Hello Friends,

I need advice on how best to go into a Real Estate 'Build & Sell' Project in Lekki-Ajah axis of Lagos. I intend to build beautiful design of modern houses and put them up for sale.  As stated, my preferred location is the Lekki-Ajah axis.

My questions are:

1). How viable is this business in my location of choice (Lekki-Ajah)?

2). What kind of apartments would be in high demand?

3). What kinds of facilities would buyers be looking out for in these apartments?

4). Are there going to be competitors for me to struggle with in view of marketing and pricing?

Your advice and contributions would be highly appreciated as they would form my guide in decision making. Thank you.

Your contribution is needed on this topic. Please share your thoughts.

Your contribution is needed on this topic. Please share your thoughts.

Dear Friend, u r hvn a gud taught, bt u v answered most of dese questions urself, so u shud bware of competitor in d biz nd if u can nw brand ur own product n terms of marketin and wat u incorporate lik d design of d build hw attractive it is. Then u can penetrate d market am sure. If u need more info don't hesitate 2 contact me back. My company is also a developer,s company that can render both consultancy and construction service 4 u, 2 v value 4 ur money, we will like 2 giv ur som architectural drawings which meet international standard 2 get ur money back easily. Here is our contact. Walus Richmonds Limited. 08188447496, 08036140356. walusrichmonds@yahoo.com. Tanks

this indeed a good vision and unique project, you will realize your money. 1. get ur land in marketable location.
2. have a good architectural drawing and plan. 3. consult good property outfit.

believe me the rest is story. We are into property consulting and management and our office within ur choice area 08022132445, 07041475613 dan4pastor@yahoo.com

Thank you all for the contribution so far. However I am still hoping to get more contributions that will guide my plans and action before finally embarking on this project. Can I get comments from someone who has practically been involved in this. His/her contribution would go a long way because he would be able to advice from a pragmatic point of view.
Once again I appreciate the comments received so far. I would be glad to receive more. Thank you all.

.

@Craig_Kim,
Investment in construction in that axis will be good for years to come however you must consider this or you'll end up like others with structures built with millions but without buyers/tenants.
Gone are the days when bankers rent/buy buildings along that axis with upfront cash, now those luxuries are no longer there, most people now buy land and build rather than spend millions to acquire an already built one so that they can save money, but any buildings that sells quickly are always the ones surrounded by good roads, electricity, clean neighbourhoods and water. So if you are thinking of investing at all you must consider providing most of these infrastuctures, Nigerians love exclusive neighbourhoods. Bad roads is always a turnoff.

could the mods kindly help promote this topic to the front page? I'm also very interested to read people's views on OPs questions.

thirdeye:

@Craig_Kim,
Investment in construction in that axis will be good for years to come however you must consider this or you'll end up like others with structures built with millions but without buyers/tenants.
Gone are the days when bankers rent/buy buildings along that axis with upfront cash, now those luxuries are no longer there, most people now buy land and build rather than spend millions to acquire an already built one so that they can save money, but any buildings that sells quickly are always the ones surrounded by good roads, electricity, clean neighbourhoods and water. So if you are thinking of investing at all you must consider providing most of these infrastuctures, Nigerians love exclusive neighbourhoods. Bad roads is always a turnoff.

Great comments and an eye-opener one too. Your comments are highly appreciated. Will take those into consideration. However you are of the opinion that most people now prefer to buy land rather than already built up apartments. I am still wondering how this could be true. Even if these people will buy land and build as you said, would they not still end up spending millions to build their dream homes? Or would they rather prefer to buy the land and build just anything in order to save money?

Like I mentioned before, I am considering the Lekki-Ajah axis. I stand to be corrected, but the kind of homes I find in this axis are not the types that are built trying to save money. You also mentioned that bankers do not have access to upfront cash to acquire properties these days as used to be obtained. That comment worries me. Are bankers the main target market for properties in Nigeria?
Once again, I really appreciate your candid comments. Let me know what you think about my questions?

violent:

could the mods kindly help promote this topic to the front page? I'm also very interested to read people's views on OPs questions.

Thank you for your view on the topic. I agree that more people may also benefit from this topic. How do we make the moderators put this topic on the frontpage? Anyone who can help should kindly do something.

.

Craig_Kim:


Thank you for your view on the topic. I agree that more people may also benefit from this topic. How do we make the moderators put this topic on the frontpage? Anyone who can help should kindly do something.

Hello Moderators, I believe this topic should go to the front page. Please kindly help to promote it.

Still hoping that the moderators would do something to help promote this thread to the front page to allow for more contribution. Please moderators help do something.

.

Anyone else kind enough to share their knowledge and experience on the topic?

.

.

.