To be honest, it is a good venture to invest in real estate in Lagos. The Lagos real estate market is growing each second. Nevertheless, location remains a very crucial issue in real estate. You have to choose the right location whether you are an experienced investor or a first time’s buyer. That’s how you can have a successful investment.
In this piece, we will review what you should focus on while picking a location. Also, we are going to show you some of the best real estate investment sites in Lagos city.
Factors to Consider When Choosing a Location for Real Estate Investment in Lagos
The long-term prosperity and financial gain of your investment depend on these factors. Treat each factor in conjunction with the others rather than on its own. That way, you will be better prepared for what you’re getting into.
1. Proximity to Work and Daily Activities
This should be your priority. Is the site close to your workplace and daily undertakings? Having a location close to your usual routes will help improve your comfort and overall health. It will also help you to save some time because you will not have to spend much time commuting.
2. Transportation and Infrastructure
You have definitely heard about Lagos traffic. You can’t ignore it! Ensure that your stay in the area will not be hugely affected by it. Also consider areas connected to main roads and other transport systems. Finally, look for areas prone to future improvements in infrastructure. These can affect the area’s attractiveness.
3. Safety and Security
You cannot overestimate this one. Consider the safety of that place. Assess crime rate and the quality of their community policing. You should choose a spot that will give you peace of mind.
Also Read: The Fastest Way to Become a Landlord in Lagos in 2024
4. Proximity to Schools and Educational Facilities
Consider the quality of schools within the community as well, if you have family or plan on having one. Ensure they are the exact ones you like. So, you would not have to move very far each day to go to school and come back home. The absence of such facilities could completely change your choice of location.
5. Future Development and Growth
Lagos is always changing. Some areas may be soon experiencing big development. Evaluate possible sites for future expansion, new initiatives and improvements to the current infrastructure. The best investment prospects are in expanding areas.
6. Neighborhood Amenities and Services
Think about the neighborhood’s amenities. Are any parks, shopping malls, hospitals, or other leisure facilities in close proximity? They improve your lifestyle and convenience in general.
7. Environmental Quality
Turn around in that area and look around you. Is it a calm area with clean air? Is there any park or any other green area in the environment? Good mood and healthy environment will change your life for the better and make your place more attractive.
8. Community and Lifestyle
Meet the people and understand the life there. Do you have clubs or groups that suit you? Is the mood in the environment good? The experience in that place can be even better if you find a lively community and a lifestyle that suits you or your prospective buyers.
7 of the Best and Most Popular Real Estate Investment Locations in Lagos
These are popular investment destinations in Lagos. The one you choose will depend on your budget, financial goals, and personal preferences.
1. Victoria Island
The island is known for its luxurious lifestyle and luxury housing options. It is a popular destination for professionals as it is the economic hub of Lagos. It is also home to many great companies. There are beautiful waterfront homes, luxury villas and high-rise buildings. It’s a wonderful place to invest if you’re hoping for a big return. Just be prepared for a financial cost as well.
2. Lekki
The very popular Lekki. Investors are attracted to this region because of its rapid growth. It is a center of trade and commerce. It is strategically located near Lekki Free Trade Zone and Lekki Epe Expressway. Here you can find a variety of properties to choose from. You are choosing.
3. Ikeja
You will find a mixture of residential and commercial properties in Ikeja. There are corporate headquarters, international organizations, office buildings, simple buildings and government offices. If you want to invest in high-end homes but can’t afford Victoria Island, this is a fantastic place to look.
4. Surulere
Talk about a culturally diverse neighborhood. Surulere features a mix of old and modern architecture in a culturally diverse community. The area is well known for its historical significance and strong community ties. Surulere offers many small business options and affordable accommodation. This option is less expensive than the previous three.
5. Ajah
Another fast growing district in Lagos. Ajah is known for its affordability and accessibility. It is well connected to Lekki and Victoria Island. This makes it more convenient for travelers and in-state commuters. Ajah has a variety of options to choose from in the real estate market.
6. Ikoyi
Talk about Ikoyi, talk about sophistication and money. Ikoyi has some of the top real estate properties in Lagos. This luxury location is home to expatriates, diplomats and the rich. Ikoyi villas and villas with breathtaking views. It is a high-investment-high-return area.
7. Epe
In 2021, the overlooked Epe started to get some attention. Since then, it has become a sought after location. A peaceful escape from the busy everyday life, Epe is known for its tranquil surroundings and natural beauty.
The area is attracting attention due to projected projects such as Epe Marina and Epe Resort. Additionally, Epe is a good investment opportunity with potential for future growth and profitability. This is because it is close to the Lekki Free Trade Zone and the expected Lekki Deep Seaport. Epe offers a unique opportunity for those looking for affordable land. It is a great way to invest in sustainability, business and agriculture.
Also Read: Step-by-Step Guide on How to Buy a Property (Land or House) in Nigeria
Conclusion
Success in Lagos real estate depends on your investment decisions. If you want to invest, you need a thriving, safe, and accessible community. Things to consider are fast travel and good materials. Also look for safety, reputable schools, potential for expansion, nearby amenities and a welcoming community. Invest wisely to make the most of your finances.
Would you like to come for land inspection so as to buy land or house in Epe, Ajah, Lekki, Ibeju-Lekki, Lagos or anywhere in Nigeria? Reach out to us on +234 806 400 3456 or send an email to support@godslandempire.com. We are ever ready to assist you on your property ownership journey in Nigeria.
