Real estate is now the real deal. Following COVID-19 as investors have found refuge in it. However, venturing into real estate investment in Nigeria can be quite risky, especially when you are speaking with the wrong real estate agent or company.
Your choice of Investment in Real estate could send your profitable ambitions for your portfolio down the drain if you make the wrong move while choosing the wrong real estate agent, the wrong city, or the wrong time to either buy or sell. So if you are looking for the best place for real estate investment, you need to carefully look into the right location, population, development, and the right real estate agent to partner with.
WHAT ARE THE BENEFITS OF REAL ESTATE INVESTMENT?
Real estate investment is now acknowledged as one of the most profitable, popular, and steady ways to generate wealth, and it will remain so even in the next few decades. The reason being, when you own a house or property it naturally appreciates. It doesn’t matter if it is for use as a rental property to generate monthly income or by selling it at a higher price. An average profitable real estate investor makes more than $100,000 per month just by buying and selling properties.
Owning a property in Nigeria benefits the investor by providing ongoing income and tax benefits while the property increases in value. Inflation has no negative impact on those who own property in Nigeria. Instead of the negative impact, real estate investors make more money depending on the cost of housing.
But the most difficult issue is where to invest in real estate.
Benin, like every other major city in Nigeria was once rural and underdeveloped, but investments and urbanization have helped the city grow to the point where it competes now to be one of the most beautiful city in Nigeria.
For about 7 years, Benin’s boundaries have been shifting, and the lines of development are increasing at a very fast speed as its rental and purchase values increase.
From history, the people of Benin are friendly and accommodating to all tribes; their culture is in high esteem, which makes them never forget their origin, even when they travel abroad. Furthermore, urbanization has improved the state’s security and peace.
So why is Benin the best place to invest?
According to Benin’s Wikipedia, Benin has a massive land area and covers an area of 114,763 square kilometers. In 2021, its population is estimated to be approximately 13 million, making it the 4th largest city in Nigeria. Because the population is very important in real estate investment, investors can be sure that their investment will pay off.
Several investors have confirmed that investing in Benin really pays off because of their youth and the real estate companies in Nigeria that are pulling up massive ideas to improve the economy. Even foreigners and Nigerians are making it a tourist center to explore some of their historical places.
In contrast to most Nigerian states, there are several factors that make Benin ideal.
Perfection Real Estate Group + Benin Real Estate
Currently, amateurs rather than professionals are handling real estate. Although the Benin government has adopted reforms that favor land security, deposit and rent restrictions, and other issues. This is advantageous. Since investors from domestic and international countries who are less exposed to the scam phenomenon won’t fall prey to fraud. Without doubt they may now specify and place the obligations of the non-professionals involved in a real estate transaction. The new reforms have significantly decreased the number of litigation cases.
The Benin Market, which is accessible to many African markets, especially those in the subregion, is a significant asset for Benin. This is as a result of the government renovating the Cotonou port for improved management. This implies that making an investment in Benin entitles you to all the benefits of the market to which the port provides access, thereby improving opportunities for both the country and investors as a whole. All in all, making an investment in Benin gives you access to every market that the port serves.
Trade is highly established in Benin due to its enormous market. The city continues to welcome more and more Nigerians for business purposes. This enables investors to seize business opportunities and benefit from the enormous profitability the industry has to offer. Most visitors and locals in Benin are interested in purchasing or renting real estate. Due to its high level of accomplishment. The real estate industry is ranking 10th out of 11 potential future industries in Africa.
Real estate can make millionaires every day. You should take advantage of the opportunity that the real estate sector is offering you. This sector is booming all over the world and revitalized everywhere.
One of the top real estate companies, Buildzone Housing Solution, is working on the Edin City Project in Benin. The mega project was established and is scheduled to start construction in a few months. After extensive investigation and realization of the advantages the property has to offer investors and landowners.
Keep an eye out for our upcoming blog post to learn more about this initiative. The Edin City Project
If you are waiting to read up on our mega project in Edin City, comment below.