Investing 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 at recognizing factors that make a neighborhood highly rewarding to invest in.
According to the Senior Sales Executive at Ramos Real Estate, Babakayode Alex Lateef-Ibrahim, and his Business Manager, Mrs. Joshua Odimma, investors should be able to identify the right location, highlighting some of the neighborhoods in Lagos with a 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 criteria for identifying a rewarding neighborhood to invest in, including development potential, location, and security, among others. They mentioned neighborhoods such as Epe, Lekki, Ibeju Lekki, Ikoyi, Victoria Island, Ajah, Ogudu, Gbagada, and Surulere as examples.
Considering development potential, they argued that investment would flow into neighborhoods with growth potential, such as areas undergoing urban renewal and planned infrastructure developments, which can lead to increased property and rental values.
Regarding location, they emphasised that neighborhoods with close proximity to essential amenities and major employment centres are excellent places to invest in.
“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,” they added.
They also highlighted other important factors to consider, including educational and healthcare facilities, regulatory laws, market demands, and trends.
Some of the rewarding neighborhoods in Lagos to invest in include:
“Epe: Epe is currently the hot cake of real estate investment in Lagos due to its infrastructural developments and investment opportunities. Some ongoing projects include the Dangote Refinery.
“Lekki: Lekki has long been recognized as one of the most sought-after neighborhoods in Lagos for real estate investment due to its strategic location and upscale amenities.
“Ibeju-Lekki: Situated along the Lekki-Epe Expressway, Ibeju-Lekki offers immense growth potential with major projects like the Lekki-Epe International Airport and the Lagos Smart City.
“Ikoyi: Known for its opulence and exclusivity, Ikoyi remains a prime location for real estate investment in Lagos.
“Victoria Island: Victoria Island continues to attract investors seeking premium real estate opportunities with its bustling commercial districts and upscale residential areas.
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.
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“Ogudu: Ogudu is a highly sought-after neighborhood known for its tranquil ambiance and upscale residential developments.
“Gbagada: Gbagada offers a mix of middle to upper-class housing options, along with shopping malls, schools, and healthcare facilities.
“Surulere: Surulere is well-established and known for its rich cultural heritage, vibrant nightlife, and central location.
Lateef-Ibrahim and Odimma emphasized that investing in real estate in Lagos requires careful consideration of various factors, including location, development potential, and market trends.
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