Why demand for good housing is rising — Walztechs MD, Omobobola Olawale

Real estate in Nigeria is a serious business. As a matter of fact, one of the longest-standing industries in Nigeria is the real estate industry. The industry has become a goldmine over the years, and many smart entrepreneurs have tapped into it and are making tons of profits.

And in recent times, more than ever before, the demand for good housing has increased. And just as demand has increased many enterprising real estate companies with juicy offers have also sprung up, making the sector one of the most vibrant in Africa. In fact, according to available statistics, the real estate sector ranked the 5th largest contributor to the GDP of Africa’s largest economy in 2018.

And explaining the reason for the rising demand for good housing, particularly in Lagos, real estate entrepreneur and Realtor, the Founder and Chief Executive Officer of Walztechs, Omobobola Olawale alludes it to the rising population of Lagos and the inadequate housing.

According to him, “Lagos is an incredible city with inspiring people and wonderful places. The likes of Banana Island, Lagos Island, Ikeja, Gbagada, Ajah and others makes it a unique city. Statistics say that there are over 20 million people living in Lagos today. 20 million people? How many households are available for these 20 million people?… Let’s do some calculations.

ALSO READ: Adaobi Okonkwo, Ronke Edoho, Salimon Oluwatosin, others emerge as top 5 Instagram influencers of 2021

There is an average of about 2.5 persons to one household, with over 20 million people we should have about 8.4 million houses…but unfortunately this is not the case. In Lagos today, there are about 4.75 million houses available in Lagos. Look at that wide difference, the deficit for housing is too much and this is why the demand for good housing is increasing and the real estate business is growing richer…statistics also project that in the next few years, The Lagos population would double.

How wonderful is that? The best thing you can do to accumulate wealth is to work with the best Realtors with enough experience and the right knowledge on the best places to invest and establish a rich future.”

“Real estate is a form of investments and business as well. I see it as a generational wealth and the passive income and cash flow makes it a business. Investing in real estate does not require any particular entity, and some people even begin a real estate investment company simply in their own name as a sole proprietorship. Once you find financing and purchase your first property, you have the beginnings of a real estate investment company,” Omobobola Olawale

Omobobola Olawale established Walztechs in 2016 and has since undertaken projects across several States of the federation.

Omobobola is an entrepreneur as well as a professional with a knack for excellence and quality.

NIGERIAN TRIBUNE