Image of benin city, Nigeria City centre

Benin City Real Estate Landscape pt1

Benin city is one of the largest and most popular cities in Nigeria. Located only 320 kilometres off Lagos, Benin City is one of the commercial center of the country. You may not see lots of industries and factories but believe it when we say its one of the few places where business thrives with exponential returns.

Real estate has seen considerable growth over the past few years. From having expensive properties only in the Government Residential Areas to booming suburbs  and villages. Oredo with an area of 249 meter square  is one of the most important Local Government area in Edo state, it houses the capital Benin City. Major financial firms, government residential areas, and administrative are located here.

Some of the best properties you will ever buy will be located here. Though expensive most times, return on investment are great and very fast. Properties located here can appreciate more 300% within a few years.  One important factor that affects property prices is the concentration of universities, highend secondary schools, learning centers and government buildings.

With the city population in an all-time high of more than 1.5 million people, surrounding Local governments Areas like  Egor and Ikpoba Okha are seeing increase in high rise buildings, estates’ and investment. Malls and shopping centres are springing in rapid succession. As I write this, property price is increasing per square meter, also is rent. Renting an average three bedroom flat can cost on the average twenty thousand naira monthly (#20,000). 

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