by Christopher Nwankwo
Everyone wants to know the best place to buy land in Lagos. But most people get answers based on hearsay and not hard data.
We decided to change that.
In this guide, we interviewed over 40 independent realtors in Lagos and compiled this data to help:
- Investors make the best possible choice
- Realtors provide data-backed recommendations
- And increase the data available on Lagos real estate for the betterment of all stakeholders
We did not just highlight the best place to buy land in Lagos, but also why these places stand out, and areas you should avoid.
Let’s dive in!
Top Reasons The Real Estate Professionals Recommended These Areas to Buy Land in Lagos
Before buying land in Lagos or any place on the globe, you will most likely consider factors like:
- How developed the area is + future development plans
- The safety of the neighborhood
- The condition of the road network
- Return on investment/capital appreciation, etc
After asking the realtors about the best place to buy land in Lagos, our next question was on why they recommended these places and the data below encapsulates their reply.
Key Insights
- 88.4% of the agents cite rapid development as the key factor
- 74.4% emphasize government infrastructure projects
- Nearly 2 of out 3 agents (65.1%) prioritize rental income potential
- 67.4% consider good road connectivity as essential for land value
- 58.1% value proximity to commercial/industrial hubs
- 48% see affordability as a huge competitive advantage
- 44.2% prioritize security considerations
- While another 44.2% emphasize proper land documentation
Note: Since the agents’ recommendation reflects the buying behavior of their clients, this goes to show that most clients value rapid development over security considerations.
Investment Strategy Implications for Individuals Looking for the Best Place to Buy Land in Lagos
The above goes to show that most successful land investments in Lagos are hinged on:
- Growth trajectory (rapid development + government backing)
- Income generation (rental potential + accessibility)
- Risk mitigation (security + clear titles)
- Affordability
This explains why a particular axis [as we will see below] dominates the recommendations
What is The Best Place to Buy Land in Lagos?
Note: The data below is based on total number of mentions, not total number of respondents
From the data above, it is clear that almost 1 in 2 agents recommend Ibeju-Lekki as the best place to buy land in Lagos. And the reasons listed above show why it is the popular choice, with 46.5% of the vote.
Epe [27.9%] and Lekki [25.6%] are the obvious second-tier choice, with about a quarter of the agents backing them. Ajah follows closely at 23.3%, making it another great choice for investors looking to buy land in Lagos.
Key Insights
- Geographic pattern: The data above shows that over 80% of the recommendations cluster around the Lekki-Epe corridor. This suggests that the eastern parts of Lagos offer the best combination of growth potential, infrastructure, and investment returns.
- Consensus: 46.5% of respondents naming Ibeju-Lekki also shows a general agreement in the industry about where the smartest opportunities lie
- Diversity: While the top four locations dominate, the experts also identified about 20 other viable spots, which is an indication that Lagos offers an array of investment opportunities across price points and development stages.
What Are The Emerging Places to Buy Land in Lagos
This almost feels like a repeat of the first data, with some similarities in winners and rationale.
Ibeju-Lekki emerged as the best emerging place to buy land in Lagos. Over half of the experts consider Ibeju-Lekki as the top area to consider, with agreeable potential to be big.
Key Insights
- The Eastern Corridor Advantage/Dominance: Epe, Lekki, and Ibeju-Lekki, which make up 79.1% of the recommendations, all fall within the Lekki-Epe axis.
- The Ajah Shift: Unlike the list for best places to buy land in Lagos, Ajah doesn’t appear on the list of emerging places. Which indicates that contrary to the old public opinion, Ajah has moved from “emerging” to an established neighborhood.
- Market maturity indicators: The data above suggests a two-tier emerging market; with Ibeju-Lekki and Epe [72.1 combined] as the major emerging hub, and all others Magboro, Mowe, etc, as the lower tier.
Are Clients Buying Land in These Places to Build or For Investment Purposes?
According to our survey, the majority of clients are not choosing between building and investing. The study shows they are doing both.
- 81.4% of agents said their clients are buying land in Lagos to both build and invest
- 11.6% of buyers are focused on building and living on their land immediately
- While 9.3% are strictly land banking for investment, with no immediate construction
Key Insight
Buyers in Lagos are playing the long game, while making the most with their property investment.
In other words, they approach land as a dual-purpose asset, for now and the future.
What Are The Places to Avoid When Buying Land in Lagos?
The survey reflects key themes that spotlight areas to avoid.
Here’s a thematic analysis of the data:
- Government Interference: Some of the experts recommended that investors avoid areas with high cases of government acquisition
- Poor Infrastructure: Several experts advise against acquiring land in areas with poor infrastructure and no indication of future development, especially areas with bad drainage network
- Fraudulent Land Deals and Land Disputes: This was highlighted in some of the responses. Specific areas mentioned include Oko Agbon Village, Monastery Rd. environs, et cetera, with high presence of land dispute
- Traffic and Accessibility: It is almost difficult to avoid traffic gridlocks in Lagos. However, the respondents mentioned areas like Aponbon and Ikorodu as places to avoid for the accessibility reasons
- Lack of Development: Finally, the experts also advised against buying land in places that are neither developed, nor have future development potentials
What Are The Most Prefered Title Documents For Land Purchase in Lagos
This question might be commonsensical in appearance. However, it was added to give you a robust insight into the Lagos land market.
From the survey data, 65.1% of the experts chose Certificate of Occupancy as the safest and most preferred title document you need to buy land in Lagos.
This is followed by Governor’s Consent with 18.6%, excision with 7%, and the rest trailing far behind.
Key Insights
- 3 out of 4 real estate experts stick to and invariably recommend C of O and Governor’s Consent.
- The above suggests that while alternative titles or land with other titles are cheaper, in reality, the experts and their clients pay more for titles with better legal protection.
How Much Do You Need To Buy Land in Lagos?
Over 55.8% of the experts ticked #10,000,000+ as their clients’ predominant budget. This is followed by #6M – 10M at 25.6%, #3M – #6M at 16.3%, and #1M – #3M as the least.
Key Insights
- Since #10M has the majority vote, it indicates that Lagos land investment is predominantly a premium market
- The price tag also signifies a significant barrier of entry for smaller investors
Conclusion
9 out of 10 experts point to the same factors, over half of the participants pick the same location, and there’s a unanimous agreement on title preference.
This shows their contribution has evolved from opinion to hard market intelligence you can trust, especially if you’re looking for the best place to buy land in Lagos.
