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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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  #1361 (permalink)  
Old 3rd December 2012, 06:02 PM
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Default Re: future of real estate?

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It sure is. Lagos state does't want us to exist on planet earth any more. It is high time somebody reads the Universal Declaration of Human rights particularly articles 15 and 17 to them. They are making living very painful for the vast majority.

The Universal Declaration of Human Rights
so how much did you want them to sell the land? privtate investor no go recoup im investment?
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  #1362 (permalink)  
Old 3rd December 2012, 07:47 PM
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Default Re: future of real estate?

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so how much did you want them to sell the land? privtate investor no go recoup im investment?
How much? Well according to oga Emma, 1 acre costs N1.2 billion i.e. N200 million per plot. What type of house are you going to build on a plot costing such an amount? By the rule of thumb the house will cost between N1 - N2 billion. Question is how many Nigerians can afford such a house? So, the land therefore is for the selected few (animal farm) not for even the middle class who are in the majority. My price for high brow area, virgin land I'll say at most N10 million.

The second question is not clear. Are you implying here that the rate of return on investment depends on the cost of the land?
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  #1363 (permalink)  
Old 3rd December 2012, 09:09 PM
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Default Re: future of real estate?

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How much? Well according to oga Emma, 1 acre costs N1.2 billion i.e. N200 million per plot. What type of house are you going to build on a plot costing such an amount? By the rule of thumb the house will cost between N1 - N2 billion. Question is how many Nigerians can afford such a house? So, the land therefore is for the selected few (animal farm) not for even the middle class who are in the majority. My price for high brow area, virgin land I'll say at most N10 million.

The second question is not clear. Are you implying here that the rate of return on investment depends on the cost of the land?
So maybe the land was not developed with the middle class in mind. There are many areas in many cities all over the world that are not meant for the "middle class".

According to the developer, this is a "multi-billion dollar" project. If this is true, how will he recover his "multi-billions" if not by charging to recover his development costs plus a return for the risk he has taken?
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  #1364 (permalink)  
Old 3rd December 2012, 09:57 PM
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Default Re: future of real estate?

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Originally Posted by pal View Post
How much? Well according to oga Emma, 1 acre costs N1.2 billion i.e. N200 million per plot. What type of house are you going to build on a plot costing such an amount? By the rule of thumb the house will cost between N1 - N2 billion. Question is how many Nigerians can afford such a house? So, the land therefore is for the selected few (animal farm) not for even the middle class who are in the majority. My price for high brow area, virgin land I'll say at most N10 million.

The second question is not clear. Are you implying here that the rate of return on investment depends on the cost of the land?
Guy, why you dey dream poor man dream? There are people in this country that make legitimately N10m daily, where do you expect them to stay? All fingers aren't equal and they never will be, just work hard to make sure you can afford the N1.2b land.
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  #1365 (permalink)  
Old 4th December 2012, 08:41 AM
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Default Re: future of real estate?

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Originally Posted by emmanuel ewumi View Post
1 acre of land will cost 1.2 billion Naira, that is roughly 8 million dollars.

The total plots of land at Eko City will cost 7.6 billion dollars, that is over 1.1 Trillion Naira.

Who go join money with me, make we buy an acre at Eko City?
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  #1366 (permalink)  
Old 4th December 2012, 01:21 PM
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Default Re: future of real estate?

2 Bedroom Bungalow in Kings Palace Estate, Igbesa | Property Nigeria | Ref: M2203
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  #1367 (permalink)  
Old 4th December 2012, 02:26 PM
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Default Re: future of real estate?

Bro, this your house fine o. But try and snap the surroundings so that we will know if it is just this house that is in the middle of a large expanse of land.
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  #1368 (permalink)  
Old 4th December 2012, 02:28 PM
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Default Re: future of real estate?

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Bro, this your house fine o. But try and snap the surroundings so that we will know if it is just this house that is in the middle of a large expanse of land.
That is no my house, it is about a minute drive from mine.
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  #1369 (permalink)  
Old 4th December 2012, 02:30 PM
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Default Re: future of real estate?

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Originally Posted by Oracle View Post
Bro, this your house fine o. But try and snap the surroundings so that we will know if it is just this house that is in the middle of a large expanse of land.

https://www.facebook.com/photo.php?f...omment&theater


This is mine.
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  #1370 (permalink)  
Old 4th December 2012, 02:33 PM
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Default Re: future of real estate?

Quote:
Originally Posted by emmanuel ewumi View Post
Sorry i'm not on facebook!
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  #1371 (permalink)  
Old 4th December 2012, 02:51 PM
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Default Re: future of real estate?

4 Bedroom Duplex in Magodo Shangisha G.R.A | Property Ketu & Surrounds | Ref: M5503
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  #1372 (permalink)  
Old 4th December 2012, 02:52 PM
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Default Re: future of real estate?


What is the rental income that can be derived from this property?
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  #1373 (permalink)  
Old 4th December 2012, 03:12 PM
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Default Re: future of real estate?

At N4million for this bungalow, is it not too expensive considering that it is in Ogun state or outside Lagos. What are the facilities in this bungalow.
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  #1374 (permalink)  
Old 4th December 2012, 04:40 PM
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Default Re: future of real estate?

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Originally Posted by emmanuel ewumi View Post
What is the rental income that can be derived from this property?
Maybe N5m per annum.
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  #1375 (permalink)  
Old 4th December 2012, 04:52 PM
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Default Re: future of real estate?

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Originally Posted by Oracle View Post
Maybe N5m per annum.
You go pay N5m? At most N2m
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  #1376 (permalink)  
Old 4th December 2012, 04:54 PM
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Default Re: future of real estate?

Quote:
Originally Posted by Oracle View Post
Maybe N5m per annum.

N5 million per annum for Mainland? I think that is too much. The highest he should expect is may be 3 million Naira.
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  #1377 (permalink)  
Old 4th December 2012, 05:10 PM
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You go pay N5m? At most N2m
N2m??? I will pay for 10 years!
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  #1378 (permalink)  
Old 4th December 2012, 05:12 PM
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Default Re: future of real estate?

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Originally Posted by emmanuel ewumi View Post
N5 million per annum for Mainland? I think that is too much. The highest he should expect is may be 3 million Naira.
This is a duplex man! Trans Amadi Garden goes for N2m rent but the place get comma(,)
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  #1379 (permalink)  
Old 4th December 2012, 05:20 PM
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Default Re: future of real estate?

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Originally Posted by Oracle View Post
This is a duplex man! Trans Amadi Garden goes for N2m rent but the place get comma(,)
If e like make e be spaceship it's located in Ikeja!
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  #1380 (permalink)  
Old 4th December 2012, 05:24 PM
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If e like make e be spaceship it's located in Ikeja!
It's cheap. That was what I meant compared to the rubbish T/Amadi Garden in PH.
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