In Lagos, there are several real estate firms that offer both built-up homes and landed properties for middle to upper-class earners, and these firms are all competing for clients by offering packages that make their properties more affordable. Some of the most popular firms include Lagos New Town, Vines Realty, RevolutionPlus, Adron Homes, Merit Abode, Richfield Limited, and Greenville Estate.
The properties offered by these firms are located throughout Lagos, and some of the most popular areas include Lekki, Ajah axis, Ikorodu, Isheri North, and Epe.
Lekki, Ajah axis
For those interested in the Ajah axis, the areas that are rapidly developing and experiencing growth include Ibeju Lekki, Lakowe, Abijo, Awoyaya, Sangotedo, Ajah, Lekki Phase 2, Ikota, and other suburbs within the Lekki Peninsula. The cost of land at Almond Vines Phase 1, Ibeju-Lekki is N5 million for 600 sqm, and payments can be spread out for up to 12 months. At Okun Imedu, a plot of land costs between N1.8 million and N5 million, and they come with Approved titles.
For those interested in Ikorodu, the land is relatively cheap in areas such as Ogijo, Imota, Ijede, Igbogbo, Imowonla, Igberigbe, Igbolomu, and Isawo. For instance, in Morekete, Igbogbo, a plot of land 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 of properties located in these areas due to the high demand for land and an ongoing road expansion project by the Lagos State Government that is expected to be completed by August 2022.
In Isheri North, land prices range from N3.5 million to N5 million, depending on proximity to the main Isheri North road. Some are located close to Channels Television and offer 600 square metres of land for N4 million.
In Epe, there are many opportunities for real estate development, and land in the area is relatively cheap. Some lands are still sold for as low as N1 million and as high as N4 million, depending on the location.
Before purchasing any property, it is important to conduct thorough investigations to ensure that the property is owned by the lawful owner(s) and is not under government acquisition. The title documents should also be vetted by a lawyer for originality, and it is best to avoid purchasing a property that is in any form of the legal or family dispute to avoid inheriting problems that could cost you more money to solve.