If you are looking for the best places to invest in real estate in Nigeria for a high return on investment, this post is for you to read till the end. This is an amazing opportunity to make money and own a home at the same time, so it’s no wonder that many people want to invest in real estate in Nigeria at this moment in time. However, the problem starts when you don’t know where to start and how to choose the best locations for your money.
Lagos, Abuja, and Port Harcourt are the three Nigerian cities with the most potential for real estate investments, according to real estate developers and property agents on the ground.
This is due to the high number of affluent people in these cities and the rise in their disposable income, which in turn makes them more willing to invest in properties
10 Best Places To Invest In Real Estate In Nigeria
Questions, like What, is the best state to invest in real estate in Nigeria? or Which state is booming in real estate in Nigeria? are typically not appropriate.
We respond that it’s necessary to know that there are many states to invest in real estate in Nigeria. And it will depend on your finances and preferences to choose the best.
However, below are some of the Best Places To Invest In Real Estate In Nigeria.
1. Port Harcourt
Port Harcourt, Rivers State is one of the best places to invest in real estate in Nigeria. This is Nigeria’s most well-known business center. Located on its outskirts are plenty of high-end shops and restaurants where you can rub elbows with Nigerian elites.
If you don’t mind a very long commute, Port Harcourt offers all of these perks without any worries about safety or violence: it is located nearly 400 miles from Lagos. While modern, new construction dominates its downtown area, there are also neighborhoods that have yet to feel development’s touch.
2. Lagos State
Lagos is another best place for investing in real estate, especially in the new Lagos axis like Epe, Ibeju Lekki, etc. The city is growing very fast and land values are increasing every year.
Lagos is also one of two megacities, along with Cairo, Egypt, that has grown rapidly and will continue to grow as more people move into city centers in developing countries according to a United Nations report (the other being Kinshasa). By 2028 it’s estimated that 60 percent of Africans will be living in cities up from 40 percent today.
3. Benin City
Most of these lands are located within urban areas, making them more expensive. If you’re interested in investment, then it is better that you look at plots of land near a city.
Most land developers offer pre-designed units which also include furniture and fitted kitchens. Some homes also come with appliances such as fridges and washing machines.
This option can be quite profitable if you opt for resale since most people tend to sell their property when moving into another place or relocating.
4. Abuja
You might be surprised to learn that Abuja has over 12 million residents and is Nigeria’s capital city. The country’s development bank, and one of its largest corporations, are both located here. A wise choice for investing in real estate, Abuja is also becoming a center for tourism.
5. Oyo State
The Oyo State real estate sector is one of Nigeria’s fast-growing sectors and a viable place for you to begin building your investment portfolio.
If you have never invested in property before, but have some capital set aside, you should consider buying land or buildings. Here are three reasons why you should buy a property there
6. Akwa Ibom State
Akwa Ibom is one of Nigeria’s 36 states, located on Nigeria’s southeast coast. It’s known for its beautiful beaches and oil reserves.
The state of Akwa Ibom has a total landmass of 2,210 square kilometers. The population is estimated at 3.25 million people according to data from 2006 and its location makes it one of Nigeria’s most attractive investment locations with it bordering Cameroon, Equatorial Guinea, and River State.
7. Delta State
With close proximity to Lagos, Port Harcourt, and Onitsha, Delta State is also known as Nigeria’s Gateway. The state contains about 300 kilometers of coastline, with access to major sea trade routes.
It boasts one of Nigeria’s largest ports, the Calabar Port International Terminal (CPIT). Along with Ogun, Edo, and Ondo states and Rivers State, Delta contributes a third of Nigerian seaport traffic in foreign exchange earnings.
8. Ogun State
With a population of over 3 million, Ogun State is one of Nigeria’s most populous states. In its capital city of Abeokuta, you can find ancient rock carvings dating back thousands of years.
There are also lots of plantations for things like cashew nuts and rubber trees. The population density is only 19 people per square kilometer, which leaves room for growth without overcrowding.
9. Imo State
It is located on latitude 7.06 and longitude 4.36, bounded by Rivers State on its south-eastern side; Abia and Enugu States in its south-western section while Bayelsa State borders it on its north-western side. It has a total area of about 17,305 square kilometers.
The state capital, Owerri is located about 45 kilometers from Nigerian National Petroleum Corporation (NNPC) oil refinery at Warri and about 100 kilometers from Delta Steel Company Ltd.
10. Enugu State
Enugu is a major city in southeastern Nigeria, near its border with Cameroon. Enugu was founded as a mining settlement for workers of the Enugu Iron and Steel Company.
It is also known as The Garden City because of its great scenery. It has one of Nigeria’s largest markets, which attracts traders from all over West Africa. Its people are known for their hospitality and friendliness toward visitors.
Enugu has many universities including the University of Nigeria Nsukka (UNN), the Federal University of Technology Akoka (FUTA), Nnamdi Azikiwe University Awka (UNIZIK), and others.
Conclusion
With all of these factors, investing in Nigeria has become a popular prospect for many people who live abroad. Even if you have never invested here before, getting started is relatively easy and could provide excellent returns on your investment.
However, as with any country you are looking to invest in, it is always important that you do your research before choosing a place or property because what may be a good deal for someone else might not be a good deal for you.
