It is an undeniable fact that real estate investment in Nigeria offers some of the best returns on investment (ROI) in the world. Several reasons contribute to this, which includes; a very high rate of rural to urban migration, a fast growing population, need for decent accommodation etc. However, all these has resulted in demand far outstripping supply. Based on the law of demand and supply, this has led to an increase in the cost of rent while investors in real estate keeps smiling to the bank. It is safe to say that real estate investment in Nigeria is indeed a goldmine that has remained inexhaustible for those who are into it.

Prime locations for real estate investment in Nigeria are Abuja, Lagos, Owerri, P.H, Akure, Enugu, Warri, Calabar, Kaduna and Asaba among others. Nevertheless, the ROI as well as safety of investment varies from place to place, so the investor would need to put all these into consideration when choosing where to invest.

In Nigeria today, the SE offers the offers about the highest ROI on real estate outside Abuja, Lagos and P.H.
In the same vein, Owerri and Enugu are the most lucrative cities for investors to put in the their money within the whole East.

Below are the five reasons why Owerri is the best location to develop a real estate in Eastern Nigeria:

1. Relatively high purchasing power; Imo state has the 5th biggest GDP in Nigeria, and Owerri is its only standard city which means that most of these cash flow revolves around the city which contributes to its relatively high purchasing power.

2. Large number of high institutions; At the last count, Owerri has not less than six high institutions within the city or its suburbs. This has resulted in an ever increasing demand for hostel accommodation by students and flats for staff. Many areas of Owerri like Nekede, Orji, Works Layout, Akwakuma, Iheagwa etc has lots of hostel buildings yet the demand for it has remained inexhaustible in these areas to such an extent that all the rooms would be snapped up even before the building is completed!

3. High flow of remittances; Igbos are in argue the most traveled Nigerians and they are known to always remain in touch with their root even if they are in far flung places Australia, Japan, Alaska, Russia, New Zealand etc. Most times they would like to spend time in Owerri whenever they return home and would choose to either build their homes or hotels in Owerri. This has contributed in making Owerri real estate sector to be very vibrant.

4. Centralized location; unlike it's closest rival, Enugu, that is located at the northern fringes of Igbo land, Owerri is located in central position which makes it easily accessible to both Igbos from all-over the SE and others from the oil rich but volatile Niger Delta region who considers Owerri as a safe haven where they could relax in a cool, secure and serene environment. This factor has also contributed to a high demand for both hotel and flat accommodation in Owerri.

5. Tourism; this factor is related to number 4 above. Owerri has gradually become a tourist haven attracting people from diverse places who now come into the city to conduct conferences, get-togethers, party or for clubbing among others. This is also one of the reasons why Owerri airport has remained the fourth busiest in Nigeria over the years now. People coming into Owerri from Lagos, Abuja, Aba, Onitsha, P.H and elsewhere within and outside Nigeria has led to a spike in demand for accommodation.

These are the reasons why you must invest in booming Owerri real estate sector now so you can continue smiling to the bank forever!!

Lalasticala or any other mod should please move this well researched article to the front page. Homepage does not have to be about politics and sports alone, property is also important please.

Worthy of front page