Investment Property in Enugu

Investment Real Estate in Enugu

Enugu property investment can be a worthwhile venture if you are selective with the areas you choose to invest in. If not, you could find that your investment suffers due to low rental yields, dwindling demand, and slow property price growth in many parts of Enugu .

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Search Map of Enugu Investment Real Estate

Enugu ( ay-NOO-goo; Igbo: Énugwú) is the capital of Enugu State in Nigeria. It is located in southeastern Nigeria. The city had a population of 722,664 according to the 2006 Nigerian census. The name Enugu is derived from the two Igbo words Énú Ụ́gwụ́ meaning “hill top” denoting the city’s hilly geography. The city was named after Enugwu Ngwuo, under which coal was found.
Enugwu Ngwuo is one of the ten villages that made up the Ngwuo clan, often referred to as the children of Ngwuako, the ancestral founder of the clan. Ngwuako positioned Udeneogu, his warrior son of on top of the hill (Enu-Ugwu) to protect the clan from invaders. Enugwu Ama Udeneogu, (Enugwu, the land of Udeneogu)
The people lived on the hilltop and farmed the sprawling surrounding valleys.
Ngwuo has borders with Oshie clan in the south, Ojebeogene clan in the north and Nkanu clan in the east.
The discovery of coal deposits on Enugwu Ngwuo farm lands down the valley, attracted people from all and sundry to the newly discovered wealth, in search for means of living, and as depicted in the map of the original plan for a government station, titled Enugwu Ngwo government station, this marked the core of the first urban settlement of what is today known as Enugu, started on Ngwuo land and it was called Enugwu Ngwuo until when it attained township status, the word Ngwo was removed for the convenience of pronunciation, thus a village of Ngwuo clan gave birth to a city which today has grown into a mega city, and still growing, engulfing the surrounding Nkanu towns of Nike and Akunino and stretching towards Neke and Emene.

Since the 17th century the location of present-day Enugu has been inhabited by the Nike ( nee-KAY) subgroup of the Igbo people; one of Enugu’s neighbourhoods still retains the village’s old name Ogui. In 1900 the Southern Nigeria Protectorate was established by the colonial administration of the British Empire. The discovery of coal by the colonialists led to the building of the Eastern Line railway to carry coal from the inland city to the port of Port Harcourt, a city created for this purpose located 243 kilometres (151 mi) south of what was called Enugu Coal Camp. Enugu was then renamed simply Enugu and developed as one of the few cities in West Africa created from European contact. By 1958 Enugu had over 8,000 coal miners. As of 2005 there are no significant coal mining activities left in the city.

Enugu became the capital of the Eastern Region after Nigeria’s independence in 1960; a succession of territorial adjustments in 1967, 1976 and 1991 led to Enugu becoming the capital of what is now Enugu State. On 30 May 1967 Enugu was declared the capital of the short-lived Republic of Biafra; for this Enugu is known as the “capital of Igboland.” After Enugu was captured by the Nigerian armed forces, the Biafran capital was moved to Umuahia.

Industries in the city include the urban market and bottling industries. Enugu is also one of the filming locations for directors of the Nigerian movie industry, dubbed “Nollywood”. Enugu’s main airport is the Akanu Ibiam International Airport.

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The financial stability of Enugu has translated into a real estate market that rewards forward planning and a willingness to look beyond areas of traditional affluence.

Buy to Rent in Enugu

Renting out your Enugu buy-to-rent investment property can grow wealth and income.

Whatever your goals with investment property in Enugu are – preparation is key.

Set goals based on how much rental yield will be required and the local rental yield rates in Enugu and be prepared to change your initial outlook.
Thoroughly research the Enugu location with a special emphasis on fringe areas outside the main Enugu metropolis that may be valued lower than their better-known neighbors. Rental yields of around 5% are still attainable in certain areas of Enugu.
Ensure that your target investment property in Enugu appeals to professionals. This is a demographic that ensures maximum income and low voids.
Finding and vetting suitable tenants is a job ideally left to the professionals. Working with an established letting agent such as Physis Realty with local knowledge and experience of property legislation will give you the best chance of success.
You may think that managing your Enugu properties yourself is an easy option, but are these savings justifiable when you run into Enugu red tape? Physis Realty Enugu office in downtown provides you with peace-of-mind and leaves you time to plan your next move in the growing Enugu buy-to-rent sector.

With our expert guidance, investing in Enugu provides the secure knowledge that your money is working harder than it would in a local Enugu bank and that future generations of your family will be left with substantial capital growth assets.

We are always happy to advise on buying investment property in Enugu, where we have been established for over 35+ years. Physis Realty has been a firm fixture in the Enugu property market through good times and bad. Our experts have seen it all and our portfolios continue to outperform.

Flipping Investment Property in Enugu

Flipping property in Enugu

Flipping property is when we advise clients to buy a Enugu property below market value, renovate it and then make a profit by selling it at a higher price, all within a few months, and often before the Enugu market has a time to react to the renovation.

The Flipping Strategy in Enugu

Investment property flipping in Enugu is a simple strategy. You find a property that is in need of renovation from our list and purchase it for a low price. These type of Enugu real estate investments are sometimes referred to by professionals as ‘distressed’ Enugu real estate.

What is distressed Enugu property:

Enugu property in need of renovation
Enugu real estate with a change of purpose and use
Oversold Enugu property
Bank repossessions in Enugu

Put simply, long term investors in Enugu purchase the property, renovate it and make it a lot more attractive to potential buyers.

Calculate profit that you make from Enugu investment property flipping:

Final Selling Price less Cost of Purchase less Costs = Profit

Here is an example:

Enugu property purchase price: $220,000

Renovation costs: $20,000

Other costs: $25,000

Property sale price: $400,000

Profit: $135,000

Experienced property developers in Enugu use a minimum profit value of 22% when looking at potential Enugu projects. The reason for this is because there are lots that can go wrong in Enugu property flipping and working on a potential margin of 22% should still leave a good margin of error.

Luxury Property in Enugu

For luxury property investors hoping to add a superb property in Enugu to their luxury real estate investment portfolio, Physis Realty is a trusted partner.

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A world leader in luxury real estate with a portfolio comprising some of the most sought-after real estate in Enugu, Physis Realty caters particularly to high net-worth individuals and families. A luxury real estate investment in Enugu should be entrusted to only the highest-quality agency.

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