In the last few months, there has been an increase in demand for land and properties in Ogun State.
Currently, Arepo, Magboro are the major 2 locations in Ogun State where more and more people, especially from Lagos are trooping to buy houses and land. The two locations is just 5 minutes drive away from Berger bus stop.
Don’t forget that, location is very key in the real estate business and it is one of the determinants in the real estate market. Location of property always has an effect on the demand and price of a particular landed property. The price of landed property in Lekki Phase 1 is different from Ibeju-Lekki because of the location. Most times, the accessibility to property always plays a key role in the appreciation of that particular property.
Lately, a lot of property players and individuals have been positioning themselves in and out of Lagos. The scarcity of land in Lagos has forced many of them to move to the border side of Lagos like Magboro, Arepo, Ibafo, Simawa and so on. Prices of real estate in those areas have also moved up because of many reasons. The recently completed rehabilitation of Lagos/Ibadan 4 highways road is a major factor for this
Arepo/Magboro are a fast-developing district and smart investors are keying into exploring the future realty benefits it has to offer. A few years back, lands in Arepo/Magboro sold for as low as N800,000. Seeing an upsurge in development, and owing to the ever-growing population of Lagos State, a plot of land at Arepo now cost as much as N20 to 40m. Arepo is now being referred to as the new Magodo.
Arepo is on the right side of the road after the long bridge from Berger, while Magboro is adjacent. The two locations share some unique similarities but Arepo has better road.
Arepo is approximately a 7-minute drive from central Ikeja, while Magboro is under 10 minutes drive from Alausa. The two locations are perfect locations for 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. In this write-up, we’ve highlighted five reasons why you should invest in Arepo and Magboro and why it’s a hot spot for the real estate business.
HIGH RETURN ON INVESTMENT
Investing in Real Estate any day anytime is a smart way of yielding a steady inflow of cash, It’s amazing how much a plot of land in Arepo and Magboro are selling as at now unlike what it was before. With a fast-developing area like Arepo and Magboro, which is close to the busiest economic cities in Africa, there is no doubt on the financial return on investment that will be generated from your investment in it. Currently, prices of land has gone up in the two locations. An average land price in Magboro now is around 15 million naira, while Arepo is around 20 million naira and above.
YOU WON’T HAVE TO DEAL WITH TRAFFIC
The recently complete Lagos/Ibadan expressway is a major factor for the development of these areas. In less down 10 minutes drive from Alausa Ikeja, you are in Arepo or Magboro and houses are relatively cheaper in these locations compared to Lagos.
We all know how much time is spent on traffic in Lagos, the traffic in Lagos can be really frustrating, it will only be wise to leverage areas close to Lagos as time spent on traffic on a daily basis can be totally reduced and your time can be channelled to more productivity.
CLOSE PROXIMITY TO LAGOS
The proximity of Lagos to Arepo/Magboro gives the area the opportunity to reap the benefits of being close to Nigerians commercial nerve centre. And it is steady leveraging on this, as already seen in the price of its properties which will continually increase..
AREPO IS SERENE AND COOL
The lack of large expanses of land, the clutter, noise, and many individuals and organizations in Lagos is a good reason to invest in Arepo, Arepo offers serenity, fresh air, a cooler environment than Lagos and a fantastic return on investment as the prices on houses are relatively cheap.
There are also some areas in Magboro that have this feature.
LUXURY ESTATES
Magboro and Arepo have considerable number of popular luxury estates, some of which are Journalist Estate, Voera Estate, Praise Hill Estate, etc. The fact that these estates are in Arepo tells you the area is fast becoming a hot cake.
In conclusion, Arepo and Magboro are not just a cool place to be or live in but they are the next best choice for Nigerians who work in the Center of Excellence and are looking for stress-free ways to commute within the city. There’s also a host of affordable properties you can key into and start building on the go. People are taking advantage of the opportunity to invest in Arepo/Magboro and it has over a few years proven to be a promising point for real estate investors.
– ISAAC ABIMBADE
08155107955
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