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Top 10 Places Where Smart Money Flows in Lagos Real Estate in 2024, by Dennis Isong.
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Last week, my friend Chidi called me in a panic. “Bros, I just inherited ₦50 million from my extremely wealthy uncle, and my wife wants us to buy land in Banana Island!” he exclaimed.
I couldn’t help but laugh. “Chidi,” I replied, “with ₦50 million, you can’t even buy a decent-sized parking space in Banana Island.”
That’s the reality of Lagos real estate – a market where dreams meet practicality, and smart investors look beyond the obvious.
As Lagos continues its relentless expansion, new investment opportunities are emerging in previously overlooked areas.
Let’s explore the top 10 real estate investment hotspots that promise significant returns in 2024.
1. Sangotedo
Once considered the backwoods of Lekki, Sangotedo has transformed into a real estate goldmine.
With the completion of several major road networks and the presence of notable institutions like the Lagos Business School, property values here have appreciated by over 40% in the last two years.
The area offers a perfect blend of residential and commercial opportunities, with land prices still reasonable enough for medium-scale investors.
2. Ikorodu
North Don’t roll your eyes just yet! Ikorodu North, particularly around Ijede Road, is experiencing unprecedented development.
The ongoing road expansion project and the proposed Fourth Mainland Bridge access point have triggered a surge in property values.
Early investors are already reaping rewards, with some reporting up to 60% appreciation in just 18 months.
3. Epe
The quiet transformation of Epe into a major industrial hub is perhaps Lagos’s best-kept real estate secret.
With the Lekki Deep Sea Port now operational and the Dangote Refinery nearby, Epe’s real estate market is on steroids.
Focus on areas around the Lekki-Epe Expressway and the new Epe Resort Road.
4. Badagry
History is repeating itself in Badagry, but this time with property values.
The completion of the Lagos-Badagry Expressway project has opened up unprecedented opportunities. International investors are quietly acquiring large land parcels here, particularly around the Free Trade Zone area.
The planned seaport project makes this a long-term investment goldmine.
5. Abijo GRA
Situated between Ajah and Ibeju-Lekki, Abijo GRA represents the new face of luxury suburban living in Lagos.
The area benefits from excellent infrastructure and proximity to major developments along the Lekki corridor. Property values here have shown consistent appreciation, with a remarkable 35% increase in the past year alone.
6. Isheri North
This area’s transformation from a flood-prone zone to a prime real estate location is nothing short of miraculous. Improved drainage systems and the completion of several estate projects have boosted investor confidence.
The proximity to both Lagos and Ogun states makes it a unique investment opportunity.
7. Bogije
Located along the Lekki-Epe Expressway, Bogije is experiencing a real estate renaissance.
The area benefits from its strategic location between developed Ajah and the industrial hub of Ibeju-Lekki.
Land prices here are still relatively affordable, making it attractive for both individual and institutional investors.
8. Agbowa
Don’t let the distance fool you. Agbowa is emerging as Lagos’s new industrial frontier.
The state government’s focus on developing this area as an industrial hub has sparked interest from real estate investors.
Early birds here stand to gain significantly as industrial development drives residential and commercial property demand.
9. Alimosho
As Lagos’s largest local government area, Alimosho continues to offer diverse real estate opportunities. The focus areas are around Ikotun-Igando and Ayobo-Ipaja axes, where improved road networks and the proposed rail line are driving property appreciation.
The high population density ensures steady rental income for residential properties.
10. Ibeju-Lekki
Despite being an obvious choice, Ibeju-Lekki deserves its spot on this list.
The area around the Lekki Free Trade Zone continues to appreciate, driven by industrial developments and improved infrastructure. However, smart investors are now looking at secondary locations within Ibeju-Lekki, particularly areas around Eleko Junction and Akodo.Investment
As Lagos continues its march toward becoming Africa’s premier megacity, these locations offer varying degrees of opportunity for different categories of investors.
Tips:
● Due diligence is crucial. Always verify land titles and obtain necessary documentation.
● Consider infrastructure development plans when making investment decisions.
● Long-term holds typically yield better returns in Lagos real estate.
● Partner with reputable real estate professionals for guidance.
● Keep an eye on government policies and development plans.
Remember Chidi? He eventually invested in two plots in Sangotedo instead of chasing the Banana Island dream.
Six months later, a major tech company announced plans to build their campus nearby, and his property value jumped by 25%. Sometimes, the best investment opportunities aren’t in the most obvious places.
As Lagos continues its march toward becoming Africa’s premier megacity, these locations offer varying degrees of opportunity for different categories of investors.
Whether you’re looking for quick appreciation or steady long-term growth, understanding these hotspots’ unique characteristics and growth drivers is crucial for making informed investment decisions.
The key to success in Lagos real estate remains the same: buy where development is going, not where it has been. As we navigate through 2024, these areas represent the sweet spot where opportunity meets affordability, promising significant returns for discerning investors.
▪︎Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041
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Here’s When To Watch Lunar Crescent Across Nigeria on Friday, February 28, according to NASRDA
The last cities to experience the lunar crescent, he said, would be Lagos and Abeokuta between the hours of 6:59 pm to 7:30 pm.
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The National Space Research and Development Agency (NASRDA) said that Nigeria would likely witness its first astronomical lunar crescent on Friday evenings, February 28.
The Director of Media and Corporate Communications of NASRDA, Dr. Felix Ale, disclosed this in a statement, saying that the lunar crescent had been calculated to occur at 1:45 A.M. West African Time (WAT).
He said that the predicted time of 1:45 A.M time, also known as the Crescent Zero hour, would be when the crescent could be seen under perfect atmospheric conditions with the aid of optical instruments like binoculars or telescopes.
“The crescent will become visible to the naked eye in the evening of Friday, February 28, 2025, between 6:17 PM and 7:35 PM across different locations in Nigeria.
“Maiduguri will be the first city to witness the young lunar crescent from 6:17 PM to 6:48 PM, followed by Yola, Adamawa State, from 6:21 PM to 6:51 PM.
“Damaturu, Yobe, will follow from 6:22 PM to 6:53 PM, Kano, Kastina, Jos and Kaduna will experience the first lunar crescent between 6:38 pm and 7:12 pm.
“The sunset and moon set will occur between 6:35 pm and 7:12 pm, 6:38 pm and 7:15 pm, 6:35 pm and 7:11 pm, 6:40 pm and 7:17 pm respectively.
“Enugu will experience the lunar crescent between 6:42 pm and 7:32 pm with sunset and moonset at about 6:42 pm and 7:18 pm,’’ he said.
He predicted that in the FCT, the first lunar crescent would appear between 6:44 pm and 7:15 pm, with sunset and moonset at about 6:44 pm and 7:20 pm.
The last cities to experience the lunar crescent, he said, would be Lagos and Abeokuta between the hours of 6:59 pm to 7:30 pm.
Ale said that other cities across the federation will experience the lunar crescent at different times within the estimated visibility window of 6:17 pm and 7:35 pm on the same day.
He said “For a clear sighting of the first lunar crescent, observers are to use optical aids where necessary, and observe under clear atmospheric conditions.
“Observers are to position themselves in locations with an unobstructed view of the western horizon after sunset.
“He added that the scientific report provided precise predictions on the lunar crescent across locations of the country.
According to him, the report ensured accuracy for those who relied on lunar observations for religious, cultural, and scientific purposes.
The space agency encouraged researchers, scholars, and religious groups to utilise the findings, adding that anyone requiring additional data for further analyses could visit the official office website.
Director, the Centre for Basic Space Science and Astronomy (CBSSA), an activity centre of NASRDA, Dr Bonaventure Okere, said it was regarded as the first stage of the moon, hence the new crescent.
Okere said the appearance of the new crescent was highly significant in the Islamic religion because it was used to determine some rites and practices like the beginning of the Ramadan fast.
“The Islamic religion uses moon phases for their Islamic rites but astronomers study the cycle of the rising and setting of the moon to determine moon days, which is usually 28 days.
“Astronomers use the moon cycle to generate the Lunar calendar, understand the part of the moon you can see daily,’’ he said.
News
Kogi State Mourns Loss of Media Icon Prof. Tom Adaba
Prof. Adaba, who passed away at the age of 83, was celebrated for his trailblazing contributions to Nigeria’s media landscape.
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The Kogi State Government has expressed a huge sense of loss following the demise of Prof. Tom Adaba, a pioneering broadcast expert, patriot, and distinguished son of Kogi.
Prof. Adaba, who passed away at the age of 83, was celebrated for his trailblazing contributions to Nigeria’s media landscape.
Prof. Adaba’s legacy is marked by groundbreaking achievements.
He was one of the first Nigerians to earn a Doctorate in Mass Communication, setting a high standard for academic excellence in the field.
His visionary leadership was evident during his tenure as the Principal of the Nigerian Television College, Jos, and as the inaugural Director General of the National Broadcasting Commission.
His work not only transformed the media industry but also laid a strong foundation for ethical journalism and responsible broadcasting across the nation.
In an official condolence message signed by the State Information Commissioner, Mr Kingsley Fanwo, the Kogi State Government described Prof. Adaba as “a media colossus, patriot, and a distinguished Nigerian” whose wisdom and dedication left an indelible mark on the country.
The government extended heartfelt condolences to his family, friends, and the entire media community, urging that his legacy be remembered as a beacon of inspiration.
The statement reads: “We have lost a great media pioneer whose life-long contributions to Nigeria’s broadcasting industry will forever be cherished. May the Almighty God grant him eternal rest and give his loved ones the strength to bear this irreparable loss.”
Prof. Adaba’s passing is not only a significant loss to Kogi State but also to Nigeria as a whole.
His illustrious career and unwavering patriotism will continue to inspire future generations in the realms of media and beyond.
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BREAKING: Police Have Sealed Our Hqrs – Osun Electoral Commission Boss Raises Alarm
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The Chairman of the Osun State Independent Electoral Commission (OSSIEC), Hashim Abioye, has raised alarm over the sealing of the commission’s headquarters by the police.
The incident on Saturday occurred as the commission proceeded with the controversial local government elections taking place across the state.
Speaking during a live current affairs program on Rave FM, Abioye said he is surprised that such a step could be taken.
He said, “I leave the police IGP in the hands of God.
“Election has started earnestly in all the polling units across the state but no police presence is noticeable from the information available to me.”
Meanwhile, Governor Ademola Adeleke participated in the exercise, casting his vote at a polling station in Ede.
After voting, the governor called on residents to remain calm and peaceful throughout the exercise.
The sealing of the OSSIEC headquarters comes after the Nigeria Police had earlier advised the Osun State Government not to proceed with the election.
Citing security risks and potential legal implications, the police had warned that holding the poll under the current circumstances could lead to unrest.
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