Nigeria in Crisis: Nola, Akintola & Blessing Expose Dubai Property Nightmare and Cheap Real Estate!
ฝัง
- เผยแพร่เมื่อ 2 ต.ค. 2024
- ALARMING REVELATIONS!
In this hard-hitting episode of The KK Show - Key to Keys, Nola, Akintola, and Blessing dive deep into Nigeria's dire survival situation and reveal shocking truths about the real estate market. This is a must-watch for anyone involved in or considering real estate investments!
TOPICS COVERED:
- Nigeria's Survival Mode: The current economic and social challenges facing the country.
- Dubai Property Nightmare: How Nigeria's national ban almost cost investors their properties in Dubai and what this means for Nigerians buying properties abroad.
- Hazards of Cheap Property: Why buying inexpensive real estate can be a trap for many diasporans and the devastating consequences of these risky investments.
- Other Critical Issues: A deep dive into more pressing topics affecting the real estate market and investment landscape in Nigeria.
This episode exposes the harsh realities and potential pitfalls that could impact your investments and financial stability. Don’t miss out on these crucial insights from industry experts.
SHARE YOUR THOUGHTS:
What do you think about the current state of Nigeria and the risks of cheap real estate? Join the discussion in the comments below!
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WHAT DO YOU THINK?
Join the conversation in the comments below. Do you agree with them? How do you think these issues will shape Nigeria's future?
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Listen on Apple Podcast:
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Thank You!
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Love your videos sis! Very insightful and helpful for a diasporan to understand the market! All confidence building! No pun😂 GBN - (God Bless Nigeria)
With real estates in Nigeria, the more you look, the less you see.😂
Exactly…the more you look..the less you see with basically everything in Nigeria…..will rather stick my money in foreign real estate and wouldn’t sell to go buy or build in Nigeria for rental cash flow or for resale…it’s a nightmare and the profit margin is not really guaranteed…it’s all a make believe nowadays like a scam with the banks and developers trying to milk the systems…how many % of Lagos population can afford to buy this homes except for the few get rich quick people on the street and in government
Essentially developers are suffering a drought and are looking to the diaspora to keep them afloat. If you have been in the diaspora for a while, you would have only seen the naira fall against the dollar so don't let anyone tell you now is the best time. When you have dollars, anytime is the best time. No sentiments
True 👍
Truth is most Nigerians are not trained to be critical thinkers. We are mostly very emotional and sentimental people , and that includes me.
I’m sorry I don’t fully agree. investing abroad is better than investing in Nigeria. the currency is not stable enough to invest.
2 years ago, the dollar to naira is N550 and now its N1650 that’s absolutely ridiculous. You guys are building houses in hopes that Nigerians in the diaspora will come home and invest millions but only come home ones a year for 2 weeks to enjoy. Nigeria Developers are not building houses for the average hard-working Nigerians.
Also before you guys say I don’t know what I’m talking about I own 2 houses in Nigeria and what I’m paid yearly is not enough for me to pay my bills a month in United states.
Great show but im not convinced.
Foolish way of thinking. The u.s standard is not the same. Yes you make more in salary but majority of it goes towards bills. More money doesn’t mean cheaper rents or less bills.
@@Tseboy237 moral of my rant. if i invest the same amount and buy just 1 property to invest. i will make profit every months. if my profit is $500 a month. thats about 800,000N a month. and thats a basic house Oooo.
if are a nigerian and live in nigeria please invest in real estate 100% but if you are a nigrian that lived abroad please dont. if you want to move back then buy a house when that time comes. they building houses every day in lagos.
I LOVE NIGERIA
@@zai2.0 what can $500 do for you in the u.s with. Family of 3? 😂😂😂😂 have you ever been to the U.S?
I'm pretty sure they explained this point of view. Nola said, use your Naira investments to solve your Naira challenges. Changing from Naira to dollars is an instant loss and it comes with a shitty gut feeling. I get what you mean though and I'm not sure it will ever change. Maybe the Naira will be less than 1k eventually. That's everyone's hope.
I will not invest in Nigeria real estate unless I want a three bedroom house in the village. If you have an investment property in Ikeja, the most your tenant can pay you, that is if they can pay is 2-3million a year, which is the median for majority of the people, convert that to USD which is where you made your money, it is just pennies compared to the cost of buying and maintaining it, besides, Nigerian tenants do not have any respect for other people’s property, evicting them is a piece of work. Let those who live in Nigeria invest in Nigeria.
Please you people should be the biggest jokers ever. You want folks to buy N500M house on a N10M land in Epe. Ekushe.
A salesman job is selling.....lol. Everyone on this panel are sales people.
Invest wisely.
Agreed only invest if you don't care about losing value when converting. Think of it like a luxury car.
Thank you ooooo….its like comparing Abuja to my Hometown of Iwo when comparing real estate investment growth and profit in Nigeria to England or USA….all this guys are poor salesmen trying to coined some investors or purchaser into believing in all this grammar on numbers…
Sorry but anyone expecting the Naira to appreciate is wasting time and doesnt understand how FX market works. Its indirectly LINKED to the credit worthiness of country a.o., well ask yrself, would you lend to Nigeria? There is yr answer. Until we work out our foreign reserves and curb inflation, it will continue to decline. TIP, as inflation increases, this means the value of the currency decreases. what inflation like now and what the future anticipation? Its only logical it will hit 2000 soon.
My thought exactly. While the rush😊
“ Your country is your Country” that is very funny. You guys don’t know what the heck you’re talking about. So Nigeria is a country. I have tried that crap before, built properties in Victoria Island 10yrs ago to sell, I got burnt and lost money. I should have invested that money in Milton Ontario and made incredible returns. Any diasporan that wants to invest in Nigeria is taking a monumental risk. Dangote nearly had “Nigeria” happen to his refinery and we will see where his saga ends.
Looking at the comments from people.. you guys better wise up and don’t put all your funds/ capital on projects in Nigeria with diasporas as your targets.. nobody wants to take any risk with thier hard earned money for a country that put them in the situation they are. Most of this targets struggled their way out of the country. Like you said you are either rich or poor. And what you are building is never for salary earners… my advice to you guys who I also believe are doing wonderful job should stop building for now and observe too.. put your capital back to treasury.. don’t go and be stranded ooo .. please safe yourself and family from avoidable stress.. which I believe the stress is starting already by you sitting down this long for this podcast convincing people who will never be ready indirectly to come to your aid on already invested capital and loans… remember when Nigeria mater hit the big fish DANGOTE himself, we saw him granting more interviews in a week more than he ever granted in his entire journey to the level he attained before 2024. Think ooo😅😊
Very nice interview and great insights from this great developers. I hope Blessing can learn to be calm during interviews like this.
After watching this, I would say there is no real estate business in Nigeria it is only buying and selling
Nigeria is one of the worst nations to do business. Where are the economists? How did we go from a strong economy too where we're now? I'm 68 and will never build anywhere in Nigeria.
We do have same mindset 1:56:55 I enjoyed every bit of this podcast
Lagos market is easy for you guys because you guys are not regulated or watched. You take money from anybody regardless of their source thereby causing inflation in Nigeria.
On one end they said the prices of real estate now are discounted from pre-covid. What you buy for $ 500,00 is now $250,000, yet on the other end they said real estate will never go below and you can't lose your money. Make it, make sense if you have bought pre-covid for 500,000$ and it is selling now at 250,000$, haven't you lost your money ? .... I don't know if i can trust the Nigerian market until there is a sense of direction with y'all leaders and a stable exchange rate..
Good morning sir, I believe you don't live in nigeria and there are better opportunities outside pls don't talk down on nigeria, if you don't believe in her good, but stop shaming the nation. I still believe in nigeria stop talking down and creating panic in the hearts of those reading
They also said this is something Nigeria has never seen where the exchange rate is changing like this. It will end this is chaotic times. Also you earning niara so spend and keep it in Nigeria. Cost of living is low goods and services why are you converting back to something else.
@@femiojuolape2875 talking down and reality are two different things. I only repeated what was discussed in the video. The fact I don't live in Nigeria doesn't mean I can't share my opinion especially if y'all are trying to sell your products to people outside Nigeria. If they wanted only Nigerians within Nigeria to invest they should stop mentioning dollars and diaspora then we would not even watch the video. Y'all are just bunch of hypocrites that don't like honest criticism, e go better e go better being over 6 decades yet things keep deteriorating but you keep voting for the same dead beat rulers and thinking things will change miraculously. If you don't want me to have an opinion on your videos next time don't mention dollars. Nonsense and ingredients...
@@warrydud what are you even talking about? Did you even watch the video , are they not converting back and forth during their conversation? Who is earning in naira ? Do you even know me ? . If your targeted audience are strictly those in Nigeria then make it obvious and I would not bother having a damn conversation or opinion about the video but if you are trying to sell to those that value and work hard for their money then be ready for informed consents and criticism...
Truth is if u are a naira earner, now is the best time to invest in real estate in Nigeria, but if earn in USD/GBP, anytime is the best time. Don't be pressured as diasporean
Mr Blessing though knowledgeable and savvy in his trade was slightly annoying with his constant side comments 🙂
omo the side comments ehn, my goodness....
Nigerian developers, why do houses keep collapsing in lagos? Cutting corners?
MY ADVICE: If you are Nigerian in the diaspora, NEVER INVEST IN NIGERIA. Invest in the USA, UK, and Canadian markets. Even the Saudi Arabian government realized the stability and growth these markets provide and is investing in the UK and USA markets. Invest on a solid rock, Nigeria is on sinking sand, literally.
Mr Akintola stood out for me...welldone sir
The real estate business in Nigeria is driven by corruption and money laundry locally and the diaspora community. Real estate business at the moment is a nightmare with borrowing cost at 30%, depreciating exchange rate, inflationary pleaseure and government sumalsulting policy all contributing a perfect storm of turbulence in real estate investment in Nigeria. My advice purse, wait and see.
Good point and that’s the fact and nothing more to it….this is all fabricated market figures for those who are not clued up.
If you have over 20 properties in Dubai. Why didn't you get a proper residency?
I’m asking the same question… I’m working with Emaar as a concierge I know for sure property owners are issued residency visas… golden visas in most cases, these perks comes with the property you’re buying with Emaar group
Great show and analysis. Weldone to all
This podcast was tight!
Thank you
Could have been a great listen if the youngest guest developer wasn’t struggling to explain and get his points across.
In 2019 i invested $150k in building appartments block,the renting is coming but the value of the yearly rent income is refuced to 30% due to exchange rate,we could only increase rent to like 20% but still the value keep decreasing due to exchange rate,only god knows which year i will recover my money back talkless of the gain. Sad😔
Would you say the same thing about a car you bought and value keep decreasing. Also in America don't forget you can't afford a 400k plus house, to acquire you pay taxes than you pay broker than you pay crazy bills than fix up. American houses has invisible bills with crazy interest. 400k becomes 1million after 30 years.
You build to sell, not build to rent. If you must build to rent, do commercial real estate.
It’s going to be another 40 years for you just to recover your money back less profit….if you had invested your $150k cash in some certain parts of the USA real estate game, you would have made your money back plus profit in 12 months and just make more money back from rental cash flow monthly if you’re also renting rather than outright sale after few months doing fix and flip
@@warrydud…bruv you’re completely wrong here on the American real
Estate or Uk real estate game….you can invest $150k in the American real estate either fix and flip or resell and you don’t need to earn a huge income to do all this deals only if you know how to do it legally. I would be willing to mentor you for free on how to go about this in either USA or UK if you do have what it takes…remember you don’t need $200k/$300k or $400k to start real estate investment in either USA or UK and you can start making money back right away from your first purchase. Reach out and would be willing to share some knowledge with you
@@enod9746…even building to sell right now in Nigeria is still a funny situation. The numbers are not authentic as been pushed out by most of this people
Regarding the banking finance the guy in suit mentioned. Which is equivalent to what they called mortgage in the US. This is awesome! I actually thought Nigeria real estate been had it because Ghana real estate been had for about 3 years now. This is really Good. I know couple of real estate companies in Ghana that actually have that option. You oay a certain % and the bank pays the rest and you pay back to the bank monthly of every 3months. It's a good deal. I have been looking for real estate companies in Nigeria with that option.
This blessing guy is annoying...always interrupting the other speakers
This is my guy Akintola Weldon brother in fact all you guys thumb 👍👍👍
Very informative
This episode is cooked
Anyone will have also thought it impossible for the naira to fall to N1700 few years ago. Point is, invest across board with caution.
I took advantage in 2020 today am grateful i did. Thanks to gracias company's. Home is the best place
Lucky u. 2020 was the best time to invest all over the world. But everybody has their time. No time is too late. I encourage people to invest. Gucci bag will take u nowhere. Stop hoping you will retire on your children.
@@ighomercy5024my dear friend you are so right ✅️ I have friends who regret all that luxury life. I was laughed at years back when I was investing back home. Today am proud 👏 of my self I did
You cannot carry concrete in the morning and go and carry gun in the night 😅😂😂 what this guys name pls?
I am very glad to hear people talking the trtruth about Nigeria people who live in reality not hiding the truth and talking nonsense
You guys aren't talking about your government improving the real sector to relax the pressure on your currency. The naira hasn't started its depreciation.
This is very . They should expose their own real estate in Nigeria . With your cheap things you call luxury and you put outrageous prices..
They are building craps and selling at exorbitant prices.
Sounds like business to me. Dior produces their bags cheaply at $50 and sell it for over $2500. This is how business works. It is up to the consumers to demand better products for the price they pay.
@@dipojones lol 😂 it’s not business, it’s extortion and since you mention Dior let me educate you . They don’t produce their bags with low quality $50.. naChina Dior be dat ..Europe isn’t Africa where you just hype price anyhow pay $2500 for a $50 product dem go close your shop..The bag you pay $2500 will last a life time and still have great value .. Not the stupid houses this ones will carry local street carpenter to do kitchen cabinets call it luxury. You buy a house for $500k after 2months many things start falling apart . People like you are the reason our country is bad . Carry that $500k buy house for Cape Town or Joburg see the great quality you will get . With easy access to shopping mall . Lay park for kids . Oak flooring and many more . Not the crap they call luxury because finger Dey open door 🚪
So build it yourself 🤡
@@warrydud 😂 sure thing & it’s the best if you have $250-$300k . Only first time buyers & people like you fall victim or may be you be one of the dead ass real estate agents.. 😂😂
Fantastic show! It is nice to see people in the industry speaking very honestly about what is taking place on the ground. I think this content cut into small sections could do very well on Tiktok.
Considering that a lot of developers in Lago are still awaiting their planning permit despite having paid for it… Is it advisable to go ahead and purchase properties from developers who have paid for their planning permit but yet to receive final approval from the government?
It wouldn't be a good idea, as the permit can be declined or zoning modified, thereby affecting your property.
Very dangerous.
Wow
I for talk but I go just watch...
Thank you Eden
Awesome podcast, awesome edition. I learnt a lot. God bless you all.
Get the editor to clip up your videos like he does t the start and post it as shorts.
Point of correction sir at 4:17. A lot of that money that was supposed to be loaned out by NIRSAL during COVID never got to the beneficiaries. Godwin Emefiele is currently answering for what happened to those monies. Most of the so-called agric intervention loans went to the rice farmers and the default rates are....well, the CBN can tell you how much they have recovered. But kudos to you...that your N5 billion playbook with the FMDQ credit facility was a marvel.
Simple advice , don't buy house in Nigeria.
Lol So where should you buy? If we're not to buy in Nigeria
@@ChuksEdoziuno... Spain, Slovakia, Croatia, Poland and Portugal.......House prices in Lagos is crazy
@ChuksEdoziuno hold your investments in western world.
@@Superpius91 lol Have you calm down to reason why the prices are like that
The truth, there is nowhere around the world that the real estate market is cheap, quote me wrong if there is. The real estate market are all the same everywhere around the world even in this places you mentioned, go to Dubai, houses are not cheap there, even rental properties are overpriced, go to US the same.
The problem we Nigerian have is that we don't appreciate good things and we have a high esteem of higher expectations with low budget. seeking luxury with 10 naira, when these developers are struggling to secure funds to build these projects, when they are struggling to buy materials to build this projects and they even do the highest of it all that the govt is supposed to be providing for them which is building drainages and paving roads in their estates.
Tell me why it won't be overpriced
@@solaolurin4404 lol, even in Nigeria right now, the biggest real estate buyers are the people in diaspora
why did you think that is happening?
Very informative .
School drops out selling house
Are you referring to the people on this table? If so, you clearly don’t know them at all. These are graduates and oil and gas gurus before retiring to start their businesses.
👍
Please, stick to a day you upload. Shifting from Sunday to Wednesday is disrupting. Let's know when you will be posting your KK - be consistent with the day, not just the content itself. Thank you.
Very informative. Great Job Confidence. Great Job Eden Oasis
5 minute introduction
Please how do I get in contact with these guys for the monthly payment plan, I never knew there was such in the Nigerian market
Hello. Please feel free to call any of our numbers in the video description for enquiries.
Everybody is shouting for Lagos because other States are under-developing. Trust me, Lagos becomes insignificant if those Governors are not stealing.
Take Note, Lagos will not become insignificant. You can take your investment to state now, no one is stopping you.
Kindly, take your investment to your state and stop hating, Lagos state.
Amazing session
I’m enlightened
Housing GAP that you all focus on only those who have N100M upwards. You all are just wicked. 1,004 you guys have never tried to replicate.