Best Places To Buy Land In Lagos: The largest metropolis in Nigeria, fondly termed “Eko” way before colonization, Lagos state needs no introduction. The state is known for its nightlife, beach resorts, as well as The Third Mainland Bridge, which connects the mainland to Lagos Island. Lagos is one of the fastest-growing cities and urban areas in the world, which sets it apart from many other African cities. Boasting one of the highest GDPs in Africa, Lagos is undoubtedly the land of wealth.
Experts claim that the Lagos State real estate market is the most lucrative and attractive in Nigeria. Real estate is a successful endeavour that investors watch out for. Real estate investments offer tax benefits, gains from appreciation and rental income, and inflation protection. Land investing is one of the most lucrative ventures in Lagos and, by extension, Nigeria, with the potential for enormous returns if you know where to buy, as your land would appreciate quite rapidly. With that in mind, this article examines the best places to buy land in Lagos.
Top 9 Best Places To Buy/Purchase Land In Lagos
1. Ibeju Lekki: Over a hundred thousand people live in Ibeju-Lekki, a local government territory in Lekki. Its quick continuous expansion and possession of vistas of the lagoon and the seashore have earned it the moniker “new Lagos.” Lekki Golf Course, New Lekki International Airport, Lekki Free Trade Zone, and the Dangote Refinery and Petrochemical Plant are just a few of these new developments.
The Lagos government picked this location to house the Lekki Free Trade Zones, which have drawn both domestic and international investors due to the tax benefits and free zone earnings. With all of the ongoing developments in Ibeju Lekki, the price of land in this local government will surge in the coming years.
2. Arepo: Arepo is a satellite town of the Lagos/Ibadan Expressway in Ogun State’s Obafemi Owode Local Government Area. Due to its classic style and the type of great buildings built in the town, it is a wonderful place to live. The city is a vibrant place with wonderful restaurants, parks for entertainment and relaxation, and shopping centres, to name a few.
Many consider Arepo as one of the rapidly developing areas situated on the outskirts of Lagos State. And one of its advantages is that it capitalizes on its proximity to Lagos State. Some early investors have already begun to see a return on their investments as the price of lands at Arepo has gradually gone up over time. The anticipated construction of service lanes in connection with the Lagos-Ibadan Expressway is a recent development that is now taking place in this area. In addition to being close to Lagos, it is situated in a peaceful area devoid of tension and noise.
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3. Epe: Epe is another location with a strong potential for increased land value. Due to the continuing developments at Ibeju Lekki, land prices in that region will consequently spike over time. The result would most likely be a surge in demand for lands at Epe as people seek alternatives with lands at a cheaper rate.
This is made possible with the road construction project of Ibeju Lekki-Epe Highway proposed by the Governor of Lagos State aiming to provide ease of transportation for everyone going to and fro Ibeju Lekki and Epe.
4. Ikorodu: Another area of Lagos that is rapidly developing is Ikorodu; it has been noted that a significant number of individuals are relocating to this area of the state.
The Lagos State government has built hundreds of homes and estates in this area as part of previous and current programs to attract more residents to the local government, in addition to building highways. The demand for land at Ikorodu will rise as a result of the increased migration to this region. This increasing demand will therefore push up the value of land in this location.
5. Simawa: Over 10,000 people from all walks of life and ethnic groupings live in Simawa, a developing region in Nigeria that is situated behind the Redeemed Christian Church of Christ campground. The area is quickly drawing growth and is emerging as a haven for travellers, settlers, and property investors who value beauty, comfort, and affordability. One benefit that cannot be overstated is Simawa’s proximity to the Lagos-Ibadan expressway. The expressway has been shown to be one of the busiest roads in the nation and one of the biggest road networks in Africa. It is also the busiest interstate route in the nation.
Its surroundings are home to several famous points of interest, including the campsite for the Redeemed Christian Church of God, Redeemer’s University, Caleb University, etc., which draw tourists from all over the world. Simawa’s land prices are currently reasonable, but they are steadily rising, making it a smart investment for those who plan to sell their properties in the future.
6. Agbado: Agbado is another great location in Lagos to purchase land. Roads, estates, infrastructure including power, and many more improvements are all under construction in the area.
A plot of land can be procured with about N900,000 naira. There are still some regions in Agbado where land is not being sold. They are Abule Ekun Olambe, Abule Ekun Olambe, Oluwo, Abule Ekun, Akera, Ishaga, Ijaiye, Adiyan Ibaragun, and Oremerin.
7. Abijo: Lekki and Abijo are around twenty minutes apart by car. Due to the increasing value of real estate in neighbouring towns like Sangotedo, it is anticipated that Abijo would have a population increase within the next five years.
Due to the extensive development taking place in the area, land values have increased by 80% in just four years. Arium Estate, Abijo GRA, Eastland Golf Estate, and other side attractions are examples. One of the fastest-growing communities in Ibeju-Lekki, the town is the only government-reserved area in Lekki. Despite being just as developed as Ajah, Abijo offers more reasonably priced real estate.
8. Magodo: For anyone looking to purchase land in Lagos, this is a desirable place.
It is a wonderful option for anyone looking for a suitable location to buy land because of its proximity to Ikeja, the metropolis of Lagos. Magodo has a good network of roads and some lovely estates.
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9. Sangotedo: In between Iranla and Ogombo, to the south, is Sangotedo. It is around 20 minutes drive from Lekki and 35 kilometres from Ikeja. Short-term apartment rentals are profitable in Ajah and Sangotedo. The increased influx of residents to Sangotedo has prompted investors and company owners to relocate their operations here.
This area, which is after Ajah, has seen commercial growth in only a few years and is currently one of the best places on the island to buy land. There are a lot of estates and residential residences there currently, and more are probably going to come in the future.
Conclusion: The city of Lagos is popular for a lot of reasons and one of the most popular reasons is real estate. For many, purchasing land isn’t sufficient; but purchasing land that has a significant potential for financial gain and also in a serene environment is key.
With the information contained in this article, you are well on your way to successfully acquiring land in Lagos State. No matter where in Lagos you choose to acquire land, always do your research. To determine the property’s legitimate owner(s) and make sure it is not subject to government acquisition, it is crucial that one carries out thorough research. Additionally, the originality of the title paperwork for the property should be vetted (ideally by your attorney).
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