A great potential in the property rentals has been realized today. The increasing trend in property rentals in the commercial as well as residential segment, in cities like Owerri, Lagos, Abuja and more has increased in recent years. The capital value of property in posh cities has almost doubled and the interest rate on home loans is increased.
This has resulted in increase in the demand for rental property and has even refrained people from buying property. Here are certain pointers that you can take into account if you are planning to acquire property on rent.
RESIDENTIAL RENTAL TRENDS
• Those who have transferable jobs, Tier I and II cities have greater avenues for them in terms of rental flats/apartments or independent house. As this promises good rental on the regular basis, a good market for property investors is opened.
• Many a times in corporate sector, independent houses are taken on lease or rent for the senior executives. The popular choices in the recent years have mainly been fully furnished high-end apartments, terrace flats bungalows, luxury apartments, etc. and is even termed as a safe option.
COMMERCIAL RENTAL TRENDS
• These days investors mainly prefer to rent the commercial space instead of buying it. The purpose behind this is exemption of risk and it alleviates low maintenance. Properties available on rent in commercial sector include office spaces, malls, showrooms, shopping complexes, etc.
• Commercial properties like malls or office spaces are mainly on long-term lease agreements. It proves to be a wise investment decision in the end.
• Departmental stores have gathered more interest in the public as they boost of a strong electronic surveillance; hence, shop rentals have been considered as a secure and growth-oriented performer.
• Serviced apartments have considered being cost-efficient by multinationals in Nigeria. They are furnished apartments competitively priced than hotels and are available for short as well as long term, which ever suits you
Further, keeping an eye on the trends of property rentals will provide you good opportunities. You can even list your property to be rented on various property portals. In addition, to get more benefit in this sector it is advisable to be up to date with the prevailing rental trends in rental property in Nigeria
This has resulted in increase in the demand for rental property and has even refrained people from buying property. Here are certain pointers that you can take into account if you are planning to acquire property on rent.
RESIDENTIAL RENTAL TRENDS
• Those who have transferable jobs, Tier I and II cities have greater avenues for them in terms of rental flats/apartments or independent house. As this promises good rental on the regular basis, a good market for property investors is opened.
• Many a times in corporate sector, independent houses are taken on lease or rent for the senior executives. The popular choices in the recent years have mainly been fully furnished high-end apartments, terrace flats bungalows, luxury apartments, etc. and is even termed as a safe option.
COMMERCIAL RENTAL TRENDS
• These days investors mainly prefer to rent the commercial space instead of buying it. The purpose behind this is exemption of risk and it alleviates low maintenance. Properties available on rent in commercial sector include office spaces, malls, showrooms, shopping complexes, etc.
• Commercial properties like malls or office spaces are mainly on long-term lease agreements. It proves to be a wise investment decision in the end.
• Departmental stores have gathered more interest in the public as they boost of a strong electronic surveillance; hence, shop rentals have been considered as a secure and growth-oriented performer.
• Serviced apartments have considered being cost-efficient by multinationals in Nigeria. They are furnished apartments competitively priced than hotels and are available for short as well as long term, which ever suits you
Further, keeping an eye on the trends of property rentals will provide you good opportunities. You can even list your property to be rented on various property portals. In addition, to get more benefit in this sector it is advisable to be up to date with the prevailing rental trends in rental property in Nigeria
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About the Author: Eze Saviour
