Investment in real estate remains one of the most lucrative businesses not only in Nigeria but across the world.
However, experts at Ramos Real Estate are of the opinion that an investor must be adept in recognising factors that makes a neighborhood highly rewarding to invest in.
According to the Senior Sales Executive, Ramos Real Estate, Babakayode Alex Lateef-Ibrahim and his Business Manager, Mrs Joshua Odimma, investors should be able to identify the right location, reeling out some of the neighbourhoods in Lagos with high yield of return on investment.
“These neighborhoods on the Island or mainland in Lagos offer a diverse range of investment opportunities, from residential properties to commercial spaces,’ the duo said.
They pointed out some checkers/pointers of a rewarding neighbourhood to invest in:
Some of the pointers,they said included development potential, location and security, among others explaining the location such as Epe, Lekki, IbejuLekki, Ikoyi, Victoria Island, Ajah, Ogudu, Gbagada and Surulere.
They explained that, considering development potential, investment will go to neighbourhoods with growth potentials such as areas undergoing growth potential, urban renewal, planned infrastructure which can lead to increased property and rental values.
On location, they argued that neighborhood that has close proximity to essential amenities and major employment centers are also a very good places to invest in.
“Security: Safety is paramount when considering real estate investment. Evaluate the crime rates, security measures, and overall safety of the neighborhood to ensure the well-being of residents and the protection of property values.
“Other very important factors to consider include educational and healthcare facilities, regulatory laws in the environment including zoning laws, building codes, and land-use policies; market demands, trends etc,” the duo said.
Some of the rewarding neighbourhoods in Lagos to invest in included:
Epe: Epe is currently the hot cake of real estate investment in Lagos and the reasons are not far-fetched. Epe is the biggest hub in terms of infrastructural developments and investment, Epe in any capacity is an asset worth having. Some of the current projects being executed includes Dangote Refinery.
Lekki: Lekki has long been recognised as one of the most sought-after neighborhoods in Lagos for real estate investment. Its strategic location, upscale amenities, and proximity to major employment centers make it an ideal choice for investors. Additionally, ongoing infrastructural developments such as the Lekki Free Trade Zone and the proposed Lekki Deep Sea Port further enhance its investment potential.
Ibeju-Lekki: Situated along the Lekki-Epe Expressway, Ibeju-Lekki is another neighborhood garnering attention from investors. With the presence of major projects like the Lekki-Epe International Airport, the Lagos Smart City, and the Dangote Refinery, Ibeju-Lekki offers immense growth potential and opportunities for high returns on investment.”
Ikoyi: Known for its opulence and exclusivity, Ikoyi remains a prime location for real estate investment in Lagos. Its affluent residents, luxurious properties, and proximity to commercial hubs make it a favorite among discerning investors. While property prices may be higher in Ikoyi, the potential for long-term appreciation and rental income outweighs the initial investment.
Victoria Island: As one of the most vibrant and cosmopolitan neighbourhoods in Lagos, Victoria Island continues to attract investors seeking premium real estate opportunities. With its bustling commercial districts, upscale residential areas, and iconic landmarks, Victoria Island offers a diverse range of investment options, from commercial properties to luxury apartments and waterfront developments.”
They explained that Ajah has emerged as a burgeoning real estate destination in Lagos due to its affordability and proximity to key locations like Lekki and Victoria Island.
“With ongoing infrastructural projects like the Lekki-Epe Expressway expansion and the proposed Fourth Mainland Bridge, Ajah presents promising investment prospects for both residential and commercial properties.
Ogudu: There are beautiful neighbourhood on Lagos Mainland too such as Ogudu. Ogudu is a highly sought-after neighborhood located on the mainland in Lagos, known for its tranquil ambiance, strategic location, and upscale residential developments.
Gbagada: Gbagada is a rapidly developing residential and commercial neighborhood located on the mainland. It offers a mix of middle to upper-class housing options, along with shopping malls, schools, and healthcare facilities. With its proximity to major highways and business districts, Gbagada has become a popular choice for real estate investors seeking affordable yet upscale properties.
Surulere: Surulere is a well-established neighbourhood known for its rich cultural heritage, vibrant nightlife, and proximity to major landmarks like the National Stadium and the University of Lagos. It boasts a mix of residential and commercial properties, ranging from traditional family homes to modern apartment complexes. Surulere’s central location and strong community appeal make it an attractive choice for real estate investment,” the duo said.
Lateef- Ibrahim and Odimma pointed out that investing in real estate in Lagos would require careful consideration of various factors, including location, development potential, and market trends.
“These neighbourhoods on the Island or mainland in Lagos offer a diverse range of investment opportunities, from residential properties to commercial spaces,” they said.
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