Urbanization is simply a population shift/movement from rural to urban areas. This shift/movement in population is caused by several factors such as better living standards, better opportunities for jobs and life in general, etc. This process results in a lesser rural population and more for the urban areas, resulting in urban challenges of which housing is chief. Major cities in Nigeria are already experiencing urbanization as most of them are becoming over-populated and inadequate to cater to the increasing population. State infrastructures are over-used bringing about re-occurring damages and a hike in maintenance cost, putting the state governments more under pressure. The private sector is also working extensively hard to mitigate the negative effects of rapid urbanization in the country.
According to a post on Bloomberg.com, Lagos, a classic example of the negative effects of urbanization in Africa especially in the housing sector has a housing deficit of 2.5million units, one of the highest in the world.
With all these obvious challenges, why should anyone market the products of an industry with so many challenges? The reason is simple, opportunities abound in the midst of challenges.
To fully understand why you should market real estate products, take a moment to consider the number of real estate firms already in the country. As we speak, there are over a hundred (100) real estate companies in Nigeria with more kicking off business every day. The question to answer is simple if there are no opportunities in the industry, why are so many companies starting in the industry?
As already established in the opening paragraphs of this article, urbanization means more people in the cities. When they migrate, housing becomes a major necessity. At the initial times, they will need rental accommodations as they are looking to find their foot. As they gain balance and begin to stabilize, they begin to see the need to own their properties and make other investments are they become more financially buoyant.
As a real estate marketer, you stand a chance of earning income from rentals, property sales (lands and buildings), etc. So you see, the more the population increases due to urbanization, the more likely you make money as a real estate marketer.
You can begin your real estate marketing journey with Pwan Edge Today. Leave a comment or call 08166515987.