- Pastor Matthew Ashimolowo, Global President of the Kingsway International Christian Centre, emphasizes the importance of investing in Lagos real estate.
- He warns that neglecting real estate investments now may lead to regret in the next decade.
- Ashimolowo advises against investing in stocks, claiming that real estate provides a better return on investment.
Pastor Matthew Ashimolowo of the Global President of the Kingsway International Christian Centre, cautioned that individuals who fail to invest in Lagos real estate at present will likely experience regret in the coming decade.
He further advised against investing in stocks, asserting that real estate provides a more favorable return on investment.
Ashimolowo reflected on a period when land in Lagos could be acquired for as little as N500 or N1000, highlighting the significant rise in prices that has occurred since that time, as reported by Vanguard.
He said: “Anyone who doesn’t invest in Lagos now will regret it in 10 years. I missed the opportunity to act on Lagos real estate early.
“When I arrived in Lagos as a young pastor, a plot of land in Opebi was N500, and in Allen Avenue, it was N1000. These areas, including Ikeja and Opebi, were undeveloped bushlands. In Isolo, land was also N500 per plot.”
“The same plot in Opebi that I passed on for N500 in 1979/80, I ended up buying in 2004 for N10 million.
“I built four flats and a small house on it, lived there for a few years, and then sold the entire property for around N120 to N150 million in 2018, with my total investment being N55 million.”
