The real estate sector in Nigeria is one of the sub-sectors of the economy where people make cool money. It is one of the few places where big guys could put their money for a big investment. It’s a sector where you can hardly get it wrong, if you subscribed to a titled property, your story could change within a few years in the business if you invested right.
This week, we shall be writing on places or locations where low, medium and high-end investors could buy and make cool money. Some of the locations are border areas between Lagos and Ogun State. They are, however, objects of high returns on investment. Below are the locations.
LEKKI, AJAH AXIS
A prospective investor inland could look at the Ajah axis of Lagos State where fast-growing areas such as Ibeju Lekki, Lakowe, Abijo, Awoyaya, Sangotedo, Ajah, Lekki Phase 2, Ikota and other suburbs within the Lekki Peninsula boasts available land.
At Cherish Estate, Musoyo, Ibeju-Lekki, the cost of land (600 sqm) goes for N4.5 million and payment could be spread over 12 months. Also at Okegun, along Lekki Epe Express Road, after Eleko Junction, a plot of land goes for between N4.5 million and N6 million, and they come with Approved Excision.
IKORODU
Land in Ikorodu is also relatively cheap, particularly in Ogijo, Imota, Ijede, Igbogbo, Imowonla, Igberigbe, Igbolomu and Isawo areas. For instance, in Morekete, Igbogbo, a plot of land now sells for between N3.5 million and N4.5 million, while a plot costs N3.5 million in Gberigbe. At Bayeku, a plot sells for N1.5 million.
There are good prospects for a rapid appreciation in the value of properties located in these areas as well. Aside from the high demand for land in Lagos State, there is an ongoing road expansion project being carried out by the Lagos State Government in that axis. The project is expected to be completed by August 2022. This access road is sure to increase the value of properties in the area once completed.
ISHERI NORTH (CLOSE TO CHANNELS TV)
The price of a plot of land in this area falls between N3.5 million and N5 million, depending on the proximity of the area to the main Isheri North road. Also, 600 square metres of land at Diamond Estate, within OPIC Estate and close to Channels Television, goes for N4 million.
EPE
There are vast opportunities for real estate development in Epe and land in the area is still quite cheap. Some plots of land are still sold for as low as N1 million and as high as N4 million, depending on the area. For instance, 600 sqm of land in Golden Castle Estate is sold for N1.5 million.
AMUKOKO
The best place after Ikorodu to get cheap land in Lagos State is Amukoko, located in Ajeromi Ifelodun Local Government Area. You can visit this area to confirm that there are still plots of land waiting for buyers and you can get them as cheap as 750,000 naira to N1,300,000 naira on Ojo Road, Imam, Oja, Alaba, Tejumola and Turner.
AGBADO
Another cool place to buy land in Lagos is Agbado. The area has many ongoing construction projects; roads, estates, infrastructures like electricity and so many other developments. With N900,000 naira you can acquire a plot of land. Agbado still has some areas where land(s) are not sold. They include Oluwo, Abule Ekun, Akera, Ishaga, Ijaiye, Adiyan Ibaragun, Abule Ekun Olambe and Oremerin
IJEGUN
Ijegun area is very popular in Lagos State. Despite the popularity, cheap land is up for grabs. You can get a cheap plot of land in Ijegun. Mind you, there are lands for sale in a swampy area such as Isheri Osun, which are also good if you have the grade of the resources and to maintain it. In places like Animosho, Fagbile, and so on, you can get good piece of land in Ijegun at 600,000 naira per plot, but they are very close to the swamp and white sands areas so you might have to do sand filling, but trust me, they are good lands.
AKUTE
It is very easy to get a plot of land in Akute, and other areas like Ijoko, Ojodu Berger, Ojokoro, Ibafo and Ijoko. If you go to those areas you can easily become a landowner. They sell at very reasonable prices and owing to this, massive development is ongoing in every part of Akute.
AGBOWA
It is advisable you hurry up in case you are planning to buy land in the Agbowa area of Lagos State. Investors are trooping en-mass to Agbowa and most of the areas are almost sold out. You can buy land in Agbowa in areas like Abosioto, Abule, Aba-Onigbagbo, Ijesha and Aba-Oriyanrin.
BADAGRY
Badagry is a historical place. It bubbles with enjoyment and boasts of resorts of all kinds. The weather of Badagary is conducive to health and development there is at a speedy pace. I have to advise you to be very careful when buying land in Badagry so, you don’t fall victim and get duped. You can get a plot of land in Badagry for as cheap as 1 million naira and above, most of the plots of land there are government-owned property, so make your findings well before purchasing a piece of land there.
AREPO
Arepo is a satellite town of the Lagos/Ibadan Expressway in Obafemi Owode Local Government Area of Ogun State. It is a delightful place to live, owing to its classic nature and the type of magnificent structures erected in the town. The city is a bubbling environment and boasts amazing restaurants, recreation parks, relaxation centres, shopping malls, to mention a few.
Arepo is a fast-developing district and smart investors are keying into exploring the future realty benefits it has to offer. A few years back, plots of land at Arepo sold for as low as N800,000. Owing to an upsurge in development in response to the ever-growing population of Lagos State, a plot of land at Arepo now costs as much as N15m. The location is also referred to as the new Magodo.
Arepo is approximately a few-minute drive from central Ikeja. It is home to more than 4,000 residents. A perfect location for the middle-class citizenry, who want to live close to the Lagos capital thus making commuting stress-free. No one loves to spend those long hours in holdups.
SIMAWA
Simawa is a suburb community located behind the Redeemed Christian Church of Christ campground. It has a population of more than 10,000 people from all walks of life and ethnic groups in Nigeria. The community is fast attracting development and is turning out to be a combination of beauty, comfort and affordability for traders, settlers and real estate investors.
Other places in the border areas of Ogun and Lagos States where people now rush to buy land are Magboro, Mowe, Ibafo and the new Redeemed Church Auditorium in the Simawa area.
– Isaac Abimbade
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