Real Estate: A Budding Sector, Preaching Possibilities

In Nigeria today, there are many business an individual can engage in, in order to source for his/her livelihood, these businesses ranges from Agriculture to Cosmetics Business, Tutoring, Website design, Social Media Marketing, real estate, Fashion Designing and so much more.

Your business can be your passion, that is what you derive pleasure from or it can be something you do just for the money (ego, kudi, owo). Whichever way such business must and ought to give value for what you are investing into it.

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However, one business that is currently thriving in Nigeria today aside from agriculture, is the Real Estate business. It is a business that is largely associated with landed properties plus any permanent man-made additions, such as houses and other buildings. From buying to sales to valuing of properties. The business is a very lucrative one as people will always need to buy lands on which to develop a building or buy landed property for agriculture or any other businesses as may be suitable to the needs of the buyer.

Buildings
Buildings

It is however, important to seek advice of experts in the field so as not to buy lands that belongs to the government or buy lands that have already been sold or even buy a landed property in a region that is not suitable for the purpose for which the land has been bought. These experts are called Real estate agents, they are licensed professionals who arrange real estate transactions, matching buyers and sellers and acting as their representatives in negotiations.

The estate agents, using factors for real estate investing, consider such things as location of a property, the valuation of the property, investment purpose among other things. Though, Nigeria as a country is yet to come to terms with the importance of the sector as a good source of revenue, other countries of the world, such as the United States of America, Britain, Spain among others, have continued to explore and enjoy the dividends of the sector. Besides the Omo onile issues being experienced by prospective land buyers  and land grabbing that comes up every now and again, Companies doing business in the sector are thriving.

According to the Agusto&Co reports, as at 2020, the GDP of the Nigerian real estate industry was pegged at ₦3.96 trillion, a 9.4% decline from the previous year’s ₦4.37 trillion. Top five major players in the industry in Nigeria includes: Adron Homes and Properties Ltd, Landmark Corporate Realty Ltd, Primrose Development Company Ltd, Prime waterview Ltd and Fine And Country West Africa.

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Housing is a major problem, the federal government of Nigeria, can develop a housing scheme that is all encompassing and inclusive for all Nigerians, huge revenues will be generated and such revenue can then be invested into other sectors for more profit making.

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