5 Compelling Reasons To Invest In Real Estate In Lagos

Without any gainsaying, Lagos is dubbed as the commercial capital of Nigeria. The city has the attributes of a functional and prosperous city. For any investor, Lagos is a place to consider. Below are reasons you should invest in Lagos.

One, Lagos has a growing population that puts serious pressure on the available number of houses in the city. The population of this city is put about 21.3 million and it keeps growing by the day. The population has made the demands for housing to exceed its supply. Won’t you like to be an active player in such a market with excess demand for housing?

Two, annual rental charges are sure and reliable sources of passive income for landlords in Lagos. Statistically, the city has the second highest rental charges after Abuja. If you are a landlord in Lagos, depending on the number of houses you have, you are ahead of many people in terms of financial security. For instance, a the annual rent for a 2-Bedroom Apartment is between NGN1.5 million and NGN2.5 million depending on the location of the property in Lagos. Come on, set a goal of acquiring properties in this city as soon as possible.

Three, there are both affordable and expensive properties in this city. You only need to carefully and diligently search for properties across all the five administrative cities of the state. It is important to state that all expensive properties in Lagos were once affordable. Over time, all affordable properties will become expensive too. So, do not despise any location in the city of Lagos – Mainland Lagos, Island Lagos, Ibeju-Lekki, Epe, Ikorodu, Okokomaiko, and other administrative areas of the city.

Four, Lagos is a major financial centre in Africa and the economic hub of Nigeria. As earlier mentioned, it is regarded as the commercial capital of Nigeria and it regularly attracts foreign investments from different parts of the world. These inflows drive up the demands for properties and boost the overall economy of the state.

Five, do you know that the Lagos Stste Government has a comprehensive and accessible database for licensed developers and realtors i.e., real estate agents? The state agency, LASRERA, issues a permit to real estate developers and realtors before they can operate in the state. This permit enables the agency to rid the state of unscrupulous players and protect the interests of individual and institutional investors. Hence, the investments of individual investors are protected from unscrupulous agents called Omo-Onile. Your investments can never be stolen if you deal with only licensed developers and realtors in Lagos.

Lastly, you need to have a property in Lagos. Even if you are building a mansion in your hometown, acquire lands and buildings in numbers at anywhere in Lagos for unbeatable cash flows, capital gain and for posterity. The returns on the properties you have in your hometown cannot come close to what you will realise in Lagos. Please, be less emotional and smart with your investments.

Now, my question is, what’s hindering you from investing in Real Estate in Lagos? Do you have preferences for some places in Lagos? What’s your budget like? Let’s talk about them.
Thank you for making out time to read this article.