Real estate is a property (consisting of land or buildings) or a huge collection of properties. On the other side, real estate business is the process of buying, selling or renting a property, building, home or land.
YES, an alien or a foreigner can own land in Nigeria, but this is subject to certain restrictions identified under the ALAL. The chief restriction under ALAL is the requirement for State Governor’s written approval before instrument of transfer could be lawfully executed.
Building a house is very expensive in Nigeria. A three-bedroom house, for example, will cost about US$50,000, compared to US$36,000 in South Africa and US$26,000 in India, according to Finance Minister Ngozi Okonjo-Iweala.
Land Flipping. This means buying of land and quickly reselling it for profit. …
Open Space Leasing. This works in a simple and unique way. …
Real Estate Agency. …
Property Development. …
House/Office Rent.