Lagos state remains one of the very key state most Nigerians desired to invest in because of the rate at which property appreciate fast. Real estate investment thrives greatly on commerce and Lagos is arguably the headquarter of commerce in Nigeria and Africa at large.
Acquiring a land within the developing axis of Lagos isn’t just acquiring a land per say, its acquiring an investment especially when your aim of investment is to make profit i.e getting high returns on investment (ROI).
To get the best out of Lagos State real estate sector, there are key considerations to tick on your checklist when making real estate investment decision and these are:
Title – of the property you are buying. You can get more details on land documents you must know when buying land anywhere in Nigeria in my next episode.
Location – In property purchase or acquisition, Location plays a crucial role in where you can buy land in Lagos and get a high returns on your investment. Also your preferred location would influence your budget. There are some certain factors to consider in location when buying land in Lagos.
The list below shows some premium locations to buy Lands in Lagos for Maximum Returns on Investment;
Chevron/Lafiaji/ Second Lekki Toll Gate
Note that all these area are within one corridor, which is Lekki-Ibeju Lekki Corridor.
REASONS WHY YOU CHOOSE INVEST IN REAL ESTATE IN THESE LOCATIONS
– Greatest Potentials For Future Appreciation
These locations make it to the top of the list because of certain characteristics they possess aside from being extremely convenient for buyer in terms of prices, they also have the greatest potentials for future appreciation.
These are fast developing locations and Investment should always be encouraged in a growing location especially for a middle class population, as buying properties in an already established area has proven to be extremely expensive and mostly out of reach.
Example: Currently a plot of land in Abijo GRA currently sells between for N8,000,000 and N11,000,000 per plot.
In 5 years it could sell for N40,000,000 or N45,000,000 per plot and in another 10 years, its still going to follow this trend in appreciation in price until it reaches a point of resistance.
At this point it could be selling at N100,000,000, N120,000,000 per plot that’s depending on the level of developments and value that has been added to this location.
For instance, Lekki Phase 1 has already come close to that point of resistance.
About 20 years back, Lands within Lekki phase 1 were selling below N1,000,000 per plot, and there was a high potential of appreciation in price then but now plot in Lekki phase 1 sells between N200,000,000 to N250,000,000 and it has reached its peak appreciation rate as land in Lekki Phase 1 can only appreciate by 1%, 2% or even less.
Therefore anyone who’s currently buying a plot of Land in Lekki Phase 1 is not buying because they are seeking appreciation in price instead they are buying because of development that has evolve around the location.
– Close Proximity to Basic Amenities
The locations listed above have close proximity to basic amenities of life. Amenities and infrastructures are basic contributing factor to capital appreciation of real estate investment. This is one of the major reason why seasoned real estate investors take trends around infrastructure very seriously.
The Lekki – Ajah Environs share close proximity to shopping complexes, Gym facilities, Parks & Playgrounds, Hospitals, Gated estates and communities, Lagos Business School, British International Schools and several Private own educational institutions.
Ibeju Lekki and its environs have shown a potential for growth in terms of infrastructural development such as the Lekki Free Trade Zone (LFTZ), Dangote Refinery, Lekki Deep Sea Port, New International Airport, Shopping Malls, Factories, Several Gated Estates, Schools.
Present of Infrastructures in a particular location will drive up the value of properties located within while absence of such infrastructures will drag the value down.
– Easy Access To Transport Facilities
Its arguably a known fact that landed properties located in neighbourhoods with good and accessible road networks records good returns on investment over the cause of time while neighbourhoods that are difficult or stressful to access will tend to lose value fast.
Roads networks within the Lekki-Ibeju Lekki environs are well connected and easily accessible to major infrastructures. This is a boost to property appreciation in this corridor.
– Has Alluring Potential For Business & Companies
Ibeju Lekki is fast becoming the heartbeat of Lagos state economy because at the moment it is the fastest growing axis in Lagos for commercial and residential real estate.
Multi-national companies and locally owned firm are now positioning themselves in this region ahead of the big bang that will engulf this location as a result of government policies and economic indicators favoring this location.
A lots of Job would be created and corresponding provision of houses for employees and all staff of these establishment brings about an increase in value and return on investment.
Final Thought On 5 Lucrative Locations To Buy Land in Lagos
The best time to buy real estate is before the developments happen, because its going to be cheaper at that time. The more developments that happens the higher the price.
Invest in that estate today, before development goes there fully. Just make sure you look out for the pointers, don’t make the mistakes of thinking a place will become developed when there are no pointers that any of such things will happen.
Remember, where development is, value is added and returns on investment is guarantee.
I can help you get started and make that smart move today:
Courtesy: Chief coach
Call/WhatsApp Fadec +2347060942078.