The surge in overseas property investment among Nigerians has been fueled by economic uncertainty. And not only rich citizens of Nigeria (who traditionally used this option) invest, but also middle-class members.
From the acquisition of real estate, investors expect not only to get a new place but also to obtain further citizenship of another country.
There are now 22 countries that offer citizenship by investment. Such countries attract foreign direct investment to develop the country’s economy and infrastructure. In return, the investor receives citizenship and a passport of this country with new opportunities that this passport opens up.
The most affordable and popular of all are the Caribbean Citizenship by Investment programs.
However, you can invest not only in real estate. Many countries offer several investment options, one of which is investing in a government fund.
Find out more about Citizenship by Investment programs here
Why do Nigerians buy property abroad?
Emmanuel Abiodun, a Nigerian who gave a short interview to nairametrics, said he did this to further generate passive income from renting out real estate. His compatriot Olugbenga was initially interested in obtaining residency in another country.
Source: nairametrics
