future of real estate?

[emmanuel ewumi]

Originally Posted by Oracle

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.

[emmanuel ewumi]

A house in Ajegunle can have 10 housing units of 1 bedroom. That house can accommodate more than 40 people.

[emmanuel ewumi]

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)

[emmanuel ewumi]

Originally Posted by emmanuel ewumi

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.

[emmanuel ewumi]

700,000 Lagos houses to get new numbers — The Punch - Nigeria's Most Widely Read Newspaper

[emmanuel ewumi]

Originally Posted by emmanuel ewumi

700,000 Lagos houses to get new numbers — The Punch - Nigeria's Most Widely Read Newspaper

I guess that is the number of viable property in the state, others might be in the slum.

[emmanuel ewumi]

Lagos State - Wikipedia, the free encyclopedia

[hispy99]

More on mortgage financing in Nigeria - The Punch - Nigeria's Most Widely Read Newspaper

[waaan5]

Originally Posted by Oracle

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

[waaan5]

Originally Posted by Oracle

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

[Oracle]

Originally Posted by waaan5

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.

[Oracle]

Originally Posted by waaan5

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!

[emmanuel ewumi]

[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.

[emmanuel ewumi]

Originally Posted by Oracle

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.

[Oracle]

Originally Posted by emmanuel ewumi

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.

[waaan5]

Originally Posted by Oracle

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.

Originally Posted by Oracle

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.

[Oracle]

Originally Posted by emmanuel ewumi

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!

[emmanuel ewumi]

Originally Posted by Oracle

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.

[waaan5]

[quote=emmanuel ewumi;146697]

Originally Posted by waaan5

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'

[Oracle]

Originally Posted by waaan5

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!