Lagos, Nigeria’s most populous city, is the country’s economic and cultural hub.
The thriving metropolis is home to millions, with an ever-growing demand for residential, commercial, and industrial land.
Yet, Lagos is also a city known for its rising property prices, which can be daunting for both new investors and individuals looking to build homes.
However, opportunities still abound for those willing to explore affordable and emerging areas.
In this article, we will explore 24 cheap and best places to buy land in Lagos.
These are areas that are not only affordable but also poised for growth and development.
0ffering excellent value for future investments.
We’ll share real-life stories of individuals who seized these opportunities and achieved incredible results.
You’ll also discover inspiring lessons about perseverance, foresight, and strategic planning in real estate investment.
Whether you are an aspiring real estate mogul or someone looking to build a home without breaking the bank.
This guide will provide the insights and inspiration you need to make informed decisions.
Ibeju Lekki Lagos
Ibeju Lekki has emerged as one of Lagos’ fastest-growing districts, fueled by various high-profile development projects.
Like the Lekki Free Trade Zone, the Dangote Refinery, and the Lekki Deep Seaport.
Once considered a remote part of Lagos, Ibeju Lekki is now at the forefront of Lagos’ expansion, attracting both local and international investors.
Why Buy Land in Ibeju Lekki?
- Proximity to major infrastructure projects.
- Steady appreciation of land value.
- Growing demand for residential and commercial properties due to industrial activities.
Real-Life Example
Consider the story of Chinedu, a 34-year-old entrepreneur who, in 2016, purchased a plot of land in Ibeju Lekki for just N500,000.
At the time, the area was largely undeveloped, and many considered the investment risky.
However, Chinedu had the foresight to see the potential.
Fast forward to 2024, and the same plot of land is now valued at N15 million, a staggering 700% appreciation in less than a decade.
Chinedu is now developing the land for a small hotel to cater to business travelers visiting the Lekki Free Trade Zone.
His decision to invest in a “risky” area has transformed into a life-changing opportunity.
Lesson
Investing early in developing areas can yield massive returns.
While others may hesitate due to a lack of immediate infrastructure, those with vision and patience can reap significant rewards.
The key is to think long-term and invest where development is headed.
Epe
Epe, located on the northeastern outskirts of Lagos, is often referred to as the “new frontier” for land investment in Lagos.
Once primarily an agricultural hub, Epe is now seeing a surge in real estate interest.
Thanks to improved road networks and its proximity to the bustling Ibeju Lekki area.
The Epe-Mojoda road has opened up the area, making it more accessible and attractive for developers.
Why Buy Land in Epe?
- Affordable land prices compared to other parts of Lagos.
- Increasing infrastructure development.
- The strategic location, with proximity to Ibeju Lekki and the Free Trade Zone.
Real-Life Example
Funke, a retired schoolteacher, saw the potential in Epe early.
In 2018, she purchased two acres of land for just N300,000 per acre.
Her plan was simple: hold the land for a few years and then sell it off for a profit.
By 2023, her land was valued at N2 million per acre, allowing her to sell half of it and build her dream retirement home on the remaining plot.
Funke’s story demonstrates the power of patience and vision in real estate investment.
What started as a simple plan for retirement has now turned into a profitable venture that will provide generational wealth for her children.
Lesson
Emerging areas like Epe may not offer immediate returns, but they present excellent long-term investment opportunities.
As infrastructure improves and more people move in, the value of land can increase exponentially.
For those willing to wait, areas like Epe offer a way to secure future wealth at affordable prices today.
Ikorodu
Ikorodu, situated on the northeastern fringe of Lagos, has traditionally been a quiet, suburban community.
However, recent improvements in road infrastructure and increased demand for affordable housing have transformed Ikorodu into a sought-after location for both middle-class families and real estate investors.
The town’s proximity to key parts of Lagos, including the island and mainland, has contributed to its rise in popularity.
Why Buy Land in Ikorodu?
- Affordable land prices compared to Lagos Island or Lekki.
- Well-connected road networks, providing access to both mainland and island areas.
- Increasing demand for residential properties as more people seek affordable housing.
Real-Life Example
Tunde and his wife, a young couple with three children, were determined to own a home in Lagos but were deterred by the high prices on the island and mainland.
After much research, they decided to buy land in Ikorodu in 2017, where prices were still affordable.
They purchased a plot for N800,000 and began building their family home gradually, doing much of the work themselves to save costs.
By 2023, their home was complete, and the value of their property had doubled.
Not only did they manage to build their dream home within budget, but they also gained equity in the process, giving them the financial security they sought.
Lesson
Ikorodu teaches us that proximity to central Lagos is not the only factor in choosing where to buy land.
With good road networks and patient development, suburban areas like Ikorodu can offer affordable solutions for families looking to escape the high cost of living in more central parts of Lagos.
Badagry
Badagry, located on the western outskirts of Lagos, is rich in history and culture, being home to significant landmarks from Nigeria’s colonial past.
In recent years, the government has been promoting Badagry as a tourism and investment destination, leading to a steady increase in land prices.
Despite its growing popularity, land in Badagry remains relatively affordable compared to other parts of Lagos.
Why Buy Land in Badagry?
- Affordable land prices with significant room for appreciation.
- Government efforts to promote tourism and development.
- Proximity to the Republic of Benin, offering unique commercial opportunities.
Real-Life Example
Michael, a Lagos-based entrepreneur with a passion for eco-tourism, saw an opportunity in Badagry’s rich cultural heritage.
In 2019, he purchased five acres of land along the coast for just N1 million.
His vision was to develop an eco-friendly resort that would cater to tourists visiting Badagry’s historical sites.
Today, his resort is under construction, and the value of his land has appreciated by over 300%.
Michael’s foresight in combining tourism with real estate investment has positioned him as a leader in Badagry’s growing tourism sector.
Lesson
Sometimes, the value of land is not in its current state but in its potential for future development.
Areas with historical or cultural significance, like Badagry, offer unique opportunities for investors who can think outside the box.
By aligning his investment with the government’s tourism initiatives, Michael not only increased the value of his land but also created a business that will benefit from the area’s growing popularity.
Mowe-Ofada
Mowe-Ofada is located just outside Lagos, along the Lagos-Ibadan Expressway.
This area has become a hotspot for affordable real estate, with many developers building gated communities and housing estates to cater to the growing middle class.
Mowe-Ofada’s appeal lies in its affordability and accessibility, making it an attractive option for those seeking a balance between cost and convenience.
Why Buy Land in Mowe-Ofada?
- Proximity to Lagos without the high price tag.
- Numerous housing estates and gated communities under development.
- Affordable land prices and flexible payment plans offered by developers.
Real-Life Example
Emeka and Ngozi, a couple in their mid-30s, were looking to invest in rental properties as a source of passive income.
After considering several options within Lagos, they decided to purchase two plots of land in Mowe-Ofada in 2020 for N1.2 million.
Over the next three years, they built a small apartment complex, which they now rent out to young professionals working in Lagos but living outside the city.
Their investment has not only provided them with a steady stream of income but also increased the value of their property, as Mowe-Ofada continues to grow in popularity.
Lesson
Affordable land outside Lagos proper can still offer immense value when combined with the right property strategy.
Emeka and Ngozi’s decision to build rental properties in Mowe-Ofada has given them financial independence while allowing them to take advantage of Lagos’ housing demand without the high cost of inner-city investments.
Mowe-Ofada represents a growing trend where suburbs are becoming the go-to choice for investors seeking long-term growth and affordable entry points into the Lagos real estate market.
Sangotedo
- Fast-growing residential and commercial community.
- Proximity to Lekki, Victoria Island, and other major hubs.
- Numerous housing estates being developed, increasing demand for land.
Real-Life Example
Mary, a civil servant living in Lagos, had been saving for years to buy her own home.
In 2018, she invested in a piece of land in Sangotedo, purchasing it for N1.5 million.
At the time, the area was not as developed as it is today, but Mary saw its potential.
With the construction of the Novare Mall and the growth of residential estates, her land appreciated to N20 million by 2023.
Mary has since started building her family home on the land and plans to move in by the end of 2024.
Her investment has not only secured her family’s future but also positioned her to enjoy the rapid development happening in the area.
Lesson
Investing in areas that are strategically located near commercial centers and transportation routes can lead to quick appreciation.
While Mary had to wait a few years for significant returns, her foresight and patience paid off, enabling her to build her dream home without being priced out of the market.
Sangotedo’s rise shows that areas on the periphery of high-demand zones can offer tremendous growth opportunities.
Abule Egb
Abule Egba is a neighborhood that has seen significant transformation in recent years, transitioning from a more rural area to a bustling part of Lagos.
Its appeal lies in its proximity to central Lagos and the fact that land remains relatively affordable compared to other parts of the city.
With the ongoing expansion of roads and the introduction of new public infrastructure, Abule Egba has become a prime location for investors seeking affordable land with good prospects for development.
Why Buy Land in Abule Egba?
- Affordable land with good proximity to central Lagos.
- Ongoing infrastructure projects, including road expansion.
- Increasing demand for residential properties as Lagos expands outward.
Real-Life Example
In 2017, Femi, a young tech startup owner, decided to move his growing business out of a rented office in the Lagos mainland to a location where he could both live and work without the burden of high rent.
He purchased land in Abule Egba for N1.8 million and constructed a modest duplex that served as both his home and office.
By 2023, the value of his land had nearly doubled due to the road expansion project and the increasing number of residential developments in the area.
Femi’s decision to invest in a developing neighborhood allowed him to significantly reduce his operational costs while benefiting from the increasing value of his land.
Lesson
Sometimes, real estate investments can serve multiple purposes.
Femi’s story highlights the benefit of looking for affordable land that offers both residential and commercial use.
By investing in Abule Egba, Femi was able to expand his business, reduce his overheads, and create long-term value through his property investment.
Ayob
Ayobo, located in the Alimosho Local Government Area, is another affordable part of Lagos that is gaining attention.
Traditionally a quiet area, Ayobo is now witnessing rapid development, especially with the Lagos State government’s efforts to improve infrastructure.
Land in Ayobo is relatively cheap compared to other parts of Lagos, making it an attractive option for young families and first-time investors.
Why Buy Land in Ayobo?
- Affordable land with a quiet suburban feel.
- Ongoing infrastructure development, including road construction.
- Growing popularity among young families and middle-class professionals.
Real-Life Example
In 2019, Samuel and his wife Bimpe, a young couple with two kids, decided to buy land in Ayobo to build their family home.
They purchased a 600 square meter plot for N1.2 million and began building incrementally, starting with a two-bedroom bungalow.
Over the next three years, they expanded their home as their financial situation improved. By the end of 2023, they had completed a four-bedroom house that was now valued at N12 million.
Samuel and Bimpe’s journey is a testament to the power of incremental building, which allowed them to own a home without taking on heavy debt.
Lesson
For many Nigerians, the dream of homeownership can feel out of reach due to rising property prices.
However, Samuel and Bimpe’s story shows that buying land in affordable areas and building incrementally can be a smart strategy for achieving that goal.
Ayobo, with its affordable land and peaceful atmosphere, offers a viable option for families looking to build their dream homes at their own pace.
Agbow
Agbowa, located on the outskirts of Lagos near Ikorodu, is a growing town known for its serene atmosphere and affordability.
It’s a place where people seeking escape from the hustle and bustle of Lagos city can invest in land for either residential or agricultural purposes.
With more people moving toward suburban living, Agbowa has begun to attract developers and land investors.
Why Buy Land in Agbowa?
- Extremely affordable land prices.
- Peaceful, serene environment ideal for residential and agricultural use.
- Proximity to Ikorodu and other developing areas.
Real-Life Example
Grace, a retiree with a passion for farming, decided to purchase five acres of land in Agbowa in 2016 for just N200,000 per acre.
She had no intention of building a home on the land; instead, she wanted to start a small farm where she could grow produce and spend her retirement years.
Today, her farm supplies vegetables to local markets and small grocery stores in Lagos.
The value of her land has also appreciated, and she has plans to lease part of it for a new residential estate being developed in the area.
Grace’s story shows that land investment isn’t just about building homes; agricultural ventures can also provide substantial returns, both in terms of income and property value appreciation.
Lesson
Land in suburban areas can be used for more than just residential purposes. Grace’s investment in Agbowa has not only provided her with a peaceful retirement activity but has also generated income and increased her land’s value. This example highlights the diversity of land uses, from residential to agricultural, and the potential for investors to explore creative ways to make their land profitable.
Eleran Igb
Eleran Igbe, located along the Lekki-Epe corridor, is another rapidly developing area near Ibeju Lekki.
Its proximity to major developments like the Free Trade Zone and Dangote Refinery has sparked interest among investors looking for affordable land with future appreciation potential.
Though still in its early stages of development, Eleran Igbe has seen a steady increase in land prices, as more estates and infrastructure projects emerge.
Why Buy Land in Eleran Igbe?
- Affordable land prices with significant room for appreciation.
- Proximity to the Lekki Free Trade Zone and other major developments.
- Growing interest from developers and real estate investors.
Real-Life Example
In 2020, Abdul, a young professional working in Lagos, decided to invest in land in Eleran Igbe after attending several real estate seminars.
He purchased two plots for N1 million each, believing that the area would see rapid growth due to its proximity to the Lekki Free Trade Zone.
By 2024, the value of his plots had doubled, and he was in talks with a local developer to build an apartment complex that would cater to workers in the nearby industrial areas.
Abdul’s decision to buy land in an up-and-coming area has set him on the path to becoming a real estate developer, a goal he had long aspired to.
Lesson
Positioning yourself ahead of development trends can lead to substantial returns.
Abdul’s investment in Eleran Igbe shows that buying land near major infrastructure projects can be a smart move for investors who are willing to wait for growth.
As Lagos continues to expand outward, areas like Eleran Igbe will likely see significant appreciation, providing opportunities for both residential and commercial development.
Atan
Atan is located near Sango Ota in Ogun State, just outside Lagos.
The area is attracting attention due to its affordability and accessibility, with major roads connecting it to Lagos and other parts of Ogun State.
Atan is home to several residential estates, making it a prime location for middle-class families and investors looking for affordable land.
Why Buy Land in Atan?
- Very affordable land prices compared to Lagos proper.
- Proximity to Lagos and Ogun State, offering access to both markets.
- Growing number of residential estates and gated communities.
Real-Life Example
Olamide, a taxi driver in Lagos, had always dreamed of diversifying his income by investing in real estate.
In 2019, he purchased a plot of land in Atan for N600,000, which was all he could afford at the time.
He initially had no immediate plans to develop the land but saw it as a long-term investment.
By 2024, the value of his land had tripled to N1.8 million, as more residential estates and commercial developments emerged in Atan.
Olamide is now in the process of selling the plot to finance his next investment purchasing multiple smaller plots in a nearby developing area to further diversify his real estate portfolio.
Lesson
Olamide’s story illustrates how starting small in the real estate market can lead to larger opportunities.
He initially didn’t have the resources to build on the land, but he recognized the long-term potential.
Over time, even a small investment can grow, providing the capital to reinvest in bigger ventures.
Atan’s growing development and proximity to Lagos make it an affordable option for those looking to start their real estate journey.
Mopo-Akinbo
Mopo-Akinbo is located in the Eti-Osa Local Government Area of Lagos and is part of the broader Ibeju Lekki axis.
The area has become increasingly popular among investors due to its proximity to the Lekki Free Trade Zone and other infrastructure projects, but it remains more affordable than areas closer to Lekki itself.
Mopo-Akinbo offers a balance between affordability and potential for future growth.
Why Buy Land in Mopo-Akinbo?
- Proximity to the Lekki Free Trade Zone and other infrastructure projects.
- Affordable land prices with room for appreciation.
- Increasing interest from developers and middle-class home buyers.
Real-Life Example
Aisha, a schoolteacher in Lagos, purchased land in Mopo-Akinbo in 2018 for N1.2 million, using funds she had saved over the years.
She planned to build a small home for her family, but also saw the potential for appreciation due to the area’s proximity to Lekki.
By 2023, the land had appreciated to N9.5 million, and Aisha had already started building her home.
Additionally, she was able to sell a portion of the land to finance the construction, reducing her out-of-pocket expenses.
Lesson
Aisha’s story is a reminder of the importance of strategic location when investing in real estate.
Even though Mopo-Akinbo was not yet fully developed, its proximity to high-demand areas ensured a steady appreciation in value.
For investors like Aisha, buying land in areas adjacent to major developments can lead to significant financial gains while still providing the opportunity to build a home.
Ota
Ota, located in Ogun State but within commuting distance to Lagos, has long been known as an industrial hub, with numerous factories and commercial activities.
However, in recent years, Ota has also become a hotspot for residential development due to the overflow of Lagos residents seeking more affordable land options.
The area is well connected to Lagos through major road networks and offers an attractive alternative for those priced out of the Lagos property market.
Why Buy Land in Ota?
- Affordable land prices compared to Lagos proper.
- Close proximity to Lagos, making it ideal for commuters.
- Growing residential and commercial developments.
Real-Life Example
Kunle, a factory worker in Lagos, purchased land in Ota in 2016 for N800,000 with the intention of building a home for his family.
Over the next few years, as more residential estates and commercial developments sprang up in the area, the value of his land increased to N6 million.
Kunle was able to leverage the increased value of his land to secure a loan for the construction of his home, which he completed in 2022.
Kunle’s ability to turn a small investment into a home for his family was made possible by the rapid growth of Ota and its strategic location near Lagos.
Lesson
Ota offers an example of how industrial hubs can also become attractive residential areas as cities expand.
Kunle’s decision to invest in Ota allowed him to build a home in a growing area, benefiting from both affordability and appreciation.
For those looking for land with long-term value, areas like Ota, which combine residential and industrial growth, can be excellent choices.
Magboro
Magboro is located along the Lagos-Ibadan Expressway and is part of the expanding suburban belt of Lagos. The area has become a popular choice for those looking to escape the high costs of living in Lagos proper while still remaining within commuting distance. Magboro is known for its serene environment, affordable land, and increasing residential developments.
Why Buy Land in Magboro?
- Affordable land prices with steady appreciation.
- Proximity to Lagos via the Lagos-Ibadan Expressway.
- Growing number of residential estates and gated communities.
Real-Life Example
In 2017, Omolara, an accountant, decided to invest in a plot of land in Magboro for N1 million, after being unable to afford land closer to central Lagos.
Over the years, the value of her plot increased to N7 million, as more estates and developments emerged in the area.
In 2023, she decided to build a three-bedroom bungalow and rent it out, providing her with a steady stream of income.
Omolara’s decision to invest in Magboro allowed her to achieve financial independence through rental income, while also benefiting from the appreciation in property value.
Lesson
Magboro is a perfect example of how areas on the outskirts of Lagos can offer excellent investment opportunities.
Omolara’s story highlights the importance of looking beyond central Lagos for affordable land options.
With a strategic location along the Lagos-Ibadan Expressway, Magboro has become a haven for those seeking affordable land and housing, without sacrificing proximity to Lagos.
Mowe
Mowe is another area located along the Lagos-Ibadan Expressway, just before Magboro.
Like its neighboring communities, Mowe has become a popular location for those seeking affordable land within commuting distance of Lagos.
Numerous estates and gated communities have sprung up in Mowe, making it an ideal spot for middle-class families and investors.
Why Buy Land in Mowe?
- Very affordable land prices.
- Proximity to Lagos and Ogun State, making it ideal for commuters.
- Ongoing development of residential estates.
Real-Life Example
Oluwaseun, a young engineer, purchased land in Mowe in 2019 for N900,000 with the dream of building a home for his growing family.
Over the next few years, he and his wife built their home in stages, completing it in 2024.
Today, their home is valued at over N35 million, thanks to the appreciation in land value and the improvements they made over time.
Oluwaseun’s ability to build a home in an affordable area like Mowe gave his family the stability they needed, without the financial strain of buying property in central Lagos.
Lesson
Building in phases can be a smart way to achieve homeownership, especially in affordable areas like Mowe.
By starting with an affordable plot of land and gradually building over time, Oluwaseun and his family were able to create a valuable asset while avoiding the financial burden of taking on large loans.
Mowe offers similar opportunities for other families and investors looking to secure long-term financial stability.
Eleran
Eleran is another up-and-coming area located along the Lekki-Epe corridor.
The proximity of Eleran to major developments in Lekki, such as the Free Trade Zone, Dangote Refinery, and the proposed Lekki International Airport, has made it an attractive location for land investors.
Though the area is still developing, land prices remain relatively affordable, with significant room for future appreciation.
Why Buy Land in Eleran?
- Proximity to major developments like the Lekki Free Trade Zone and Lekki Deep Seaport.
- Affordable land prices with potential for appreciation.
- Increasing interest from developers and investors.
Real-Life Example
Joseph, a real estate agent, purchased land in Eleran in 2018 for N2 million, after recognizing the area’s potential for growth.
By 2024, the land had appreciated to N7 million, as the demand for property in the Lekki-Epe axis increased.
Joseph now plans to develop the land into residential units for lease, capitalizing on the growing demand for housing in the area.
Joseph’s decision to invest in Eleran highlights the importance of timing and foresight in real estate investment.
By identifying an area with significant development potential, he was able to maximize his returns.
Lesson
Areas near major infrastructure projects, like Eleran, offer immense potential for land appreciation.
Investors who are able to recognize the growth potential of these areas and act early can enjoy substantial returns.
Joseph’s experience shows that even relatively affordable land investments can turn into significant opportunities when strategically positioned.
Owode
Owode is located along the Ikorodu Road, providing easy access to Lagos Island and other parts of Lagos mainland.
Traditionally a quiet suburb, Owode has recently gained attention from investors due to its affordability and accessibility.
The area is well-connected to major road networks, making it a convenient location for those who work in Lagos but want to live in a more peaceful, suburban environment.
Why Buy Land in Owode?
- Affordable land prices with potential for appreciation.
- Proximity to Ikorodu, Lagos Island, and other key areas.
- Increasing residential developments and demand for housing.
Real-Life Example
In 2017, Ngozi, a nurse working in Lagos, purchased a plot of land in Owode for N1.5 million, hoping to build her family’s home.
Over the next few years, the value of the land increased to N4.5 million, thanks to the development of new estates and improved road networks in the area.
Ngozi has since built her dream home on the land and is enjoying the peaceful suburban lifestyle while still maintaining easy access to her workplace in central Lagos.
Her decision to buy land in a less developed, affordable area paid off, allowing her to build a home without the financial strain of buying in more expensive parts of Lagos.
Lesson
Owode offers an excellent example of how suburban areas can offer the best of both worlds: affordability and proximity to key commercial hubs.
Ngozi’s story highlights the importance of looking for emerging suburbs that offer potential for both personal use and property appreciation.
For those who don’t mind commuting, places like Owode present fantastic opportunities for real estate investment.
Epe
Epe, located on the outskirts of Lagos, is often referred to as the “next big thing” in Lagos real estate.
Known for its lush greenery, peaceful environment, and proximity to the Lekki Free Trade Zone and other mega projects.
Epe is rapidly transforming from a sleepy town into a prime area for real estate development.
Land prices in Epe are still relatively low, making it an attractive option for investors looking for long-term growth.
Why Buy Land in Epe?
- Proximity to the Lekki Free Trade Zone, Dangote Refinery, and other major developments.
- Affordable land prices with significant appreciation potential.
- Rapid infrastructure development, including new roads and bridges.
Real-Life Example
In 2020, Ibrahim, a real estate enthusiast, purchased five plots of land in Epe for N500,000 each.
At the time, Epe was still largely underdeveloped.
But Ibrahim believed in its future growth due to its proximity to key infrastructure projects.
By 2024, each plot had appreciated N5 million, and Ibrahim had sold two plots to fund the development of a commercial farm on the remaining land.
Ibrahim’s investment in Epe highlights the potential for long-term appreciation in areas undergoing rapid development.
His decision to invest early in an emerging area paid off, allowing him to both profit and expand his business ventures.
Lesson
Epe is a perfect example of how strategic investments in underdeveloped areas can lead to substantial returns over time.
Investors who are willing to be patient and recognize the potential of areas like Epe stand to benefit from significant appreciation.
Ibrahim’s story underscores the importance of foresight and long-term planning in real estate.
Ikorodu
Ikorodu, located in Lagos mainland, has long been a key part of Lagos’ real estate landscape.
Historically known as a relatively affordable suburb, Ikorodu has seen significant development in recent years, with more estates, schools, and businesses popping up.
Its location along major road networks connecting Lagos Island and other parts of Lagos makes it an increasingly popular area for families and investors.
Why Buy Land in Ikorodu?
- Affordable land prices compared to central Lagos.
- Growing demand for residential and commercial properties.
- Easy access to major road networks and public transportation.
Real-Life Example
In 2015, Chioma, a businesswoman, purchased a plot of land in Ikorodu for N2 million.
Over the next few years, as more estates and commercial developments emerged, the value of her land increased to N7 million by 2022.
She decided to develop the land into a small shopping complex, catering to the growing population in the area.
The complex now generates a steady income for her business, while the land continues to appreciate.
Chioma’s decision to invest in Ikorodu allowed her to secure both long-term property value and short-term rental income, demonstrating the area’s versatility as an investment destination.
Lesson
Ikorodu shows how suburban areas with strong infrastructure and road access can become attractive real estate markets.
Chioma’s investment in commercial development highlights the diverse possibilities available to investors, from residential to commercial ventures.
For those seeking a blend of affordability and potential, Ikorodu presents a compelling option.
Owutu
Owutu is a fast-developing suburb located in the Ikorodu axis.
Over the past decade, Owutu has seen an influx of residential estates and gated communities.
Attracting middle-class families and investors seeking affordable land.
The area’s peaceful environment, combined with its proximity to Ikorodu town and other key areas.
This makes it an attractive location for both homeowners and developers.
Why Buy Land in Owutu?
- Affordable land prices with potential for appreciation.
- Proximity to Ikorodu town and other developed areas.
- The increasing number of residential estates and gated communities.
Real-Life Example
In 2019, Emeka, a banker, bought land in Owutu for N1.5 million to build his family home.
By 2023, the land had appreciated to N7 million.
And Emeka had completed the construction of a five-bedroom house, where his family now resides.
Additionally, the value of his property continues to rise as more estates are developed in the area.
Emeka’s investment in Owutu not only allowed him to build a family home but also ensured that he benefited from the appreciation in land value, securing his family’s financial future.
Lesson
Owutu demonstrates the potential of suburbs that are rapidly developing and becoming more attractive to middle-class families.
Emeka’s story shows that by investing in affordable land and building over time.
Families can create both a home and an appreciating asset.
For investors seeking growth in less congested areas, Owutu offers significant potential.
Badagry
Overview
Badagry, located on the western edge of Lagos near the border with the Benin Republic, has a rich historical and cultural heritage.
The town is known for its beaches, historical sites, and potential for tourism development.
In recent years, Badagry has also seen interest from real estate investors.
Due to its affordable land prices and proximity to major infrastructure projects, including the Lagos-Badagry Expressway.
Why Buy Land in Badagry?
- Extremely affordable land prices.
- Potential for tourism-related developments.
- Proximity to the Lagos-Badagry Expressway and future developments.
Real-Life Example
Tunde, a Lagos-based entrepreneur, purchased land in Badagry in 2018 for N700,000 with the goal of developing a resort.
Though the area was relatively undeveloped at the time, Tunde saw the potential for tourism due to Badagry’s historical significance.
By 2024, the land had appreciated to N3 million.
And Tunde had begun construction of a boutique resort, attracting tourists from both Nigeria and the Benin Republic.
Tunde’s story highlights the potential for niche investments in areas like Badagry.
Where tourism and culture provide unique opportunities for land appreciation and business ventures.
Lesson
Badagry offers investors a unique opportunity to combine real estate investment with tourism and cultural development.
Tunde’s decision to invest in Badagry shows that thinking outside the box can lead to creative and profitable real estate ventures.
For investors interested in tourism or looking for affordable land in a culturally rich area, Badagry is an excellent choice.
Eleko
Eleko is a coastal community located along the Lekki-Epe Expressway, not far from the Lekki Free Trade Zone.
Known for its beaches and serene environment.
Eleko has become an attractive destination for both residential and recreational developments.
As more infrastructure projects, such as the proposed Lekki International Airport, come online.
Eleko is expected to see significant growth in the coming years.
Why Buy Land in Eleko?
- Proximity to the Lekki Free Trade Zone, Dangote Refinery, and proposed Lekki International Airport.
- Affordable land prices with potential for future appreciation.
- Growing interest in residential and recreational developments.
Real-Life Example
In 2019, Funmi, a Lagos-based architect, purchased land in Eleko for N1.5 million with the vision of building a vacation home.
By 2024, the value of her land had increased to N25 million.
As more people sought out Eleko for its peaceful environment and proximity to major developments.
Funmi has since begun construction of her vacation home, with plans to rent it out to tourists when she is not using it.
Funmi’s decision to invest in Eleko allowed her to benefit from both property appreciation.
And the growing demand for recreational homes near Lagos.
Lesson
Eleko offers an excellent opportunity for investors looking to capitalize on both residential and recreational real estate.
Funmi’s story highlights the value of investing in areas with natural beauty and proximity to key infrastructure projects.
For those interested in vacation homes or rental properties.
Eleko presents a compelling option for long-term growth.
Ibafo
Ibafo, located along the Lagos-Ibadan Expressway, is another suburban area that has seen rapid development in recent years.
The area offers affordable land prices, making it an attractive option for both first-time buyers and investors.
With easy access to Lagos, Ibafo has become a popular location for commuters looking to escape the high costs of living in Lagos proper.
Why Buy Land in Ibafo?
- Affordable land prices with potential for appreciation.
- Proximity to Lagos, making it ideal for commuters.
- Growing number of residential estates and gated communities.
Real-Life Example
In 2018, Taiwo, a civil servant, purchased land in Ibafo for N800,000 to build a home for his family.
By 2024, the land had appreciated to N3 million, and Taiwo had completed the construction of a four-bedroom house.
His family now enjoys a comfortable suburban lifestyle, while the value of their property continues to rise.
Taiwo’s investment in Ibafo demonstrates how affordable suburban areas can offer both financial growth and a better quality of life for families.
Lesson
Ibafo’s real estate shows how suburban areas with affordable land and proximity to major cities can become prime locations for real estate investment.
Taiwo’s experience highlights the importance of identifying up-and-coming areas with growth potential.
Even if they are located outside central urban hubs.
For investors looking to escape the high costs of Lagos while still benefiting from property appreciation, Ibafo is an ideal option.
Agbowa-Ikosi
Agbowa-Ikosi is situated in the Ikorodu area of Lagos.
It has become an attractive destination for real estate investors due to its affordable land prices and growing infrastructure.
The area is primarily residential but has seen an influx of new estates, schools, and businesses.
Making it a popular choice for middle-class families and developers.
Why Buy Land in Agbowa-Ikosi?
- Very affordable land prices.
- Close proximity to other developed areas in Ikorodu.
- Rapidly growing infrastructure and residential estates.
Real-Life Example
In 2016, Segun, a civil engineer, purchased two plots of land in Agbowa-Ikosi for N500,000 each.
Planning to develop one and hold the other as an investment.
By 2024, the value of his plots had increased to N8 million each, and Segun was able to sell one plot to fund the construction of a residential building on the other.
The property now provides rental income, and the remaining land continues to appreciate.
Segun’s investment in Agbowa-Ikosi shows how affordable land in emerging areas can provide both short-term and long-term financial rewards.