Short-lets, real estate is the new oil — Tobi Misan Adegboyega

The managing director of Eko short-lets, Mr. Tobi Misan Adegboyega has said that tapping into the short-lets market is one of the most reliable investment choices a property owner can make.

The real estate investor said that he believes that owners of houses and properties are assured of making the best bet with their asset by keying into the unsaturated market as it will help bring balance to the housing supply chain crisis.

Adegboyega noted that with Nigeria’s expanding middle class and teeming youth population, the demand for short-let apartments will rise exponentially and there will be a need to service the necessities.

According to him, every period has had a commodity to serve the population in the past and with the growing number of millennials and Generation Z in Nigeria, real estate was the next move on the chessboard, just as the economy was opening to diversification.

“In the 1970s, we had oil driving the economy, it pushed us to develop as a society as it contributes a higher percentage of our foreign earnings. Now, that we are moving to a diversified economy, one of such available avenues is in real estate.

“The evidence and the numbers support this assertion. For example, Nigeria’s population is aiming to double in the next 30 years and with the migration to e-commerce and remote working, the use of workplaces that offer serenity and accessibility is not lost on those that can provide it.

“Real estate forecast show that a demand for warehouses, distribution centres, and other properties that allow e-commerce will continue to rise. Analysts expect that the value of the global investable real estate will in the next few years grow by an average of 5.2 per cent annually to exceed $85 trillion. So, if you are a property owner, we are calling on you to quickly jump at this opportunity to partner with us.”

He further said Eko short-lets will be open to partnerships that will offer attractive offers to both homeowners and clients.

“Our current client base can testify to how the arrangement works. We always place our customers first by providing affordable apartments while providing solutions to the housing market in Nigeria.The company also takes on other people’s property in a managerial capacity. These properties will be put up on its fleet of tastefully furnished apartments and they will be made up to fit into the standard of primus inter pares luxurious spaces, whilst retaining an almost pristine state, with owners of such property getting a percentage of the company’s income on a monthly basis without fail”.

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