Abuja is the administrative capital of Nigeria and you can be sure it lives up to the name. It is a nice place to be. Given the number of visitors it receives, there are a lot of stunning attractions sure to impress anybody.
With modern skyscrapers, beautiful gardens, luxury hotels and restaurants, exclusive boutiques and stores, cinemas, thrilling activities, and, of course, a vibrant nightlife, it has something for everyone.
Abuja is home to several popular landmarks like the ASO ROCK presidential villa, Central Park, Central Mosque and Church, International Conference Centre, and many more.
Abuja is one of the richest states in Nigeria being the Federal Capital Territory (FCT). It is a fast-developing state with various amenities but why should you buy a house in Abuja? Let’s find out.
- 1. Location
- 2. Security
- 3. Rapid Population Growth
- 4. Abuja Is Still Developing
- 5. Fast Appreciation
- 6. High Demand For Residential Property
- 7. Employment Opportunity
- 8. Good Infrastructure
- 9. Smart Investment Plan
- 10. Low Investment Risk
- FAQs About Buying Houses In Abuja
- Conclusion On Buying Abuja Houses
Abuja is a prime location for real estate. Because it is the capital, it continues to expand in almost every area. And in the years to come, more expansion and development are expected.
If you buy a house in Abuja now you can expect to see an increase in its value in a couple of years.
It is impossible to exaggerate the significance of location in real estate. When choosing to invest in property of any kind it is important to take the location into consideration.
Abuja is located almost at the center of Nigeria which means if you buy a house in Abuja you are almost equally distant from the rest of Nigeria.
This is an advantage because you would be able to easily travel from Abuja to other states in Nigeria.
With the usual exception of States in the middle belt, all Federal roads in Nigeria lead to or point toward Abuja.
This gives travelers by road in Abuja an advantage when traveling far across than others from more distant places.
It is a benefit for people who travel for holiday or business and for businesses that need to transport goods.
The home of a lot of high-profile people is located in Abuja including high-ranking government officials, high-ranking politicians, international ambassadors, expats, and others.
As a result, there is a need for a high level of security.
Compared to the majority of Nigerian states, Abuja is relatively safe. It is a well-organized city with a sizable security presence that is always on hand to uphold law and order and conduct patrols and other actions to safeguard people and property.
This is a very good reason to choose to buy a house in Abuja either as your place of residence or as an investment.
3. Rapid Population Growth
Since a higher population density increases the demand for local real estate, it is well-known that population has a direct impact on real estate.
It is simple to observe how population growth can affect the housing market, people need a place to live after all.
Additionally, firms that want to open new facilities or branches usually choose areas that are experiencing high population growth, which also raises the price of commercial real estate.
Abuja is one of the fastest-growing states in Nigeria which makes it an ideal area for the real estate business. Over 3 million people are thought to reside in Abuja, with an estimated growth rate of 5.15% annually.
Abuja draws a sizable amount of visitors due to its status as Nigeria’s capital. This state’s constantly expanding population increases the demand for homes, which in turn drives up the price of real estate.
You can be confident that your property will retain its value if you buy a house in Abuja. It is typically realistic to anticipate that buying a house in Abuja in an area like Jabi, Maitama, Asokoro, or Wuse 2 will yield a larger return on investment than buying a home elsewhere.
This is because of the high population density in these areas.
4. Abuja Is Still Developing
Abuja is a fast-developing city but it is yet to reach its full potential. Considering the vast amount of unused land.
Almost any form of real estate is available for investment, business or residential, homes or stores, schools, or retail establishments.
Investment opportunities are virtually limitless.
5. Fast Appreciation
It goes without saying that investing in real estate can increase in value over time and is one of the simplest ways to build wealth.
Despite Abuja’s high cost of living, the city’s commercial hub is expanding due to the recent rise of several firms, start-ups, and multinational corporations.
As a result, there has been a consistent demand for investment assets such as offices, residential buildings, retail stores, and industrial buildings.
Because of this demand, the value of both business and residential properties tends to appreciate at a rapid rate.
This is a very good reason why you should buy a house in Abuja.
Since the 1990s, the price of land in Abuja has increased dramatically. In the last five years, some land plots in Abuja have increased by three to five times their original cost.
6. High Demand For Residential Property
Affordable housing options are in great demand in Abuja due to its rapidly increasing urbanization. Property has become Relatively costly as a result of the huge wealth held by a very small group of people.
Residential properties available in the region are far too expensive for the average Nigerian.
For instance, in Asokoro/Maitama, a decent 5-bedroom duplex will cost you about a million dollars which is equivalent to over 400 Million Naira give or take a few thousand.
Also in Wuse, a fully equipped two-bedroom apartment rents for about $8,100 annually which is over 4.5 million naira, including utilities like a standby generator.
As a result, the majority of Abuja’s inhabitants reside in satellite towns and settlements.
There are not a lot of options available to those looking for property in Abuja. And in turn, there is an increase in demand for residential property so you can buy a house in Abuja as a long-term investment and rent it out.
By doing this you create a steady stream of income and you can sell the house later when its value has appreciated.
7. Employment Opportunity
Abuja is a center for both domestic and international trade, among other commercial activities. Many companies and businesses are situated in Abuja and as a result, there are plenty of career prospects here.
People in Abuja have many options for employment because there are numerous multinational corporations and IT companies in the city, and these corporations offer prospects for employment.
8. Good Infrastructure
The city of Abuja is substantially developed and offers excellent social amenities for leading a comfortable life.
Street lights, traffic signals, nice roads, decent housing complexes, parks, organized markets, and other relaxation areas are all present and well-maintained in Abuja.
You can easily see how wealthy Abuja is compared to other Nigerian cities by the lush green pedestrian pathways and spectacular homes in affluent neighborhoods like Jabi, Maitama, Asokoro, and Wuse 2.
It is endowed with lovely landscapes, man-made constructions, and architecture. Large grassy spaces and beautiful scenery.
There are a lot of hills, lakes, and picnic areas for your leisure.
9. Smart Investment Plan
If you want to buy property as an investment then you should definitely buy a house in Abuja. It is a fantastic place to start if one wants to get into real estate.
Buying a house in Abuja is a smart investment plan due to its ever-increasing population density and its virgin lands.
There is no better time to start investing than now. Abuja is one of the states with the highest real estate costs among all the states in Nigeria.
The rate of return on investments in real estate properties in Abuja is at an incredible rate and it keeps increasing as the city continues to grow.
This is the main factor to consider if you want to buy a house in Abuja.
Buying property in strategic areas of Abuja will prove to be a very smart investment plan when the value appreciates after only a few years.
If you want to buy a house in Abuja, consider areas like:
This is a rapidly expanding neighborhood in Abuja phase 2. It is the ideal area to purchase land in Abuja due to ongoing government infrastructure construction and its fantastic location.
It is close to several upscale neighborhoods, including Gwarinpa, Kado, and Katampe. This area is perfect for people looking to purchase a property close to the city center because Jahi is only about a 12-minute drive from the Central Business District (CBD).
This is a relatively large district in terms of both people and area of land. The area is generally underdeveloped.
However, it is precisely this underdevelopment that makes Mpape a desirable location to buy a house in Abuja.
You can begin to imagine the possible high return on investments achieved by purchasing land or a house in Mpape when you consider its underdevelopment and excellent location next to one of the most upscale neighborhoods in Abuja, Maitama.
Additionally, Mpape has a high topography that offers spectacular views of the whole city. When you add this to the upcoming infrastructure improvements, Mpape looks very promising to anyone looking to buy a house in Abuja.
Another great location to own land is Kuje. Land in Kuje is generally less expensive than in other areas because it is farther from the city core.
For this reason, investors with limited resources or a low budget should consider buying lands or houses in Kuje.
This area is also ideal for anyone looking for farmland or agricultural land because there is a large supply of it. Kuje is located close to several notable monuments in Abuja, including Centenary City and the airport.
This is a little-known neighborhood in Abuja. It is located in phase 2, directly south of Jabi. Dakibiyu is surrounded by ring-road 2, a significant thoroughfare that connects a number of communities from Gwarinpa at one end to Apo at the other.
The neighborhood has quick access to the city’s airport thanks to its proximity to the airport road.
The northern city of Jabi is far more developed than Dakibiyu. However, you can easily see why Dakibiyu is one of the greatest locations to acquire land when you consider its proximity to Jabi which is one of the most costly areas of Abuja to purchase real estate and has a great central location.
Despite being a relatively crowded location, Kyami is a sizable area. There is a lot of available lands. It is a 25-minute drive away from the city center and a 15-minute drive from the airport, making it an exceptional location to buy a house in Abuja.
Additionally, it is close to the Centenary City project, which is currently under construction. The neighboring towns of Kyami were formally included in Abuja Phase 5.
This indicates that the neighborhood will soon receive significant development thanks to more investment, better facilities, infrastructure, and services.
10. Low Investment Risk
Assets like bonds, stocks, land, and others all experience value fluctuations over time because they are significantly influenced by prevailing economic conditions and public opinion.
Real estate is also subject to these changes, however, buying property in Abuja comes with a lower risk, This is simply because the possibility of your property losing value is very low.
There will always be high demand for housing in Abuja because it is the capital of Nigeria and because of the companies, businesses, schools, and organizations all located there.
FAQs About Buying Houses In Abuja
Where do the wealthy reside in Abuja?
Asokoro is regarded as Abuja’s most affluent neighbourhood and is known as the haven for senior government personnel.
Aso Rock, the presidential villa, is one of this luxurious area’s standout features.
Who in Abuja has the costliest home?
Aliko Dangote has the costliest home in Abuja. His house in Abuja is valued at roughly N5 billion.
Where in Abuja is the safest location?
The high-class and safest area in the Abuja is Asokoro.
Is buying a house in Abuja expensive?
Buying a house in Abuja is relatively expensive. However, with a very good real estate agent you can get a house for as low as 3.5 million Naira
Why should you buy a house in Abuja?
In this article, we highlighted the reasons why you should buy and own a house in Abuja.
Below is a summary of the reasons why you should buy a house in Abuja.
3. High employment opportunities
4. Availability of standard power supply
5. Good roads
Conclusion On Buying Abuja Houses
In conclusion, there are several benefits to buying a house in Abuja. It is a much safer option for investments than any other Nigerian city.
You wouldn’t have to worry about the numerous issues that you might have in other Nigerian cities.