It’s not surprising that Nigeria is the most populous country in Africa, with almost 52% of its population in urban areas. This is because most of the country’s population is migrating to the cities for one reason – A better life.
You know what this means. Higher demand for accommodation translates to a boom in real estate. and as the currency looses its value and erodes the middle class, also the price of real estate skyrockets, a lot of people are looking for cheaper places to buy land and own real estate.
The spate of housing construction in several locations in Lagos is bringing hope of an imminent recovery in the real estate sector of the economy in 2022.
What are the best places to buy Cheap lands in Nigeria?
Nigeria is blessed with a large expanse of land. Sadly, not all of it will make for an excellent strategic investment. The deciding factors on where to buy lands in Nigeria are development, the standard of living, and good amenities. These are the major factors upon which the selections are made.
According to research done by experts, Lagos, Abuja, and Port Harcourt are among the best places to buy land in Nigeria.
Looking for Places To Buy Cheap Land In Lagos State? This is the question of most Nigerians, in this article we have listed the best and cheap places to buy Land in Lagos State.
There is no doubt that Lagos State is a peaceful place to live and the commercial hub of Nigeria, so if you are planning on becoming a landowner in Lagos state and you plan to own land in areas like Ikorodu, Lekki, VGC, Ikoyi, Apapa, Ikotun, Orile, Ojo, Festac and other fast-developing areas in Lagos State then you are in the right place.
There is something I really love about this generation of Nigerians, “everyone is saving to buy a land,” with this kind of positive mindset I am sure you don’t want to be left out, better join the moving train and own yourself a property just like myself.
You might not take this seriously now as you might not even know how important it is to buy a piece of land in Lagos, but for the fact that you are reading this article, I believe you have taken the first bold step. It is never late if you buy land in Lagos now.
Could you believe that 10 years ago a plot of land is sold for ₦300,000 in Lekki, presently, getting a plot of land in Lekki can never be sold for less than ₦25 million, can you see how the rate multiplied itself within a time frame of 10 years?
Mind you, the price of a plot of land in Lekki will definitely increase more in the next 2 to 3 years. The smart investors that got themselves a piece of land in Lekki back then will definitely be getting a whopping profit in anything they do on the land, whether it is for rent or for business purposes
Land investment is one of the most profitable ventures in Lagos and subsequently Nigeria and it can yield high returns if you know where to buy, as your property or land will appreciate really fast.
Here is a list of top spots to consider when planning to purchase Land in Lagos
Ibeju Lekki: By most people in the real estate sector this area has already been termed the next Lagos due to the high volume of investments and infrastructure development going on by both the public and private sector. Making it a hot spot for purchasing Land, land there already sells in the range of a million-plus and this will increase further as more investments and capital projects by the government are done there.
Epe: close to the Ibeju lekki axis this is also a very lucrative place to purchase land as the direct investment and inflow of projects and investments in Ibeju lekki would directly affect land appreciation in Epe.
Lekki: This area needs no introduction, and despite what people think, there are still large areas on land on the lekki axis still available for purchase and not as pricey as you would think.
Magodo: This is a very good area for anyone willing to buy land in Lagos. Its close proximity to the capital of Lagos, Ikeja, makes it a good choice for all seeking a good spot to purchase land. Magodo has well-developed road networks and is home to some nice estates.
Sangotedo: Located after Ajah, this area has witnessed a commercial boom in just a few years and is now one of the top spots on the island to purchase land from. There is already a heavy presence of estates and residential homes there and more is likely to follow over the years.