A real estate professional, Adetunji Adediran, has advised investors to see the current economic recession to invest in real estate.
Adediran, who is the Principal Partner at Diran Adetunji and Associates, spoke at the inauguration of RHF Apartments in Abuja.
He said “The Nigerian economy might be doing badly at the moment, but one thing I know with certainty is that there is hardly an economy that enters recession that will not bounce back. One of the things that cushion the effects of a recession is investment in real estate.
“Real estate investment is still the surest bet to wealth accumulation. Its value is ever-increasing and appreciating. When compared to other forms of investments, the real estate depreciation rate is very low. This is ideal for prospective investors to generate profit through rents or leases of varying lengths. It is all the more important that developers find new and quality local and international products and solutions. Government find avenues for supporting mortgage growth and improving lands regulations. Real estate agencies deliver holistic consulting services and quality customer service. Buyers are more exposed and educated about their options in the market as well as find creative bargaining solutions.
“These will pose advantages to real estate investment, even while the economy seems to be at a downturn.
“As real estate professionals, we ought to understand that in any economic downturn, there are opportunities. We only need to be creative to identify and leverage on the available opportunities.”
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