Why you should buy land in Lagos even if you do not want to live in Lagos
“THIS LAND IS NOT FOR SALE”
A common inscription seen on houses all over Nigeria.
They draw attention to the growing demand for land in Africa, as well as the chaotic or unstable land governance structures that continue to jeopardize security and economic development.
In most of Africa, including Nigeria, land remains the most important yet least protected commodity. According to the World Bank, 90 percent of Africa’s land is undocumented.
The lack of land rights documentation – and the fraudulent documentation that often accompanies dysfunctional land systems – means people sometimes buy land from someone who doesn’t own it. Often there is no up-to-date or open government land registry leaving an interested buyer with no way to check that they are negotiating to buy a property with the people who actually own it. So, people who own land are sometimes confronted by investors who pay good money to buy their land from someone with no ownership rights.
When most young people in Nigeria are asked if buying land as an investment is worthwhile, they will tell you it is not. When they were young, they witnessed their relatives fighting and killing each other over land. They lost their land inheritance to land grabbers because they did not want to risk their lives by fighting back. The majority of them just have enough money to buy land but not to start building. However, if you buy land in most parts of the country and don’t start building on it right away, land grabbers will resell it, leaving you embroiled in endless court proceedings when you’re ready to build.
It’s not all doom and gloom, though; you can buy cheap land without fear. Simple: Buy land in Lagos from a reputable real estate company. Unlike the rest of Nigeria, Lagos has a thriving real estate industry, dominated by property development companies that buy acres of land, negotiate directly with the community, and battle off land grabbers.
Is Lagos not overcrowded? You might inquire.
Whatever we want or believe, Lagos will continue to be Nigeria’s economic capital for at least another 100 years. Because of Lagos’s strategic location, this is the case.
Nigeria has six ports including Apapa, Lagos; Tin-Can Island, Lagos; Rivers, River State; Onne, River State; Calabar, Cross Rivers, and Delta in Delta State. Though over 50% of the available seaports are located in the South West and South East, which is closer to the North, importers still choose to import through the seaports located in Lagos for several reasons.
One reason is the shallow draught of the water channels leading to some of the ports in the East, which limit bigger oceangoing vessels with higher capacity from berthing in those ports.
Additionally, the rising security threats along the water channels leading to the Eastern ports as well as widening infrastructural gap are the major reasons why Eastern ports remain starved of business activities.
With the Ibeju Lekki seaport directly opposite Lekki Free Trade Zone which is closer to Ogun State and Ondo State and already under construction, trade in Lagos is not about to slow down. Buy land in the fastest-growing urban area in Nigeria, Ibeju Lekki before the price shoots up. You can either buy land on Windspring Estate where you need just N1,000,000 to start the process to becoming the owner of a government excised land (Read more about land titles and what they mean HERE) or you can buy Avalanche Park Estate which is a few minutes away from La Campagne Tropicana with an initial deposit of N200,000.
You don’t have to travel down to Lagos to inspect the land as we have clients from all over the nation who have never been to Lagos. Our team will furnish you with every detail about the land and will send your documents to you once you have made payment.
If you want to buy land but don’t know how to go about it, schedule a free consultation with one of our experts.