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Lagos arial view

aThe decision to buy land in Lagos in is a complicated decision. It requires a lot of due diligence(DD) work on both the seller(agent) and buyer to ensure that all T’s are crossed and all I’s dotted. It costs a lot of money(investment capital) to buy land in Lagos today. But real estate remains the safest long-term investment vehicle for the Nigerian market to date.

If you are still on the fence and have yet to decide to buy a land or house in Lagos, I have shared the 7 core reasons why you should buy land today.

1. You are a Nigerian.
This looks like an obvious reason but you will agree with me that Lagos is the number 1 business hub of Nigeria before we look at other cities like Abuja, Port-Harcourt, Onitsha, Aba, Asaba, Jos, and Kano. Lagos is a thriving city with constant development and a high-growth of population. Areas like Ibeju-Lekki, Epe, Ketu-Epe, and Sangotedo are already seeing massive development since Ikoyi, Lekki, VGC, and Ikeja are already overpopulated.

According to a report by Emmanuel Akinwotu on NPR, Lagos is Nigeria’s coastal megacity with thousands of people moving into the city to seek their daily bread. You should buy a piece of land or more in Lagos as an investment in the fastest-growing city in Africa. Lagos as a commercial hub has a lot of potential for lands within the city and towns that have proximity to it. The value of land in Lagos appreciates faster and gives you a high Return on Investment.

2. Investment Potential
With the high population and density of Lagos comes a problem that needs urgent attention- Housing. With a population of over 21 million and counting, Lagos poses a vibrant investment potential for real estate investment. Also, the Nigerian government is investing heavily in Lagos state infrastructures like Lagos Business School, Lekki Deep seatport, Dangote Refinery and more.

According to a report on the announcement made by the National Investment Promotion Council in 2022 by Nairametrics, Imagine a land purchased in Lagos gaining over 300% Return on Investment in less than 10 years as experienced by people who invested in places like Ikoyi, Victoria Island, Ikeja in the early days. Nigeria had a total Nationwide investment value of $23.30 billion and Lagos state led it by $8.7 billion. The potential continue to grow exponentially on a year-to-year basis.

3. Investment plan
Having multiple streams of income is one way to secure your financial future and real estate is a sure investment strategy that guarantees that you earn high return on investment(ROI) while you secure your financial future. Your investment plan must include real estate and you buy a land in Lagos, a fast developing megacity in Africa to achieve your investment goal.

Real estate is an investment that works for you while you are doing other things that generates income or you. As an investment plan, you buy a land in Lagos and your money works for you to accumulate more revenue. Many see real estate as an investment for the rich but that is a wrong mindset.

Your level of income is not limitation to investing in real estate and you can own a land in Lagos with as little as Five hundred thousand Naira (N500,000.00) initial deposit. You can start from where you are and build your investment portfolio over the years. We connect you with lands and properties that offer instalment payment plans and help you to achieve your investment plans.

4. High Rental Income
Lagos has a high demand for rental properties due to its large and diverse growing population. When you buy a land in Lagos and develop rental properties, you can earn a steady stream of rental income. Whether you develop your properties for residential or commercial purposes. Commercial properties can be in the form of short lets, office spaces, and hotels.

This is especially appealing if you choose a location with proximity to business districts, airports, Beaches, universities, or other areas with a high demand for housing and office spaces. Lagos is experiencing rapid urbanization and development. Investing in land in areas undergoing urban development like Epe, Lekki, Ikeja, Ibeju-lekki, and Sangotedo can yield substantial profits as the infrastructure and amenities improve.

Proximity to major road networks, public transportation, and commercial centers can increase the value of your land investment.

5. Diversification of Assets
One sure way to diversify your assets is to buy a land in Lagos. Real estate investments can provide stability and act as a hedge against inflation, especially when compared to more volatile assets like stocks or cryptocurrencies. Owning land in Lagos can be a part of your asset diversification strategy and provides several benefits like-

Stability and Long-Term Value: Real estate, including land, tends to be a relatively stable investment over the long term.

Hedge Against Inflation: With the continuous depreciation of the Naira value and high inflation which is at 26.72% as of September 2023. Real estate is often considered a hedge against inflation. Inflation erodes the purchasing power of your money over time, but real estate typically appreciates in value, helping to offset the impact of rising prices.

Tangible Asset: Landed properties are tangible assets that you can see and touch. You have a physical asset that you can use, develop, or sell as you see fit. Unlike stocks or cryptocurrencies, which are intangible and exist only in digital form, real estate provides a sense of security and control.

Finally, I have shared 5 top reasons to buy land in Lagos however every investment comes with its own risk. It’s important to conduct thorough research, consider factors like location, property type, and local regulations, and work with a reputable real estate agent or lawyer to ensure a smooth and legally sound land-buying process in Lagos.

Real estate investments can be lucrative, but they also come with risks, so it’s essential to make informed decisions. DemeraldHomes is a reputable real estate agency here innLagos, Nigeria that connects investors like you with vetted real estate vehicles – lands and buildings to ensure security and peace of mind. Book a call today.