Nigerian Real Estate Prices Rise

Real estate prices in the Nigerian city of Maiduguri, has recently been on the rise – much to the joy of dozen of Nigerian property investors.

The reason for the sudden rise in property prices in the area, can all be attributed to the retreat of terrorist group, Boko Haram.

Ever since the jihadist terrorist group retreated from the area – an area that was once one of the biggest strongholds of the group – property prices have soared once more, as local residents who fled the area are returning by the droves.

With Maiduguri being the biggest city in the Borno state, it was a frequent site for suicide bombers and other terrorist attacks carried out by Boko Haram.

However, thanks to the Nigerian military upping their presence in the area and fighting off the terrorists, the city has slowly started to return to calmness, which in turn has brought thousands of locals back to their home town.

Many have struck it rich in the city as well. There were a handful of people who bought land and property for dirt cheap off fleeing locals.

Now that people are returning, these people are cashing in big.

Some claim that they have made as much as 500% profit:

“…I made 300 to 500 percent profit on some of the houses I bought but others didn’t yield as much … This area in particular is hot, prices will improve or remain steady,” one property owner said.