“Which is the leading real estate agent in Lagos, Nigeria?” Will likely be one of the questions you’ll ask as a new real estate investor in Lagos, Nigeria. We’ll do our due diligence to answer that. The real estate industry in Lagos, Nigeria, has been developing rapidly over the past decades. From lands selling at three million in averagely developed communities to now selling at almost ten to twenty million Naira! Lagos, Nigeria, is the business hub of Nigeria and is always referred to as “no man’s land.”
Lagos, aside from being the most developed state in Nigeria, is also the richest and most populated state. The major seaports in Nigeria operate in Lagos, so we can also consider Lagos the major trade center of Nigeria. The more trade flourishes in a location, the more people are drawn there, and definitely there will be demand for housing and accommodations.
In a city where there is a high volume of transactions per day and a rapidly increasing population, there will surely also be people looking to scam others to earn a living. Real estate is one of the easiest niches to get scammed in if you don’t do your due diligence, especially as an investor. In this article, we’ll take a look at the best real estate agent in Lagos Nigeria and also how you can find one yourself.
Current trend in Lagos real estate market
Before we mention the top real estate agent in Lagos Nigeria, let’s first take a look at the current real estate trend in Lagos. As a real estate investor, one of the thing to pay attention to when looking to invest in the real estate of a city is to check the current trend in that city. What are people interested in? What do people want? Where is the trade of that city likely to shift to? What do most people living in the city do for a living?
For a state like Lagos, we have the well developed areas like Ikoyi, Mary Land, Lekki, and Victoria Island. We also have rapidly developing areas like Ogba, Ikeja, Ogudu, Magodo, Gbagada, Yaba and Ajah. In as much this places look developed, there are still major infrastructure that are needed but overpriced because they are not readily available and there are no competition.
As investors are looking to invest in residential properties, they are also investing in business and relaxation infrastructures like hubs, working space, halls, parks, hotels, restaurants and fast food chain. Taking all these into consideration, below are the latest trends of Lagos real estate market.
Need for Co-working space and hub
Covid-19 has had a great impact on how people work, live, and do business, which has indirectly affected the real estate industry and demand for certain infrastructure like a co-working space and hubs. Covid-19 brought the wave of remote work which some businesses and individuals continue to adapt to because it requires less resources compared to the normal 9 to 5.
Individuals working in the space of finance, tech, law, and health have now seen that they don’t need to by physically present to work. Professions like Software Engineering, Data Analysis, UI/UX design, Law, Nutrition dietician etc don’t really need to be physically present to deliver at work. Even companies this days have seen that remote work makes them spend less.
The rise in remote work and freelancing has raised the demand for co-working spaces and hubs considering that most people wants to stay away from family and home to be productive.
The demand for co-working space and hub is present in almost all location in Lagos. From mainland to island, you can’t go wrong investing in these kinds of infrastructure.
Walk-in virtual office
Just like the demand for co-working space and hubs is on the rise because companies started adopting the remote work culture, we sure should expect a rise in demand for virtual offices.
The cost of renting or developing a physical business building is very expensive in Lagos not to mention the cost of maintenance. With the realization that the remote working culture is also efficient, some organizations, businesses, companies, and startups have now fully adopted the remote work culture.
Most of them prefer to have a walk in virtual office address rather than their own physical building or location. They meet at a co-working space when they need to have a group meeting but every other day, everyone works from home.
This strategy takes the expense of providing a working area to their workers from the business and place it on their workers who will either work from home or get themselves a co-working space or virtual hub. If you’ve been looking to invest in walk-in virtual office, this is the best time.
Luxury Developments
Lagos, Nigeria is said to have the highest number of hotels and recreational center. There has been a rapid rise in the demand for luxury recreational centers and hotels in the last decade. In 2018 one of the most luxurious but yet affordable beach was opened. The Landmark beach located in Victoria Island set the standard in 2018 when it was officially launched. After that launch, multiple luxury close beaches has sprung up. Either newly created or refurbished to meet the new standard.
The more parks and luxury beaches are created, the more there will be need for rentals like airbnb, hotels, and short lets. If you can’t afford to create a park or a beach, you can invest in creating airbnbs or something of that sort in busy locations.
Emerging Neighborhoods
The rapidly increasing population in Lagos has increased the demand for residential buildings. The Lagos state government also have the pressure of urbanizing new areas to accomodate more developments in both business, trade, and infrastructure.
The Lagos state government started by urbanizing more parts of Lekki, Ajah and now Epe. More real estates investors have placed their gaze at the Epe residential settlements. As of now, you can still get a land for as low as three million Naira which is promised to increase in over 200% in just a year.
That said, how do you get started with investing in real estate in Lagos, Nigeria. At least you’ll need to get a land first be it you want to invest in residential buildings, airbnb, recreational centers, or business infrastructure. So which is the top real estate agent in Lagos, Nigeria?
Varosi Properties: Leading real estate agent in Lagos Nigeria
Varosi properties is an accredited real estate company with multiple realtors, and real estate agents working through them. Varosi Properties is the leading real estate agent in Lagos, Nigeria because they not only operate as a company but also as an agent. Individuals working for them regard themselves as Varosi real estate agent.
You can easily reach most of their agents through LinkedIn. One of them operates as lagosrealestate.ng
Varosi Properties also have multiple residential real estates as well as lands that you may be interested in investing in. Visit Varosi Properties to learn more.
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