The Nigerian Naira is facing some tough times, and experts are suggesting a unique way to protect your money – land banking. Yep, you heard that right! Instead of letting your cash sit in the bank and lose value, why not invest in land? That’s the advice from financial gurus who recently gathered at a Business Forum in Lagos to discuss the current economic situation and its impact on the real estate market.
They’re saying that despite the economic downturn, there are still opportunities in real estate. They’re talking about things like Real Estate Investment Trusts (REITS), house flipping, and even buying and fixing up old houses in up-and-coming neighbourhoods. It’s all about finding ways to make your money work for you, even when times are tough.
The Group Managing Director of Meristem Securities Limited, Mr. Oluwole Abegunde, had some interesting advice for investors. He suggested looking at areas near Lagos, like Epe and Ogun border towns, where land prices could shoot up by 61 per cent. That’s a pretty good return on investment, right?
And it’s not just about buying land. The Financial Analyst at Meristem Securities Limited, Oluwakemi Akinde, pointed out that residential real estate in areas with flexible rent reviews could also be a smart move. It’s all about finding the right opportunities and making your money work for you.
But why are they talking about land banking now? Well, it seems that the real estate market hasn’t been doing so great lately. While the overall economy has been growing, the real estate sector has been struggling. People are holding off on spending money on real estate because, let’s face it, when times are tough, buying a new house isn’t exactly a top priority.
The experts also pointed out some other factors that are affecting the economy, like weak consumer spending, rising inflation, and tighter financing conditions. All of these things are making it harder for businesses to thrive, and that’s having a knock-on effect on the real estate market.
So, what’s the solution? Land banking! By investing in land, you’re protecting your money from the ups and downs of the economy. And with the right strategy, you could even see some impressive returns on your investment. It’s all about thinking outside the box and finding ways to make your money work for you, even when times are tough.
So, if you’re looking for a smart way to protect your money, land banking might just be the answer. It’s a unique approach to investing that could help you weather the storm and come out on top. And who knows, you might even make a tidy profit along the way. It’s definitely something to think about, especially in today’s uncertain economic climate.