Looking to buy land in Lagos and wondering the Best Places To Buy Cheap Lands in Lagos? Continue reading for more details.
People nowadays prefer to construct their own homes rather than pay rent. They can also choose to buy their own homes or even build them themselves under their own supervision. Who wants to spend a lot of money on a piece of land? After paying a colossal sum for land, how much money would be left over to even lay the foundation of the house, let alone finish it?
The land is a fixed asset that cannot be moved and is a free gift from nature. Land does not depreciate in value, regardless of the price paid for it. Whether it’s expensive or inexpensive, the land will always be land. Why go out of your way to find pricey plugs when you can easily find inexpensive ones?
The value of land is appreciating every day, and as a result, its price is rising as well. Will you not hurry to grab the cheap ones before their prices are increased too?
This essay is aimed at persons who want to buy land in Lagos State. Quite a number of people are unaware of how expensive some lands appear in some areas of Lagos which is why to them, this article may seem useless. Now you need to know the places in Lagos where you should buy land since, according to our projection, the price of a plot of land in each of the sites we’ll discuss here will explode in the next few years.
Why is it so vital for you to put your money into a fixed asset like land? Nigeria is progressively sinking into recession as a whole. Every month, the value of our currency decreases. It is necessary to exercise caution in this regard. You may buy a plot of land, build on it, and then rent it out to others to make more money.
Lagos has Nigeria’s fastest-growing economy, with over 15 million citizens and a population that appears to be growing by the day. Lagos has become a center for trade, development, and investment as a result of this. Property and land are by far the most desired assets in Lagos. Obtaining an official deed of ownership over land or a landed property in Lagos offers numerous benefits; with this investment approach, you can quickly become financially secure.
That being said, let’s take a look at each of the best places to purchase affordable lands in Lagos, Nigeria arranged in no particular order.
Best Places To Buy Cheap Lands in Lagos
Ikorodu is without a doubt the most popular town and is one of the Best Places To Buy Cheap Lands in Lagos, with prices ranging from 600,000 to one 1,000,000 naira. Ikorodu is still a developing town, thus you can get inexpensive land there.
In locations like Ijede, Igbogbo, Ogijo, Imota, Imowonla, Igberigbe, Igbolomu, and Isawo, you may still acquire a block of land for between 600,000 and 1,000,000 in Ikorodu.
Amukoko, a town in the Ajeromi-Ifelodun LGA, is another location where you may get some of the best land deals in Lagos. There are numerous lands for sale, all of which are reasonably priced.
You can go to this location to see for yourself that there are still lands available for purchase at Ojo Road, Imam, Oja, Alaba, Tejumola, and Turner for as little as ₦750,000 to ₦1,300,000.
Agbowa is another fast-growing Lagos suburb where you may find decent and affordable land. Aba-Onigbagbo, Aba-Oriyanrin, AbijoAbomiti, Abosioto, Abule, and Ijesha are still undeveloped areas. The Lagos State Government has ambitious plans for the Agbowa axis. The Lagos state government has completed 90 percent of a 1000-unit housing estate project.
The government is also planning massive infrastructure development along that axis. This is the time to put yourself in a position to profit. A piece of land might cost anywhere from 500,000 to 900,000 naira. Some are even available for N450,000 in a decent location. Property prices could double in two years from N1 million and above.
There are numerous construction projects underway in this area, including roads, estates, infrastructure such as power, and numerous other developments that make Agbado one of the Best Places To Buy Cheap Lands in Lagos. A plot of land can be purchased for up to 900,000 naira. Abule Ekun, Oremerin, Ijaiye, Adiyan Ibaragun, Oluwo, Abule Ekun Olambe, Akera and Ishaga are among the areas in Agbado that are yet to be sold.
This is one of the few localities in Lagos, Nigeria, where a parcel of land costs less than N1.5 million. We all know Eti-Osa is a rapidly developing location, and the soil is extremely rich, allowing for up to six-story buildings to be built on it. Sangotedo Town, Unity, Cooperative Villa, Badore, and sections of Obalende are all good places to get cheap lands. These lands are erosion-free and as such, are suitable for construction purposes.
Located in Alimosho Local Government Area, Ijegun is another spot where you can simply buy a parcel of land for a low price. Swamps and canals abound in places like Isheri-osun, Alimosho, White Sand, and Fagbile, making land in Ijegun as cheap as 600K per piece. It’s worth noting that some properties are only inexpensive because they’re in swampy locations, which means you’ll have to spend money sand-filling your site before you can build a proper foundation.
In Lagos, Badagry is also known for its cheap lands. Be cautious before purchasing land in Badagry, as it is rumored that this is where fraudsters operate from. Trust me, you don’t want to lose over two million naira on a piece of land that already belongs to the government as it is said that most properties in Badagry are government-owned.
Apapa’s inclusion on this list is, of course, shocking. You might as well expect Apapa to be a pricey neighborhood. But not at all! Not every part of Apapa is so pricey. A plot of land can be purchased for as little as three million naira. This is only possible in areas like like Coconut, Ajegunle, Kirikiri, Wema, and Tincan.
Akute is one of the Best Places To Buy Cheap Lands in Lagos. The merchant is both reasonable and patronizing. In a rapidly developing neighborhood, Akute provides a diverse range of land for sale at a reasonable price. Land in areas like Ojudu Berger, Ojokoro, Ijoko, and Ibafo is available at a reasonable price.
Alaba is a well-known business district in Lagos state, and the rent offered by landlords here is ridiculously low. Land in Ojo Alaba is being offered in bulk, so now is a good time to buy. Ajangbadi Ikemba, Alaba, Ira, and Ojo are known for their low-cost housing.
It is necessary to note the following:
- Because of the high rate of fraud in Lagos, you must be cautious in your dealings. You must be aware of the procedures involved in purchasing land. Fraudsters are omnipresent, but their faces don’t have the word “fraud” inscribed on them. It’s impossible to identify who’s who.
- When looking to buy cheap lands in Lagos and even expensive ones, it’s a good idea to hire a lawyer. Based on the circumstances of the property to be purchased, a lawyer will assist you in tracing and searching the title of the property you wish to purchase, as well as determining the paperwork required for the transaction to be valid and successful.
- Make full payments for the land. Half payment is the quickest way to fall into the trap of the native landowner.
- Regardless of the price, do not purchase land in an agricultural zone. Purchasing land that has been zoned for agricultural purposes is the quickest method to have your house demolished by the government when they decide to utilize it for something else.
With all of this in mind, you may proceed to purchase your own piece of property. If you want to buy a house rather than a piece of land, check out our list of the best 10 real estate agencies in Lagos.
Also, check out our page for some of the cheapest land deals in Nigeria as a whole. To do that, visit our website at https://eucarlrealty.com