₦airaland Forum

moremi2008: Asset prices in high-brow areas are still unrealistic overpriced. Most of them were built with stolen and VERY patient money. The owners won't reduce prices unless faced with a severe liquidity crunch. Prices on the Lekki axis still have a very long way to fall. VI/Ikoyi are just sepulchers for entombing inflated egos and for extorting terrified expatriates.

Don't be so sure about making decent returns in middle-class/upper-middle class neighborhoods. Landlords are often better off putting their monies in fixed deposits than spending a small fortune in impoverished neighborhoods that can't support good rental income. I know from personal experience. Spending N15mm on a property that only generates N1.6mm p.a. in Nigeria (excl. maintenance costs and agent fees) is NOT a good business proposal in Nigeria's insane interest rate regime. Never again!

bigmaut: Go give birth for congo more cheaper & homely