Oyo’s Rental Houses are Perfectly Located
Oyo state is situated in Western Nigeria, and is the home state of the capital city, Ibadan, which was the seat of administration of the old western region during the colonial era. The inhabitants of Oyo state are mostly Yoruba and boasts several tourist attractions, which include the first university, sky scraper, and the first story building in Nigeria.
Ibadan is the commercial nerve centre of Oyo state, with industrial areas like Oluyole estate offering fantastic houses for rent and for sale. Oyo state shares borders with Ogun state, Kwara state and Ogun state, although the property markets vary significantly between these regions. Consequently, the easiness of finding a suitable house for rent in these areas varies by location and time of year.
The state has a lot of educational institutions which include the renowned University of Ibadan, and other tertiary institutions like LAUTECH (Ladoke Akintola University of Technology), Ajayi Crowther University and Lead City (private university).
Oyo state is a very quiet and peaceful state, with Ibadan being its busiest city (and compared to Lagos state, the ‘busy’ Ibadan is relatively calm). There are several farms for both crops and animals, especially cattle, which is why they sell things like the local cheese, wara here.
There are lots of markets which are enabling platforms for local traders, who trade in food items like yam, plantain, cashew, banana, palm kernel etc. These markets include Shasha, Sango, and Aleshinleye.
Houses for Rent in Oyo Cater to All Tastes and Budgets
Houses for rent in Ibadan are very cheap compared to other states like Lagos and Port Harcourt. Modern structures such as terraced houses, duplexes, bungalows are beginning to crop up especially in Ibadan. These houses are constructed in exclusive neighbourhoods and housing estates such as Akobo, Ikolaba Estate and Kolapo Ishola Estate (all in Ibadan).
In other less developed towns like Awe, Kishi and Oyo town, the more conventional bungalows, story-buildings and houses for rent are available at very affordable prices. Ibadan also has to its advantage leisure centres, malls and eateries like KFC, Shoprite, and Dominos.
Prices of houses vary according to location, exclusivity of the area and centralization. The houses in the state capital, Ibadan, are usually more expensive than in other parts of the state, although some places in Ibadan like Bere and Itamerin are densely populated, with average to low income earners resident there and houses are rented cheap there.
Consequently, a block of bungalow at Kuola Express area, Apata, Ibadan is leased at an ₦ 8,000,000 annual rent, while a 4 Bedroom Bungalow on Alhaja Sarat Street would go for as low as ₦ 100,000 per annum. A 6 bedroom duplex at Alalubosa, GRA Ibadan ( a respectable neighbourhood) would command ₦ 3,000,000 in rent per annum while a block of four 3-bedroom flats opposite New Garage Road, Apata, Ibadan would go for around ₦ 120,000 yearly rent.
Remember, you can never be too careful when it comes to property investment.