Student Housing Lagos Nigeria - Free Tips To Maximize Profitability
Student housing Lagos Nigeria - The student real estate market or student housing market is a huge market that is waiting to be tapped by smart Nigeria real estate investors. This may surprise you because most people have this belief that students in tertiary schools don't have money.
| Well, it is true that most Nigerian students in universities and polytechnics come from humble backgrounds and barely survive. However, there is something that humans cannot do without, whether students or non-students. And that is accommodation and feeding.
Housing and food are basic necessities. And for students to be able to read and pass exams, they must meet this basic needs to some extent. |
In simple terms . . . student housing is big business.
This is especially so considering that many higher institutions are jam-packed with students with student population of up to 20,000 students and more.
Not many people realize this. But those who do, are making a killing.
A good example of how to maximize your profitability from Nigeria real estate is exemplified in this scenario.
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A Nigeria real estate investor built a block of self-contain one bedroom apartment in a town-village adjacent to
University of Benin
Benin City. The name of the Village-turned-city is Ekosodin village.
The self-contain apartments were made up of one bedroom with a kitchen, toilet, and bath. This meant that each occupant had no business with the next occupant. It's like living in, say, a 2 or 3 bedroom flat where you had complete privacy. |
Uniben students liked the apartment design and its privacy so much that it became the place to be. Suddenly, the price jumped and more than doubled. But students didn't mind. It was still the prime location in this part of Ekosodin.
Before long, the news spread and many new residential student housing started to imitate this design.
Wow!
Who would have thought this expensive design will sell with students!
Don't forget, there were still poor apartments that the majority of students patronized. You have to understand that while the majority of students come from humble backgrounds and live poor on and off campus, there are the few who come from rich homes who will not accept anything but the best.
Bottom line.
The student population is segregated into market segments . . . the low income, medium income, and high income earners or high allowance students.
When you decide to build a residential student home, choose your target market. By carefully targeting the middle class of students, you stand a chance to maximize your return on investment.
Remember that even the poor students appreciate good stuff. When you strike the proper balance between price and quality, you hit the right cord with students and greatly increase the perceptive value of your property with students.
So, take a second look at the student housing market. Locate a student community where you could invest in housing for students. Assess the market and the potential for profitability.
This may be the opportunity of a lifetime if you look deep and hard enough.
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