Experts have said investment in Real Estate gives good returns on investment than most investment instruments in the country.
Speaking at its 2018 End of the Year programme of Brit Property Nigeria Limited in Lagos recently, the experts called for increased investment in landed and housing properties to fix the over 17 million housing deficits in the country.
The Guest Speaker, who is also the CEO, Brand Crafts Limited, Mr. Reuben Onwubuiko, while speaking on ‘Building Wealth That Grows With Real Estate said, majority of people who falls from grace to grass was because they lack investment mindset, when they could have converted the opportunities they had then by having streams of investment with the money they had then.
“When somebody is rich and now suddenly became poor, it means he had refused to create wealth because when you create wealth, though, you might be going through tough time, but your investment will serve as shock absorber. investment, especially in real estate, is germane to wealth creation, urging people to invest in landed properties since land always appreciates, making it a good investment option,” he pointed out.
To create wealth, he said, people must have the ability to assess risks and returns of their choices investment, looking at its returns on investments, payback value, saying, ‘Building depreciates while Land appreciates as time progresses. It is now left for you to determine the quantum of investment you want to commit into either or both.’
Earlier, the Managing Director, Brit Property Nigeria Limited, Dr. Bright Chimezie, advised private individuals to open up remote areas to make it easy for people to build, adding that, this is what his firm is trying to do, as it now has 12 Estates in its kitty.
Government alone, he said, cannot fix the huge housing deficit in the county, hence, the need for Bright Properties to come into this venture.
“We have about 13 estates in our kitty. We have two estates in Owerri, Imo State, We are in Lagos and before June 2019, we want to own a property in Ogun State. We, as Estate owners, will go to these areas, buy from the land owners, open up the areas and getting it developed for people to come and buy,” he stressed.
Chimezie said most people are afraid of buying lands because of land grabbers, noting that, his company’s properties are adequately secured.
‘Buying property from an estate is the best than patronisng ‘omo-onile’ who are in most cases dubious, while buying your land from us gives you rest of mind,’ he stated.
He stated that all its estate properties have a 12 month payment duration for any land bought.
At the event which was attended by the staff of the organisation and landed owners on some of its estate, one person won a plot of land, with several people winning discounts on lands, hampers and various consolation prizes.