On an incremental foundation, Lekki, an upscale location in Lagos, is gaining recognition and acceptance as a vacation spot for funding and homeownership. It’s mentioned to be the quickest rising hall in Lagos.

For good causes, it has change into a pretty location for funding in actual property typically and condo properties specifically. Demand for residences or flats is greater on this location than some other place on the island areas of Lagos.

BusinessDay findings present that 15.7 p.c of individuals on the lookout for homes to lease flock to that space, whereas as excessive as 52.7 p.c of them are on the lookout for small dimension residences, principally two-bedroom.

Current Google Development searches by Nigeria Property Centre, helps our findings, displaying that, for the month of Could, solely 7 p.c of these on the lookout for homes to lease in that axis went to Ajah; 4.5 p.c to Ikeja; 3.1 p.c went to Ikoyi, whereas 2.6 p.c favoured Victoria Island.

The searches additionally present that whereas homes for lease nook 52.7 p.c of the housing market, these on the market signify 33.4 p.c; brief let residences take pleasure in solely 3.4 p.c of the market whereas three way partnership has simply 0.3 p.c market share.

For yield-hungry buyers with an urge for food for investing in rental properties, Lekki is an effective location. “Lekki is a chief location on the nerve centre of Lagos upscale market, monetary and enterprise district. Properties positioned on this space of Lagos will proceed to reap financial features and improve in worth,” Emmanuel Joseph, at Purple Dwelling, mentioned.

Joseph famous that extra profitable jobs, companies and leisure actions will proceed to enter this market place, including that the impact of this is a rise in demand for workplace areas, enterprise shops and demand for housing. “This can proceed and can respect the worth of your property which is able to develop sooner in comparison with much less enticing neighbourhoods of Lagos,” he mentioned.

He described Lekki as a longtime profitable actual property market, explaining that the realm has a great observe report for promoting and shopping for property. Based on him, demand for property is excessive and rising which is why investing in Lekki is a smart determination.

“Due to luxurious residing on this prime space, your property will appeal to excessive web value people that may afford a luxurious life-style. There’s a robust demand for a luxurious house on this intellectual metropolis,” he mentioned.

Persevering with, he mentioned, “Lekki is without doubt one of the best locations to liquidate your actual property asset as long as it’s not overpriced above its market worth. To get the most effective out of this actual property market, avail your self of seasoned actual property professionals with a popularity in the actual property sector.”

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As one of many main cities in Nigeria, Lagos is an lively rental market and, in line with the searches, the state leads the opposite three prime states the place many individuals are on the lookout for homes to lease. These are Rivers, Ogun and Abuja, the federal capital territory.

As of Could this 12 months, whereas 60.9 p.c of renters favoured Lagos, 19 p.c, 2.4 p.c and 1.9 p.c favoured Abuja, Rivers and Ogun respectively. This corroborates an earlier report by Pison Housing Firm which mentioned that about 80 p.c of the estimated 20 million Lagos inhabitants stay in rented lodging.

Roland Igbinoba, president/CEO of the corporate, added that 80 p.c of the residents spent about 50 p.c of their revenue on home lease.