Buying properties in Lagos is arguably one of the major yearnings of Lagos state residents. Even those who do not live in Lagos wants a piece of the cake. While desiring to own a land or property is one thing, taking steps to actualize that dream is another.
What to consider
A good knowledge of the Real Estate Investment sector in Lagos is absolutely essential. But there are thing to know for anyone who wants to invest in properties in Lagos especially for profit. And here are key considerations to tick on your checklist when making real estate investment:
- Title
- Location
- Purpose of Use
Location
Location has a direct correlation with appreciation of the value of properties in real estate acquisition or investment. Some premium locations an investor should consider purchasing lands and properties from include:
- ETI-OSA
- ABRAHAM ADESANYA
- SANGOTEDO
- AJAH
- IBEJU LEKKI
Why are these areas premium?
These locations make it to the top of the list because of certain characteristics they possess. So, let’s give you a rundown of the importance of owning properties in this location:
- They are growing areas: Investment should be in a growing location especially for a middle-class population. Also, buying properties in an already established area can be very expensive or out of reach.
- Basic amenities: These locations have close proximity to basic amenities for additional value. If the property has basic amenities nearby, it adds a great value to the property. As a result, amenities such as shopping complex, swimming pool, open area, gyms, parks & playgrounds is key.
- Easy access to Transport Facilities: Intending property and land buyers should consider proximity to and availability of various means of public transportation services. Various transport services like car parks, ports etc should be within considerable distance.
- Availability of Schools & Hospitals: Prior to investing, one should consider the availability of hospitals and schools in nearby environs. A property that within its axis boasts of reputable schools and premium hospitals earns a better return on investment.
- Alluring potential for business & companies: Areas that existing (or new) multi-national companies or locally owned firms are situated should be considered. And the value of such area increases because jobs are created. There is also a corresponding provision of housing for workers in the area which brings about a hike in value.
