I recently traveled along Lagos- Ibadan expressway, and I couldn’t help but wonder about the influence and impact that Lagos State has on the fast infrastructural development and rapid real estate growth along this axis.
Lagos, the vibrant and ever-expanding metropolis, is a melting pot of opportunities for real estate investors and enthusiasts. Beyond the glitzy high-rises and bustling island neighborhoods, the Lagos real estate market has been experiencing a significant shift towards the mainland, interlands, and even the outer city areas. Let me quickly point out those emerging real estate hotspots that are redefining Lagos’s property landscape.
1. Ikorodu: The Gateway to Lagos’s Mainland
Ikorodu, often referred to as the “Gateway to Lagos’s Mainland,” is experiencing a resurgence in real estate activity. Its strategic location, affordable housing options, and improving infrastructure have made it a magnet for those seeking a balance between city life and serenity. With the ongoing road network expansions, the commute to and from Ikorodu has become more convenient, making it an attractive choice for commuters.
2. Mowe and Arepo: The Suburban Dream
Nestled along the Lagos-Ibadan Expressway, Mowe and Arepo have emerged as suburban paradises. These areas offer a quieter, more spacious way of life while remaining well-connected to Lagos. The availability of land for housing developments and the ongoing expansion of the expressway make Mowe and Arepo viable options for both residential and commercial real estate ventures.
3. Lagos-Ibadan Expressway: A Corridor of Promise
The Lagos-Ibadan Expressway is not just a transportation artery but also a real estate corridor of promise. With various infrastructural projects underway, this region is experiencing a property boom. The ease of access to Lagos and Ibadan, two major economic hubs, has sparked interest in residential and commercial properties, particularly along this vital road network.
4. Isheri/Olowora: A Tranquil Haven
Isheri, with its serene environment and proximity to the upscale neighborhoods of Lagos, has become a sought-after destination. The availability of large plots of land and the potential for planned communities are drawing real estate developers. The development of Isheri as a choice residential area is evident, as more people opt for the tranquility it offers.
5. Epe: Coastal Beauty and Investment
Epe, known for its scenic coastal landscapes, is fast becoming a prominent real estate hotspot. The Epe Marina Project, the Lekki Free Trade Zone, and the proposed Lekki Deep Sea Port have brought attention to this region. These infrastructural developments are attracting investors eager to secure property before the area’s real estate values soar.
6. Abeokuta: Lagos’s Neighboring City
While not within Lagos’s borders, Abeokuta, the capital of Ogun State, is increasingly becoming an extension of Lagos for many. Its proximity to Lagos, combined with the relative affordability of property, is driving interest. The planned railway connection between Abeokuta and Lagos is set to enhance the convenience of living in Abeokuta while working in Lagos.
Lagos’s real estate landscape is evolving beyond the confines of the island. Emerging neighborhoods on the mainland, in the interlands, and in the outer cities are providing diverse opportunities for property investment. The blend of affordability, convenience, and potential for growth makes these areas intriguing for both investors and those seeking to establish roots in Lagos.
As you consider your real estate ventures in Lagos, keep an eye on these emerging neighborhoods, as they have the potential to redefine the future of real estate in this dynamic city.
By Tolulope Olamipo