Real estate investment in Lagos appreciates more than 100 percent in a span of 5 years
Did you know? The average age of first-time house buyers in Lagos is 27,buy some land first, even if you don’t do anything else.
Did you know? By 2025, the Lekki property market would account for more than 70% of Lagos’ wealth. Mainland properties and land are less expensive and appreciate more slowly than those on the island. In Lagos, there is a severe housing scarcity due to the city’s expanding population.
Property prices in Lagos are determined by their location and surrounding environment. Those in developing areas on the island are less expensive and appreciate faster than prices in developed areas on the island, whereas prices in developed and developing areas on the mainland appreciate at a slower rate than those on the island. Regardless of the unpleasant experiences some people who tried to invest have had in the past (whether with the so-called “omo onile” or the law), real estate investment is a sure method to keep living.
When deciding which properties to buy or invest in, it is best to hire a certified property consultant (realtor) who is familiar with the laws of landed property and the state to save you from the hassles and difficulties that come with buying on your own, as well as to advise you on the best possible investment to make with your budget. Contact us today for enquiries and advice on real estate.