2020 was in general one of the most challenging years not just for Nigeria but for Africa and the rest of the world. The Covid 19 pandemic resulted in limitations to large gatherings and therefore forced many companies to either downsize or completely close their doors. The consequence of all these is seen in lost of jobs, sources of sustenance and the overall economy struggling to maintain strength. 2021 has had its own measure of uncertainties as recently the crypto market just began to see a downslide as the world watches in pain. These uncertainties have made many around the world to ask a very simple but important question, what is the best investment option for our time and where is best suited for these investments?
Many options immediately come to mind as we ponder those questions and seek to find the best for our money. This article aims to open you up to what we consider one of the best options for investment especially in Nigeria. According to a 2019 World Bank report on population growth rate, the population of Nigeria has an annual growth rate of 2.6%, majority of which are 30 years and below. This is very large when you consider the fact that the Nigerian population is over two hundred million (200,000,000). What does this instantly convey, it is that the real estate sector in Nigeria will experience a boom in the coming years? With cities like Kano, Lagos, Abuja, Port Harcourt and Enugu already experiencing acute housing deficits, it is just the best time for you to launch in and establish your place in the fast growing real estate industry in Nigeria.
So what are the specific reasons you should invest in real estate in Nigeria in 2021?
Real estate investment stands as one of the safest investment options. This is true for many reasons. First, in times of high inflation or economic recession or depression, real estate invest serves as a solid backbone for the investor as its value does not depreciate. Take a look at Nigeria during the high hit period of the Covid pandemic, lands and properties either maintained their price tag or increased in price. You can hardly find and investment of this sort.
Real estate investment is your best option for retirement especially in Nigeria. As beautiful as pension schemes, we have had cases where pensioners die struggling for their pension. What you want is an investment that ensures that your retirement life is peaceful and enjoyed.
Real estate investing ensures continuous passive income for the investor: It comes to a point in the life of a man where he/she cannot be actively involved in generating income. At this time a man needs avenues for passive income generation. Real estate provides this in terms of rent, lease, outright sale etc.
Real estate investing guarantees a soft landing spot for your coming generation. Nigeria is a country where the government scarcely does anything to guarantee the future of the coming generations. So to exempt yours from the hardship time bomb of the future, you need to make these investments ahead of time for them
Finally, the reason you need to invest in real estate in Nigeria is because Nigeria is home. We will all come back home one day.