Nigerian Home buyers flood Atlanta Housing Market

Nigerian homebuyers are flooding the Atlanta housing market and paying top dollar. Within the last few years, the state of Georgia’s housing market has successfully attracted international investors especially from China and Australia; however, one company, Lux Property Investment Group (LPIG) is reporting remarkable success in sales to homebuyers from Nigeria since the end of last year, 2014. Could the high US Dollar to Nigerian Naira exchange rate be a reason for the sudden increase?

Atlanta is well known as an epitome of homes of superb architecture. More positive factors are the reason why Nigerians, like other international home buyers are now more interested in exploring Atlanta’s housing market.

The city of Atlanta is home to the World’s Busiest Airport and Top Fortune 500 companies such as; UPS, CNN, Delta Airlines, Coca Cola, AT & T, AFLAC, etc. Atlanta is the Number One Rental market in the U.S. (Forbes Magazine) it is considered the fourth best city in the U.S. to invest in (CNN Money). It is one of the least costly cities in the U.S. to do business and considered the Premier growth city in South Eastern U.S. Most Atlanta homes are priced below market Value; hence, a homebuyer can build instant Equity. There is always a waiting list of tenants, so Tenant Placement is guaranteed.

The tenancy laws highly favor landlords. It assures High ROI with guaranteed security of investment. Themarket favors “all cash” purchases. Atlanta has a great mix of renowned colleges and universities. You will typically pay less for a four bedroom single detached family home in Atlanta than you would for the same of its kind in Lekki, Lagos.

Gone are the days when Nigerians used to think that the process of buying a home in the U.S. was rigorous and impossible because of costs!

Lux Property Investment Group is an Atlanta based Real Estate Company that connects International Home buyers to U.S. Properties. They act mainly as an International “cash” home buyer’s Agent. Technology enhances the entire buying process with or without you being physically present. They have closed several deals via a combination of phone calls, videos, online applications, Skype chats, Facetime and pictures. All official ownership documents are transmitted to you in original form.

Houses are sold at reasonably low prices while the returns are predicted to appreciate within the next few years. “We have two categories of Nigerian clients, the Nigerian investor who intends to purchase a house at an average of $150,000 (#30million naira) and earn around $800 (#160K naira) or more on a monthly basis as rental income, the second category are high net worth individuals looking to splash their cash on Luxurious homes in anticipation of gaining equity from property value appreciation, these homes are in the average $1m (#200million naira) range”, says Mr. Adesina Adeyemi, a Managing Partner at LPIG. The Company also has its own “in-house” Property Management team, interior décor team as well as a Property rehabilitation service to help with “after purchase” services which most clients indulge and rate highly. LPIG is fully registered and recognized with the Corporate Affairs Commission in Nigeria. The entire home buying experience has been simplified by Lux Property Investment Group.

More than half of the company’s patronage comes from “word of mouth referral” and half of the home buyers have never visited the U.S. They also help with the procurement of Luxury automobile and heavy equipment such as; excavators, cranes and caterpillars.