Housing specialists have advised stakeholders to improve investment in the sector to mitigate existing deficits and create more affordable homes for Nigerians.
They spoke at the 2018 end of year programme organised by Brit Property Nigeria Limited in Lagos. According to them, investment in Real Estate gives good returns than other investment instruments in the country.
The Chief Executive Officer, Brand Crafts Limited, Mr. Reuben Onwubuiko, said to be able to fix the over 17 million housing deficits in the country individuals, public and private entities must commit more funds toward the sector’s development.
Speaking on ‘Building Wealth That Grows With Real Estate’, he remarked that majority of people who falls from grace to grass was because they lacked investment mindset when they could have converted the opportunities they had, by having multiple streams of investment with their money especially deploying the funds into real estate.
To create wealth, he said, people must have the ability to assess risks and returns of their choice investment, examine returns, and payback value. He observed that building depreciates while land appreciates as time progresses.
Earlier, the Managing Director, Brit Property Nigeria Limited, Dr. Bright Chimezie, advised private investors to open up remote areas and make it easy for people to build.
Government alone, he said, cannot fix the huge housing deficit in the county, hence, the need for developers and other well-meaning Nigerians to come into the venture.
He 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 patronising ‘Omo-onile’ who are in most cases dubious ” he stated.
The event was attended by the staff of the organisation and subscribers in some of the firms’ estate.