Lagos, the commercial hub of West Africa and Africa’s most populous city, needs no introduction in the world of real estate. Renowned for its dynamic growth and unyielding opportunities, Lagos has firmly established itself as a thriving location for real estate investment and development in Nigeria.

For this reason,  buying land in Lagos, Nigeria offers a great opportunity for rapid appreciation, making it a smart and profitable investment within the shortest period.

 

Many believe that because of Lagos’s high prestige in real estate, owning land is impossible, and prices are always out of reach but this is not always the case.  

 

In the blog post, we will share the top locations where you can find affordable land in Lagos. 

 

When you are done reading through this blog post, you will discover where to get lands below 1 million naira. 

What are the reasons why buying land in Lagos is an excellent idea? 

1. High ROI: Investing in land in fast-developing areas in Nigeria like Lagos can yield a significant ROI, sometimes up to 100%. Maximizing this potential requires allowing sufficient time between purchase and resale.

 

2. Land is in constant demand: Buying land in Lagos is a smart investment because its limited supply and constant demand drive up its value. This ensures you can easily find buyers and benefit from increasing prices over time. place

 

3. Passive income: Land can generate passive income through methods such as renting out developed structures or leasing the land. This allows investors to make money while focusing on other priorities.

 

4.  Inflation proof: Inflation reduces the value of savings over time, but buying land in Nigeria helps preserve and grow your wealth. Land ownership allows you to align its value with market trends, potentially earning more than the initial purchase price.

5. Low Maintenance: Compared to developed properties, land requires little or no maintenance, saving you repair and renovation costs. Any improvements are at your discretion and typically involve minimal expenses.

 

6. Lagos lands are less expensive compared to developed properties: Acquiring land in Lagos most times is less expensive compared to buying developed properties.

 

6 Top Places You  Can Get Cheap and Affordable Lands

 

1. Ibeju Lekki

 

Ibeju Lekki is currently the most sought-after area in Lagos attracting Nigerians both at home and abroad eager to own property due to its remarkable developments. This prime location is home to Africa’s second-largest deep-sea port and the continent’s biggest refinery,  the Dangote’s oil refinery.

The Lekki Free Trade Zone also offers incredible investment opportunities, with highlights like Dangote’s oil refinery processing 65,000 barrels per day and the N7.1 billion Lekki Airport nearing completion. Other notable developments include the Lakowe Golf Course, La Campagne Tropicana Resorts, the Pan-African University permanent site, and more.

Now is the perfect time to seize low-budget real estate opportunities in this thriving area, with safe and guaranteed investments ranging from ₦1 million to ₦30 million, depending on location and title. Remember, you don’t wait to buy real estate—you buy and wait!

The prices of land for sale in Ibeju Lekki range from 1 million to 30 million Naira depending on the location. 

 

2. Epe

Buying land in Epe is definitely a good investment for great reasons. 

 Epe, located in Lagos, Nigeria, boasts excellent road connections to Ijebu-Ode and Ikorodu. It is also home to several notable higher institutions, including Lagos State University (LASU), Yaba College of Technology, Michael Otedola College of Primary Education (MOCOPED), and Pan-Atlantic University (PAU), all of which have campuses in the area.

The government has undertaken significant development projects in Epe, with even more progress currently underway. A visit to this area reveals the scale of transformation taking place.

Land in Epe is available at varying price points, ranging from ₦400,000 to ₦8,000,000, offering diverse investment opportunities. 

 

Check out this affordable land property in Epe with an easy payment plan. 

 

Read Also: https://www.thinkmint.ng/buyrealestate/why-epe-lagos-is-your-real-estate-destination-in-2024/

 

3. Ikorodu 

Ikorodu is currently among where you can get the cheapest land.  The area offers incredibly affordable land prices, and development is advancing at a rapid pace, attracting new residents every day. 

Even now,  massive development is set to take place in Ikorodu with the proposed 4th Mainland Bridge set to pass through it. So there is no better time to invest in landed property than now! 

You can purchase a plot of land in Ikorodu for as little as ₦500,000 to ₦1,000,000 in areas such as Ishawo, Ijede, Ogijo, Igbogbo, Imota, Imowonla, Igbolomu, and Igberigbe. 

 

4. Agbado

 

Agbado is a prime location for land investment in Lagos. The area is experiencing rapid development, with numerous construction projects underway, including roads, estates, and critical infrastructure like electricity. Its fast-paced growth makes Agbado a highly strategic choice for prospective buyers.

For as little as ₦900,000, you can secure a plot of land in this thriving area. Key locations still available for purchase include Oluwo, Abule Ekun, Akera, Ishaga, Ijaiye, Adiyan Ibaragun, Abule Ekun Olambe, and Oremerin. Don’t miss the opportunity to invest in Agbado and be part of its growth story!

 

5. Amukoko

Amukoko, located in Ajeromi-Ifelodun Local Government Area, is another excellent spot to find affordable land in Lagos State, ranking just after Ikorodu for budget-friendly options. A visit to the area will confirm that there are still plots available, waiting for smart buyers.

You can secure land in Amukoko at incredibly reasonable prices, ranging from ₦750,000 to ₦1,300,000. Prime locations include Ojo Road, Imam, Oja, Alaba, Tejumola, and Turner. Don’t miss this opportunity to own property in a developing and strategically positioned area!

 

6. Sangotedo 

Nestled between Iranla and Ogombo to the south, Sangotedo is a rapidly growing area just 20 minutes from Lekki and approximately 35 kilometers from Ikeja. The influx of new residents has made short-term apartment rentals highly profitable in Sangotedo and nearby Ajah, attracting both investors and business owners who are relocating their operations to this vibrant location.

Sangotedo, located after Ajah,  with a notable landmark like the Lagos Business School, has experienced remarkable commercial growth in recent years. It has become one of the best spots on Lagos Island to buy land for investment.

 The area is already home to numerous estates and residential properties, with more developments likely to emerge in the near future, offering immense potential for smart investors.

 

So there you have it, 6 places in Lagos you can consider if you are looking for affordable properties. Always do your research if you come across deals that are too good to be true.  That way, you will avoid falling victim to land scams.  

 

Seek out reliable real estate companies to help you out in this process. At Thinkmint Nigeria, we offer the best deals on landed and off-plan property in several locations across Lagos and Nigeria.  We also offer easy and flexible installment payment plans for every property. 

 

 Be sure to check them out here  

 

How to Navigate Lagos Real Estate Market as a First Time Buyer