₦airaland Forum

Which area of lagos are these bungalows exactly?

You may just want to post pictures -thanks

Is there a location for this estate in Abuja - its quite a large city and as you may know location,location, location.

I'm after a semi detached or detached in magodo shangisha or omole 2 for around the 25m mark - do you have anything that'll be of interest?

Just on a general note to help your marketing - the more info you provide, the more likely the buyer would think you're serious about your work - who on earth will call for a plain old description of "bungalow 25m" if I'm willing to pay anything close to 25m it'll take more than that to get me to waste my credit calling. Gone are the days of lazy property marketing - you actually need to do more to convince buyers.

What are your contact details I may have someone who is interested?

Bros - sorry to dissappoint you but the zero offers at 48m should tell you more than slashing the price to N45M, I know we all think our own property is the best and with the market the way it was a year and a half ago we could get away with daylight robbery on property sales. Reality is Festac is not a choice area, a bungalow is not a choice home in Nigeria so I suggest you face that reality and price accordingly. Moreso, have you considered what this property will fetch me annually and used that for pricing, if it will take more than 15 years to pay for itself, its not really a worthwhile venture for anyone sensible, that is what should inform your pricing particularly in a market where banks are not lending.

Is it free of charge?

100 million for this in Magodo GRA, what returns can this property possibly generate, who are the expatriates that will rent it?  Come on get real, 100M is pushing your luck in this market if you really want a quick sale.  Suggest you do the Naija thing and fast for 7 days and pray hard there may just be a chance.  Really you and I know the market is correcting itself, no one will respond at the price you're quoting so you can either keep hoping or revise to a price that is not contending with Ikoyi/vgc and there may be a chance.  Good Luck with your sale.

Would it not make good business sense for you to put a price on this add? Clearly irrespective of payment terms your potential customers would need to know what they are committing beyond percentages. Is this really an add or just put out for doing sake?

Some very good points of view so far covering both sides of the argument.  My own take is, property prices will adjust in Lagos whether we like it or not.  Speculation and some key individuals driving up the market by colluding e.g. I ask my rich friend to buy my Ikoyi property off me for 200 million even though its worth 100 million, next person that'll offer in that region will pay 250 million that way myself and my friend have made a healthy killing.  Such individuals will get funding from banks to jack up their prices.  Also, the stock market and margin lending, I invest 10 million in the stock market the bank matches it and gives me 20 million, stock market crashes and I have to pay back 10 million to my bank including my loss of 10 million, maybe I'll consider selling that land/property I've always speculated on for discount since no one can get ridiculous credit from the banks to buy off me.  All the above, show how a credit crises in the banks will lead to some correction.

Taking a global perspective, Nigeria with limited infastructure - electricity, roads, safety, education, tourism has no real basis for where the prices seat at the moment and will correct itself, even extremely developed Dubai which can be compared to Lagos in its type of boom has lost momentum and is getting some correction.  If I bought a flat/house in Lagos and rented it out, there is no legal system to protect me if the tennants don't pay and ruin my property, if I do the same in London or New york, I'll be safe legally.  For this reason, Lagos doesn't really offer a straightforward investment as there are so many risks attached to it.

Finally, Investments focus on payback periods so the moment I buy a property for 40 million and it'll only command 1 million a year in rent, there is a problem, it'll take it 40 years to pay itself back excluding maintenance costs, that doesn't sound like a very viable investment, I should be looking at real estate from a 15-25 year payback timeline, this is what reflects what the true value of that property is, this presents a good way for people to value the property they are buying if in fact they choose to invest in Lagos, a market that goes against the trend of all other global capitals.

Openness and Honesty both ways is key. Nothing is hidden under the face of the earth that cannot be revealed so best to tell the truth and pay the price if any than to have lived a happy married life for a good period of time only for a secret to be revealed that ruins the marriage for both parties and the children.  A habit of keeping secrets breeds deceipt, if I keep a secret of something that happened 5 years ago what stops me from doing the same about an adultery I will commit tomorrow, I can put them in the same bucket and lock them away.

If anyone thinks keeping a secret will hold their marriage then they are living a lie, only grace can keep it together so better to depend on grace after you have confessed all using the right approach.  Atleast if the marriage/relationship doesn't work you know your conscience is clear and if the two individuals are meant to be, they will still be.  Deceipt is not a good way to go into any business let alone a marriage.  Looking at the postings -I worry about the number of women that expect to have succesful marriages by living lies - "if the foundation be destroyed what then shall the righteous do".  Please understand that whatever works now will breakdown if either party finds they didn't get what they bargained for.

As a guy, I make it a habit to confess my sins as soon as they happen so as I don't remain in my vomit and would only be with a woman that does the same and can understand the intent of this.

Hey Grandstar - can you give me your contact details so I can call you to discuss, I'm very interested.

Viperman - I'm after a CRV for 2002 onwards and ML320 don't mind if this is a little older. Would consider other SUVs just let me know what you have at the moment and prices and if you're expecting similar in the near future.

Thanks

Inspired_M - I'm after an SUV for lagos looking at the CRV LX(2002 onwards), Toyota Highlanda(2002 onwards) or the Nissan XTERRA(2002 onwards) in automatic - do you have such and how much are they going for? Would also consider ML320 if that is cheaper. Let me know asap.

whats the mileage?

Inspired_Men - where are you based in lagos, just want to get someone round to look at the car for me. Also is it Naija used or straight from Yankee?

Phammyus - What about 1.8M - Can arrange view and pick up this week, u in lagos - which part?

Inspired - Is the car still available if so where are you based, Also how's 2m and will arrange viewing and pick up before the end of the week?

Can you give Further details of the C Class - Is it a C180, was this car previously owned in Nigeria or is it imported? Which side you dey for Lagos?

Thanks,
Dydx

Hey Viper,

Is the C Class Sold? If not is it a C180? Either way do you have any 2002 Honda CRV or Toyota Rav4 on your books. If so I beg publish them.

Thanks

Hi All,

I've gained some useful insight into the Naija Used Car Market by reading through the postings - keep the flag flying.  I'm looking to buy a 2002/2003 Honda CRV or a 2002 Toyota Rav 4.  I'm considering the options of shipping from the States or buying from Nigeria. In shipping from the US can someone please provide Landing Costs breakdown for ROR and Container Respectively.  Furthermore, is the ROR safe for these particular vehicles as I heard there may be some theft of parts e.t.c on arrival at the Ports for ROR.  It would also be useful to get equivalent pricing for these cars in Naija as I would consider buying direct there if there isn't much difference.

Thanks
Dydx