Why it's Hard to Buy a House in Lagos 🇳🇬
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- เผยแพร่เมื่อ 7 มิ.ย. 2024
- Why it is Hard to Buy a House in Lagos? This video was inspired by my desire to own a home in Lagos. After all the research I came to a conclusion that it is hard to own a home in Lagos, not just hard in terms of coming up with the funds, but also finding reputable developers or real estate companies that deliver on what they preach.
I hope this video gives you an insight into buying real estate in Lagos Nigeria.
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Greed killed this country, 70 million for a house when the minimum wage is 30k.
The housing market in Nigeria is currently in a bubble, and I’ll even short it if I can.
It’s definitely going to end badly for all those investors taking loans to build over priced stock housing with sterile designs, void of nature and god forbid an organic community of people.
Most of these poorly built housing just sit there empty, gathering dust with no takers, while we have people dwelling in filth.
The current real estate market in Nigeria is designed to benefit greedy over fed thieves.
Let’s go back to a standard where hard working people get rewarded by the system overtime, who in in turn, build their own 🏡 🏠 out of prosperity.
Perfectly stated
The housing market in Nigeria is a scam
They’d rather build an estate with 3 dozen homes where maybe 6 of the homes are owned, another 15 are unsold and being rented to tenants, and the rest remain vacant, collecting dust for years.
You are on point. Rather than build houses for the middle to low class, which will even bring in more money for the investors, as middle and low class make a bulk of our population, they would rather build overpriced houses for the wealthy.
But it is their money, they have a right to use it as they want lol.
At the end of the day, they will drop the cost of the houses and cut their losses.
There are plenty of states to build cheap affordable housing and land like in Edo state, but some people sre running to lag to feel among spénding ridiculous amounts on a single house lol. Na their money Sha.
You can say that to the New Yorker
False; stop twisting facts to fit your propagated narrative.Just because you and your folk are failures doesn’t mean everybody else is too or that it’s the nation’s fault.
Nigeria has been experiencing rapid development across the board for years now and has one of the fastest growing middle classes in the developing world. GOD BLESS NIGERIA home to the richest and most most Independent, Wealthy, Progressive, Industrious, and cultured Black People in the world.
@@shangothunder1055 now repeat after me
🎶 since I was born
🎶 ogogoro in my blood
🎶 and I will never stop smoking my Igbo
🎶 …
Complete the rest by yourself.
Gosh!!! That first scene is breathtaking. Lagos is beautiful. Alfred Rewane/ Osborne is taking shape, lakowe golf course as well.
Thank you Alegbe.
My goodness, Lagos is beautiful. Well done my Naija brothers.. Great video brother. Thank you. From a very impressed South African
I live and work in England.
What they call "affordable housing" is NOT affordable to the "average" wage earner.
Bear in mind that the national "average" salary in the UK is £31k.
In London, for a FLAT/ APARTMENT, you'd need at least £40k to get a mortgage on a property worth £400k. That's 10% of the mortgage value. For a 3 BED TERRACED HOUSE, you'd need at least £50k, for a property worth £500k.
That's why most people move to the outskirts of London. Even then you'll need at least £25k to get a decent house valued at £250k.
They have "shared home ownership" models which are essentially a debt trap to lower income earners because you end up paying "2 bills" (rent & mortgage) to the Freeholder & Bank.
It's is all by design.
There are 600,000 vacant/empty homes in the UK and there are 274,000 homeless people.
Yet they tell us there's an "affordable housing shortage."
This is the depth of greed that essentially underlines capitalism.
Remove the "maximisation/greed" element and replace it with "optimization" and that would make capitalism a more equitable economic system.
You explained this BEAUTIFULLY! 👌🏾
I saw a house with a price tag 500k BP, somewhere in Birmingham, not even close to the city center, its was a BS. 4 bedroom and located in a communal location with no privacy....its so crazy out here mate.
@@sidex4
500k in B.Ham! You must be talking about semi detached or detached properties?
Yes, the property market in the UK is also inflated for a number of reasons all pertaining to greed.
The difference is that UK homebuyers have access to regular incomes, second jobs, loans and credit facilities etc. to fund mortgage applications.
For the Nigerian homeowner, it is mostly cash and carry.
@@PoliticalAtheist80 yea....definitely a semi detached.....yea, I get it, in nigeria, its catch and carry especially if you don't want to involve yourself with any of these mortgages (which i believe there are in nigeria currently, just like this particular one) however, to pay that money is a life time venture because even though they've got all these things you have mentioned, this is why people work to kill themselves to meet up these bills, except you have your own businesses, its really difficult to take up a mortgage like that and still live comfortably.
Well said
There are too many people in Lagos and there's a need to decongest while improving the quality of Infrastructure available to the people. There should be no street in Lagos that's unpaved and no house should be without running water and 247 electricity
It's sad that Lagos extracts so much tax from its residents but fails to give them world class infrastructure which it can afford with all the taxes paid by the residents.
It's also time they stopped concentrating new projects capable of drawing even more people to Lagos state. A new deep sea port in Lagos is a mistake. That deep sea port should go to Ondo state. A new airport in Lagos is also mistake.
There's a need to merge Ogun state and Lagos state with numerous highways and mass transit rail lines so that people can live in any part of Ogun state and arrive for work in Lagos with a 20 minute train ride. Concentrating every major development in Lagos is bad for Nigeria and bad for Lagos state
Agreed 💯👍👍
We have tooo many illegal migrants in lagos
@@Robio_scorpio What a load of rubbish??
Illegal immigrants??? From where exactly??
@@aframaco9491 it's not rubbish there are actually a lot of them taking up the space of small lagos and many of them do not pay tax and they benefit off the many locals who do many of them are from benin Cameroon togo , niger , chad , Ghana not sure u know that
@@Robio_scorpio It is rubbish! Any AFRICAN cannot be an immigrant in the largest Black nation in the world!
When South Africans torture us with their xenophobia, we don't like it!
So it works the same for other African!!
Your viewpoint is garbage!
Thank you Steven for shining some light on the amazing work we're doing in the real estate industry in Africa
The housing deficit will always be an unending maze as long as the infrastructure deficit in lagos continues to spike.
Nigeria is cool.... beautiful homes.... 🇰🇪🇰🇪
Thank you Kelvin!
Lagos have a very small land area with large population. You can get a decent land and home pricing in Ogun state in the outskirts of Lagos.
Your life will be miserable if u work in lagos mainland or island . Ogun wont be worth the stress
Or Epe From The Bale before those yeye developers grabbed all the lands from bale for cheap price and start selling it for higher prices.
I just bought 2 Acres of lands in Igbonla, In Epe Lagos from the Families of the village for N4.1 Million Naira Early in 2022. Around it are so many Estates Lands that are selling for N1.5 Million Naira. In July, My Brother Wanted to Buy 2 ACRES Around The Same Location, Less Than 6 Month, Those Bale Became So Greedy, They Double The Price To N800,000 Per Plot. Even though it is still OK.
@@ikecosmas8398 Most People Now Build Their Dream Homes In Ogun, Ikorodu, but rented a small place close to their job in lagos, go home on weekends
@@cocobutterchin6768 congratulations..buying from villagers can be stressful tho thats why people buy from estates
Hello My Brother I am originally from Senegal but living in U.S and Canada for 25 + years and looking forward to buying properties in Nigeria in particular in Lagos thank you for opening our eyes to beauty as well as opportunities in the mother land 🙏. God bless you and your family 💯
Hi Moe, we're looking forward to hearing from you. You can follow us on our social media for important updates.
I am a Nigerian that left Nigeria 30+ Years Ago With My Parent And 6 of my siblings in USA. Many of us living in Western countries will be able to afford this kind of development if they can give us mortgages up to 10 or 15 years with interest rates around 5%. My Property here is paid off mortgage free. Even though we can get mortgages here in USA up to 30 years, you can also pay that mortgage off in 5 to 10 years by your choice. That is what I did to pay off my mortgage here in USA
@@cocobutterchin6768 I agree and I think if there is a way to create a mortgage arbitrage between the Western Banks an most African countries you will be a Billionaire with a B Imagine of you could offer 5% to 6% for mortgage rate VS 17% and I was looking in Ghana and 12% is a great deal there. And they all say the same thing it's about the risk factor as if there is no risk in the Western countries with mortgages.
But there should be a system where before one buys the house one gets a professional advise to confirm the health and possible life span of the building.
One of the reason is very hard to buy property in Lagos, Nigeria is that the number of people staying in Lagos is more than 25 million people in Lagos alone. and Lagos has a small land scape. And another reason is that property are very experience in Lagos. And finally Lagos is were you can find the most expensive property in Africa. Thank you for sharing Steven you are doing a great job!!!
Not worth the price and hype
Are u sure
@@onimisilovesonmusic4548 Am very sure!
If Lagos is over crowded what's the size and population of Singapore? When did you conduct a census in Nigeria to ascertain the population living in a Nigerian city/state?
@@africanday7337 u are trying to create arguments that doesn't have base... lagos is exactly what he says it is ....lagos is also a center of excellence incase you don't know
Lagos is quite beautiful and it's quite profitable to own a home here too but how easy is that for legit hustlers? The landscape is not sufficient, hence the ridiculous prices and to top it all, the government?? Story for another day. God help this country.
You really hit the nail on the head on this matter. Kudos Steve!
I'm happy you're catching the information and the minds of your viewers, that's to tell me you're a good listener, keep it up going brother.
Yooo Shalom, 🙌🏽🕎🙇🏽🫂👋 Long Life Peace nd Blessings 🙌🏽 Thank you for the content, "Mowe Lagos 2013" can't wait to come back🤓😎🥁🪘🎸🎺
Hey brother, i really like the details in this video. Well done for the time you put into the research and not forgetting the work involved in editing. This is surely informative and educational. Cheers brother.
Thanks for this content....I'll surely share this video on my whatsapp status....
I'm looking forward to see more of real estate related videos from this channel
This is very informative, thanks for that
A very good job well done!
The strategy that Mixta Africa is embarking on to solve the housing deficit is completely genius. Well in the midst of adversity, the opportunities are far greater. Cheers🥂🍾 #Realestate #Africa
💪
@@StevenNdukwu 😁😎🥂🍾
This is very informative, thanks Steven 👍👍👀👀
Too many people want to live there, lack of greenery is also bad for good health.
If Lagos is outgrown there will be need for another city.
And then the same thing happens in Accra, Ghana.
Lagos like most Nigerian cities is badly planned if at all.
back with nice content
Awesome presentation Steven.
This video is very informative, thanks for sharing
Another banger in Rema’s voice
Lovely and insightful video but the conversation really centers around salary earners and cooperate professionals. Which is my problem with how things are structured here. A lot of Nigerians aren’t salary earners in the actual sense, not many people work in the corporate field, infact most don’t! . Many are self employed and now into non conventional fields eg content creators, influencers. Making a size-able income. I can bet these type of options may not be available to them. We need to start having options that cater to the unique work environment here and not modeled after the west.
True that… but of it Favors salary earners
Eg selling clothes in the marketplace, trading food stuff and provisions, okada, bus, keke marwa drivers, selling pure water for pure water companies, tailoring, cobblers etc
Nigeria has been gradually building all her wealth and development for years now from smaller scale infrastructure projects to mega scale projects like trains and Eko), Centenary City, Imperial international Business City, Ayimba Economic City, Orange Island, and Greater Port Harcourt City.
Nigeria will be in the top 10 largest economies come 2050-60. Nigeria has one of the fastest growing middle classes in the developing world. GOD BLESS NIGERIA home to the richest and most influential Black Man Aliko Dagote, and the most Independent, Wealthy, Progressive, Industrious, and cultured Black People in the world.
Nigeria's Rich are 99% Black unlike the other African countries who's wealthy are primarily White Colonist and Asian immigrants. All Nigerian businesses are native owned and expansive all over Africa.
Nicely done
Love this
The issue about the asking price is true. I am from South Africa and I have a Nigerian friend. He and I were once comparing property prices in NG vs SA and the asking price of Some if not most NG properties is just not worth it vs what you are getting. For a 1 million dollar property in SA you get a lot of house in a great neighbourhood vs in Nigeria,, needless to say, my friend hasd acquired a couple ofproperties in SA
that is not true, one million dollars in Nigeria can get you much more than SA , you just have to go outside Lagos, please take a look at Abuja real estate prices to understand this very well. I think if SA had more to offer Nigeria millionaires would move there in droves
@@idy1172 SA have better offering at one Million dollar in the big cities like Johannesburg, Cape Town, Durban, Pretoria, and in the cities like Mbombela, Polokwane, East London, Rustenburg, you get more
Wow......i think the mixta duo idea is nice
I just love watching your amazing videos
Thank you
Fine and clear video - clearly presented. It was a joy to watch. Thank you for the information you presented. To think some of us pay for this kind of information. GBY God Bless You all
Thanks for watching
@@StevenNdukwu what's the property tax rate in Lagos?
Good job my guy
I think that if the power grid/energy for the lighting system is guaranteed up to 24 hours each day there will be greater expansion in those areas also.
I just hope that through these forums the voice of the people can be heard.
Steven you have once again delivered a great video, this was very informative and helpful many thanks for sharing 👍
1)money laundry. e.g Mrs Ibeto had 18 houses on one street in ikoyi imagine what politicians do?
yes is very helpful brother
I will keep listening to your show until the opportunity is right for me....I must seize one when I'm ready....these schemes are the best way of owning a home without much stress.
💪
Thank you for this. We look forward to having you key into Duo or Mixta Flex soon
Nice video bro 👌
Watching from the video Nigeria could do alot in investing in property landscaping like how they do in South Africa..a lot of greenery goes a long way
Getting mortgage can also be a double-edged sword for people who'd eventually be out of a job. I'm guessing they charge interests too, which is out of reach to Muslims already.
The rent to own scheme - Duo is non interest and Muslims can key in
Muslims don't pay interest?
Lagos population is 23.5 million and the New York City metro area is 20.1 million. With Lagos having a larger population than New York, why aren’t land developers building more high-rise apartments/condos? Lagos is dealing with urban sprawl; a way to combat that is to build vertically, not “horizontally” with 3.2 million houses.
You have a valid point, but I think the majority of people would prefer to in their own house than to live in a high rise apartment.
Power outage is the major reason. Elevators need uninterrupted power supply. Unfortunately Nigeria is far from having steady power supply. Thanks to our government that has invested more than 8 billion dollars in power plants and was able to generate only 3500 megawatts of electricity
@@collinseseka5280 Ah yea that makes sense
Apart from the other reasons given here, the average Nigerian kinda prefers to own the land his house is built on.
😂 @Olumide, so that he can also farm on it and rear poultry sometimes lol
Good job
Nice one Steve, Mixta Africa is a reliable partner in real estate industry. I’m a realtor for high net-worth individuals and I’m currently in the process of concluding a land deal in their plug and play Adiva plain fields Lakowe.
💪
New York real estate is so expensive that a lot of buyers buy homes in the neighborhood of New Jersey where real estate is cheaper. I think Nigerian real estate developers should build houses in the neighborhood state next to Lagos where land is cheaper and build many fast highways from that state to Lagos so workers can go to work. Good luck.
pls just tell mixta to keep up the marketing strategy... cus I go come buy house soon from them on God🙏😂💯
Great video. You can buy land and build to your taste as well.
Nice
I hope to visit one day ❤
A lovely city!!
What we need in Lagos is high rise buildings but no light to power lifts etc
We have many estates all over lagos with 24/7 electricity. yet you think elevator electricity is the problem.
That'd be like giving gold to pigs. Nigeria as a whole doesn't have a maintenance culture. High rise buildings should be the least of our problems. Plus,it's not a sign of development.
@@AnnieSpecial92861 Lagos actually needs to build skyscrapers, the state is very small by land mass with a population of 25 million, that's hectic! More skyscrapers means more space for wider roads, rail lines, interchanges and parks. The population of Lagos will climb to 30 million in no time and will surpass Tokyo of 38 million.
The state government and private sector can collaborate to build skyscrapers and the government can subsidize it. These structures will have their own self generation infrastructure for electricity.
Lagos is congested because there are no enough wide roads and rails. Skyscrapers should be a priority.
@@AnnieSpecial92861 having skyscrapers is both a sign of development, at the same time it is not depending on the geography and demography. In the case of Lagos, skyscrapers are a necessity. As for maintenance, that is why the private sector must be Involved.
@@azeezedo-omozuwa1820 I'd love to see that in present day Nigeria. Lagos is overpopulated because other states have little to absolutely nothing to offer. If all the states were living up to their potential,lagos wouldn't be as congested as it currently is. Even in all it's glory,lagos is highly underdeveloped. Skyscrapers are not a bad idea and probably, if left in the hands of private sector that are not corrupt and up to the task, maybe something good can come out of it. I personally do not see skyscrapers as a sign of development. I think architecture should be influenced by the culture ,environment and the people. With present day Nigeria/Lagos ,a skyscraper would be impressive but out of place....My opinion
Lakowe golf estate is the most beautiful estate in nigeria the view is best.
Thank you very much
Lagos is not as expensive as Accra.. Trust me... Accra is way expensive..lagos is classic and yet affordable
How much is the most expensive house in Accra?
so what are you trying to say? they should increase the prices ? anu!
@Jakwano Ashur have understanding pls. Read and understand don't create unnecessary arguments. No one is talking accra ok he said lagos is expensive and i am saying lagos is not really expensive as compared to Accra or Abuja. So get it
The housing market is overvalued and wonder when the bubble burst. A $500.000.00 home in the east cost of America comes with about an acre of lot or more and the Lagos property doesn't have good public school nor all the amenities you would consider buying a house in developed countries.
Hi. The homes in Lakowe, what are their prices?
yes
Bros it is not hard especially compared to buying one in Europe or UK. Just have money
I love lagos
Hi there brother Stephen what do you think about The Makarios Luxury Place 500SQM plot for situated along Lekki epe express way ibeju Lekki and these are the prices 300 Square Meters Land: ₦33,000,000 ($47,200) 500 Square Meters Land: ₦53,000,000 ($75,800). What do you think? Would you pay for that for that location and price just looking for an input from a local? Thank you and keep up the great work!
Nothing like affordable housing anywhere in the world simple.
I don't think only Nigeria. My own cou try is same. Yet we don't see peoples jobs increase in salaries. I am so tired
Great ad, but these guys are still solving for their pockets as expected and the houses are still over-priced. Hopefully one day we would see developers who are willing to solve housing problem. E.g. 1 bedroom 8m to 12m. And 2 bedroom @ 16m - 22m.
Let them go back!
Is it Negotiable, for client rental.
All the interest rate are too high….how can you be paying 16 percent interest rate 😳😳😳
With the new train lines coming in, it won't be necessary to live in Lagos. This should minimize the need to live in Lagos, in NY people take the train and live up to an hour or more away from work. Just imagine with the train..
Hay quá
I wish you converted all prices in US dollars as well so we get an idea. Very beautiful
You can use the conversation of N640 to $1
You can use the conversation of N640 to $1
@@StevenNdukwu That is a black market rate where people who want to change 20, 50 or 100 dollars use, not office rate businesses use.
147k! Wow!🎈
São Miguel Quixeramobim Ceará
Wow
With our population if we can increase our middle class so it becomes the largest demographic of our population the otential that as for small busines and for even larger businesses with a increase in is disposable income we can bring a lot more investment from foreign businesses and investor's as well as home made businesses and investment.
Nigeria has one of the fastest growing middle classes in the developing world. Old news try a different record l.
@@shangothunder1055 😂😂😂😂 bro stop lying
Expensive Trenches
Steve, for how long do you expect this trend to continue, knowing that any political move can destabilize the community?
I saw a report talking about locations around the world which are in jeopardy of sinking and Lago's made the list; I believe it was Lagos Island, does it have a problem with flooding in that area?
The Lagos government as being building coastal barriers for this very reason. They know about it and are doing something about it.
Yes, especially lekki and some parts of Victoria island
Their grand idea was to BUILD on reclaimed land from the sea lol
@@goldenismonica1522 they also plan on building coastal barriers too.
not at all, our infrastruction is top tier and we have well built drainage systems.
South Africa has the best houses and nice prices not overpriced Lagos that's not worth it..
Your life must be really sad to come to a Nigerian video to cry.
Clown law of demand and supply their are richer people in Lagos than South Africa which makes prices go up 🤡😂
SMH
@@michaelanthony4949 still not with the price for real estate.. it's overpriced .. check other real estate in South Africa and compare
@@esthervanda7401 Nobody cares about those white built and owned estates in South Africa. Get the majority native Africans out of those rusty shacks first.
Anya ukwu nah egbu people in this country.
Dude which estate is that with lake beside the house and greenery
It's called lakowe lake estate
Lakowe Lakes Golf and Country Estate
@@MixtaAfrica what do you mean by country estate
Lagos (an overgrown slum) is only the New York City of Nigeria because of tribalism. The federal government refuses to put in place infrastructure (seaports, highways, rail etc) to foster development in other parts of the country for obvious reasons. A country of 220 million people, relying on Lagos, and many Nigerians will call you jealous when pointing out this madness, yet they enjoy going on holiday to countries that are actually functional. Do they go on vacations to countries like Nigeria?
Also Lagos doesn’t have a housing deficit, they have an AFFORDABLE housing deficit.
Most of the houses in Victoria island, Ikoyi, and lekki are sitting vacant and many of those people living there are even renters and not even home owners.
Failed State.
I was just ranting about the same thing!
U have some point but blame the state governors too,mind u lagos state inter state train i mean the blue line and red line project is a state project and not federal,the brt project too,our governors can start from improving our states road network and street lights,provide proper health care,pipe borne water etc put up quality structures that would attract investors,all these are functions of state government and not federal,the governor of akwa ibom has built roads all over his state including in the rural areas,the previous governor built a world class stadium and currently they are building what would be one of the best airport in Africa,also working on a seaport project,these are things that attract big investors and make your state competitive including improving tourism in the state,so our governors have a big role to play,am from Anambra and one of our past governor mr peter obi saved millions of dollars while leaving the office including returning our education to no.1 but his successor squandered the whole money and accumulated debts on top,that savings was for the future development of Anambra but the man never cared,now tell me,is it the fault of the federal that he squandered the money instead of investing it in a critical infrastructure development?????meanwhile Lagos state since 50's have been far developed more than any other place in Nigeria before we even have the independence,in as much as the federal have to do a lot for other regions of the country,let our governors do their jobs too,Joe Biden of us🇺🇸 can't go to fix road or water in Texas when the governor of Texas is there
I used to rant this way too. Until I understood a bit about town planning, human needs according to the Maslow's hierarchy of needs, the requirements for some level of productivity and the different reasons why we all invest in real estate.
How you see real estate is different from how a thousand others see it.
Locations are also not born equally whether they are born right or not is not the question for now.
Finally, when you live in some spaces, you may understand why some spaces had to be created the way they were.
chisom okeke
That’s always the excuse…blame the state government blah blah when most of what Lagos is enjoying today was laid down with federal money when it was the capital. Also many states don’t generate enough money to take on large projects and INTERSTATE highways are federal roads. State governments can only do so much like managing their intrastate infrastructure and possibly providing education, healthcare, and electricity to some extent but major projects needed to bring in the type of business/commerce that Lagos has cannot be done without assistance from the federal government. They’re too busy exporting electricity and building rail lines to Niger Republic. They do not want to do anything that will directly level the playing field and ensure people don’t have to travel far from home to make a decent living. There should be at least 5 additional major ports equal to that of Lagos along the entire coastline to start. That’s som alone will solve at least 50% of the problem.
52% of Nigerians are under the age of 18 and by 2050 Nigeria will be 400 million people. This is a ticking time bomb. This over reliance on Lagos will eventually lead to complete collapse and anarchy in Nigeria. Hopefully it will allow every region to go their way and focus on themselves.
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If you don’t have manners kindly get off my post
3.2 million housing units isn't even possible in Lagos, on which land lol? Except they build the usual bungalows and duplexes in Ogun State, or just build skyscrapers.
Amazing South Africa 🔥 woulcom to Asia I'm Cambodia 🇰🇭💚🇳🇬
Its nigeria not south Africa
Like all big cities, Lagos may have it's own fair share of problems but it looks beautiful nonetheless
Stop fooling who is taking about beauty
If you buy a house for $72 Millions naira how much can you get for rent?
No idea
@@StevenNdukwu Thank You for your honesty and dedication brother keep up the great work 🙏🏽
Over priced real estate.. not worth the money
Cost of land is the reason.
@@rotimikayode1072 still not with it.
Lagos is not overpopulated. By the time the Lagos blue and red metro rail lines are completed, Lagos central district will be decongested as the two rail lines will connect the less populated east and west of Lagos to the central area city.
14million for 1 house how much to build house for village?
U can't even see house for 14 million
Just hype lagos
Lol
@@esthervanda7401 I think there's something like that in this video.
@@esthervanda7401 Actually, we do have a house for sale at this price in Marula Park.
The =N= 267billion internal generated revenue you qouted, i think is quite low. According to the APC led Lagos State govt, they often boast of =N= 35billion/mth internal revenue and this is not adding the allocation from the monthly Fed allocations. The truth behind all this is greed, both by the property developer and the State govt.
Let me explain; if the LASG keeps truthfully to proper land use laws and regulations, in its master plan, i.e ensure the land use is developed by the land owner, for the purpose which it was bought for/meant for and not changed, home prices will not rise to ridiculous high levels. However, you will realise that illegal change of use of residential buildings for other purposes, in most cases - commercial uses, this jerks up prices of residential neighbourhood buildings as well. This is usually is the problem..i am 99% sure about this.
14 Million Naira is easy peasy????🤣🤣🤣🤣
😂
Do you know how many young black millionaires Lagos is creating every??
A lot
Steven Ndukwu, why do you always get your facts about Nigeria horribly wrong? There's a difference between minimum wage and average wage.
Would NEVER buy ANY property in Africa much less in Nigeria. Substandard materials, no Western standards (talking about proximity to WESTERN standard medical and educational faciltities, you will NEVER be able to sell it for the overpriced cost you purchased it for. I am a European living as a homeowner in the US. NEVER buy anywhere in Africa.
You can always buy land and build to your standard. That happens a lot outside lagos
@@basschuck9152
No. Let Anna stay where she is please.
Clearly you haven't been South Africa 🇿🇦
I don’t know why people think it’s expensive I can’t find places in the USA charging 200 a month in abuja u can get that don’t know about logos but y’all just poor
The country is becoming too "white washed" just like here in 🇺🇸 😪
Anyone who is super educated about the real estate market in Nigeria, Ghana, or on the east side of Africa, Tanzania, King here, Ethiopia.
Message me, email me, I want to bring you onto my podcast.
Hi bro
@@AkinEmmanuel Wassup!
@@voicesofvalueshow your mail
You can do invest-to-own if mortgage is not working for you @stevenndukwu.
I can tell you more about it if you want.
São Miguel Quixeramobim Ceará