Imart Realtors | Real Estate In Abuja, a Boomimg Business With So Much Opportunities For Smart Investors.
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Real Estate In Abuja, a Boomimg Business With So Much Opportunities For Smart Investors.

Abuja real estate investment money

Real Estate In Abuja, a Boomimg Business With So Much Opportunities For Smart Investors.

There is a saying that one of the best places to buy Land anywhere in the world is Lagos, Nigeria (some of the most expensive Lands in the world are found in Lagos). Do you know that Land in Abuja is also a great asset? That’s right! Real Estate in Abuja is a boomimg business and one that holds so much opportunities.  Abuja occupies about 8000 square kilometres, while the Central Business District (also called Central Business Area which is regarded as the core business area) in FCT covers about 250 square kilometres of this. From the city centre to the satellite towns and other parts of FCT; Land in Abuja is an asset worth owning.

Since the 90’s till date, Land in Abuja has been appreciating greatly. Some plots of Land in Abuja have appreciated about 3 to 5 times their initial value in the past 5 years. This is a trend that will continue in the near future as the forces of demand and supply continues to push the prices of land and properties in the FCT higher than expected.

The demand for land in the FCT continues to increase as more people and business move to Abuja. Most ministries have moved from Lagos to Abuja since the capital of Nigeria was moved to Abuja in 1991. This has attracted several private organizations, striving to have a presence in Abuja given the central role the federal government plays in the economy.

LAND ADMINISTRATION IN ABUJA

The Land Use Act (LUA) Cap.202 (Laws of the Federation of Nigeria), 1990, governs all land in Nigeria. The law vests all land comprised in the territory of each State (including the FCT, excluding land vested in the Federal Government or its agencies) solely in the Governor of the State. The Governor of each state holds the land in trust for the use and common benefit of all Nigerians.

The FCT Act vests all the 8000sq. km. of the FCT landmass in the Federal Government. That means the powers to administer land in the FCT are powers of the President (who may delegate his powers to the F.C.T. Minister). Since there is no Governor in FCT, all land titles is being issue by Minister of FCT, being the leader of the Federal Ministry of FCT.

The common titles of land in the FCT are Certificate of Occupancy, Right of Occupancy, ( R of O), Statutory R of O. Like in other states in Nigeria such as Lagos, you will not hear Land titles like Right of Occupancy, ( R of O), Statutory R of O.

LOOKING TO INVEST FOR HIGH RETURNS…

One of the amazing thing about FCT Abuja is that almost every land has been earmarked for a particular housing type. I mean as you are buying a land there is specific type of house you must build on it depending on the area. This is why the FCT is well structured/planned and beautiful. Thus when you are buying land in the FCT, you will see an advert like this:

*500sqm plot at Lugbe – 4 bedroom duplex. Price N5Million. Is the land that is selling for N5Million, not a 4 bedroom duplex. Thus, it is expected that you build a 4 bedroom duplex on that plot of Land once acquired. You can buy the land for investment and resell later for good return on your investment, that is if you do not want to build on it. But whoever will later build on it must build 4 bedroom duplex, because that is the plan as spelt out by government. In some occasions, there might be a specific prototype you are allowed to follow when building in such areas. But most areas you are allowed to build any design you want, provided it must be 4 bedroom duplex, as the example I cited. I believe you can now see one of the reasons why Abuja is so beautiful.

Thus, if you are really interested in making cool money via investing in real estate in Abuja, permit me to recommend so fast developing areas where you will get huge returns on your investment in the shortest possible time. With as low as N400,000 you can acquire a plot of Land with C of O in Abuja. Amazing isn’t it? Remember, you cannot go wrong with real estate investment because it’s been tested and trusted unlike other forms of investing.

You may be wondering, but I don’t stay in Abuja, how can I go about investing in a place I know nothing about? Wow! In this day and age, where with the click of a button, you get all the information at your fingertips, that shouldn’t be an issue at all!

Secondly, you don’t have to limit yourself by been in a particular location all your life. To succeed in this current economic situation, you just have to diversify. As the population is increasing, you just have to play big in the real estate section because the demand for housing is increasing, the earlier you start positioning yourself, the better for you and your generation. Why did I say that? Your real estate investments is what your kids will inherit, not your certificates or job.

Thank you for taking out time to read this far. If you got value from this, do well to like, share and comment below and if there is a topic you would like us to discuss, do well to state it in the comment session as well. If you know anyone who would benefit from this also, do well to share with them. Thank you once more.

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