Appraisal of Potentials of Housing as Investment tool in Nigeria
1. Nigeria proffers its residents a stimulating and vibrant but poor environment. Though, buying a property or real estate or a housing investment in Nigeria is not somewhat easy considering of its not so good lifestyle. In Nigeria, the property was divided into different categories i.e. residential market, commercial market, and industrial market. Varying upon the necessities of investors, an array of residential property selections are needed in Nigeria, like penthouses, apartments, villas, flats or even single-detached homes.
2. An immense advantage of investing in housing serves as an outstanding long term investments, yielding attractive profits. In view of the fact that Nigeria's property value is continuously increasing, investors can sell it at a price 20-50% higher than the sum for which it was purchased. Similarly, investing in residential property is a great way to earn safe income by renting out.
3. There are many factors that shape housing sector performance, but market forces (the interplay of supply and demand determines what people pay for housing and what they receive for their money) are the essential factors that affect housing sector performance.
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