Keji Giwa, the founder of Digital Landlords and ShortletHomes, claims that the recreational shortlet market may provide a 30% return on investment for investors.
Giwa stated in a statement that developers hold the key to making Nigerians in the diaspora interested in buying real estate in the country.
He said, ‘‘Nigeria is fast becoming the destination hub for indigenous tourists every easter, summer, and what is now called dirty December. Property developers should focus on recreational real investment to attract tourism and recreational activities.
“This will boost the recreational short let market which can generate a 30 per cent ROI for investors.’’
He also said that attracting the international community using recreational and tourism-based initiatives would attract revenue in foreign dollars and pounds.
He maintained that property developers who could capitalise on the initiative would gain a huge competitive advantage and dominate the diaspora market over the years to come.
Giwa stated that “Attracting the international community using recreational and tourism-based initiatives will attract revenue in foreign dollars and pounds, overcoming the dollar to naira depreciation issue buyers, investors/ landlords are now faced with today.
“The key is to sell recurring value and no longer just selling properties to turn landlords into tenants through extortionate electricity bills. Recreational short let opportunities can create recurring revenue in dollars or pounds for buyers provided the operational cost is low.”
He added that this was the idea behind Giwa Garden City which was a facility comprising 570 vacation homes right next to Giwa Gardens Water Park in Sangotedo the largest water park in Africa.