Benzboys:
What kind of house?

Duplex

emmanuelewumi:



Talking about the high end of the property market.

N58 million houses at Ikota 5 years ago is struggling to get a buyer for N60 million in 2020

Someone had to sell his house for way below what he thought the price was (cos pricing in Lagis property market is ridiculous and stupid) just to foot some medical emergency Bill's.


In some parts of that Ikpyi
The apartments and houses are not selling cos they are damn overpriced


Property prices are not real in Nigeria

How can one say property prices goes up and not down



Why is it then a market ?
Fluctuations is what makes the market a market

Benzboys:
The bubble will burst someday weh dem dey talk since 2010 still the bubble never burst.
People are making some kind of money these days in this country and the middle class is growing,so it's no wonder these houses keep appreciating.
I also like the UK type homes(semi detached) they are building around lagos for the lower middle class.

Atleast it is no longer impossible for a person that makes 5m a year to own a home in Lagos middle class areas.

No need arguing with you. To each his own.

emmanuelewumi:



Duplex

Full detached duplexes have no demand and appreciation in the short run,especially in off locations like ikota.
People don't buy fully detached duplexes In those places where empty lands full,they rather buy land 11m use 40m build.If you want to see duplex appreciation,go phase 1 and see magic.
Look at rentable properties like semi-detached duplexes and apartments in blocks of flats,a whole different story

niyoni:


No need arguing with you. To each his own.

Too each his own doesn't apply when one person is preaching falsehood na.
Bubble will burst indeed

Benzboys:
Too each his own doesn't apply when one person is preaching falsehood na.
Bubble will burst indeed

Now I have to comment


What is the falsehood in the obvious
That the real estate market in those "prime" areas of the country are a bubble

Do you even know what a bubble means?

Okay
Let me ask you

What is the BASIS of the valuations we get from such properties

And why are they so illiquid (real estate normally is a lot illiquid, but the level of illiquidity in that market is not normal)


What do you have to say about that?


"Falsehood " indeed

Benzboys:
Why I would change my identity for you is still what I don't understand
To gain what exactly?I tell you say I dey look for who to come and invest in me?
The self delusion in some of your heads is alarming.

From Nwanneni to Logobenz to TheConglomerate to Benzboys. Keep talking nonsense online when you offline you are a criminal who smuggles fake drinks and passes them off as originals. Imagine a useless criminal talking down on people who made money through legitimate means.

DexterousOne:


Now I have to comment


What is the falsehood in the obvious
That the real estate market in those "prime" areas of the country are a bubble

Do you even know what a bubble means?

Okay
Let me ask you

What is the BASIS of the valuations we get from such properties

And why are they so illiquid (real estate normally is a lot illiquid, but the level of illiquidity in that market is not normal)


What do you have to say about that?


"Falsehood " indeed

How did you measure the level of illiquidity in the lagos real estate market?
How do you say a place is overpriced or people are living in a bubble yet the demand for those places keep skyrocketing daily in the last 13 years?
Leave elite areas and talk about middle class zones like Lekki and co.
How are those places receding?

Wickedfact:


From Nwanneni to Logobenz to TheConglomerate to Benzboys. Keep talking nonsense online when you offline you are a criminal who smuggles fake drinks and passes them off as originals. Imagine a useless criminal talking down on people who made money through legitimate means.

Oww

That guy is also nwanneni?

No wonder

DexterousOne:


Oww

That guy is also nwanneni?

No wonder

He is also healthserve.

talk2tonie:


He is also healthserve.

Are you sure?

emmanuelewumi:



Are you sure?

Not 100% sure. But similar use of words.

talk2tonie:


Not 100% sure. But similar use of words.

One is a Yoruba hustler while the other is an Igbo hustler.

My opinion though

emmanuelewumi:


One is a Yoruba hustler while the other is an Igbo hustler.

My opinion though

Oh I see. Well then.

Benzboys:
Well let's just say you don't have enough money that's why you are buying fixed income rather than real estate because if you did have enough money,you should have been looking at buying a property in Ikoyi for rental income.
Do you think tenants in Ikoyi owe rents?
Money stop nonsense nwanne,leave plenty .

The hand of Esau and the voice of Jacob....I put it to you that you are
Theconglomerate ,that rude tomato seller.

Wickedfact:

From Nwanneni to Logobenz to TheConglomerate to Benzboys. Keep talking nonsense online when you offline you are a criminal who smuggles fake drinks and passes them .

Lol you beat me to it,I thought I was the only one that spotted the Uncouth responses.

talk2tonie:


He is also healthserve.

He's not healthserve

Grupo:


He's not healthserve

Alright then.

Nwanneni is not Healthserve. Healthserve is a Mowe Ibafo scammer using farm to scam people. Nwanneni AKA Theconglomerate AKA Benzboys is a transborder smuggler. He smuggles counterfeit products to other African countries and he's one of the bad eggs giving this country a bad name.

Benzboys:
How did you measure the level of illiquidity in the lagos real estate market?
How do you say a place is overpriced or people are living in a bubble yet the demand for those places keep skyrocketing daily in the last 13 years?
Leave elite areas and talk about middle class zones like Lekki and co.
How are those places receding?

The person you are asking doesn't know anything about real estate in Lagos. Theconglomerate AKA Benzboys doesn't know anything. He's a local tout in PH. That's how the slowpoke said if he imports apples, he would finish selling a container load of apples in traffic before getting to Ikeja along. Very foolish tout.

He definitely writes like 'The Conglomerate". Thats's the first thing that came to my mind after I read two or three of his posts. The way one writes is a reflection of the way one thinks. You cannot overhaul your thought system in one day.

ahiboilandgas:
from healthseve to conglomerate to benz boy .....keep changing identity weldone we can spot your writing pattern from a million miles ....

Cyberknight:


I haven't seen any so-called upscale areas in Lagos and Abuja that really deserve the appellation.
Ikoyi, for instance is basically a slum with indications of past grandeur and not worth the ridiculous prices given to its real estate. I've no words to describe Lekki Phase 1.

I'd take Cantonments in Accra or Westlands in Nairobi over any comparable places in Lagos or Abuja any day.

Westlands na crap Sir. Kilimani is a little bit saner.

Tobex4realTobex234:


Westlands na crap Sir. Kilimani is a little bit saner.

Lol.
Opinions, opinions.
I could have said Runda or Gigiri, but I think that Ikoyi and VI compare to middle income districts in other African cities.

DexterousOne:



NTB is done for now

That era of 15% and 13% is gone
We enjoyed it while it lasted

I kind of came to the party late - March, June and July, 2019 at 2.33, 10.71 and 11.91% I guess.

niyoni:


Very well said. Especially the so-called Ikoyi and Lekki phase 1. Littered with over-priced properties. Buy those properties for investment/appreciation purposes at your own peril. Just like buying over-priced stocks. The bubble will burst someday.

I agree with this 100%!

DexterousOne:


Someone had to sell his house for way below what he thought the price was (cos pricing in Lagis property market is ridiculous and stupid) just to foot some medical emergency Bill's.


In some parts of that Ikpyi
The apartments and houses are not selling cos they are damn overpriced


Property prices are not real in Nigeria

How can one say property prices goes up and not down



Why is it then a market ?
Fluctuations is what makes the market a market

That bubble is already bursting, people are not just seeing it yet.

Benzboys:
Full detached duplexes have no demand and appreciation in the short run,especially in off locations like ikota.
People don't buy fully detached duplexes In those places where empty lands full,they rather buy land 11m use 40m build.If you want to see duplex appreciation,go phase 1 and see magic.
Look at rentable properties like semi-detached duplexes and apartments in blocks of flats,a whole different story

And the flood and all other problems “Sir Dexterous” talked about?

I agree with him 100% in that regard.

Benzboys:
How did you measure the level of illiquidity in the lagos real estate market?
How do you say a place is overpriced or people are living in a bubble yet the demand for those places keep skyrocketing daily in the last 13 years?
Leave elite areas and talk about middle class zones like Lekki and co.
How are those places receding?

Oga! Say no more and look at the REITs market. You will learn more and see why Real Estate in Nigeria is quite illiquid and doesn’t appreciate the way people think it does.

Cyberknight:


Lol.
Opinions, opinions.
I could have said Runda or Gigiri, but I think that Ikoyi and VI compare to middle income districts in other African cities.

Middle income is you even being nice, due to that drainage system I am giving them a large resounding F9.

GonFreecss1:


And the flood and all other problems “Sir Dexterous” talked about?

I agree with him 100% in that regard.

What about flood?
People that have the money are buying properties and building wonders and you are here telling me about flood?
Is it not a temporar problem?How long does flood last in a year?Sometimes it is even occasional in some parts,so that should be reason enough not to buy a property there?
Buying a landcruiser will greatly diminish every possibility of not being able to go out when it floods,so?
Can't it be solved by elevating your house a bit and use the whole lobby as car lot and start the main building from first floor?
I'm sure you all saw what that sayaveth interior lady built in pinnock beach and the kind of money she put there,if it was that bad I'm sure she wouldn't have put in all of that in a bubble.
Enough of this poverty argument abeg,when una get the money una go know.
NL people now think they're smarter than all those who inhabit or buy lekki properties,smh...

Benzboys:
What about flood?
People that have the money are buying properties and building wonders and you are here telling me about flood?
Is it not a temporar problem?How long does flood last in a year?Sometimes it is even occasional in some parts,so that should be reason enough not to buy a property there?
Buying a landcruiser will greatly diminish every possibility of not being able to go out when it floods,so?
Can't it be solved by elevating your house a bit and use the whole lobby as car lot and start the main building from first floor?
I'm sure you all saw what that sayaveth interior lady built in pinnock beach and the kind of money she put there,if it was that bad I'm sure she wouldn't have put in all of that in a bubble.
Enough of this poverty argument abeg,when una get the money una go know.
NL people now think they're smarter than all those who inhabit or buy lekki properties,smh...

Genuine question, what is the average roi on lekki Properties?

Nigsrdumb:

Genuine question, what is the average roi on lekki Properties?

apartment 1.7m
Semi detached mini duplex 2.8m
Fully detached duplex 5-7m depending on finish and location.
Mansion...Bleep