Tuesday, 30 June 2020


Chief Anayo Nwosu
Chief Anayo Nwosu

When the buyers’ abilities to buy are diminished due to reduced profit or lowering disposable incomes, a smart businessman or salesman should immediately readjust his or her product offerings to the price range the customers can buy or afford. It could also require a product engineering and deep thinking.

Extra-smart #Nigerians are getting shares of the new #Lagos by acquiring #plots, acres and hectares of land at #Ibeju #Lekki . What are you waiting for? Click: http://www.tectono-business.com/2019/07/have-share-of-new-lagos-by-investing-in.html

Most salesmen or businesspeople who fail to smell the coffee or move with the cheese would later sink with their stubbornness or lack of ability to analyze business situations and reacting accordingly. Unfortunately, many businesses would and have already started sinking early enough; and would sink further post-COVID-19.

The effects of depleting cash in the pocket, unemployment in all sectors of labour cadres, poor sales or output caused by bad economy are the initial impacts on the rental income of or poor sales for those owners/developers of real estates and service flats in highbrow areas like Maitama, GRA PH, Ikoyi, Victoria Island, Lekki Phase 1 and all those who own the beautiful houses in well-organised gated estates on the Lekki peninsula axis and Banana Island, Ikoyi Lagos Nigeria with high annual or monthly service charges.

Have you heard that #Landwey is giving out plots of land at #URBAN #PRIME TWO #ESTATE at #Abraham #Adesanya #Roundabout, #Ajah, #Lagos? You can get yours by clicking: http://www.tectono-business.com/2020/02/urban-prime-two-estate.html

While it is a reality that a lion would never eat grass no matter the economy in the jungle, the rich and the survivors of the harsh economy would still keep living big but their numbers be depleted. Upper and upper-middle class are fast depopulating. That’s why most houses slated for sale or let in the high brow areas in Lagos, Abuja and Port Harcourt still have wooden adverts hanged permanently on their gates with nobody renting or buying.

In the wake or in view of the present bad economic weather, I advise players in the real estate sector, especially the developers, to consider doing the following:

Wow!!! Have you discovered where #CEOs and top #managers take their #vehicles to for body work, painting with #Sikkens #paint and #oven #baking? It’s GOF AUTOS LTD. For details, click: http://www.tectono-business.com/2017/06/gof-autos-limited-best-automobile.html

1. Build houses in areas with lower or moderate value of land to make the off-take prices of their apartments affordable. This would also ensure that those built for rent are affordable to tenants whose incomes have been lowered by harsh economy.

2. Builders should work with their architects and civil engineers to reduce convolutions in the building designs to save materials and labour costs. Straight and simple designs like Festac housing designs would produce low-cost houses for sales or rents.

Are you aware that many #Nigerian #exporters have been defrauded in the process of #exporting their #products? To #export successfully and get paid, click: http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html 

3. Now the majority of the populace are around middle and low income classes, why won’t a developer build houses which costs would approximate N15mn and encourage buyers to use their National Housing Scheme loans to buy? Any worker in Nigeria’s public and private sector is entitled to a housing loan of up to N15mn at about 5%p.a interest rate and tenored for up to 15 years from the Federal Mortgage Bank of Nigeria provided that the statutory deductions are made by the employers from the work’s salary.

4. A smart developer can enter into an agreement with blue chip companies like banks who give mortgage loans to their employees, agree on designs and location, and build apartments that would be off-take by the employees while their employers pay the developer and book mortgage loan for the benefitting staff.

Do you know that you will minimize the amount of #money you spend on #food items when we deliver the #foods items to you in bulk at reduced #price from our #farms? For details, click: http://www.tectono-business.com/2020/02/fresh-food-items-supply.html

5. Those developers who had built up their houses before the annoying COVID-19 arrived with its economic consequences, should consider renting out the buildings or apartments that were planned for outright sales at reasonable rates. This would ensure some revenues while waiting for the economy to pick up or the right time to sell.

6. A developer could adopt a strategy of tenant-house-purchase scheme whereby the tenant pays normal rent but at the same time pays by installments for the eventual acquisition of the rented property.

Do you know what? Let #Tigerland #Technology #Services Ltd deliver world-class #BUILDING #MATERIALS to your #SITE at very #affordable #rates. For details, click:  https://www.tectono-business.com/2020/06/let-tigerland-technology-services-ltd.html

It is suicidal for a real estate developer to ignore signs of times and continues developing what he cannot sell or rent at profitable prices. Even their big customers who are into drugs, money laundering and stealing of our patrimony are also caught up in the web of hard times. Someone would have to drink tea first before asking for Ovaltine or Over-tea.

Securing a bank loan for real estate development for sale is a tough sell at this time. This is simply because the banks would not be able to see how the built houses or apartments would be sold early enough for loan repayment at this gloomy period.

Have you thought about having a 5-#Bedroom #Apartment with #Penthouse and Indoor #Swimming #Pool near Pan #Atlantic #University?  For details, click: http://www.tectono-business.com/2019/08/have-you-thought-about-having-5-bedroom.html

Given the foregoing, any risk taker in real estates at this time must do it with his or her own funds.

It is a tough one.


No comments:

Post a comment