Lagos, Nigeria’s commercial capital, is known for its bustling city life and fast-paced lifestyle. However, it is also home to some of the most sought-after lands in the country. Various areas within Lagos offer promising prospects for those seeking to purchase land without breaking the bank.
Whether you’re a resident or an investor from abroad, here’s a breakdown of some best key locations where you can buy cheap land in Lagos and also how to make instalment payments if you can’t pay at once. Before you buy land, here are the things you need to know or consider.
Contents
1. Ibeju Lekki
This area is located on the outskirts of Lagos and is known for its serene and peaceful environment. It is a popular choice for those looking to buy land for residential or commercial purposes. The area is home to several luxury gated communities and is also a hub for industrial and commercial activities.
This area boasts significant developments, including Africa’s 2nd Largest Deep-Sea Port, the continent’s largest refinery owned by Dangote, and various investment opportunities within the Lekki Free Trade Zone. Additionally, notable landmarks such as the Lakowe Golf Course and La Campagne Tropicana Resorts add to its allure.
With land prices ranging from N1 million to N30 million depending on location and title, Ibeju Lekki presents lucrative opportunities for budget-conscious investors. For those interested in getting affordable lands in perfect locations within Ibeju Lekki, click here to speak with one of our agents.
2. Epe
With its strategic road connections and proximity to notable higher institutions such as Lagos State University and Yaba College of Technology, Epe emerges as a promising area for real estate investment.
Ongoing government-led development projects further enhance its appeal, making it an attractive option for prospective landowners. Land prices in Epe typically range from N400,000 to N8,000,000, offering a wide range of options to suit varying budgets. These are more reasons you should buy land in Epe. For those interested in getting affordable lands in perfect locations within Epe, click here to see land for sale in Epe.
3. Ikorodu
It is considered one of the hottest areas in Lagos for affordable land, Ikorodu is experiencing rapid development and population growth. With the imminent construction of the 4th mainland bridge passing through it, the attention from both government and investors continues to drive up demand.
Lands in Ikorodu are remarkably inexpensive, with prices ranging from ₦500,000 to ₦1,000,000 in areas like Ishawo, Ogijo, and Igbogbo.
4. Festac
This area is located in the Amuwo-Odofin Local Government Area and is known for its affordable properties and easy access to transportation. It is a popular choice for those looking to buy land for residential or commercial purposes. Land prices range from ₦6 million to ₦50 million. See Land for Sale in Festac.
Related>>>
- Requirements To Get Lagos Building Permits (Approval)
- Land Documents and Titles In Nigeria You Need To Know
- Landlord And Tenant Law In Nigeria: Understanding Your Rights
- Why Land Banking Could Be Your Next Investment Powerhouse
- Best Real Estate Websites To Sell Property Online In Nigeria
5. Agbado
It is characterized by ongoing construction projects and infrastructure developments, Agbado emerges as a promising location for real estate investment in Lagos. With land prices averaging around ₦900,000, areas like Abule Ekun and Ishaga offer viable options for those looking to purchase affordable land.
6. Ijegun
Despite its popularity, Ijegun still offers opportunities for acquiring cheap land. With prices averaging ₦600,000 per plot in areas like Animosho and Fagbile, prospective buyers can capitalize on the area’s potential for growth and development.
7. Akute
Boasting reasonable land prices and ongoing development initiatives, Akute presents an attractive option for land acquisition in Lagos. With areas like Ijoko and Ojodu Berger offering affordable land options, investors can take advantage of the area’s growth trajectory.
8. Agbowa
As development continues to unfold rapidly, Agbowa offers promising prospects for real estate investment. Areas like Abosioto and Aba-Onigbagbo provide opportunities for acquiring land at competitive prices, making it an appealing choice for budget-conscious buyers.
9. Apapa
Despite its reputation as a high-value area, Apapa still offers pockets of affordable land for discerning buyers. With prices starting from ₦3 million in areas like Kirikiri and Ajegunle, investors can explore opportunities in this vibrant part of Lagos.
10. Eti-Osa
It is known for its fast-paced development, Eti-Osa presents opportunities for acquiring cheap land. With prices as low as ₦1.5 million in areas like Badore and Sangotedo Town, investors can capitalize on the area’s growth potential and fertile land.
11. Badagry
It is rich in history and leisure offerings, Badagry offers cheap land options for prospective buyers. With prices starting from ₦1 million, investors can see opportunities in this rapidly developing area while exercising caution due to the presence of government-owned properties.
12. Amukoko
It is located in the Ajeromi Ifelodun Local Government Area, Amukoko offers affordable land options for prospective buyers. With prices ranging from ₦750,000 to ₦3,000,000 in areas like Ojo Road and Alaba, this area presents opportunities for budget-conscious investors to secure valuable properties.
13. Ijeteodo Town
This area is located in Iba Local Council Development Area and is known for its affordable properties and easy access to transportation. It is a popular choice for those looking to buy land for residential or commercial purposes.
14. Iyana School
This area is located in the Iba Local Council Development Area and is known for its serene and peaceful environment. It is a popular choice for those looking to buy land for residential or commercial purposes. The area is home to several luxury gated communities and is also a hub for industrial and commercial activities.
15. Ojo Alaba
Concluding our list is Ojo Alaba, a bustling area known for its commercial activities. With land prices remaining surprisingly low, investors can seize opportunities in areas like Alaba and Ira, making it an attractive option for budget-conscious buyers.
When venturing into real estate investment in Lagos, it’s essential to take precautions to mitigate risks associated with fraud and legal disputes. Seeking the assistance of legal practitioners and ensuring all transactions are properly documented can provide peace of mind and safeguard your investment in this dynamic market.
Before you invest in any property in Lagos, it’s important to perform thorough due diligence. At Nzepro, we have a team of experienced professionals who can help you uncover any potential issues with a piece of land before you buy.
Here’s how we can help:
- Title verification: We’ll ensure the seller has the legal right to sell the land and that there are no hidden claims or encumbrances.
- Physical inspection: Our experts will conduct a comprehensive inspection of the land to identify any physical problems or potential risks.
- Valuation assessment: We’ll help you determine the fair market value of the land so you don’t overpay.
- Negotiation assistance: We can guide you through the negotiation process to ensure you get the best possible deal.
Don’t leave your land purchase to chance. Contact Nzepro today for a free consultation!
Leave a Reply