The best returns can be found in places where rental properties are in high demand, like Victoria Island, Ikoyi, Surulere, Lekki, Ikeja, Ajah, Yaba, Gbagada, Magodo, Maryland, and Agege.
Investors who want high rental yields should pay attention to the following:
Location: Properties in good areas tend to have higher rental rates, which can mean a better return on investment. Most of the time, tourist spots and business districts are good places to make a lot of money.
Type of property: Another thing that can change the yield is the type of property. For example, apartments usually bring in more money than villas do. This is because apartments are usually cheaper and more in demand, which makes them a good choice for renters.
Quality of the property: Well-kept properties with high-end finishes will definitely get higher rental rates and make a lot of money.
Current market conditions: When the real estate market is strong, rental prices are likely to be higher, which means more money for the landlord. On the other hand, when the market is weak, rental prices may be lower, which means that the yields will be lower.
There are a few ways to find the best places to rent:
Online platforms: Real estate websites have a lot of information about rental properties and their yields, which makes it easier for investors to compare their options and choose the best one.
Real estate agents: A good real estate agent can give investors useful information about the local real estate market and help them find properties with high rental returns.
Market research: Investors can do their own market research to find the most promising areas and properties. This could mean looking at data about average rental prices, trends in property sales, and signs of the local economy. Attend property exhibitions.
Property exhibitions: are a great way for investors to meet real estate agents, developers, and other experts in the field and see firsthand the newest properties and rental yields on the market.
If you want to learn more about Lagos market, email info@aanda-ng.com
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