The cost to buy a land in Lagos state today is on the rise due to the appreciation of lands in the country. While there are areas where you can get cheap lands for sale in Lagos, these places aren’t as developed as other high-brow areas. Note that Oyo state ranks as the state where one can find the cheapest lands for sale in Nigeria and Ibadan which is its capital is actually one of the cheapest places to live in the country.
Are you looking for a good deal on land in Lagos? Most people who want to build a house in the city ask themselves this question. Never fear if you’re not sure where to begin in the real estate industry; you’re on the right track. The best and cheapest areas to acquire land in Lagos State are listed in this article. This knowledge, I feel, will assist you in getting started in the lucrative property flipping business in Lagos.
WHY SHOULD YOU OWN PROPERTY IN LAGOS?
Lagos State is without a doubt Nigeria’s most commercialized region. So, if you want to become a landowner in one of Lagos’ burgeoning regions, you’re on the right track. Ikorodu, Lekki, VGC, Ikoyi, Apapa, Ikotun, Orile, Ojo, Festac, and other fast-growing areas of Lagos are among the city’s developing areas.
Purchasing landed property in Lagos has the potential to return up to 5 times your initial investment. This should yield a return on investment of over 500 percent in a short period of time. Simply buy land and leave it idle for at least 6 months to allow the price to rise, then resell for up to 40% profit.
Lagos boasts Nigeria’s fastest-growing economy, with over 15 million citizens who appear to be growing by the day. Lagos is thus a center for business, rapid development, and investment. Property and land in Lagos is by far one of the most sought-after assets.
Purchasing a landed property in Lagos has numerous benefits. Using this investment method, you can quickly become financially stable.
Now that your eyes have been opened, I will reveal the cheapest spots in Lagos to buy a parcel of land. Many people in Lagos have made millions of Naira by flipping houses. Since the last millennium, the story has altered, and costs have risen dramatically. Join the moving train instead of waiting any longer.
10 CHEAPEST PLACES TO BUY LAND IN LAGOS STATE (2023)
See the list below for the best places to buy land in Lagos at a moderate cost.
Ikorodu is currently the best and most affordable area in Lagos to buy land. Land in Ikorodu is extremely inexpensive, and development is accelerating at breakneck speed, with more people moving in every day. Without a sure, Ikorodu land is the cheapest in Lagos, and the government is paying close attention to it. So it’s a good idea to get a plot or two while they’re still inexpensive.
Amukoko is the second best place in Lagos State to buy affordable land. Ajeromi Ifelodun Local Government Area is home to this location. You can go to this region to verify that there are still lands available for purchase. Ojo Road, Imam, Oja, Alaba, and Turner, all in Amukoko, have lands for sale ranging from ₦750,000 to ₦1,300,000.
Agbado is another great spot to buy land in Lagos. There are numerous ongoing construction projects in this area, as well as numerous additional developments. A plot of land can be purchased for up to ₦900,000. Oluwo, Abule Ekun, Akera, Ishaga, Ijaiye, Adiyan Ibaragun, Abule Ekun Olambe, and Oremerin are some of the places in Agbado that have not yet been sold.
Even though the Ijegun neighborhood in Lagos state is quite popular, there are still plots available. Land in a swampy location like Isheri Osun, for example, is also beneficial if you have the resources to preserve and grade it. You may also buy good lands in locations like Animosho, Fagbile, and so forth, while a block of land in Ijegun costs ₦600,000. However, because they are close to marshes and white sands, you may need to sand fill.
If you want to buy land in the Agbowo area of Lagos state, you should act quickly. Investors are flocking to Agbowa in droves, and most of the regions are practically sold out, indicating that the city is booming. In Agbowa, you can buy land in Abosioto, Abule, Aba-Onigbagbo, Ijesha, and Aba-Oriyanrin.
Are you astonished to know that Apapa is among the best spots in Lagos to buy affordable land? Do not be surprised because Apapa still has a lot of undeveloped property. Because of the area’s importance, these acres can be purchased for as little as ₦3 million. Land in Kirikiri, Ajegunle, Wema, Tincan, and Coconut is inexpensive.
We are all aware that Eti-Osa is a rapidly expanding area, and to be truthful. If we’re talking about affordable land in Lagos, Eti-Osa must be highlighted. The ground is quite fruitful, and you may build up to six stories on it. Land in Eti-Osa can be purchased for as little as 1.5 million nairas. Badore, Sangotedo Town, Unity, Obalende, and Cooperative Villa are all places where you can get these lands.
Badagry is a historical site with a variety of attractions and resorts. The pace of development in this field is really rapid. I must encourage you to use extreme caution when purchasing land in Badagry to avoid being misled. You can obtain good land around ₦1 million in the area. The majority of the land is owned by the government, so do your research before buying land there.
Next, in our list of the best places to buy cheap land, we have Ojo Alaba which is a Lagos landmark. Alaba is a well-known commercial district in Lagos state. Furthermore, the rent charged by landlords is extremely low. As a result, real estate in this neighborhood is quite affordable.
Land in Ojo Alaba can be found for a very low price in places such as Alaba, Ojo, Ira, and Ajangbadi Ikemba.
Next, in our list of the best places to buy cheap land, we have Akute. Getting a piece of land in Akute is extremely simple. You can easily become a landowner in regions like Ijoko, Ojodu Berger, Ojokoro, Ibafo, and Ijoko. They are inexpensive to purchase. As a result, enormous growth is taking place throughout Akute.
HOW TO SELL YOUR LAND IN NIGERIA EFFECTIVELY
In Nigeria, selling land is really simple. You can sell your land in Nigeria for any amount using websites like Jumia, Jiji, Propertypro, Vconnect, Facebook, etc. Here are tips if you wish to sell your land without hassle-free.
- Take quality images of your property.
- Create a thorough description of your property.
- Prepare the land documents.
- Go online and share the images of the terrain and its features.
- Negotiate with your clients.
When planning to buy land in Lagos, it is a good idea to consult with a lawyer. Based on the specifics of the property you wish to purchase, a lawyer will assist you in tracing and searching the title of the property and determining the paperwork necessary for the transaction to be valid and successful.
HOW TO STAY AWAY FROM OMO-ONILE ISSUES WHEN PURCHASING LAND IN LAGOS
The “original indigenes of Lagos” or “sons of the soil,” also known as the Omo-Onile or “land grabbers,” prey on people who buy land in Lagos. By using force, dishonesty, contract violations, and other illegal tactics, they rob individuals of their land and/or property.
Because of these acts, people are less likely to invest in land or real estate business in Lagos because they are worried that they may ultimately lose their money. To navigate your way through this hurdle, below are the most reliable free ways to purchase land in Lagos.
- Get a knowledgeable attorney or real estate agent to help you confirm land ownership before making a payment, or visit the Lagos State Ministry of Lands at Alausa.
- Every land title in Lagos State must be registered with this organization. By following this procedure, ownership can be easily confirmed.
- Pay off the land completely. Avoid partial payment as it is the quickest route to Omo-Onile.
- Register your property and protect your assets. Along with registering the land with the Lagos State Ministry of Lands, Alausa to obtain all required papers and certificates, you should fence the property right away to prevent encroachment and trespassing.
- Remit taxes, levies, and dues. It is that simple.
No matter how cheap the price may be, avoid purchasing land from an area designated for agriculture. The simplest method to have your home demolished by the government when they want to use the land is to purchase a piece of property that has been set aside for agricultural use.
Lagos State is unquestionably Nigeria’s commercial capital, with a sizable population. As a result, the city’s land and property flipping industry is forecasted to be bustling. Before you enter the business, consider the following suggestions. Because of the high level of fraud in Lagos, you must be cautious in your dealings. Please hire a lawyer and have everything documented officially. It is inexpensive. I hope we were able to assist you in finding a low-cost plot of land in Lagos State. If you believe this information will benefit others, please share it with your network.