Student Housing Lagos Nigeria - Free Student Accommodation Investing Tips

student housing lagos nigeria africa

Student housing Lagos Nigeria - Let me be upfront with you: Investing in student accommodation is profitable. And the reason is obvious.

Student housing is in hot demand. And students, especially rich students, are prepared to pay whatever it cost to get good student accommodation.

Guess what.

Most tertiary education institutions in Nigeria are over-subscribed. That means there are tens of thousands of students per institution.

In fact, many schools are so jam-packed that you wonder whether they are higher institutions of learning or road-side amateur schools.

Some students even get to sit on the bare floor during lectures because of insufficient seats!

Bottom line.

Student housing is 'hot cake'.

Students are constantly seeking suitable student accommodation in areas that are close to their schools (Universities, polytechnics, and colleges of education).

Consequently, investing in student housing is a great way to grow your return on investment.

Student Accommodation - The Investment Options

Now the big question: What real estate investing options are available to the Nigeria real estate investor who wishes to invest in student accommodation around mass market tertiary institutions in Nigeria?

There are a number of property investment options available to the enterprising Nigeria property investor interested in exploring the world of student housing. And they include . . .

1. Investment in single room houses

2. Investment in partitioned single room houses

3. Investment in single room ensuite houses and

4. Investment in 1 bedroom flats

Majority of Nigerian students in tertiary institutions are students from low income earning households.

Therefore small student apartments are more popular than large ones. And that is why the list above is purely for the popular apartment types among students.

Single Room Student Apartments - The Face Me I Face You Design

As mentioned above, single room student apartments are more popular than any other type of student accommodation available out there because of the inherent low rental price of single room student housing.

However, there are several variations even within this category of student apartments as the list above indicates.

For example, a building in Lagos Nigeria comprising single rooms is usually designed such that the single rooms face each other. That is, two rows of single rooms facing each other. Hence, this type of single room student housing is often referred to as "face me I face you".

For instance, a 10-room house built with this design will have five rooms on the left hand side and five rooms on the right had side. And this kind of building often share common amenities (or facilities) like toilet, kitchen, and bathroom.

The above is the basic design.

However, since most students are people of little means, this student accommodation type is sometimes modified to meet the low income apartment needs of many students.

How?

By splitting the individual rooms further into two equal halves using a two-face wardrobe. That is, a wardrobe with two sides is constructed in the middle of the room so that each occupant has access to one wardrobe each. Both occupants will, of course, share the use of the single door for the room.

How do students who rent this kind of student accommodation protect their privacy?

Each person can install a curtain (that includes a central top-to-bottom zip) between the wall of his wardrobe and the wall of his side of the room. In this way, each student in this student apartment type can get some semblance of privacy in his side of the room.

What is the advantage of this kind of student housing design to real estate investors? Simple. The investor generates more rental income per room.

For example, a 10-room building may have a rental price of 4,000 Naira per month per room and 48,000 Naira per year per room amounting to 480,000 rental revenue per year.

On the other hand, a partitioned single room may generate 6,000 Naira per month per room (the two students per room pay 3,000 Naira each), 72,000 Naira per year per room, and rental revenue of 720,000 Naira for the ten rooms.

See the subtle but remarkable difference?

Over 50 percent increase in rental revenue with a small modification!

These kind of ideas are certainly worth investigating. They help the property investor maximum the return from his investment.

Ensuite Single Room Student Hostels

This type of student housing design is for students who have something extra to spend. And who are willing to pay a bit more to get some privacy.

As mentioned above, the major drawback of single room (face me I face you) buildings in Lagos Nigeria is the fact that everyone shares a common overcrowded insufficient and, often, sub-standard kitchen, bathroom, and toilet.

The ensuite single room student hostel (or student accommodation design) seeks to solve this problem.

With this student housing design, each room has its own bathroom, kitchen and toilet. This design is obviously more expensive to build.

For starters, it occupies more land space and it requires installing more amenities.

For example, a regular 10-room building will have maximum of two toilets, two baths, and two small kitchen. But in the case of ensuite 10-room building, there will be . . .

  • 10 toilets
  • 10 baths and
  • 10 kitchen

    Nevertheless, the home owner of his kind of student hostel or student accommodation can charge more for it because of the perceived higher value in the eyes of students or other category of tenants.

    Student Housing - The 1 Bedroom Flat Design

    In Lagos Nigeria, 1 bedroom flat refers to a flat with . . .

  • 1 living room
  • 1 bedroom
  • 1 bathroom
  • 1 toilet and
  • 1 kitchen

    Most students do not require this size of student apartment.

    For goodness sake, they're in school to read not live flamboyant lives!

    In any case, most students cannot even afford it.

    However, there are always the privileged few who have plenty of cash to spend . . . children of rich folks who live big in school. These folks have plenty of cash.

    Guess what.

    They want to spend it!

    Students in this category rent . . .

  • 1 bedroom flats
  • 2 bedroom flats or even
  • 3 bedroom flat apartments

    However, they are in the minority.

    Thinking of investing in real estate in Lagos Nigeria or anywhere else in Nigeria?

    Have you zeroed in on the profit potentials of student housing?

    Great.

    But there's one more decision you have to make.

    You have to decide if you want to invest in the mass market student accommodation or in premium student hostel for rich boys and girls.

    Whatever your choice, there's money to be made in student apartments.

    Related Content:

    Apartment Guide ::: Apartments For Rent

    Buying A House ::: How To Build A House

    How To Sell Your House ::: Bank Owned Properties

    Investing For Income ::: Investing For Retirement

    Share Ideas For Investing In Student Accommodation Or Renting Student Apartments.

    Are you a Nigeria real estate investor who has invested in student accommodations?

    Please share your experience with us, good or bad.

    Are you a current student or ex-student of a tertiary institution?

    Share your experience with respect to student accommodation in your school.

    Simply use the form below.

    It's FREE!

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