Nigeria is in West Africa, located south of the Sahara. It is just above the equator along the Gulf of Guinea. The importance of the land west of the African sub-region can not be overestimated, as it represents 45% of GDP in the regions.

The country operates a kind of democracy after the American system, with a President, Vice-President of the Senate, House of Representatives, state legislatures, the governors of states, etc.

In fact, in 2007, another election was held, and a new president sworn in

The climate is tropical with two seasons, the rainy season / wet – from April to October and the dry season from November to March.

40000000000 $ in 2005 – The Nigerian economy is primarily due to the presence of oil, our main export markets, which is used for almost 90% of sales in foreign accounts driven. Efforts are being made to diversify the economy by the government.

The population is estimated at more than 100 million people, and completed a census of March 2007, confirms this.

This part of the population (estimated 2001) age strata subdivided broken into 0-14, 3.71%, from 15 to 64 years, 53.47%, 65 + – 2.82%.

The oil and the dynamic economy of deregulation, the huge population and what this means in terms of a market for goods and services, virtually all major business associations are present or represented in Nigeria to the one or the other. – Shell, Mobil, Chevron, Total, Samsung, Peugeot, LG, Hyundai, Halliburton, Hilton, Sheraton.

Actually provide the telecommunications and oil industry is about 50% of expatriates in Nigeria.

So it goes without saying that Nigeria is a great investment objective by investing in real estate now one of the stations are. The huge population of over 100 million should be accommodated.

There are many real estate investment destinations in Nigeria, Calabar, Cross Rivers states of Kano, Kano, Enugu, Enugu, etc., but the three most important places where I focus on Lagos, Abuja and Port Harcourt to a lesser extent.

They will be examined for their potential residential and commercial, tourism and recreation, while properties are discussed in general terms and conditions of the whole country.

LAGOS

The former capital of Nigeria until April 1990, is located at the southern tip of Lagos Nigeria, with the borders of the Atlantic Ocean.

It is a purely commercial city hosting all office heads of all major organizations, ports and airports of the country.

The population is estimated at more than 10 million.

Of these, the statistics show that s are housed less than 20% of the standards of the United Nations.

Districts with more Prime property values ​​and are known as Ikoyi, Victoria Iceland and serves as the choice of residential and commercial neighborhood of embassies and diplomats, the expatriate community and executives of the largest companies in Nigeria.

The value of land here for $ 750 per square meter start for the acquisition of undeveloped land. It could be higher where there are the current developments on the site.

Rental values ​​here range from $ 40 000 – more than $ 100,000 for a 2/3/4 bedroom apartment / condo. The rent should be paid 2 to 5 years will be in advance of the occupancy of the apartment started.

Recently a new trend has emerged where the sale of these flats in U.S. dollars and the sale price of $ 400k to over 1.50m. Examples include the Admiralty Towers Apartments and Homes Ocean Parade time in Ikoyi. Most of these developments are in planning to sell the shortage and high demand for housing.

There are other areas of the Island, Victoria Garden City, Atlantic Beach Estate, Real Estate Goshen. They are goods with detached and terraced houses completed retail between $ 250,000 to $ 400,000. Annual rent of about 25000-50000 dollars.

These properties rarely stands suffer prolonged periods of emptiness, an indication of the huge pent-up.

Outside the island, real estate investment opportunities as high rental yields and capital dividends for the request.

PORT HARCOURT

Port Harcourt is Nigeria’s oil city as compared with Texas is known the United States.

As in Lagos, it houses the offices of some of the world’s largest oil companies and oil-service companies that keep them going.

With a huge foreign residents, the rents range from $ 25k to 50k for apartments over 3 / 4 bedrooms in an area like the (government reserved area) GRA known.

Many companies house their employees in real estate and as that which prevails in Lagos, Port Harcourt popular.

Market studies have shown once again that it is indeed a huge gap in the provision of adequate housing, which is why the few who is challenging the view command huge rental / capital values ​​shown, so that investors with very good yields.

COMMERCIAL REAL ESTATE

It is interesting to note that the first real shopping mall in Nigeria (Lagos) is open to 12 months. Known as the palm, it is an initiative of the real estate developer in partnership with Nigeria, South Africa. Let me say that Nigerians are used to shopping complexes – built commercial buildings, and sometimes several times converted to accommodate 10 to 30 stores a number.

The Palms complex is the first real European / North American style in the country.

Rents start at the Palms from $ 370 per square meter to $ 470 per square foot was paid recently by the Standard Chartered Bank in London. It is said that the rents paid for this event the highest in the bank in the world!

Obviously, every day, with a population of 10 million a daily turnover of about 5,000 visitors to 200,000 visitors on weekends and holidays, and hire such a large number, several shopping centers in the mode of the PALMS will be more than a sensible investment.

With respect to office space, are the most popular of the island and Ikoyi. An address that recalled to this city to a certain degree of class, professionalism and integrity.

The purpose built sales office a few blocks are in high demand with rents of $ 200 per square meter is as high as last year, $ 1,000 per square meter per year.

Given the high demand for commercial space on the island, private residences have been converted into offices regularly associated with the pressure on the facilities and services.

Annual rent could be asked to pay anything 80000-200000 dollars, depending on the size and accommodations in the property available.

Of course, these rents are paid in 2 to 5 years in advance.

It is fair to say that less than 30% of commercial organizations are housed properly and move like built into complex functional purpose.

Many state governments and regulators seek to reverse this trend, that the houses will be converted into offices.

Whether successful or not, there is still a huge market in many cities in Nigeria for the construction of office buildings.

Tourism / Leisure ESTATE

One of the areas of real estate which is not explored in the tourism and recreation.

Tourism, once overlooked in the focus of the records covered by the policy of the Federal Government and State and as well as private organizations.

From a figure of 1,350,000 tourists in 1998 in Nigeria has risen from 50% to 2.045 million in 2002 to over 3.603 million in 2005.

Although the major brands of hotels in Nigeria gradually bracing up to meet the increased demand, but the rooms are of international standards are still in very small quantities.

The international hotel brands are already in Nigeria – Hilton, Sheraton, Sofitel, Protea (South Africa), but the available statistics show that there are still fewer than 5,000 hotel rooms of international standards in this country.

As tourist numbers projected to rise further. Obviously there is a large gap and the potential for evolution of this industry.

Then there is the pleasant tropical climate of Nigeria and the near 880 miles of undeveloped coastline, with its potential for the development of a hotel.

In terms of leisure property, Nigeria has many golf courses, golf courses, but few that meet international standards – Abuja, Ikoyi to mention the best second The full engagement of all golf clubs, the country is still under 10,000.

Of course, with a population of potential membership of 2,000,000 golfer throws the market for investment.

Ikoyi Golf Club is actually in the Guinness Book of World Records as one of the busiest golf course in the world. Starting times must be booked several days in advance.

Finally, it is necessary to emphasize that the nation is not a theme park in the way of Disneyland., Alton Towers in the United Kingdom, Sea World of Florida, etc. With its huge population, Nigeria is a profitable destination for investors in this regard.

To invest in real estate, the government has facilitated the acquisition of disposal of land. All countries from federal and state land use under the Act in 1979, is one. While these have their own problems, but ensures that the land for development projects, especially now that there is a breakneck chase to catch up with the developed world.

Let me conclude, in all humility, because the economy of Nigeria has one of the highest returns on investments – real estate is one in particular.

The nation would be really pleased investors and there are a number of government authorities, leading to potential investors through the maze of investment.

Chudi UBOS leads a team carefully selected inspectors and support staff in UBOS eleh & Co, and one of the leading companies in the Surveyors Property Valuers with offices in major cities of Nigeria. For more than eighteen (18) years, UBOS eleh & Co. is firmly established in the market as a leading provider of real estate professionals to prospective customers.

To fulfill the services we offer to your specific needs assessments, real estate, project management and property investment advice are. Others are feasibility and feasibility studies, and construction and financial services.