When you look into “Affordable Residential Land in Epe & Ibeju-Lekki, Lagos,” this piece reveals the special features and hidden gems that make this growing market a great place to invest.
Epe for example is a Yoruba town located in the northern part of the Lekki Lagoon area in Lagos State, Nigeria. Aside from being a town, it is also a local government area with 250+ rural areas and 20+ semi-urban areas. For the people of Epe, fishing is their major occupation, alongside farming.
Currently, Ibeju-Lekki is one of the most affordable and fast-developing cities in Lagos. If you’re the type that travels a lot in the western part of Nigeria, then Epe is a good location to easily move within Lagos and other western states in Nigeria.
Epe is located 77km from the buzzing Lagos city. Initially, Epe wasn’t part of Lagos until it was incorporated in 1892 after the defeat of Ijebu Kingdom by the colonial masters. The British later added it to the Lagos colony soon after.
The demand for residential land in the area
Aside from the easy life, serene nature and welcoming people of Epe town, Epe has grown in popularity over the years because of the mega projects ongoing in the region. Its proximity to the Lekki Free Trade Zone, the Dangote oil refinery and other big projects ongoing in the region have attracted businesses, investors and workers.
Not to mention that the area is easily affordable to live in because of the availability of lands for farming, agriculture, and cultivation.
The real estate market in Epe
Real estate brokers and landowners in Epe currently boast of a 50% to 150% annual increase in land value. Usually, land appreciates everywhere, except for rare scenes of natural disasters or man-made disasters.
One of the megaprojects that kicked off the fast development of Epe town is the Dangote refinery that is ongoing in the region. Soon after that, other initiatives like the Epe resort and spa, the new seaport and airport, and other infrastructure improvements carried out by the Lagos state government appeared.
This development has attracted lots of real estate brokers and investors to buy land in mass for the main purpose of building luxury residential estates. An average real estate company in Lagos has one or two projects ongoing in the town.
Currently, the value of lands and properties is increasing at an insanely fast pace, which makes the area a good place to invest in lands, properties and even business buildings because, in a few years, the town is going to become one of the most luxurious residential environments in Lagos.
Affordable residential land: Key considerations
A land is termed affordable if people with average income or lower income can readily afford the land and also make a good return on investment on it in a couple of years. Aside from being able to afford the land, having the resources to easily build a structure on the land also contributes to its affordability.
Though there is currently affordable residential land in Epe, Lagos, that will most likely remain the same in a few decades because development is currently ongoing in the region. The best time to invest in Epe is now, when it is still affordable.
Benefits of investing in residential lands in Epe, Lagos
Lands are still relatively cheap compared to other parts of Lagos. You can easily buy three hundred square meters of land anywhere between a million naira and five million naira. Compared to other towns in Lagos, where the same quantity and quality of land range from ten million naira upward,.
Currently, Epe is one of the most affordable areas of the island of Lagos. Should you decide to build a structure on the land, labor is easily affordable, and it’s proximity to the Lekki Lagoon means water and other resources aren’t far away. So from buying the land to building a property on it, you won’t spend as much compared to other cities like Ajah and Lekki, and your return on investment is guaranteed because of how fast development is coming to the region.
Affordable residential land in Epe, Lagos
There are many residential estates currently in development in Epe, Lagos. So depending on whether you want to buy land to build your own home or you want to buy land for investment purposes, below is a list of some of the most affordable residential lands in Epe, Lagos:
Ivory Hill Estate
One of the estates that Varosi Properties is responsible for managing is Ivory Hill Estate. The estate is situated in a strategic location in Epe. Ivory Hill is currently in development, and you can also do a virtual inspection of where it is located and how it’ll look once development is complete.
The estate currently sells for 2 million naira for 300 square meters, 3.2 million naira for 500 square meters, and 4 million naira for 600 square meters. You can never go wrong if you invest in this property.
You can check out Varosi Properties on Instagram or learn more about Ivory Hill Estate here.
Odogwu Residential Estate
The strategic location of this estate makes it very unique. Its roads are linked to Michael Otedola College of Education, Lagos State General Hospital, Lagos Food Security Hub, Alaro Satellite City, Atlantic Hall School, Lagos State Emergency Hall Center, and the proposed Ighalo Football Academy.
From the landmarks mentioned above, you can really tell the return on investment for just a piece of land will be worth it. Though the property is currently sold out, more land is being worked on and will resume sale soon.
Learn more about Odogwu residential here
