Nigerians need to see real estate as an investment, business opportunity

The Group Managing Director of Gasvine Properties Limited, Dr. Oziele Godwin has called on Nigerians to begin to see housing from the investment and business opportunity point of view rather than dwelling place alone.

Speaking during an inspection tour of the company estates in Lagos and Ogun state, Godwin said that an average Nigerian will easily tell you that land appreciates even though they may not understand the subject of appreciation.

“Many Nigerians see housing as just a dwelling unit and that is all they know. This is why many will quickly tell us when we meet them that the one I have, I have not developed it. Some say where I am staying is my house, I don’t need anything again.

“But with our persistence, we are gradually changing the narrative. To our credit and many other estate companies, many are now beginning to see real estate as an investment and a business. I believe it is a good progress. Nigerian real estate market has a lot of untapped potentials. The more many people understand real estate investment, the better for the market to blossom.

He said that investment in real estate did not require huge amount of money but commitment and determination, “I really believe that with what we are doing, one doesn’t need to break the bank before he/she ventures into real estate.

“With as low as N20,000 monthly, anybody can become a landlord in our estates. The time to wait to get money before acquiring real estate is over. The daily income earners with as low as N1,000 daily, they can buy. We have this popular quote: “Don’t wait to buy land, buy land and wait.” No excuses now. Any person, despite class or income group, can buy land now.

He added that the joy with what Gasvine stands for is that the medium and low income earners can also enjoy quality infrastructure with the super rich in any of our estates.

Godwin regretted that many non-professional have ventured into real estate which is responsible for fraud cases, “Due to the huge capital involved, many who have the financial muscle are most times not professionals.

“Most times they don’t have the patience to learn. They jump into it. When they can’t cope, they start defrauding people. Many know that real estate is rewarding, so they do everything possible to get in and start malpractices. We have a lot of fraudulent people in the industry and many have fallen victim.

“My advice to Nigerians is that they have to really investigate any real estate company they want to do business with before getting involved. People should stop patronising quacks and doing business on sentiments for those outside the country. Buy through a reputable company anytime you want to buy.” He admonished

Source:Vanguard