In the past few years, Asaba the capital city of Delta State Nigeria has gained the attention of foreign and local investors. One sector that has witnessed a considerable amount of growth over the years is the Real estate sector.
This article will explain 5 reasons you should invest in Asaba whether you are a foreign or local investor.
PRIME LOCATION
The city of Asaba is between the famous Onitsha Marketplace on the right and the culturally rich Edo state on the left, making this city a link between the southeast and south-south regions of the country.
Properties in Asaba would continue to experience appreciation because it enjoys proximity to the largest marketplace in Africa – Onitsha. It is becoming a residential neighborhood for the busy Industrial Onitsha.
Asaba is preferred among the Igbos-speaking tribe in Nigeria because it is among the country’s most secure and peaceful Igbo-dominated cities.
Related: The Best Areas To Live In Asaba
BUSTLING ECONOMY
Delta State’s capital territory has witnessed a massive economic boost over the past few years. The previous administration oversaw the following projects that have significantly increased the state’s economy
- Ultra-Modern Auto-mechanic Village
- Koko Fly Over
- Stephen Kechi Stadium
- Delta State Leisure Park and Film Village
- Dennis Osadebay University, etc.
These projects have created jobs and attracted job seekers, which has increased the city’s population, leading to more demand for commercial spaces, hotels, restaurants, and residential housing.
Related: 5 Essential Tips for Aspiring Land Banking Investors
AVAILABILITY OF LAND
Many of the popular districts in Asaba have been developed shifting developments to the outskirts of the city.
Though land is expensive in the core areas of Asaba like GRA and Anwai Road, investors can get cheap land for sale in Okpanam, Issele Azagba, Ibusa, and Ugbolu for land banking purposes.
Places like Nnebisi Road provide investors with opportunities to invest in commercial spaces like office spaces, warehouse complexes, retail apartments, and shopping centers.
You may also read: Best Places To Invest in Asaba’s Real Estate
POLITICAL STABILITY
One of the agendas of the previous and present administration of the state is infrastructure development. We have seen how the current administration under the leadership of His Excellency Hon. Sheriff Oborevwori has continued the previous construction projects left behind by his predecessor Dr. Ifeanyi Okowa.
This political stability has increased real estate activities in the state’s capital as governmental policies aimed at improving infrastructural developments in the state.
No opposition party has won governorship elections from the ruling PDP which has been in power after the military rule in 1999. This peaceful political climate has favored investors because there won’t be any sudden shift in governmental priorities.
GROWING POPULATION
The thriving economy in Asaba has attracted job seekers which has increased its population from about 149,000 in 2006 to over half a million.
This influx of people has led to increased competition for housing, both residential and commercial, driving up property prices. This surge in demand creates a fertile environment for real estate investors, who stand to benefit from the appreciation of their properties over time.
It is believed that Asaba will see an increase in population in a few years as the unstable political climate and increasing insecurity in eastern states will move families to Asaba.
Conclusion:
The Asaba real estate sector will continue to grow. For now, it isn’t as competitive as Lagos and Abuja. Investors who jump into this new market would get a good return on investment before it becomes saturated.
Investment opportunities include rental apartments, warehouses, land banking, and retail complexes.
Before investing in any of the above opportunities, conduct thorough research and work with a reliable realtor.
To get help to invest in Asaba, kindly call, message, or WhatsApp at 09014515815 or book an appointment here.