INVESTING REAL ESTATE IN IKORODU BY KAYODE RICHARD

Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water etc. It's an interest vested in an item of real property, (more generally) buildings or housing.
Also the business of real estate is the profession of buying, selling, or renting land, buildings or housing.
Investment in real estate is in the best interest of buyers and investors in order to foster peaceful living and guarantee high returns.
Ikorodu, the study area is a peri-urban and local government area in Lagos State, located along the Lagos Lagoon. Before now, not many investors and home buyers like to opt for Ikorodu property market because of the constant traffic jam on that axis. That jinx has about 5years back been broken with the existence of Mile12 - Ikorodu BRT Road which has now open up the axis and lead to a rush and hustle for accommodation in Ikorodu.
Still the focus of Lagos State government for development and urbanisation still remains in Epe, Badagry and Ikorodu and that's why Ikorodu is still very near ahead to witness a massive development in its urbanisation.
Investing in this Ikorodu real estate is contending that the axis is one of the viable real estate investment markets in Lagos mainland area considering its vast land mass, natural terrain and topography for high net-worth individuals. Also a central and strategically located business hub good for relaxation, leisure and domestication. So investors are guaranteed quick appreciation of property value.

How does this work?
Depending on your income, a plot of land is as high as N10m-N15m and it's also as low as N300k-N500k depending also on the locations.
We grouped Ikorodu into 3 different investing locations.

1). Main Central Areas (Ebutte, Agric-Owutu, Marwa/Coker Estates, Okeriya/Haruna/Benson, Solomade, Kokoro Abu, Sabo, Aga/Solebo, Ibeshe, Ota-ona etc). They command price between N8m-N15m and are mostly bought for commercial purpose because of high influx of population and infrastructural development already to some extent stamped in the axis. 80% of properties here are rented.

2). Sub Central Areas (Itamaga, Igbogbo, Erunwen, Odongunyan, Eyita/Ojokoro, Ewu-Elepe, Ijede, Majidun/Ogolonto, Agbede etc). Which command price between N3m-N10m. Some of them have some level of average infrastuctural development and some has nothing despite the influx of population associated to the axis too. Renting in this axis is averagely common as owing.

3). The Outskirt/New Sites (Agbowa, Agura-Gberigbe, Imota, Igbe, Bayeku, Oofin, Isiwu, Oke-imuti, Odo-kekere, fakale, mawere, ipoyenwa etc). They sold a plot of land for between N300k-N3m in this axis of Ikorodu. They have no infrastructural development and yet influx of people is a little bit average too there. They are mostly residentail properties where rented house are not common cos people bought land in them to keep for future reasons and also many bought it and develop to live in and thereby ending payment of unreasonable sum in rented houses.

Mostly to invest in Ikorodu of these days has been majorly about the low income earners who fall in category (3). That have solely solved the foreseen accommodation problem by helping to realise dream of a happy home. At times in less than a week, N300k can be blowned away with nothing to benefit or show for it. But this cash will buy land for future purposes and you derive the value for the money anytime anyday.
You might not live there immediately you purchase the land because it's still going to be a new site you have purchased from. But you would have done your 4corner boundary or beta still add a foundation to secure the land. And with that asides from your status changing to a landowner, you would have invested rightfully well in your future.
Locations in category (3) also has an urge futuristic value because of mile12 market relocation to imota though not certain when, construction of 4th mainland bridge also not certain when, huge presence of redemption camp etc all around this category (3) axis.
Only time will tell what the real estate market sums behold in this axis in near future.
Most areas in category (A) has same market value as obtained in some areas in Lagos areas such as Ketu, Ojota, Bariga, Shomolu, Mushin. Though there are highbrows in these areas too like Ikosi(Ketu), Fola Agoro(Shomolu), Papa Ajao(Mushin). It's advisable that if one can invest in these areas just listed, then an investment in that category (A) is of equal market value.
Ikorodu of these days no doubt is becoming one of the best location in the new Lagos and we ain't seen anything yet.
The present administration has mentioned of totally urbanising this axis with other Lagos suburb. And I finally add that your hard earned money is advisable and profitable to be channelled into real estate investment in Ikorodu because of its nature to yields maximum return and futuristic value.

Article written by Kayode Richard (Real Estate Consultant) Of Richykay Properties.
Office Ads. 36/38 Ireakari Estate Road, Isolo Lagos.
Contact. 09136239361/08057076148
Email. Richykay2005@gmail.com

Nice writeup

Ice

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Kayrich:
INVESTING REAL ESTATE IN IKORODU BY KAYODE RICHARD

Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water etc. It's an interest vested in an item of real property, (more generally) buildings or housing.
Also the business of real estate is the profession of buying, selling, or renting land, buildings or housing.
Investment in real estate is in the best interest of buyers and investors in order to foster peaceful living and guarantee high returns.
Ikorodu, the study area is a peri-urban and local government area in Lagos State, located along the Lagos Lagoon. Before now, not many investors and home buyers like to opt for Ikorodu property market because of the constant traffic jam on that axis. That jinx has about 5years back been broken with the existence of Mile12 - Ikorodu BRT Road which has now open up the axis and lead to a rush and hustle for accommodation in Ikorodu.
Still the focus of Lagos State government for development and urbanisation still remains in Epe, Badagry and Ikorodu and that's why Ikorodu is still very near ahead to witness a massive development in its urbanisation.
Investing in this Ikorodu real estate is contending that the axis is one of the viable real estate investment markets in Lagos mainland area considering its vast land mass, natural terrain and topography for high net-worth individuals. Also a central and strategically located business hub good for relaxation, leisure and domestication. So investors are guaranteed quick appreciation of property value.

How does this work?
Depending on your income, a plot of land is as high as N10m-N15m and it's also as low as N300k-N500k depending also on the locations.
We grouped Ikorodu into 3 different investing locations.

1). Main Central Areas (Ebutte, Agric-Owutu, Marwa/Coker Estates, Okeriya/Haruna/Benson, Solomade, Kokoro Abu, Sabo, Aga/Solebo, Ibeshe, Ota-ona etc). They command price between N8m-N15m and are mostly bought for commercial purpose because of high influx of population and infrastructural development already to some extent stamped in the axis. 80% of properties here are rented.

2). Sub Central Areas (Itamaga, Igbogbo, Erunwen, Odongunyan, Eyita/Ojokoro, Ewu-Elepe, Ijede, Majidun/Ogolonto, Agbede etc). Which command price between N3m-N10m. Some of them have some level of average infrastuctural development and some has nothing despite the influx of population associated to the axis too. Renting in this axis is averagely common as owing.

3). The Outskirt/New Sites (Agbowa, Agura-Gberigbe, Imota, Igbe, Bayeku, Oofin, Isiwu, Oke-imuti, Odo-kekere, fakale, mawere, ipoyenwa etc). They sold a plot of land for between N300k-N3m in this axis of Ikorodu. They have no infrastructural development and yet influx of people is a little bit average too there. They are mostly residentail properties where rented house are not common cos people bought land in them to keep for future reasons and also many bought it and develop to live in and thereby ending payment of unreasonable sum in rented houses.

Mostly to invest in Ikorodu of these days has been majorly about the low income earners who fall in category (3). That have solely solved the foreseen accommodation problem by helping to realise dream of a happy home. At times in less than a week, N300k can be blowned away with nothing to benefit or show for it. But this cash will buy land for future purposes and you derive the value for the money anytime anyday.
You might not live there immediately you purchase the land because it's still going to be a new site you have purchased from. But you would have done your 4corner boundary or beta still add a foundation to secure the land. And with that asides from your status changing to a landowner, you would have invested rightfully well in your future.
Locations in category (3) also has an urge futuristic value because of mile12 market relocation to imota though not certain when, construction of 4th mainland bridge also not certain when, huge presence of redemption camp etc all around this category (3) axis.
Only time will tell what the real estate market sums behold in this axis in near future.
Most areas in category (A) has same market value as obtained in some areas in Lagos areas such as Ketu, Ojota, Bariga, Shomolu, Mushin. Though there are highbrows in these areas too like Ikosi(Ketu), Fola Agoro(Shomolu), Papa Ajao(Mushin). It's advisable that if one can invest in these areas just listed, then an investment in that category (A) is of equal market value.
Ikorodu of these days no doubt is becoming one of the best location in the new Lagos and we ain't seen anything yet.
The present administration has mentioned of totally urbanising this axis with other Lagos suburb. And I finally add that your hard earned money is advisable and profitable to be channelled into real estate investment in Ikorodu because of its nature to yields maximum return and futuristic value.

Article written by Kayode Richard (Real Estate Consultant) Of Richykay Properties.
Office Ads. 36/38 Ireakari Estate Road, Isolo Lagos.
Contact. 09136239361/08024559706/08057076148
Email. Richykay2005@gmail.com

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