking price: N15m.

More properties that are for sale to be posted soon, stay tuned..............

It's no longer news that the cost of building materials jumped by more than 40% in a single week this last week. What is now news is the position of some projects that has been agreed for construction in the building industry.

For some projects on a tight budget, work must have to stop, because the funds to add to the project to bring it to completion may not be there again. But doe some projects, there must be variations, and cost alignments. Some contractors are running away from taking up new work, just as some building materials dealers are refusing to accept deposits, or even sell their products for fear of the costs rising.

This is the best time to keep moving, buy the much you can, build the much you can afford, stop when you cannot afford to pay for materials or workmanship. Costs may rose further, of stagnate, costs may also roll downwards, especially if they find a solution for the economic problems of the country.

Keep building, we cannot afford to stop.

Cement prices has continued to soar, in the south east and south south, prices ranged from 10,500 to 12,000 per bag, without transportation.

Iron rods cost as at Saturday, 17th February 2024. (Enugu)

16mm_15,500
12mm_10,000
10mm_7,000
8mm_4,000
B/wire_35,000

spyder880:
Iron rods cost as at Saturday, 17th February 2024. (Enugu)

16mm_15,500
12mm_10,000
10mm_7,000
8mm_4,000
B/wire_35,000

Chisos.
Thanks for the update Ken

spyder880:
Cement prices has continued to soar, in the south east and south south, prices ranged from 10,500 to 12,000 per bag, without transportation.

Chisos..
People still de build house now. What's ur observation?

Bag of 3" nail is now N45,000

Honestly I don't know again what is happening

michlins:
Honestly I don't know again what is happening

Our people will say "Enwehizi ihe m na aghota"

spyder880:
Cement prices has continued to soar, in the south east and south south, prices ranged from 10,500 to 12,000 per bag, without transportation.

Sorry sir, what of the idea of building house with burnt bricks, in terms of cost analysis compare to cement building, I am thinking of venturing into using bricks because of high cost of cement.

Asquare84:


Sorry sir, what of the idea of building house with burnt bricks, in terms of cost analysis compare to cement building, I am thinking of venturing into using bricks because of high cost of cement.

Burnt bricks is another building option but it seems it's more costly to obtain and use these days because of energy costs. Plus the fact that due to internal conduit reasons for electrical and water supply convenience, the ordinary blocks are preferred than burnt bricks as a wall option.

Sorry for replying late.

Cement prices are gradually reducing. I bought cement for about N7,600 yesterday in Enugu.

spyder880:
Cement prices are gradually reducing. I bought cement for about N7,600 yesterday in Enugu.

That's very encouraging.. what about rods?

Badgers14:


That's very encouraging.. what about rods?

Rods are also reducing,

16mm N15,000
12mm N8,950
10mm N5,800
8mm N4,000

spyder880:


Rods are also reducing,

16mm N15,000
12mm N8,950
10mm N5,800
8mm N4,000

Nice, that's really some good news.

House rental costs and situation in Enugu city, April 2024.


Good day my people, this is an evaluation of the house rental situation in Enugu and its surrounding areas in the past 3 months. This report is being posted as a way of keeping my readers abreast of happenings in the property investment industry around the south eastern part of Nigeria.

Since the beginning of 2024, there has been a lot of inflationary pressures on building materials, just like every other goods and services in Nigeria. This has seen prices of goods and services in the building industry, to jump by about 80 to 100% across many products. We have seen cement, iron rods, chippings, electrical and plumbing equipment increase rapidly in cost, we have also seen transportation of materials, workmanship and other expenses rise sharply.

Because of this, we witnessed a reduction in the number of building projects going on in the region, but not as much as expected. People were still starting and completing ongoing building projects.

We are starting to witness a sharp rise in rental values since 2024. An average flat in Enugu used to cost about N500,000 in 2023, but now in 2024, 2 bedroom flats cost an average N800,000 to rent, irrespective of where the house is situated, access roads or not.

It's still too early to call if this has created more value for property investors as rents soar, because other good and materials are also rising to erode the value created by the rental increase. It's our hope that as some building materials prices are going down now, that the inflation in other products will reduce, which will increase the power of Nigerians, and improve returns in the building rental industry.

Spyder880.
0803 335 0750