The cost of purchasing land in Lagos state is increasing as a result of the country’s land appreciation. While there are some regions in Lagos where you may buy affordable land, these areas aren’t as developed as other high-brow areas. It’s worth noting that Oyo state has the cheapest lands for sale in Nigeria, and Ibadan, the state capital, is one of the cheapest cities in the country to reside in.
Do you want to buy land in Lagos at a good price? This is a question that most people who want to build a house in the city ask themselves. If you’re unsure where to start in the real estate market, don’t worry; you’re on the correct route. This article lists the greatest and cheapest places to buy land in Lagos State. I believe that having this expertise would help you get started in the profitable property flipping business in Lagos.
What Are The Benefits Of Owning Property In Lagos?
Without a question, Lagos State is Nigeria’s most commercialized territory. So, if you want to own land in one of Lagos’ growing areas, you’ve come to the correct place. Lagos’ developing areas include Ikorodu, Lekki, VGC, Ikoyi, Apapa, Ikotun, Orile, Ojo, Festac, and other fast-growing neighborhoods.
Buying landed property in Lagos might return up to 5 times your initial investment. This should result in a 500% return on investment in a short period of time. Simply purchase land and leave it unoccupied for at least six months to allow the price to climb, then sale for up to a 40% profit.
Lagos is the fastest-growing economy in Nigeria, with a population of over 15 million people that appears to be growing by the day. As a result, Lagos is a hub for commerce, rapid development, and investment. Property and land are by far the most sought-after assets in Lagos.
There are various advantages to purchasing a landed property in Lagos. You can soon become financially stable if you use this investment approach.
10 Areas To Buy Cheap Land In Lagos State
Now that your eyes have been opened, I’ll tell you where you may get the cheapest land in Lagos. Flipping houses has made several people in Lagos millions of Naira. The story has changed considerably since the millennium, and costs have risen dramatically. Rather of waiting any longer, board the moving train.
IKORODU
Land in Ikorodu is currently the best and most inexpensive in Lagos. Ikorodu land is extremely cheap, and construction is going at a dizzying pace, with more people moving in every day. Without a doubt, Ikorodu land is the most affordable in Lagos, and the government is taking notice. So getting a plot or two while they’re still cheap is a fantastic idea.
AMUKOKO
Amukoko is the second greatest spot to acquire cheap land in Lagos State. This place is in the Ajeromi Ifelodun Local Government Area. You can visit this area to see whether any lands are still available for purchase. Lands for sale in Amukoko’s Ojo Road, Imam, Oja, Alaba, and Turner range in price from ₦750,000 to ₦1,300,000.
AGBADO
Another fantastic place to buy land in Lagos is Agbado. This neighborhood is home to a number of active building projects as well as a number of new developments. For up to $900,000, a plot of land can be acquired. Some of the properties in Agbado that have not yet been sold are Oluwo, Abule Ekun, Akera, Ishaga, Ijaiye, Adiyan Ibaragun, Abule Ekun Olambe, and Oremerin.
IJEGUN
Despite the popularity of the Ijegun area in Lagos state, there are still plots available. If you have the resources to conserve and grade land in a swampy location like Isheri Osun, for example, it can be useful. Good lands can also be purchased in places like Animosho, Fagbile, and so forth, with a block of land in Ijegun costing 600,000. You may need to sand fill because they are close to marshes and white sands.
AGBOWA
If you want to buy land in Lagos state’s Agbowo neighborhood, you must act immediately. Investors are flocking to Agbowa in droves, with most sections nearly sold out, indicating that the city is flourishing. In Agbowa, you can buy land in Abosioto, Abule, Aba-Onigbagbo, Ijesha, and Aba-Oriyanrin.
APAPA
Are you surprised to learn that Apapa is one of the top places in Lagos to buy cheap land? Apapa still has a lot of undeveloped land, so don’t be shocked. These acres can be purchased for as little as $3 million due to the area’s prominence. Kirikiri, Ajegunle, Wema, Tincan, and Coconut all have affordable land.
ETI-OSA
To be honest, we are all aware that Eti-Osa is a fast increasing neighborhood. When it comes to inexpensive land in Lagos, Eti-Osa must be mentioned. The terrain is fertile, and you can construct up to six floors on it.
It is possible to buy land in Eti-Osa for as cheap as 1.5 million nairas. These lands can be obtained at Badore, Sangotedo Town, Unity, Obalende, and Cooperative Villa.
BADAGRY
Badagry is a historic site with numerous attractions and resorts. This field is developing at a breakneck speed. To prevent being duped, I strongly advise you to exercise utmost caution when acquiring land in Badagry. In the area, good land costs around $1 million. Because the government owns the majority of the land, do your homework before purchasing property there.
ALABA OJO
The next location on our list of the greatest places to buy cheap land is Ojo Alaba, a Lagos icon. In the state of Lagos, Alaba is a well-known commercial sector. Furthermore, landlords charge exorbitantly little rent. As a result, real estate in this area is reasonably priced.
Land in Ojo Alaba can be found in localities like Alaba, Ojo, Ira, and Ajangbadi Ikemba for a very low price.
AKUTE
Akute is next on our list of the best places to buy cheap land. Obtaining a plot of property in Akute is a breeze. In areas like Ijoko, Ojodu Berger, Ojokoro, Ibafo, and Ijoko, you can easily become a landowner. The cost of purchasing them is low. As a result, Akute is seeing tremendous growth.
CONCLUSION
Lagos State, with its large population, is indisputably Nigeria’s commercial capital. As a result, the land and property flipping sector in the city is expected to be brisk. Consider the following tips before you start your business. You must be cautious in your dealings in Lagos due to the high level of fraud. Please consult a lawyer and have everything legally documented. It is reasonably priced.
I hope we were able to assist you in your search for a low-cost land plot in Lagos State. Please share this information with your network if you believe it will be useful to others.
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