Renowned entrepreneur and property developer, Bright Sekoni, who currently serves as the MD/CEO of Audacia Prime Realty Limited, has highlighted the promising investment potential of the Ibadan real estate market. Drawing from his extensive experience in the industry, Sekoni provided a comprehensive overview of the key factors that make Ibadan an attractive destination for real estate investors.
Affordability: Sekoni noted that Ibadan stands out in terms of affordability when compared to other major Nigerian cities. This affordability factor allows investors to maximize their returns on investment.
Growing Population: Ibadan’s rapidly expanding population is driving up the demand for housing, leading to increased property prices and rental rates. This trend creates a favorable climate for real estate investors seeking robust returns.
Promising Development: Sekoni emphasized the significant development occurring in Ibadan across various sectors, including infrastructure, education, and healthcare. These developments contribute to the overall growth and attractiveness of the real estate market.
University City: Ibadan’s status as a hub for multiple universities and educational institutions attracts a sizable student population. Sekoni suggested that investing in rental properties near these institutions offers a consistent stream of tenants and rental income.
Cultural Heritage: Ibadan’s rich cultural heritage and historical significance make it an appealing destination for tourists, thus creating opportunities for real estate investment in the hospitality sector.
Strategic Location: Sekoni highlighted Ibadan’s strategic location in southwestern Nigeria, positioning it as a vital transportation hub that connects various regions of the country. This accessibility enhances the city’s economic prospects and increases the demand for real estate.
Potential for Appreciation: As the city continues to develop and attract more investments, Sekoni anticipated that the value of real estate properties in Ibadan is likely to appreciate over time, offering substantial capital gains for investors.
Diverse Property Options: Ibadan offers a wide range of real estate options, from residential properties to commercial spaces. This diversity allows investors to select properties aligned with their investment goals and preferences.
Supportive Government Policies: Sekoni pointed out that the government of Oyo State, where Ibadan is located, has implemented policies to attract and support real estate investments, creating a conducive business environment for investors.
Quality of Life: Ibadan’s relatively relaxed and peaceful lifestyle, coupled with its green spaces, cultural attractions, and friendly community, make it an appealing place to live and invest.