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5 ways to determine if a property in Ibeju Lekki is going to be profitable and when

Posted by DanbelPro@InvLtd on December 12, 2020
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5 ways to determine if a property in Ibeju Lekki is going to be profitable and when

One major question investors ask when buying land in Ibeju Lekki is: Will this land appreciate in value and when is the best time to resell? If you are an investor looking to buy land in Ibeju Lekki with no aim to build, the last thing you want to do is buy a particular land and wait forever for that land to appreciate. So how can you know if the land has a high resale value? Here are a few tips to know

 

1. Are there any major landmarks around the estate? Landmarks naturally attract more people whether it be for business or tourism. When more people keep trooping into an area, the government focuses on the development of capital projects in that area. This will inadvertently drive the value of every property around that area. Estates located around Dangote Refinery, Lekki Free trade zone, Pan Atlantic University, La Campagne Tropicana, and other massive developments in Ibeju Lekki will most likely increase in value faster.

2. What are the potential developments coming to that neighborhood? Most times, the government earmarks an area to develop roads and industries due to a host of reasons including – availability of land, strategic location (Ibeju Lekki is strategically located along the shoreline which spurred the government to carve out over 10,000 acres for the Lekki Free Zone and the new Seaport) and how soon these developments are coming. Windspring Estate for example is located in front of a proposed “superhighway” that connects the Lekki free trade zone to the Benin-Sagamu expressway and set to be completed within the next 3 years. This makes Windspring Estate a very attractive location to invest.

 

3. What is the title of the land? While a land with an approved excision from the government costs more than one with an “excision in process” it is more valuable and will increase in value faster because the land does not appear on any area earmarked by the government for development. For example, most landlords have been thrown in a dilemma ever since surveyors pointed out that the proposed 4th mainland bridge will run through their buildings. However, this does not mean that all excision in process lands are risky; you just need to buy from a registered and certified real estate company. Buying land however on a government excised land like Windspring Estate puts your heart to rest.

4. How developed is the surrounding community? Lands located in an already developed and thriving community are likely to increase in value faster than one located deep in a bushy area. However, this doesn’t mean the property located in an undeveloped community will not increase in value, it will only take longer

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