Could the high US Dollar to Nigerian Naira exchange rate be a reason for the sudden increase? Nigerian homebuyers are flooding the Atlanta housing market and paying top dollar. Within the last few years, the state of Georgia’s housing market has successfully attracted international investors especially from China and Australia; however, one company, Lux Property Investment Group (LPIG) is reporting remarkable success in sales to homebuyers from Nigeria since the end of last year, 2014.
Atlanta is well known as an epitome of homes of superb architecture. More positive factors are the reason why Nigerians, like other international home buyers are now more interested in exploring Atlanta’s housing market.
The city of Atlanta is home to the World’s Busiest Airport and Top Fortune 500 companies such as; UPS, CNN, Delta Airlines, Coca Cola, AT & T, AFLAC, etc. Atlanta is the Number One Rental market in the U.S. (Forbes Magazine) it is considered the fourth best city in the U.S. to invest in (CNN Money). It is one of the least costly cities in the U.S. to do business and considered the Premier growth city in South Eastern U.S. Most Atlanta homes are priced below market Value; hence, a homebuyer can build instant Equity. There is always a waiting list of tenants, so Tenant Placement is guaranteed.
The tenancy laws highly favor landlords. It assures High ROI with guaranteed security of investment. The market favors “all cash” purchases. Atlanta has a great mix of renowned colleges and universities. You will typically pay less for a four bedroom single detached family home in Atlanta than you would for the same of its kind in Lekki, Lagos. With this, then I guess it is enough reason for Nigerians to consider getting an Atlanta house. It’s surprising that the number of Kirkland Homes For Sale in Atlanta haven’t significantly dropped due to number of Nigerians buying houses. i suppose you could say this is a huge positive to the Atlanta property ladder, with there always being options for people to move if needed.
Gone are the days when Nigerians used to think that the process of buying a home in the U.S. was rigorous and impossible because of costs!
Source – Naija247news