Investment Property in Ikare

Investment Real Estate in Ikare

Ikare 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 Ikare .

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Search Map of Ikare Investment Real Estate

Ikare is a city in the northern senatorial part of Ondo State, Nigeria.

Ikare-Akoko (Ikare for short), city in southwestern Nigeria, is located in the Northern Senatorial District of Ondo State^{[citation needed]}. Ikare is about 100km from Akure, the Ondo State capital. The city was the divisional headquarters of the old Akoko Division, comprising Oka-Akoko, Isua-Akoko, Okeagbe-Akoko etc. Based on the Local Government System now practised in Nigeria, the city is currently the headquarters of Akoko North-East Local Government. The city is a trading area for farmers of Kolanut,Cocoa, and coffee. These farmers’s produces are sourced from the surrounding area, especially Awara and Otaloke hinterlands.

Ikare-Akoko as a city is ruled by the two recognized Kings, The Owa-Ale of Ikareland, Oba Adefemi Adeleke Adegbite Adedoyin(2nd) and the Olukare of Ikareland, Oba Akadri Momoh (4th).

Osele market is the Ikare’s biggest communal market where the city’s ancient traditions are displayed before terminating them at Owa-Ales’s palace at Okorun quarters, Ikare-Akoko.
Oja Oba is situated in front of Olukare’s palace. The city is located in the Yoruba cultural region and has a substantial Christian, Jehovah Witness and Muslim population with several Churches, worshiping halls and Mosques. The architectural style of the city incorporates both Portuguese and Arabic styles.^{[citation needed]} The Portuguese style was introduced in the 16th century when Portugal began to export slaves from the region^{[according to whom?]}. Arabic influences were incorporated in the 19th century with the diffusion of Islamic culture Southward across the Sahara. Population as of 2006 was over 700,000.

Education

Ikare is home to several educational institutions in Ondo State. Notable among which are; Ondo State College of Art and Science {now Federal Technical College, Okegbe quarters, Ikare};Agbaode Orimolade, Grammar school, Ikare; Victory College Ikare; Lennon Jubilee High School Ikare; Citadel International College, Ikare; Comprehensive high School, Ikare; Greater Tomorrow Primary School and so many government and private-owned Primary and Secondary Schools. Ikare sons and daughters are well educated and are presently holding national and international positions.

Markets

Ikare is a chief commercial city in Ondo state with several industrial base and markets which include; Oja-Oba Market, Okore Market, Osele Market, Jubilee Market, and several other markets in adjoining Villages. It is a super city for successful transportation business especially by private individuals.

Inter Ethnic Relationships

Ikare though basically a Yoruba ethnic city, is also a place of convergence in Ondo State for many ethnic groups in Nigeria including the Igbo, Hausa, Fulani, and Ijaw. The friendly disposition of its natives to visitors and holiday makers, from time immemorial, is perhaps responsible for the growing number of settlers in the city.

Festival

Ikare has a rich cultural heritage with exciting festivals every year^{[clarification needed]}. The most popular, Igbodo, new yam festival is the chief festival in Ikare which is celebrated every June 20. On this day, Ikare sons and daughters both home and abroad come together to celebrate what is usually termed the starting point of a new year for Ikare land. The festival also features Masquerade parade, such as Oke, Seeru, GanGan among others. There is also the Aringiya Festival (Maiden Festival) where virgin will paint themselves with Osun (Camwood) and go around the town nude, before converging at a designated point, at The Owa-Ale’s Palace in Ikare. However, Islamic festivals such as Eid-Maulud, Eid Fitr, Eid Kabir as well as Christian festivals such as Christmas, Easter and also the New Year Festival celebrated on every first day of January had almost overshadowed the Cultural Festivals. All these point to the fact that Ikare is a very religious city.

NOTABLE SONS AND DAUGHTERS OF IKARE
(1i) Hon Olanrewaju Kazeem, a distinguished lawyer.
(1i) Hon Bisi Ogungbemi, former Local Govt, Chairman, Akoko North East Local Govt.
(1i) Chief Teddy Ojuolape, Former, PTA Chairman, FST, College, Ikare.

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The financial stability of Ikare 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 Ikare

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

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

Set goals based on how much rental yield will be required and the local rental yield rates in Ikare and be prepared to change your initial outlook.
Thoroughly research the Ikare location with a special emphasis on fringe areas outside the main Ikare metropolis that may be valued lower than their better-known neighbors. Rental yields of around 5% are still attainable in certain areas of Ikare.
Ensure that your target investment property in Ikare 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 Ikare properties yourself is an easy option, but are these savings justifiable when you run into Ikare red tape? Physis Realty Ikare office in downtown provides you with peace-of-mind and leaves you time to plan your next move in the growing Ikare buy-to-rent sector.

With our expert guidance, investing in Ikare provides the secure knowledge that your money is working harder than it would in a local Ikare 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 Ikare, where we have been established for over 35+ years. Physis Realty has been a firm fixture in the Ikare property market through good times and bad. Our experts have seen it all and our portfolios continue to outperform.

Flipping Investment Property in Ikare

Flipping property in Ikare

Flipping property is when we advise clients to buy a Ikare 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 Ikare market has a time to react to the renovation.

The Flipping Strategy in Ikare

Investment property flipping in Ikare 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 Ikare real estate investments are sometimes referred to by professionals as ‘distressed’ Ikare real estate.

What is distressed Ikare property:

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

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

Calculate profit that you make from Ikare investment property flipping:

Final Selling Price less Cost of Purchase less Costs = Profit

Here is an example:

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

Luxury Property in Ikare

For luxury property investors hoping to add a superb property in Ikare 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 Ikare, Physis Realty caters particularly to high net-worth individuals and families. A luxury real estate investment in Ikare should be entrusted to only the highest-quality agency.

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