Economic Recession: Now is best time to invest in real estate —Expert

A housing expert and Chief Executive Officer of RoxBury Homes, Udechukwu Emmanuel, has advised housing investors not to be dissuaded from investing in the real estate industry, due to the economic recession in the land, saying it is actually profitable now to invest massively in the sector.

Emmanuel made this stance known in a statement, where he emphasised that in times like these, real estate investors must “never take chances and let this opportunities slip by.”

He also added that investors must play active participation in the real estate sector, at a time when the value of land assets was low, and could in return get great returns for money invested very soon.

“One of the basic amenities that speaks volumes of the pattern of ‘settlements’ the world over, is housing,” he said.

“One of the problems that has bedevilled a befitting picturesque for a good housing that not just provides a haven for proper and decent housing, but also keeps the head above the rain and sun is proper housing.

“With the recent crash in the price of stocks and shares on the stock exchange market, as a result of the economic recession, particularly in the Lagos sub region of Nigeria, the housing dilemma which once had an accompanying bureaucracy of being financially inaccessible is now history,” he added.

According to him, “In the Lekki axis, where net migration is low as compared to the available housing inventory, buying or paying for a block of flats in such area could become goldmine for people who may eventually ‘cash in’ to become real estate developers and could eventually provide huge returns should the properties so acquired, appreciate.

“Besides such areas provide the best of commercial relevance becomes of its proximity to accessible roads and commercial enterprises.

“Asides these, one risk taking factor every prospective real estate investor and developer must consider is the propensity of the proliferation of businesses within such areas and the chances of making such a place on money spinning commercial demands which the Lekki axis could create on the long run,” he further argued.

Advising real estate investors never to take chances and let this opportunities slip by, he said “their active participation in real estates at a time when the value of land assets is low can not only spark off a-reducing housing cost, but could give them great returns for their money.”