Where is the best area to buy properties in Lagos? Lagos is one of the top Nigerian states to invest in real estate owning to its large population, economic development, and improving infrastructure. With numerous areas to select from, finding the right places to buy property can be time-consuming. That is why we have created this article on Best Location To Buy A Properties In Lagos.
Whether you are a local or international investor or looking to buy a residential apartment, this article will share some knowledge that’ll help you about buying a property in Lagos. When you’re done reading, you will have a good understanding of the real estate scene in this city and know which locations are considered to be most favourable for acquiring landed assets.
The article will be an extensive guide to all of these locations, focusing on the reasons why they are ideal for your investment.
How To Buy A Property In Lagos
If you need to buy properties in Lagos, either as a single person or you’re married with children, there are a few things to consider. These things include if the area is safe, and accessible if it is a peaceful neighbourhood, and if it is a good place for families and for children to grow.
Married men or women who wish to send their kids to a good school or want to live in a tranquil place without any problems, can either choose to stay on Lagos Island or high-brow areas on the Mainland; these two parts are connected by the third mainland bridge.
Then, as someone who is drawn to luxury status, beauty, economic opportunities, or ocean views, Lagos Island is your best bet to buy a property. For people with office jobs and on a budget you can stay in places like Ikeja.
Best Location To Buy Properties In Lagos
1. Victoria Island
2. Banana Island
3. Eko Atlantic
7 Best Location To Buy Properties In Lagos
The best location to buy a property in Lagos both on the Island and Mainland will be mentioned in this section. Additionally, some of their factors and general standards of living will be mentioned too.
1. Victoria Island
Victoria Island is one of the most in-demand locations for buying properties in Lagos. It is the state’s commercial hub and houses numerous multinational corporations, financial institutions, and luxury hotels. Office and residential spaces are in high demand here.
In terms of security, VI is one of Lagos’ most secure areas; protected from robbery and accidents. It is filled with magnificent buildings, wide streets, exquisite restaurants, and parks and has iron-clad security systems. This place is also characterized by rapid residential developments.
VI is the financial capital of Lagos. Many banks and companies have their headquarters here, and so does the United States Consulate General. All these features make Victoria Island the best location to buy properties in Lagos.
2. Banana Island
Banana Island is an artificial island created from the foreshore of Ikoyi. The community houses over 200 residents from different parts of Nigeria and the world, who are drawn to its serenity.
This place is flocked to by wealthy Nigerians, and it has the most expensive real estate in the country. While the prices of properties will scare off investors, people who live here can attest to the level of class on the Island being worth the price.
Many buyers prioritize security when choosing places to invest in, and the place focuses on this, too. Banana Island provides peace of mind while safeguarding your property and its contents. The main entrance to the Island is protected by trained security personnel 24 hours a day. You won’t only find them at the entrance, but they constantly patrol the premises too.
3. Eko Atlantic
EKo Atlantic City is by far the best location to buy properties in Lagos. This futuristic majestic city is built on land that was reclaimed by man from the Atlantic Ocean. It boasts modern facilities and infrastructure that are on the same level as that of any other metro city in the world. Eko has been compared by some to Dubai or Miami, Florida.
Eko is a fantastic place to live if you can afford the high rent. Staying here means you’ll be close to other areas such as Oniru and Victoria Island.
The Atlantic City has been referred to as the wonder of Africa, a modern city, and one of the most outstanding engineering feats ever attempted. It spans an area of about 10km² or 2,500 acres, the size of Manhattan Island in New York City.
When it comes to wealth and class, Lekki remains undefeated in Lagos. It is the Beverly Hills of Nigeria, housing 401,272 residents. The Lekki-Ajah axis is a spectacular area to live in. People say the construction of the Dangote Refinery should put this location in the best position to receive investments from across Africa and Beyond.
The community has grown a lot in terms of expansion and development. This place provides great job opportunities, dependable government support, top-notch private schools, state-of-the-art medical facilities, shopping complexes, and recreational facilities.
Good places you can buy properties in Lekki include Ajah, Lekki Phase 1, Richmond Gate, and Victoria Garden City (VGC). Overall, this place is certainly worth your investment.
Ikeja is Lagos’ capital and is regarded as the center of business in the state because most people choose to run their business activities here. The capital is home to Computer Village, one of the largest West African hubs for ICT.
As the capital of Lagos, Ikeja houses Nigerian Government Parastatals too. It has popular areas such as Ojodu, Opebi, Allen, Ilupeju, Alausa, Akiode, Agidingbi, Magodo, and Maryland. The Ikeja GRA too is well-planned and beautiful, linking to the Murtala Mohammed International Airport and the Lagos State House of Assembly.
Ikeja is a clean and quiet residential area. Additionally, it has fantastic hangout spots like the Ikeja City Mall, cinemas, bars, Maryland Mall, restaurants, bookstores, and nightclubs. It has a lot of good schools, hospitals, and security outposts too. This area is a goldmine for landlords and property agents, which makes it an ideal place to invest in real estate.
”FESTAC” got its name from the acronym – Second World African Festival of Arts and Culture which was held there in 1977. From this place, you can get to anywhere in Lagos, even the Island.
Additionally, Festac has routes that you can use to escape Lagos traffic and gain access to places such as Ikotun, Mushin, Surulere, Ikeja, and Oshodi too. This area has some of the most fascinating facts and history about Lagos state.
It is one of the best locations to buy properties in Lagos, and among the peaceful areas to live in the state. Houses here are quite affordable too. Certain facilities available in Festac include -a constant power supply, police and fire stations, world-class supermarkets, malls (Festival Mall), restaurants, hotels, and health centers.
Yaba is an ideal place to live and start a family in Lagos; it has plenty of houses, schools, and marketplaces. It also hosts top startups like Co-Creation Hub and Andela, making it one of the most sought-after areas in the state.
This location also has some of the most prestigious academic institutions which include – The University of Lagos, Yaba College of Technology, Federal School Science and Technical College, Federal College of Education, The Nigerian Institute of Medical Research, The Queens College, and a host of other first-class private schools, nursery, primary, secondary, and tertiary institutions. Ideally, this makes Yaba good for building a residential apartment for students with cutting-edge facilities.
In addition to raising your family, you also have tons of fun places to hang out with them like Ozone cinema and E-Centre. The Tejuosho market is also situated here, it is one of the busiest markets in Lagos; an open-air market that is open 24 hours a day.