The regulations of supply and demand are generally fully understood by adult females with low education. If you have a shortage (not enough give), the price tag on the product will increase to ensure that the individual who prefers the goods may get an item. On the other hand, if there are more products available for sale than demand, the price will drop because the supplier has to destock flats for rent in ikoyi.
In the former Ikoyi, once a reserve officer of government officials, multinational corporations and embassy officials, the supply of property was limited because owners of the property were not interested in selling them. It experienced the results of increasing prices and local rental prices to a maximum of $ 150,000. Most of Ikoyi's development was high-end luxury condominiums, rented only to those who could afford it, as a result.
However, the situation has changed recently. The Federal Government of Nigeria has sold off at least 800 realty buildings and over 4 increased-climb towers in elegant non commercial sectors. The embassy and then the Excessive Commissioner who moved to Abuja also sold their residence. As discovered, most buyers of these properties were developers and investment speculators, although in general, this may not have had a significant impact on the market. The concept would be to actually purchase several real estate, demolish them, put together skyscrapers, hire or preserve real estate investment for a time period of efforts and then sell it.
The old Ikoi has become a great building construction site, and there are hundreds of undeveloped Ikoi in the market for sale, as a result of all of the above.
Health professionals feel that the strength of the market industry (estate source) creates a different lesson of real estate property programmers aiming for the middle classification, the place where price tags for residences or homes with terraces are connecting 70 and 90 thousand. These coders may not have experienced the rental marketplace. Alternatively, they will be geared towards anyone who has a sentimental longing for Ikoyi's correct. These programmers build up tactics along with the faith which your middle-class will give up VGC, Ikeja GRA, and Lekki 1 elements for not so big condominiums in Ikoyi. However, there are differences. These "middle-class" properties are pretty straight forward, grown up machines in preference to very high-stop apartment rentals with marble and granite coatings, pools, health clubs in addition to features. The Old Ikoyi market can cater to all luxury apartments, but if they are the only type of real estate, they cannot do it by themselves,. That's his assertion. The current market must absolutely widen to allow for the middle session.
Before negotiations I think I can get through, analysts from another group with completely different opinions say that those who own such a property have a large pocket and wait until the desired buyer / tenant comes at the right price.