Why commercial properties offer more financial reward than residential -CEO, Dis Space Ltd
Emeka Okonkwo, chief executive officer of Dis Space Limited, has explained why commercial properties offer more financial rewards than residential properties.
“The high rate of growth in a number of residential developments and concentrated housing in the urban areas is only a mirage that is encouraged with Real Estate being the safest place to hold money in the present Nigerian economy,” Okonkwo stated during a recent media parley held virtually.
According to him, understanding the dynamics of letting and rental properties in the Lekki Axis of Lagos, holds that co-living; a community living concept for like-minded people to live, work, and play together is more profitable given that there has been a massive shift in what tenants want.
He stated that with an annual return off the purchase price between nine percent and 14 percent, depending on the area in Lekki, the current Nigerian economy, and universal inflation rate keeps commercial real estate at top rank of viable real estate investments unlike residential home properties that only appreciates at one to four percent at best.
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Focusing on a targeted age and social bracket and following with housing deficit currently experienced in the Axises, he said there is a rise in the trend of coliving.
With a proven success in investing in a few, he offers a one-on-one guide to supporting and encouraging new investors toward this kind of commercial real estate investment in Nigeria.
He is currently creating a digital guide on investing in commercial real estate in Nigeria he has attended many podcasts and real estate investment-related interviews where he still holds this notion with proven analysis.
With a REIT (Real Estate Investment Trust) as a vehicle to drive investors to DIS Spaces, he has upcoming projects to keep proving this fact especially to people living in the Diaspora like himself.
“As a hospitality-related service, we aim at delivering a work-life balance accommodation and workspace to our guests and this is in view of why and how our facilities are purposely built. Every guest has found our facilities to be the best space for this,” Okonkwo concludes.