Why Nigerians should invest in the UK property market – Richard Obahor
December 2, 2015
Richard Obahor (MBA), Managing Director, Purple Premium Ltd and one of the biggest Nigerian players in the Real Estate Industry in UK, has urged Nigerians to invest in the UK property market. Richard said; ““The UK property market, historically, has shown stability. Yes, it can either go down or up, however, these are normal characteristics of market forces and all previous statistics show that the property market has doubled every 8-9 years since ‘good records’ have been kept, and this records provide benchmarks for making informed decisions. At present, it is argued that we are at the beginning of the circle after a correction or some element of decline in the market. There are signs and evidence that the tides are changing and for acquisition purposes, it presents some fantastic opportunities.
We are currently acquiring well appointed properties with excellent rental income and tenants at purchase prices that were previously unimaginable”. He added that the amazing thing about the UK property market and the current condition is that people are failing to see that history is repeating itself. There is enough data out there to show and monitor the performance of property against other asset classes, but people just choose to ignore this. The fact is, the current state of the market represents the best time to buy property in the UK, whether for residential or investment purposes. We are of the opinion, that the market has bottomed-out and the only direction things can go now, is up. Waiting could be risky. The two fundamental market driving forces are fear and greed, and having a good understanding of which emotion is currently in play is pivotal. For investors who wish to see a decent return on their investment, the market currently represents very healthy yields, which implies that investors can get more for their money and recoup the capital invested quicker. Signs from the market suggest now is a good time to invest.
Richard's career in the Real Estate industry began in the UK as a buy-to-let landlord and has since rapidly progressed to acquiring and managing a multi-million pound property portfolio owing to his unique acquisition expertise, he is also responsible for sale transitions worth millions of pounds constituting of his own properties and those of his big-net worth clients. Richard has an Executive Master in Business Administration (MBA) from Plymouth University and has also attended several professional courses from highly reputable institutions; he has also won numerous industry awards. His knowledge and expertise has since been translated into the Nigerian market place ensuring his organisation provides their broad-spectrum customers with the high quality of service.