6 best locations to buy properties in 2024

Investing in Lagos Nigeria or in any state in Nigeria is an interesting one. And we are writing this interesting article to guide you about the 6 best locations to buy properties in 2024

Introduction

Lagos, Nigeria, often referred to as the economic powerhouse of West Africa, has witnessed a significant surge in real estate development in recent years.

With a burgeoning population and a growing economy, investing in property in Lagos can be a lucrative venture.

However, not all locations in this vibrant city offer the same level of potential returns.

In this article, we explore some of the best locations to buy properties in Lagos, considering factors such as infrastructure, accessibility, security, and overall investment prospects.

1. Victoria Island: Victoria Island stands out as one of the most prestigious and sought-after areas in Lagos. Known for its upscale neighborhoods, proximity to business districts, and stunning waterfront views, Victoria Island is a prime location for luxury real estate. It boasts a thriving commercial scene, high-end shopping centers, and top-notch dining options. Despite the premium prices, properties in Victoria Island tend to appreciate well over time, making it an attractive investment for those seeking long-term capital growth.
2. Ikoyi: Adjacent to Victoria Island, Ikoyi is another affluent area that attracts high-net-worth individuals and expatriates. Known for its upscale residences, leafy streets, and exclusive clubs, Ikoyi offers a serene environment while remaining close to major business hubs. The demand for luxury properties in Ikoyi has been consistently strong, making it a wise choice for investors looking for stability and long-term value.
3. Lekki Phase 1: Lekki Phase 1 has become a hotspot for real estate development, offering a mix of residential and commercial properties. With well-planned layouts, modern amenities, and a growing community, Lekki Phase 1 is popular among both investors and homebuyers. The Lekki-Epe Expressway provides easy access to the area, further enhancing its attractiveness. The diversity of property options, from apartments to detached houses, makes Lekki Phase 1 suitable for a range of budgets and preferences.
4. Ikeja: As the capital of Lagos State, Ikeja is a bustling commercial hub with a mix of residential and business districts. The ongoing development of the Ikeja City Mall and the Ikeja Bus Terminal has enhanced the area’s appeal. Proximity to the Murtala Muhammed International Airport and major highways adds to the convenience of living or investing in Ikeja. The real estate market here offers a variety of options, including apartments, townhouses, and office spaces.
5. Ajah: Ajah, located on the Lekki-Epe Expressway, has experienced rapid urbanization and infrastructural development. The area is known for its affordability compared to some of the more upscale neighborhoods. With the Lekki Free Trade Zone and Dangote Refinery in close proximity, Ajah presents a promising investment opportunity. The expansion of road networks and the completion of infrastructure projects further contribute to the area’s growth potential.

Other Best Locations to buy properties

In addition to the best locations to buy a property, we’d also state more point of view on key locations you should be looking out for when you want to buy a property in lagos or anywhere else in Nigeria.

Haven stated the above key locations in lagos to buy real estate properties, find below key locations to look out for when you want to buy a property;

Those locations are

1. Next to a school or university – Buying a property next to a school or university is a good buy that would increase in due time. This said property can be a piece of land, landed properties or the likes. For overtime, properties in locations like this are bound to achieve a 100% return upon reselling
2. Next to a hospital – Ensure you also be on the lookout for properties close to a hospital whenever you want to buy a property.
3. Next to a location with businesses and factories that provide job opportunities for people – Properties in locations like this tend to have a much or higher appreciating value on the long run. So its a good buy for any investor
4. Next to worship centers – The nest vibrant location to be on the lookout for in 2023 are properties close to a church, mosque or any other form of worship center
5. Next to airports – Properties in locations like this are very expensive in purchase value. However its resell value is also in profits at all times. So you should also be on the lookout for properties in locations like this
6. Next to other estate – Finally, getting a property in an estate or a surrounding estate is also a good buy. For such properties would appreciate on 3 to 5 years time. However, it appreciating value is not immediatly

Conclusion

Investing in real estate in Lagos requires a careful consideration of various factors, including location, infrastructure, and market trends.

The highlighted areas—Victoria Island, Ikoyi, Lekki Phase 1, Ikeja, and Ajah—offer diverse opportunities catering to different preferences and budgets.

As always, thorough research, consultation with real estate experts, and an understanding of the local market dynamics are crucial for making informed investment decisions in Lagos, Nigeria.

With its dynamic economy and increasing urbanization, Lagos continues to be a promising destination for real estate investors seeking long-term growth and returns.