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Real Estate Investment Trusts (REIT) A REIT is a company that invests in real estate and distributes its income to shareholders e.g SkyeShelter REIT, UNHOMES/GMA REIT.

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  #1221 (permalink)  
Old 19th November 2012, 04:41 PM
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Default Re: future of real estate?

Quote:
Originally Posted by Oracle View Post
I said IF

But 1.5m houses small o! You sabi wetin you dey talk?
1.5 million houses is different from 1.5 million housing units.

I block of flats is a house, but it can have 4 housing units.

Last edited by emmanuel ewumi; 19th November 2012 at 04:45 PM.
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  #1222 (permalink)  
Old 19th November 2012, 04:44 PM
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Default Re: future of real estate?

A house in Ajegunle can have 10 housing units of 1 bedroom. That house can accommodate more than 40 people.
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  #1223 (permalink)  
Old 19th November 2012, 04:46 PM
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Default Re: future of real estate?

How many Houses are in Lagos as at December 2011?
2011 is a year that map and GIS experts in the Nigerian spatial industry would not forget in a hurry. It was the year when the Lagos State GIS project was launched with the fanfare and pageantry it rightly deserved.

In June 2011, the Lagos State Government made a profound statement that there were at least 1,194, 525 houses in Lagos. (see: 1.2 Million Houses In Lagos | P.M. NEWS Nigeria)
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  #1224 (permalink)  
Old 19th November 2012, 04:48 PM
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Default Re: future of real estate?

Quote:
Originally Posted by emmanuel ewumi View Post
How many Houses are in Lagos as at December 2011?
2011 is a year that map and GIS experts in the Nigerian spatial industry would not forget in a hurry. It was the year when the Lagos State GIS project was launched with the fanfare and pageantry it rightly deserved.

In June 2011, the Lagos State Government made a profound statement that there were at least 1,194, 525 houses in Lagos. (see: 1.2 Million Houses In Lagos | P.M. NEWS Nigeria)

My guess is close to it, I said 1.5 million houses.
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  #1225 (permalink)  
Old 19th November 2012, 04:49 PM
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Default Re: future of real estate?

700,000 Lagos houses to get new numbers — The Punch - Nigeria's Most Widely Read Newspaper
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  #1226 (permalink)  
Old 19th November 2012, 04:50 PM
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Default Re: future of real estate?


I guess that is the number of viable property in the state, others might be in the slum.
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  #1227 (permalink)  
Old 19th November 2012, 04:52 PM
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Default Re: future of real estate?

Lagos State - Wikipedia, the free encyclopedia
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  #1228 (permalink)  
Old 20th November 2012, 03:07 AM
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Default Re: future of real estate?

More on mortgage financing in Nigeria - The Punch - Nigeria's Most Widely Read Newspaper
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  #1229 (permalink)  
Old 20th November 2012, 01:52 PM
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Default Re: future of real estate?

Quote:
Originally Posted by Oracle View Post
Which government? The government that will leave after 4 years or max. 8 years? Omo, if you dey buy such thing, then you must have the legal firepower like Waaaan$$$$! Me, I no get and so I dey hide for my cocoon!
Bro, tell me wetin you go buy that has no iota of risks? Have they not told you how i was goaded into buying transcorp in the good ol days of obj and madam corporate nigeria?

But i must confess that the greed of ogn state on land matters too much na! Thank God we have not closed with the bank wanting to offload their real estate on that axis (to be in compliance with oga sanusi). na so money for enter bush
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  #1230 (permalink)  
Old 20th November 2012, 01:55 PM
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Default Re: future of real estate?

Quote:
Originally Posted by Oracle View Post
Yes, there is no land with title but getting government titles here is painstakingly slow! Govt should be involved in the processing of title deeds before people even pay for the land. How can you pay and then you go and register later. Why not govt. coming in and then processing the change of ownership from this landlord to this buyer and that becomes binding to the parties. We have argued this title thing before and I no get strength.

People will continue to be duped so long as the right things are not done.
There is no c of o for your area (rivers state) na. i have stopped chasing it for a small piece of real estate i bought in ph. thanks to 'abandon property' saga
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  #1231 (permalink)  
Old 20th November 2012, 02:02 PM
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Default Re: future of real estate?

Quote:
Originally Posted by waaan5 View Post
Bro, tell me wetin you go buy that has no iota of risks? Have they not told you how i was goaded into buying transcorp in the good ol days of obj and madam corporate nigeria?

But i must confess that the greed of ogn state on land matters too much na! Thank God we have not closed with the bank wanting to offload their real estate on that axis (to be in compliance with oga sanusi). na so money for enter bush
Yes I know everything has risk in it but everyone needs to know the procedure before embarking on it.It is riskier when there is no procedure on how to go about it.

(To the part in bold) Bros, you need to know when to say NO to certain things. Though the transcorp issue must have taught you a bitter lesson and I believe you must have learnt how to say NO even when it is your friend that is proposing such deal.
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  #1232 (permalink)  
Old 20th November 2012, 02:06 PM
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Default Re: future of real estate?

Quote:
Originally Posted by waaan5 View Post
There is no c of o for your area (rivers state) na. i have stopped chasing it for a small piece of real estate i bought in ph. thanks to 'abandon property' saga
Forget C of O in PH. Just hope and pray that they will not want to construct a dual carriage road where your property is located. They will slice and go!
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  #1233 (permalink)  
Old 20th November 2012, 02:07 PM
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Default Re: future of real estate?

[QUOTE=waaan5;146688]Bro, tell me wetin you go buy that has no iota of risks? Have they not told you how i was goaded into buying transcorp in the good ol days of obj and madam corporate nigeria?

But i must confess that the greed of ogn state on land matters too much na! Thank God we have not closed with the bank wanting to offload their real estate on that axis (to be in compliance with oga sanusi). na so money for enter bush [/QUOTE


They are following the steps of Lagos State.
You must obtain renovation permit before you can renovate your house in Lagos.

They believe the renovation will add more value to the property, and they want to partake in the in the windfall.
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  #1234 (permalink)  
Old 20th November 2012, 02:08 PM
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Default Re: future of real estate?

Quote:
Originally Posted by Oracle View Post
Forget C of O in PH. Just hope and pray that they will not want to construct a dual carriage road where your property is located. They will slice and go!

but why? Are they not frustrating real estate investment.
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  #1235 (permalink)  
Old 20th November 2012, 02:08 PM
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Default Re: future of real estate?

Quote:
Originally Posted by emmanuel ewumi View Post
My guess is close to it, I said 1.5 million houses.
No matter what figure you give, the main thing is the ratio!!!! You said 80% of houses don't have C of O. So 4 out of 5 houses built today in Lagos will never get C of O. That is the meaning! And this is not good.
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  #1236 (permalink)  
Old 20th November 2012, 02:11 PM
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Default Re: future of real estate?

Quote:
Originally Posted by Oracle View Post
Yes I know everything has risk in it but everyone needs to know the procedure before embarking on it.It is riskier when there is no procedure on how to go about it.

(To the part in bold) Bros, you need to know when to say NO to certain things. Though the transcorp issue must have taught you a bitter lesson and I believe you must have learnt how to say NO even when it is your friend that is proposing such deal.
Quote:
Originally Posted by Oracle View Post
Forget C of O in PH. Just hope and pray that they will not want to construct a dual carriage road where your property is located. They will slice and go!
Bro, I know. I am a calculated risk taker both within and without the shores. You win some, you loose some, but on a balance, you should come out smiling. That is my definition of business.
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  #1237 (permalink)  
Old 20th November 2012, 02:12 PM
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Default Re: future of real estate?

Quote:
Originally Posted by emmanuel ewumi View Post
but why? Are they not frustrating real estate investment.
People here are gamblers! They buy and sell! And if you are the last to carry the can[when govt. comes for development of that area], badluck for you!
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  #1238 (permalink)  
Old 20th November 2012, 02:14 PM
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Quote:
Originally Posted by Oracle View Post
People here are gamblers! They buy and sell! And if you are the last to carry the can[when govt. comes for development of that area], badluck for you!
Do you have an idea of properties with title in Rivers state.
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  #1239 (permalink)  
Old 20th November 2012, 02:16 PM
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Default Re: future of real estate?

[quote=emmanuel ewumi;146697]
Quote:
Originally Posted by waaan5 View Post
Bro, tell me wetin you go buy that has no iota of risks? Have they not told you how i was goaded into buying transcorp in the good ol days of obj and madam corporate nigeria?

But i must confess that the greed of ogn state on land matters too much na! Thank God we have not closed with the bank wanting to offload their real estate on that axis (to be in compliance with oga sanusi). na so money for enter bush [/QUOTE


They are following the steps of Lagos State.
You must obtain renovation permit before you can renovate your house in Lagos.

They believe the renovation will add more value to the property, and they want to partake in the in the windfall.
Bro, to be candid, I do not worry about the land charges of lagos state. you just pass it on ...

ogun state is a different game due 'maturity of the re market'
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  #1240 (permalink)  
Old 20th November 2012, 02:16 PM
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Default Re: future of real estate?

Quote:
Originally Posted by waaan5 View Post
Bro, I know. I am a calculated risk taker both within and without the shores. You win some, you loose some, but on a balance, you should come out smiling. That is my definition of business.
Ok..Nice strategy for people wey get liver!

Abeg I fit be your agent o! Any application required? Na just 8% I go collect!
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