Rent In Lagos In The Year 2050

[@catmou9225]

Hi Rabiu, fantastic analysis. Your predictions for the rental market in Lagos come 2050, is spot on. And sadly, you used the right word to describe what's coming, SCARY. And to be fair, Lagos is currently experiencing what is now becoming a global phenomenon of sky high rents and out of reach property prices. Take any major city, dig down and you'll find that almost every young person, young family,

[@meetthepropertyguy3156]

Rent in Lagos is just starting to climb, which is scary, the potential for growth margin is still very high, and that's bad news for tenants

[@livingmybestlife-v6v]

Dunno what to say but it’s not going to get cheaper.

[@meetthepropertyguy3156]

Definitely won't get cheaper

[@catmou9225]

and young professional struggles to afford to live within that city. They've almost all been pushed to the outskirts where rents are, for now, more affordable. But that option comes with the stress of commuting hours by public transport just to get to work on time. This is a new phenomenon that many Lagosians will be forced to endure, if their jobs are in Lagos. The good thing is, the train and bus services are improving, thanks to the foresight of the Lagos State government. I guess the lesson here is for investors. Get on the asset acquisitions bandwagon. Before it's too late.

[@meetthepropertyguy3156]

Even for tenants, they must jump on those outskirts early, because either they like it or not, that's where rent will chase them to

[@healthclassonline]

Hi Raby! I have been watching your videos and you are doing well. Please I have a property I want to invest into and it’s at Igbonla Epe Lagos. The estate is called Ideal Garden Scheme 1 . The realtor said it’s a freehold land. Please can you advise me, is it a good place to invest now? Thanks for your anticipated response.

[@meetthepropertyguy3156]

Well, if you have a high risk appetite, you can buy untitled land in Lagos, if your risk appetite is low, buy untitled land only in Ogun state or Ogun state side of Epe

[@healthclassonline]

Actually I paid NGN5m for 2plots of their commercial plots in Ogun Epe Okenla, but someone told me to upgrade to the plots in Igbonla Epe Lagos side. Do you suggest I keep the Okenla plots instead of switching to Igbonla. I was told igbonla will develop faster than Okenla Ogun Epe Lagos side. What do you advise please?

[@meetthepropertyguy3156]

Stay at Okenla, that's Ogun state, plus the one in Okenla they have started the c of o process, what's the benefit of Igbonla developing and then the Lagos state government announced you should pay 15m per plot for title regularisation

[@healthclassonline]

OMG!! I just made a big mistake . I should have contacted you before now. I paid NGN3m yesterday to upgrade to the one at Igbonla 🙆‍♂️ . I didn’t know this information you just gave me now. I messed up already. What do you advise I do? I know they will not agree to go back again

[@meetthepropertyguy3156]

Well this my advice, it will stretch you a bit, the Okenla commercial plot should be left as it is, the 3m goes to the Igbonla, and you balance it, that is now you are buying both Okenla and Igbonla

[@hakeemkareem3211]

The solution to develop and create jobs in other states so that the concentration in Lagos will be reduced. As much as people are flooding Lagos, real estate and rentals prices will continue to go up. It is purely based on demand and supply.

[@meetthepropertyguy3156]

This an alternative, however, places like Ibadan, PH, Abuja, Enugu, rent is not cheap in these places either, part of the disadvantages of industrialization and urbanization is an increased cost of living