01/03/2021
2020 was the year of the corona virus COVID-19, so named because it started in 2019 but its impact continues in 2021. What does 2021 mean for the real estate industry?
The real estate market in Nigeria is booming. The reasons are simple. With almost zero savings interest rates, ever higher exchange rate, rampaging inflation and an unstable stock market, real estate remains a reassuringly stable asset and investment.
Insecurity
The security or otherwise of citizens and property is compromised nationwide. From the Boko Haram insurgency in the North East to cattle rustling in the South to the kidnapping of students and persons for ransom, the word ‘’insecurity’’ has become a catchphrase. To counter this insecurity there is high demand for properties in gated communities or estates that are seen to be security conscious and ‘’safe’’. Typically speaking, these have their own security personnel and vehicles for rapid deployment, enhanced access and visitor protocols, perimeter fencing and technological gadgets such as CCTV and walkie talkies.
One such estate is Bayview Estate a new development by Misa Limited at Ikate Elegushi, behind Enyo/Tastee at the 4th Roundabout on the Lekki-Epe Expressway. The 100-unit estate comprises four-bedroom terraces (68) and 3-bedroom flats (SOLD OUT) with 1 room staff quarters each. Facilities available in the estate include a clubhouse, children’s pool and a separate adult swimming pool, and a central generator.
Click here for more information on Bayview Estate
https://nigeriapropertycentre.com/for-sale/houses/terraced-duplexes/lagos/lekki/lekki-phase-1/704934-4-bedroom-terraced-houses
Next time we look at more trends in 2021 including offices and the fate of offplan developments in these uncertain times.
Mr Eguletu Akerejola
Marketing Executive
Tel: 08064150145
Email: [email protected]