THE INFLUENCE OF LOCATION ON PROPERTY VALUE

November 15, 2023by Riveton Homes0

INTRODUCTION:

In Nigeria’s real estate scene, where a property sits can make all the difference. The connection between a property’s location and its value weaves through the varied geography and economic situations across the country.

 

FACTORS INFLUENCING PROPERTY VALUE

 

1.PROXIMITY TO ECONOMIC HUBS: Nigeria’s busy cities act as economic powerhouses, and properties near these hubs tend to be more valuable. The draw of job opportunities, easy access to services, and the buzz of economic activities make these spots prime real estate.

 

2.INFRASTRUCTURE DEVELOPMENT: Good roads, reliable utilities, and efficient public transport – these are the lifeblood of development that can boost property values. Areas benefiting from such infrastructure improvements often see a direct rise in property values.

 

3.SECURITY AND SAFETY: Beyond the physical aspects, feeling secure significantly affects property values. Neighborhoods with strong security measures and lower crime rates become more appealing, emphasizing that peace of mind is a valuable asset.

 

4.ACCESS TO AMENITIES : Convenience is key. Easy access to schools, hospitals, shopping centers, and recreational spaces brings vitality to property values. Success stories across Nigeria highlight how being close to amenities can drive up property appreciation.

 

  1. SCENIC AND ENVIRONMENTAL FACTORS:

Nature’s touch can lift property values – whether it’s a calming water view or breathtaking scenery. With the rising interest in eco-friendly living, environmental factors are becoming increasingly important.

REGIONAL VARIANCES:

Nigeria’s different regions each have unique characteristics that influence property values. From the lively energy of Lagos to the historical charm of Ibadan, understanding these regional differences is crucial for investors and homebuyers.

 

CASE STUDIES:

In Lagos, the transformation of Ikoyi through strategic infrastructure upgrades illustrates how a location can turn into a real estate gem. On the flip side, the embrace of green living in Abuja’s Gwarinpa Estate shows the growing importance of environmentally conscious location choices.

Current trends in Nigeria’s real estate market suggest that the relationship between location and value will continue to be a significant factor.

 

CONCLUSION:

The impact of location on property value in Nigeria isn’t just a real estate aspect; it’s a narrative shaping communities . For investors navigating this terrain, understanding the intricate interplay between location and value is the compass guiding wise real estate decisions. In a country as diverse as Nigeria, one thing is clear – location matters, deeply and unquestionably.

Till we come your way next week with more real estate insights, goodbye for now from all of us at Riveton Homes & Properties. For more information on how you can start investing in real estate, kindly call us on 07042409999 /07042099918 or send us a DM on all our social media handles  @rivetonhomesng

 

 

 

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INITIAL DEPOSIT - ₦15,000,000 M
Apartment type
Outright
6 months plan
12 months plan
18 months plan
Studio Apartment
₦30,000,000.00
₦33,000,000.00
₦34,500,000.00
₦36,600,000.00
1 Bedroom
₦50,000,000.00
₦55,000,000.00
₦57,500,000.00
₦60,000,000.00
Standard 2 Bed
₦60,000,000.00
₦66,000,000.00
₦69,000,000.00
₦72,000,000.00
Premium 2 Bed
₦70,000,000.00
₦77,000,000.00
₦80,500,000.00
₦84,000,000.00
4 Bedroom terrace house +BQ
INITIAL DEPOSIT - ₦20M
Plan
Prices
OUTRIGHT
₦85,000,000
0 - 3 MONTHS
₦89,250,000
3 - 6 MONTHS
₦93,500,000
6 - 9 MONTHS
₦97,750,000
Register Interest
INITIAL DEPOSIT - ₦350,000
Duration
300 SQM
600 SQM
OUTRIGHT
₦990,000
₦₦1,900,000
0 - 6 MONTHS
₦1,089,000
₦2,090,000
6 - 12 MONTHS
₦1,237,000
₦2,375,000
Other financial Considerations
1
Development Fee
300 SQM: ₦750,000; 600 SQM: ₦1,500,000
INITIAL DEPOSIT - ₦10M
Duration
1 Bedroom
2 Bedroom
OUTRIGHT
₦35,500,000
₦45,000,000
0 - 3 MONTHS
₦35,500,000
₦45,000,000
3 - 6 MONTHS
₦39,050,000
₦49,500,000
6 - 12 MONTHS
₦40,825,000
₦51,750,000
INITIAL DEPOSIT - ₦1,500,000
Duration
250 SQM
300 SQM
500 SQM
600 SQM
OUTRIGHT
₦4,750,000
₦5,500,000
₦9,500,000
₦11,500,000
0 - 3 MONTHS
₦4,750,000
₦5,500,000
₦9,500,000
₦11,500,000
3 - 6 MONTHS
₦5,225,000
₦6,050,000
₦10,450,000
₦12,650,000
6 - 12 MONTHS
₦5,700,000
₦6,600,000
₦11,400,000
₦13,800,000
ALL FEES INCLUSIVE
INITIAL DEPOSIT - ₦15,000,000 M
Apartment type
Outright
6 months plan
12 months plan
18 months plan
Studio Apartment
₦30,000,000.00
₦33,000,000.00
₦34,500,000.00
₦36,600,000.00
1 Bedroom
₦50,000,000.00
₦55,000,000.00
₦57,500,000.00
₦60,000,000.00
Standard 2 Bed
₦60,000,000.00
₦66,000,000.00
₦69,000,000.00
₦72,000,000.00
Premium 2 Bed
₦70,000,000.00
₦77,000,000.00
₦80,500,000.00
₦84,000,000.00
INITIAL DEPOSIT - ₦2.5M
OTHER FINANCIAL CONSIDERATIONS
INITIAL DEPOSIT - ₦20M
Duration
300 SQM
600 SQM
OUTRIGHT
₦30,600,000
₦61,200,000
0 - 3 MONTHS
₦30,600,000
₦61,200,000
3 - 6 MONTHS
₦32,130,000
₦64,260,000
INITIAL DEPOSIT - ₦10,000,000 M
Apartment type
Outright
3 months plan
Boys Quarter (BQ)
₦19,900,000.00
₦21,392,000.00
Studio Apartment
₦39,900,000.00
₦42,892,500.00
1 Bedroom Apt
₦59,900,000.00
₦64,392,500.00
2 Bedroom Apt
₦69,900,000.00
₦75,142,500.00