The property market in Nigeria is one of the fastest growing in Africa and with many mega projects already underway across the length and breadth of Lagos which is the commercial capital of Nigeria, the real estate market will experience further growth.
Nigeria’s housing deficit currently stands at over 17 million units according to World Bank estimates of 2018, which means that millions of Nigerians are still without a roof over their heads and with a population projected to hit over 400 million by 2050 according to www.statista.com. It means that millions more will be homeless except there is a massive ramp up of housing construction across Nigeria.
All the above highlighted figures, points to the fact that now is the best time to invest in your own property, as the rapid population growth being projected will lead to a sharp rise in the demand of housing units, which will potentially drive up the cost of housing across many urban areas Like Lagos, Kano, Kaduna and Abuja etc.
Lagos for example, is experiencing the construction of many landmark projects that is set to boost its economy and reposition it as a major commercial hub in the global markets. The Dangote Refinery and Fertilizer plant, which is currently the largest single train refinery in the world, is set to reduce Nigeria’s dependency on imported refined petrol.
It will also attract a lot of companies who will seek to relocate their operations to Ibeju Lekki where the refinery is sited in other to be closer to the petroleum related raw material that will be produced at the Dangote Refinery. This will also lead to a sharp rise in the demand for housing units along the Ibeju Lekki corridor of Lagos state, thus making it wiser for anyone who intends to be a Landlord in one of Africa’s hottest property market to move quickly to buy Lands there now.
Lands purchased in Ibeju Lekki today will appreciate by at least 70-100% within the next 5-7 years when many key projects currently being constructed become fully operational.
Projects like the Lekki Deep Seaport, The Lekki Free Trade Zone which is steadily attracting investors from across the world and New Lekki Airport, are all gigantic projects that will lead to a massive influx of people into Ibeju Lekki.
All the points above are the reasons why we believe that, this is the best time to own a property of your own around the Ibeju Lekki axis of Lagos. The Returns On Investment (ROI) is enormous and one you’ll not want to miss.
Finally, we at Topland Realties Limited are Real Estate consultants with many years in the property business. We have facilitated countless amounts of property deals spanning the Length and breadth of Nigeria. We currently have fully built houses and lands for sale in Ibeju Lekki and we’ll love to take you on an inspection tour of these properties in order to see the ones that suits your budget and matches your expectation. Call or Whatsapp- +234 811 443 1525 today to speak with our sales rep.