You must have known that Ibeju-Lekki is popularly known as the ‘New Lagos’ because of the various government projects going on in the area. Just a few years ago, nobody wanted to invest in Ibeju-Lekki because it was a remote and unattractive place.
However, the area experienced a breath of fresh air when the government announced their plan for the place, including the projects coming up, especially the decision to move the Lekki Free Zone to Ibeju-Lekki in May 2006.
The presence of Dangote refinery also did a whole world of good for the area. Investors, both local and international, flocked in from different parts of the world to establish their businesses.
Today, Ibeju-Lekki has become a gold mine for real estate investors. Businesses need land to establish.
Those foreign investors who are in Lagos, Ibeju-Lekki precisely, will live in houses, provide shelter for their staff and also build their offices – all of which require land. Following this development, the value of land in Ibeju-Lekki never looked back.
It is therefore important that you carefully take your time to read through this piece and understand why you must invest in Ibeju-Lekki.
Why should I invest in Ibeju-Lekki?
I suppose this is a question that you have been itching to get an answer for. I know this because a lot of people have thrown this very question at me on several occasions.
It is important to know that as an investor, or a prospective land buyer who who wants to invest in real estate, there are several factors to look out for in any piece of property before deciding to toss your hard-earned money at it.
I know you will agree with me that location is a vital factor to consider. But before investing in Ibeju-Lekki land, I want you to follow me as I list out some of these factors.
You can then decide whether Ibeju-Lekki ticks all the boxes and also, if you are ready for land investment.
- Location:
One of the most important yardsticks for measuring a great real estate investment is its location.
The location of a property can impact your family’s safety, comfort, happiness and finances. It can be a very costly mistake to buy a property located in the wrong place.
Therefore, if location is very necessary, how do we know a good location?
- A secure community:
Security of life and property is the most important factor to determine a good location.
Looking at the high rate of criminality in urban areas recently, it is important that you verify the safety of the area before investing your money.
Luckily, Ibeju-Lekki is among the lowest crime areas in Lagos.
If your community is secure, residents will be able to move with confidence and interact with one another.
One of the appealing benefits of investing in Ibeju-Lekki is that it is a safe place to live and raise your children without the fear of riff raffs causing you harm.
- Access to infrastructure:
Ibeju-Lekki boasts quality and reputable schools like Green Springs, Corona, Chalcedony, Edidot, Caleb among others; there is no shortage of them.
Hospitals, shopping malls, banks, markets, police stations are just but a few of the infrastructure that is available in Ibeju-Lekki that makes it a fantastic investment location.
- Easy connection to other areas:
There is a silent law that says that the farther away a property is stay from the bus stop, the lesser the value of such property.
A good property should have easy access to bus stops/transportation. Ibeju-Lekki a has stable and consistent transportation system. You can easily get a bus going to Epe, Ajah, Lekki, CMS, Obalende, Victoria Island, Ikoyi and Oshodi.
Because of the influx of people to the area, transportation has become another huge source of revenue. Investing in Ibeju-Lekki will mean that you also have the opportunity, if you so wish, to invest in transportation and diversify your source of income.
- Infrastructural developments:
Ibeju-Lekki is a very promising location for investment. It is exciting to know that some super infrastructural developments are on the way to the area. The Lekki Deep Seaport, Lekki Free Trade Zone, The Lekki-Epe Airport and Dangote Refinery are the biggest infrastructure in Ibeju-Lekki.
If a property must have future value, it is a necessity that it is located close to upcoming developmental projects.
All the activities before and during the projects like road construction will have a great effect on the value of the property due to its location.
6 Types of Profitable Real Estate investments to Explore
If you are looking to invest in land in Lagos, or in buying a house, you should think of investing in Ibeju-Lekki because it is becoming a top destination for people looking for residential property.
- Huge return on investment (ROI) – Over 100% appreciation per year
This is absolutely huge! For a location that 10 years ago was not as hot as this?
The rate at which Ibeju-Lekki is developing, you property will get over 100% appreciation on a yearly basis.
Mind you, close to 50% of the development in Lagos, especially in construction, is happening in Ibeju-Lekki.
Have you asked yourself what the value of land would be when the constructions are completed? Did you see the Awoyaya and Majek roads being fixed?
These are the pointers that every good investor looks at to enable them make sound investment decision. The time for you to invest is today, so you don’t get left out!
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Is Ibeju-Lekki a good investment or a good place to live?
Generally speaking, investing in a property in Ibeju Lekki, which is located after Ajah, is a great investment because, due to infrastructural development, tourism capability and affordable property prices. Besides, every real estate investment should be carefully researched before venturing into it.
What are the benefits of investing in Ibeju-Lekki
The benefits of investing in Ibeju-Lekki cannot be overstated. Here are a few of them:
1. Presence of multi-billion-dollar investments(such as Dangote refinery, Dubai smart city)
The Lagos state government signed a partnership with Dubai in 2016 to build Africa’s first smart city. The presence of this investment, as well as other big investments such as the Dangote refinery, represents critical capital investment in large-scale projects with the ability to shift industries and cities, thereby fueling socioeconomic development and creativity.
2. Flipping land for huge returns
Flipping land involves buying a property with the aim of selling it quickly for a substantial profit. This method is known for its potential to yield significant financial return on investment. If you invest in Ibeju-Lekki, you have the opportunity to flip your property and make quicker profits because of how fast Ibeju-Lekki is developing.
3. Hundreds of beautiful developing estates in Ibeju-Lekki
Ibeju-Lekki which is mostly called “the new Lekki” in some quarters, has very many attractive, upcoming residential communities and property developments. The area is undergoing rapid growth and offers a wide range of investment opportunities in a wonderful and promising way. When do you plan to invest in Ibeju-Lekki?
4. Rental property yields over 1000% in returns in 1 year
Rental properties in Ibeju-Lekki have the capacity to yield over 1000% in returns in just one year, which indicates an incredibly high return on investment. This shows that a property’s rental income in Ibeju-Lekki is significantly surpassing its initial purchase price and associated fees, making it a potentially lucrative investment opportunity.
5. Lekki-Epe international airport
The Lekki-Epe International Airport is an already awarded airport project in the Lekki-Epe axis of Lagos. This airport is expected to serve as a key transportation hub, facilitating economic development and improving connectivity in the region by providing international and local flight services. One of the core benefits of investing in Ibeju-Lekki is that you will no longer have to travel to Ikeja to catch your flights.
6. Lekki deep seaport
The Lekki Deep Seaport is a major infrastructural project. It is intended to be a deep-water port that can accommodate huge cargo ships and facilitate international trade. It is projected to stimulate economic growth, trade, and position Lagos as a vital marine hub in West Africa once completed, as well as increase real estate value in the area. This will make Ibeju-Lekki one of the best places to invest in.
Also read: 8 Reasons Why you should invest in Epe
7. Tourist centers (Lufasi Park, Eleko Beach and Omu Resort)
Popular tourist sites in Ibeju Lekki include Lufasi Park, Eleko Beach and Omu Resort, which are noted for their natural beauty and recreational activities. Lufasi Park is a conservation center with rich flora and fauna that provides educational and recreational opportunities. Omu Resort, on the other hand, is an amusement park and natural reserve that offers visitors a variety of entertainment alternatives such as water activities, wildlife encounters, and adventure rides, making it appealing to both tourists and residents.
8. Lekki free trade zone
The Lekki Free Trade Zone is an industrial area in Lagos, Nigeria. Its mission is to stimulate economic growth and international investment by creating a business-friendly environment through tax breaks and infrastructure investments. This zone is home to a variety of businesses, including manufacturing, logistics, and technology firms, with the goal of increasing employment and commerce in the region while contributing to the economic growth of the nation.
The presence of this establishment has significantly improved the value of real estate in Ibeju Lekki and makes it a place of attraction for investors.
How much is the cheapest land in Ibeju-Lekki?
The average rate of land in Ibeju-Lekki is between N3,000,000 and N30,000,000 depending on the location, neighbourhood and infrastructure surrounding it.
Generally, land between Sangotedo and Abijo is more expensive that land between Awoyaya and Ibeju. However, some plots of land with good titles, located within an estate that has fantastic amenities like light, water, security – found in Ibeju-Lekki, can be more expensive than others at Ajah and Sangotedo without such organization.
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