Have you ever wondered which is more profitable between shortletting and yearly rental for property owners?

Short let apartments in Nigeria are becoming popular as it gives guests the privacy they need during their time away from home. Plus, it is less expensive for short stays compared to lodging in a hotel.

From our research, the shortletting shows great prospects as guests are becoming more comfortable opting for short let apartments over hotels. The market for short let apartments continues to grow evident in the increasing popularity of global and local tech companies around this service. Holiday seekers, expatriates, government officials, and celebrities form part of a greater pool of customers choosing to go for short let apartments over conventional hotels.


What this means to property owners?

Click here to learn more -- https://opod.africa/shortletting-yearly-rentals-opod-homes-property/

Hi Monogamy!

Well, except we are able to strike a partnership with them and get approval.

For now, this article was written to create more awareness for shortletting buinsess.

Monogamy:
Why not add the price per day//week/month?

In our last article, we identified 4 reasons contributing to the increasing demand for short let apartments in Nigeria, which has attracted more investors and property owners to develop or convert their apartments to short let homes. Any type of property, from the studio, flats, bungalows to bedroom apartments, duplexes, and hotels, can be rented out on a short-term basis.

The comforting ambiance of a short let apartment is one of their most appealing features. They are not as impersonal as hotels, and you will feel at home even if you are far away. This is true, especially when the flats have been meticulously designed and decorated.


So in this post, we will be sharing top places where you can find short let apartments in Nigeria.

Where to find affordable short let apartments in Nigeria

At the moment, 3 locations stand out as top destinations in Nigeria where you can find short let apartments. These states have a good number of affordable short let homes for everyone depending on your taste.

Whether you’re looking for an apartment for a romantic getaway, family vacation, corporate retreats or to host friends for a party, there is an apartment for you.

Top short let apartments in Lagos
Ikeja, Lekki, Ikoyi, and Victoria Island tops our list of places you can find short let apartments in Lagos. Apartments range from premium-serviced options with all amenities needed for a comfortable and memorable stay to affordable apartments near recreational and leisure facilities.

Here is a list of the top short let apartments in Lagos

Wendo Court Apartment, Lekki
Tranquil Duplex By Casa Nomads, Lekki
Sugarland Shortlet Apartment, Ikoyi
Casa Kampala, Ikoyi
Casa Del Amor, Victoria Island
Gemini Place Apartments, Victoria Island
Grand Bee Apartments, Ikeja
DFS Luxury Apartments, Ikeja


Top short let apartments in Abuja

Click here to read on -- https://opod.africa/top-short-let-apartments-in-nigeria/

A must read

great post

A report published by Alitheia Capital in 2011, suggested that Nigeria’s short stay serviced apartment industry held a good potential for real estate investments. A phenomenon that has been proved to be valid in the last 5 years. Today, traditional hotels are gradually losing market share to serviced apartments or short let homes.

Before now, short-let apartments were mostly patronized by professionals from oil companies, telecommunications companies, and diplomats; but this has changed as more politicians, tourists, celebrities and entertainers now opt for short stay serviced apartments when they travel to a new city. According to a Market Watch report, the short-term rental market has exploded in recent years, with a predicted occupancy rate of 70% in 2021.

Short let apartment demand is on the rise for a variety of reasons.

From our research, we have identified 4 reasons contributing to increasing demand for short let apartments, and we’ll be sharing them below.

Click here to continue reading .... https://opod.africa/short-let-homes-apartments-nigeria/

Again, Real estate investments won't face the same harsh policies as what they are currently doing to fintech.

opod:


In the last 2 months, Bitcoin has been experiencing a downward trend in terms of value.

A market situation popularly referred to as Dip.

This trend is not peculiar to Bitcoin alone as it has spilled into other altcoins. For example, in the last 7 days, the Binance coin has lost about 60% of its market value compared to the month of April. In fact, the global crypto market cap decreased by over 20% in 24 hours between May 21st and 22nd.


Cryptocurrency Market Trend on 23 May 2021 (Source — coinmarketcap.com)
The value of this decrease has been estimated to amount to $1.31Trillion. This means that a huge loss has been incurred by many cryptocurrency traders and investors.

How safe is real estate investment?
From 2013 till date, real estate has ranked as the top investment pick for the majority of Americans, according to Gallup’s annual Economy. Putting real estate ahead of stocks and mutual funds, savings accounts, gold, and bonds as the most preferred investment.

Although it may be the top investment pick, how safe is real estate investment? Just like any investment, real estate investing has risks.

For example, if you buy a property at a time when property demand is high, there may be a risk that you will sell it for less than the original purchase price because the value decreases with changes in the real estate market. This can cost you more money than you would make renting a property.

This means that as a real estate investor you must always be aware of these dynamics understand and follow developments in the market economy and how it works, and prepare in advance to be able to predict any downturn in the real estate market. This will help you determine whether buying an investment property at any given time is a good investment decision.

However, comparing the losses recorded in the dipping of cryptocurrency, it is safe to say that some risks are shared by every investment in an asset class and there is always demand for apartments in good and bad economies, so real estate is considered low-risk.

In our subsequent post, we will discuss other possible risks in real estate investment.

Have any thoughts, please share them in our comment section below.

About OPOD
We enable lenders, real estate agents, property developers to connect and transact, get a mortgage, and enjoy a seamless property acquisition process.

We digitize the process of property and mortgage acquisition, enabling affordable repayment options and real estate equity growth for Nigerians and Africans.

Visit www.opod.africa to learn more.

Thanks

Teddeebear:
nice Editorial

Click here to learn more - https://opod.africa/keeping-home-mosquito-free-rainy-season/

Most countries in Africa experience two climatic seasons: a rainy season which takes place roughly from April and extends to October, and a dry season from November till late April. One associated characteristic of the rainy season is the damp weather conditions. These wet conditions create a conducive environment that helps the breeding of mosquitoes.

As a homeowner or facility manager, ensuring that your house is free from sickness-causing parasites cannot be overemphasized. This means that you need to take the necessary steps to control the breeding of these parasites.

According to the World Health Organization, Vector-borne diseases account for more than 17% of all infectious diseases, causing more than 700 000 deaths annually with Malaria responsible for more than 400,000. Aside from Malaria, Mosquitoes have been found to be a great host to many other deadly diseases such as the Zika virus, West Nile virus, Chikungunya virus, and dengue. In Sub-Saharan Africa, the shift toward mosquitoes that carry diseases other than malaria is likely to accelerate with evolving climatic conditions, according to Mordecai and LaBeaud researchers at Stanford Woods Institute for the Environment.

The good news is that many vector-borne diseases are preventable, through protective measures, and community mobilization.

Click here to learn more - https://opod.africa/keeping-home-mosquito-free-rainy-season/

For most people, having a place to call ‘HOME’ is a long haul.

The journey could take several years of sweat, toil and tears. It gets more difficult for men who have to strive to ensure things are in place before having families of their own – a roof over the head is usually the minimum requirement.

One of the important lessons from George Clason’s classic book “The Richest Man in Babylon” is "Own thy own home". This advice is even more important to the average African family.

Besides the relief from rental pressures, there are other social and psychological benefits to owning a home. Many young families dream of it because it bestows a sense of accomplishment and pride.

Growing up as a man takes a lot especially after becoming a graduate. The next phase is usually to explore the path to independence and self-sustenance. Among the indicators of growth, the ability to pay for one’s rent (yearly or monthly), is a vital one.

In Nigeria, after the mandatory one-year-service to the nation, it takes an average of 3 to 7 years for many graduates to become financially stable. During this period, they are also expected to support other family members (as a way of paying it forward) while trying to build a home of their dream.

It’s a tougher scale to balance for married men because, while yearly payments of rent is a necessity, there are other living expenses incurred by his nuclear family, and being married doesn’t excuse him from bearing external responsibilities or supporting his extended family members.

A survey conducted by NOI Polls in 2014, shows that 51% of Nigerians currently live in rented accommodations, while only 31% claimed to live in their ‘personal house’ which they may have built, purchased or inherited.

A decent accommodation in urban centres in Nigeria ranges from 120,000 to 2,000,000 naira per annum, depending on the location and size of the apartment. When you compare this with the national minimum wage or general average income, it means, more than 25% of a man’s yearly earnings goes to house rent. Recurring rental payments for about 10 to 20 years amounts to a huge figure that makes every man prefer to own a home, thereby saving money on house rents and other associated bills.

Unfortunately, with the year-on-year increase in Nigeria's population, a decent and affordable accommodation is fast becoming a scarce commodity especially in big cities like Lagos, Abuja and Port Harcourt. In 1991, the Nigeria housing deficit was at 7 million. It grew to 12 million in 2007, 14 million in 2010 and 17 million units as revealed by a 2012 report.

This means, tenants will now pay as high as 60% of their average income compared to the United Nations’ recommended 20-30%.

While the Federal and state governments are taking steps to tackle Nigeria’s housing problem through initiatives such as the Nigeria Mortgage Refinance Company (NMRC) and various home ownership schemes, much more needs to be done.

Dolapo Omidire, a Lagos-based real estate research analyst and editor at Estate Intel argues that, trying to approach the problem with mortgage may not be as successful because financial history and other necessary data are still largely unavailable. Hence, many eligible candidates are often left out. The same can be said for eligible candidates with steady incomes who have not been able to save enough for a down-payment.

In an attempt to solve this problem, two friends Ken and Ugo Okoli founded OPOD, a fintech startup that enables consumers, lenders, real estate agents, and property developers to connect and transact throughout the end-to-end mortgage and property acquisition process seamlessly and securely.


“At OPOD, we are using historic and current financial profiles, as well as predictive financial behavioural aggregate data to help our customers realize home ownership through affordable mortgage repayment packages,” says Ugo Okoli, Cofounder OPOD

OPOD’s aim is to transform the current cumbersome and rather rudimentary mortgage lending process currently existing in Nigeria and eventually, across Africa. With an existing 17 million housing deficit in Nigeria prompting the boom in the real estate sector, many of the over 15 million Nigerians in the diaspora and millions of Nigerian residents are seeking to be homeowners and/or desire to acquire properties for investment.

Visit www.opod.africa and subscribe to our newsletters to learn more.

In the last 2 months, Bitcoin has been experiencing a downward trend in terms of value.

A market situation popularly referred to as Dip.

This trend is not peculiar to Bitcoin alone as it has spilled into other altcoins. For example, in the last 7 days, the Binance coin has lost about 60% of its market value compared to the month of April. In fact, the global crypto market cap decreased by over 20% in 24 hours between May 21st and 22nd.


Cryptocurrency Market Trend on 23 May 2021 (Source — coinmarketcap.com)
The value of this decrease has been estimated to amount to $1.31Trillion. This means that a huge loss has been incurred by many cryptocurrency traders and investors.

How safe is real estate investment?
From 2013 till date, real estate has ranked as the top investment pick for the majority of Americans, according to Gallup’s annual Economy. Putting real estate ahead of stocks and mutual funds, savings accounts, gold, and bonds as the most preferred investment.

Although it may be the top investment pick, how safe is real estate investment? Just like any investment, real estate investing has risks.

For example, if you buy a property at a time when property demand is high, there may be a risk that you will sell it for less than the original purchase price because the value decreases with changes in the real estate market. This can cost you more money than you would make renting a property.

This means that as a real estate investor you must always be aware of these dynamics understand and follow developments in the market economy and how it works, and prepare in advance to be able to predict any downturn in the real estate market. This will help you determine whether buying an investment property at any given time is a good investment decision.

However, comparing the losses recorded in the dipping of cryptocurrency, it is safe to say that some risks are shared by every investment in an asset class and there is always demand for apartments in good and bad economies, so real estate is considered low-risk.

In our subsequent post, we will discuss other possible risks in real estate investment.

Have any thoughts, please share them in our comment section below.

About OPOD
We enable lenders, real estate agents, property developers to connect and transact, get a mortgage, and enjoy a seamless property acquisition process.

We digitize the process of property and mortgage acquisition, enabling affordable repayment options and real estate equity growth for Nigerians and Africans.

Visit www.opod.africa to learn more.

With a population of over 200 million, Nigeria is currently faced with housing challenges. middle-income earners do not have access to qualitative housing.

While many believe that Nigeria does not have a housing deficit problem, but a housing affordability problem that statistics still show that Nigeria needs more investments in the real estate sector.

Recently, the Minister of Works and Housing, Babatunde Fashola disclosed that the Federal Government is currently constructing affordable homes in 34 states of the federation, which is aimed at providing affordable houses for Nigerians.

However, with the ever-increasing high cost of living in the urban center, most middle-income earners may still find it challenging to break free from paying rent yearly to becoming a homeowner.

The good news is @opod.africa is here to enable and simplify the pathway to owning your home.


OPOD Africa
Join our community as we count up to our launch date →> www.opod.africa

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