Asaba, the capital city of Delta State, Nigeria, has emerged as a promising hub for real estate investment, offering great opportunities for smart individuals and businesses.
As the city experiences economic growth and development, the Asaba real estate market presents investors with enticing prospects, such as great returns on residential and commercial properties.
However, to capitalize on the potential of this bustling market, you must understand the nature of the opportunities available and how to take advantage of them. That’s why this article discusses the overview of the real estate investment opportunities in Asaba and gives insights on leveraging them to grow your wealth.
Asaba Real Estate Market Overview
The city of Asaba is one of the fastest-rising real estate hubs in Nigeria. It promises great opportunities for real investors who can spot undervalued environments with great growth potential.
As the capital of Delta State, Asaba is a major economic hub for most Deltans, as people from different parts of Delta and the neighboring states move there for greener pastures.
The rising population of Asaba, coupled with its infrastructural development, government support, and strategic location, also makes it a hive of real estate investors in Nigeria.
Besides being the capital of Delta State, Asaba is close to Onitsha main market, one of the largest markets in West Africa, both in size and volume of goods. It’s also close to Lagos and other economic hubs of Nigeria, like Owerri, Onitsha, Enugu, Umuahia, and Benin.Â
Real Estate Investment Opportunities in Asaba
Here are real estate investment opportunities in Asaba you should consider taking advantage of:
Land Flipping
With a total area of about 300 square kilometers, Asaba has many lands in good locations that can be flipped for good profit.
Land flipping is a simple investment strategy where investors can buy undeveloped or underdeveloped land to sell it off for profit quickly. It’s one of the fastest ways of making money from real estate, as it requires little or no effort.
To profit from land flipping, you need to have good investment capital. This is because it’s a short-term investment strategy with little profits compared to long-term strategies like land banking, rental properties, etc.
However, you can start with as little as a half plot, then increase gradually until you can buy and sell acres and hectares of land.
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Land Banking
Unlike land flipping, land banking is an investment opportunity for long-term real estate investors. It involves acquiring and holding undeveloped land for future use or resale.
The model is as simple as land flipping. You simply buy large tracts of land and hold till the value appreciates over time.
With the fast-growing population of Asaba and the infrastructural development in the city, land banking is a great real estate opportunity you should take advantage of.
Rental Properties
The fast-rising economy and population of Asaba make it a top choice for individuals and businesses looking to settle in a viable economic location.
These individuals and businesses need houses, shops, office spaces, and more to lease. Therefore, the profit-making opportunity here is simple: you build residential houses, office spaces, retail shops, and other rental properties and put them out for rent. Then, people take them up and pay you rent monthly or yearly, depending on your agreement.
Rental properties in a busy area like Asaba present a good opportunity to make passive income throughout your lifetime. And as the properties appreciate over time, you’re left with more valuable assets to cash in or leverage to acquire other assets.
Open Space Leasing
Instead of buying lands and leaving them fallow until their value appreciates, you can profit from them by leasing them to individuals and businesses for makeshift use.
Mechanics, churches, car washes, and other businesses that work with temporary locations are willing to pay a monthly rent to use your land until you’re ready to use or sell it.
And with how busy Asaba is, this is a great way to make double the money on your property while waiting for it to increase in value.
Property Development
If you wish to make astronomical profits in real estate in a bustling city like Asaba, property development is the real estate investment opportunity you should put your money in.
It involves buying lands or properties, developing them into luxury apartments, commercial properties, office spaces, etc., and selling at almost double or more of the invested amount.
Property development can take various shapes or models, such as:
- Buying a land and building a structure on it
- Buying an old property and renovating, extending, or improving it
- Converting an existing property into something else to maximize its value.
However, property development is a capital-intensive form of real estate investment. In a place like Asaba, you’re sure to spend even more than you can in other locations in Nigeria.
Is Investing in Real Estate in Asaba Worth it?
As one of the fastest developing cities in Nigeria, considering its consistent growth rate in the past two decades, Asaba is a robust real estate investment hub. It is worth every money you can invest in it.
When you consider that real estate properties in the city will be worth more in the coming years, you’ll understand why many real estate investors are making Asaba their preferred investment location alongside Lagos and Abuja.
Also Read:
- Follow This Guideline to Own a Property in Abuja If You Live Abroad
- 10 Frequently Asked Questions By First-Time Property Buyers in Abuja
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Conclusion
Asaba has evolved as one of Nigeria’s top real estate investment locations, as it offers almost equal investment returns compared to places like Lagos and Abuja. Thanks to its growing population, infrastructural development, and favorable government policies, the city has even more potential for smart real estate investors to take advantage of.
Hopefully, this article has given you an overview of how you can contribute to the city’s growth and reap the rewards of its thriving real estate market.
To invest in our Asaba real estate offer, Ogwashi-Uku, Delta State, please, call +2348132794689 or send a WhatsApp message to +2348132794689.
