By Olukunle Morolani

A 5 bedroom detached house advertised in Castles magazine is on offer for N100m! While the figure is not out of place, considering that some are selling for N250m, the issue here is that the property is located in Gbagada phase 1. Surprised? Well that is what seems to be happening in Gbagada right now as property prices surpass what obtains in most parts of the mainland and are fast catching up with the upscale neighbourhoods of Lekki phase 1 where a 5 bedroom detached house is priced from about N90m to N120m. From a survey of advertised properties for sale in Castles over the last three weeks, four and five bedroom houses are being advertised at prices ranging from N70m and N100m in Gbagada Phases 1 & 2 and Medina estates axis.

Gbagada has always been a location of choice on the mainland, but recently it seems to be moving up the ladder. The area is mainly a residential neighbourhood but there is also a flourishing commercial/industrial part to it. Gbagada lies on both sides of the Oworonshoki –Oshodi expressway and comprises several sub-locations. But for the purpose of this write up, we will limit ourselves to Phase 1, Phase 2 and Medina estates. These are the most exclusive parts of Gbagada and where majority of the new luxury apartments are located.

Perhaps the main attraction here is the vantage location which it enjoys. Gbagada has quick accessibility to the Island via the third mainland bridge and the Mainland through Oworonshoki-Oshodi expressway that links Ikorodu road and Agege motor road. The journey from Gbagada to Marina on the Island takes about 25 minutes, and about 10 minutes to Maryland. Gbagada is a large community that is home to several business firms including branches of most financial institutions in the country. There are also quite a number of restaurants, schools and hospitals.

According to Mr Akintola of Easy Homes Limited, property prices in Gbagada are on the rise due to the increased demand placed on the area as a lot of people that ran away from the water logged parts of Lekki made their way to Gbagada. Also, for those who desire to live in an exclusive neighbourhood on the mainland but cannot afford Ikeja GRA, Gbagada is one of the alternatives that readily come to mind. He is also of the opinion that since the area is fully built up; prices naturally have to go up as there is very little supply to meet the high demand. Most of the land in Gbagada phases 1 and 2 is solid land, thereby making building on it easy. These locations also have the ambience of a highbrow area

From an investment point of view, Gbagada might be the next destination for investors as property prices have gone up by almost 70% within the last 18 months. A four bedroom semi-detached house which now sells for N75m in phase 1 (see table), had an asking price of N45m at the beginning of 2011. Likewise a 5 bedroom detached house as advertised by Easy Homes is available for sale at N100m, unlike the N70m price tag that a similar property had in March, 2011, an increase of 43% in just 12 months. This trend is likely to continue.

Rental prices are also flowing in the same direction. So, if your intention is to buy and rent out, you are still on the right track. 3 bedroom flats now rent for up to N1.5m and duplexes N2m unlike just a year ago when 3 bedroom flats were hovering between N800k and N1m

Gbagada has turned to the rich haven o!!! Rents for both new tenants and old are sky rocketting! :oWhere is a good area to buy property now without breaking the bank?

Depends on what you want

Gbagada is worth every penny you spend. I lived in phase1 before i travelled out and I can confidently tell you I'll still chose to live there again and again anytime I'm back to the country. In addition to being a serene and clean environment, it has NO issues with flooding, easy accessibility to wheresover you are heading because it's centrally located, quiet and peaceful. there was NEVER an issue with security . For anyone who can afford it, i'll encourage such a person to pay. Phase 2 is also as good as phase 1 & has lots of places for fun.

Gbagada remains next to none! IMO.

Robbers normally invade the place because its near the high way,ARe you syure of the security?

Pato, when did you live Naija? Gbagada is now traffik station, esp the Ifako parts, I live in Phase 1 too,it is fairly okay but more crowded than say 5 years ago. I want anywhere serene and quiet like Gbagada. Otedola Estate not bad, as for the Robbers, I have live here 7 years with no issues. GBAGADA IS SAFE!!

Iyabeji:

Pato, when did you live Naija? Gbagada is now traffik station, esp the Ifako parts, I live in Phase 1 too,it is fairly okay but more crowded than say 5 years ago. I want anywhere serene and quiet like Gbagada. Otedola Estate not bad, as for the Robbers, I have live here 7 years with no issues. GBAGADA IS SAFE!!

How much is the otedola estate selling?

they have two bedroom flats btw 15 - 20m, if you are lucky you get 12m

Iyabeji:

Pato, when did you live Naija? Gbagada is now traffik station, esp the Ifako parts, I live in Phase 1 too,it is fairly okay but more crowded than say 5 years ago. I want anywhere serene and quiet like Gbagada. Otedola Estate not bad, as for the Robbers, I have live here 7 years with no issues. GBAGADA IS SAFE!!

are you currently in phase 1? I was in mabinu - ph1 4yrs ago and lived there many yrs. i dont believe you that gbagada is now crowded. Gbagada can never be crowded. that place is freaking organised. the only thing that makes phase 1 crowded with socials at night time during weekends is wise ken [and every1 in phase 1 luvs wise ken joint.  . it's d social glamour of phase1. phase1 is quite smaller than phase 2. but both phases are organised and very SECURE. i'll chose Gbagada over any estate ANYTIME. look at the proximity to filling stations -AGipMobil, eatery-Biggs, Clubs,Banks e.t.c. the serene and quiet environment. decent peace luving people
. Adaranijo mkt is clean and close by, so, its everything at your door-step, even churches, e.t.c, yet tastefully neat , no flooding no matter how much it rains, instead, the neatly tared roads get cleaner.

NEVER HAD ISSUES WITH SECURITY FOR 1 DAY!

It's worth it - i recommend Gbagada without reservations.

Please come home soon! You might change your mind. Mind you, I love Gbagada too and would prefer to stay here over anywhere else in Lagos! Except I get gifted a house in Banana Island or VI!
Ciao

Please dont mind me o! How do you post a new topic here?

Iyabeji:


Please come home soon! You might change your mind. Mind you, I love Gbagada too and would prefer to stay here over anywhere else in Lagos! Except I get gifted a house in Banana Island or VI!
Ciao

i dey com soon o! if you have a good place in ph1 or 2 . pls holler me. i no mind at all. peace and security is paramount.

Iyabeji:

Please dont mind me o! How do you post a new topic here?

click on 'home' , then click on the section you want e.g 'property'

then scroll down to the page and click on 'new topic'

THANK YOU!!

a place for rent or to buy? when you are ready will send you agents!! risky discussing such over public places like this. god will not allow us lose money.

Three years have passed. Is Gbagada still alright?

Seun:
Three years have passed. Is Gbagada still alright?

You should ask the same question about Egbeda.

Seun:
Three years have passed. Is Gbagada still alright?

lol yes sure...thats where I stay baby.

7 years have passed. Is Gbagada still okay?

bfolorunso:
7 years have passed. Is Gbagada still okay?

Lol

9 years has passed. Is Gbagada a good place to rent a house?

10 Years Passed

11 years have passed, how is gbagada now? Is it still a nice place to stay?