Real Estate Market in Ibadan and other parts of Nigeria

Ibadan, running splash of rust and gold-flung and scattered among seven hills like broken China in the sun – John P.Clark
Ibadan real estate
Perhaps if I was to look at a picture of Ibadan when this great work (poem) was written and side by side a picture of Ibadan today, we surely would have contrast and comparisons, remarkable insight and the difference between the past and today might just give us a good inkling to the future.
The land of Ibadan has always been reputable for being one of the oldest and largest cities in Africa before the independence of Nigeria in 1960. The city is also home to the first television station in Africa, established by the wisdom of the late premier of the south west, Chief Qbafemi Awolowo in 1959. Among the great legacies of this Pan –Yoruba/Africa leader is the founding of the first university in Nigeria and Africa, the university of Ibadan (UCI) in 1962. the liberty stadium was another monument of the civilization of the African.                                                    
Ibadan is a town that attracts visitors and residents from different works of life; Ibadan is like a regional power (seat of government of western Nigeria) in the west, as Lagos is to Nigeria or Kaduna to the north. Adorned by great edifices like the cocoa house, koko dome club, Shoprite palms mall, airport, zoo and  over four million population.                   
The influx of tourist, visitors, residents and industrialist to Ibadan is bringing about an increase to housing demand. Home prices in Ibadan are relatively fair with characteristics of low yield, risk and low nominal rate Ibadan is a cosmopolitan city and has transformed, from her early sign of an emerging civilization as intellectually and aesthetically depicted by J.P. Clark above.
A four (4) bedroom duplex at Akobo G.R.A. suburb is for sale at sixty million (N60m) naira, forced sale value is estimated as N53m, (fifty five million) and as lucrative as N65m (sixty five million naira) to a willing buyer. An Exquisite (4) bedroom, 4 (four) bathroom house in Oyo, Ibadan, Bodija is going for seventy-five million naira (N75m), while a four bedroom house with 3 (three) bathrooms in Ibadan at Agodi is going for 90m.
In Eleyele part of Ibadan 4 bedroom with 3 bathroom house is in the market for N13m (thirteen million) a 4 bedroom with 5 bathrooms house in Ibadan at Alalubosa is for grabs at N32m. A 3 bedroom, 3 bathroom house in Agobowo Orogun samonda area of Ibadan is for sale at N55m. (Fifty-five million naira)                                                                                                                                                                                                            
4 (four) bedroom, with 3 bathroom house at challenge, Ibadan is for lease at N1.2m similarly in location, a sweet 4 bedroom, 4 bathroom house is for let at N5.5m (five million five hundred thousand naira) a 3 bedroom, 4 baths in Ibadan at Alalubosa for N400,000 .p.a.                                                                                                                         
A  bedroom with 3 bath apartment in oyo, Ibadan, Apata, Sanga- Old Ona, is for let for N250,00 p.a. in Eleleye a 3 bedroom,3 bath is for lease at N250,000 p.a. and a 2 bedroom with 3 bathroom apartment in Oyo, Ibadan, New Bodija is for lease at N1.2 m. other notable locations in Ibadan are Sango Mokola, Ojo,Oke, ado-challenge, Molele, Moniya, Felele, Olorun sogo, Olodo road, Ring road- oso & Agodi                                                                                     
Next in the south west (SW) region of Nigeria is Lagos, where a four bedroom house in Victoria island, Oniru where four bathrooms is going for N70 m, (seventy million) brand new well finished 4 bedroom duplex at Agungi, Lekki is for sale at N35m. A 3 bedroom, 3 bathroom apartment in Lagos, Lekki, Osapa lekki is for let at N2.5m. 4 bedroom duplex at Gbagada is for lease at N1.4 m p.a.                                                                                                                                                                                                              
In Ogun state , Ibara-GRA, Abeokuta  a 3 bedroom with 3 bathrooms is for sale at 30m.                                                                                      
On the basis of valuation comparison, a 4 (four) bedroom with 4 bathroom house in Abuja (Fct) Garki, Area 2 is for sale at N75m.4 bedroom, 4 bath, all ensuite development in Abuja, Katampe is for sale at N125m.                                                                                    
A 3 bedroom bungalow, 3 bedroom, 3 bath at Lokogoma, Abuja is for grabs for 18m (asking) 2 bedroom tastefully finished terraced duplex in a gated mini-estate at karu, Abuja, 2 bathroom with 3 toilet is going on offer for N13m. For let is a 3 bedroom bungalow at Lokogoma,district with 4 toilet and 3 baths at Pent city is for Rent at 1.3m P.a.                          
In Kaduna, a 4 bedroom bungalow at Ungwan rimi is going for N52m on sokoto road of Kaduna north. in the south a 4 bedroom,4 baths,in barnawa phase 2 is going for N50m[asking]A 3 bedroom and 3 bath with boys quarter at barnawa GRA, is for sale at N25m. New development are coming up in the state with a 3 bedroom with space at Kamazou up for grabs at N4.5m.A 3 bedroom low cost apartment is going for N5.5m at barnawa, high cost.
Rental prices for 4 bedroom bungalow in the north range between N900-2m and in the south the price range are between N1-2.5m. 3 bedroom with one room boys quarter at river close,malali GRA is for let at 1.25m P.A.including security,gardening and utility. Similar property in the south is going for N1.3m.
Source: Matthew oluwafemi A. (www.h-ousingmarket.com)

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