When it comes to real estate investment in Nigeria, Lagos is one of the most expensive cities to purchase land or a completed apartment. The high cost of property in Lagos is due to various factors that contribute to the overall price tag of buying a home in Nigeria's commercial city. In this article, we'll explore some of the key factors that make Lagos a costly real estate market, and what you can do to mitigate these costs.

It's worth mentioning that Lagos is the smallest state in the country geographically, with an area of only 3,345 square kilometers. However, it's also the most populated, which adds to the area's high demand and cost of real estate. In this article, we'll explore some tips on navigating the Lagos real estate market and securing the best deal possible.

Most Expensive Places to Buy Land in Lagos, Nigeria

Are you ready to invest in a plot of land among Nigeria's elite billionaires and lavish artistes? While it's an exciting prospect, it's important to take cautionary measures to avoid falling victim to land scams in Lagos. However, if you're prepared to invest the necessary millions, you'll gain access to some of the most luxurious and sought-after locations in the city.
Whether you're a seasoned investor or a first-time buyer, this guide will help you navigate the high-end Lagos real estate market with confidence.

Eko Atlantic:

Eko Atlantic Tops the List with $4,000+ Per Square Meter"
When it comes to high-end real estate in Lagos, Eko Atlantic is at the top of the list. This innovative, man-made city boasts some of the most advanced technology and cutting-edge design in the world, which is reflected in its sky-high price tag. Investors looking to purchase land in Eko Atlantic should be prepared to spend over $4,000 per square meter to secure their place in this exclusive community.
The Eko Atlantic City project was born out of a desire to reclaim land on the shores of Victoria Island, pushing back the water of Bar Beach to create a world-class neighbourhood. The result is a truly unique and innovative city that's unlike anything else in Lagos.

Banana Island:

If you're looking for a prestigious neighbourhood synonymous with wealth and affluence, look no further than Banana Island. Located in the Ikoyi area of Lagos, this exclusive community is one of the most expensive places to buy land in the city. With its reputation for luxury and opulence, it's no surprise that Banana Island has become a prime destination for high-end real estate investors.
Almost everything in Banana Island comes with a hefty price tag, including land. Buyers can expect to spend as much as $1.8 million (NGN774 million at the official rate) just to secure a piece of land in this exclusive neighbourhood. But for those willing to invest, the potential rewards are enormous. Many of the area's current landowners are millionaires and billionaires, highlighting the immense investment potential of this high-end real estate destination.

Lekki:

If you're searching for a luxurious neighbourhood in Lagos, look no further than Lekki. With its high concentration of successful businessmen and women, business moguls, and celebrities from around the country, this area is known for its opulence and affluence. But with that luxury comes a hefty price tag, as land prices in Lekki can reach sky-high levels.
A 600SQM plot of land in Lekki can cost anywhere from NGN35 million to NGN50 million, depending on the location. But for those who are willing to invest, the rewards are enormous. Lekki is a sign of beauty and class in an orderly and secure environment, making it a highly sought-after destination for elite real estate investors.

Victoria Island:

Victoria Island is known as one of the most upscale residential and commercial areas in Lagos Island, and for good reason. This sophisticated neighbourhood is in a class of its own, home to wealthy businessmen and women, expatriates, and management professionals.
But it's not just the residents that make Victoria Island so special. This diplomatic centre is home to several foreign embassies and consulates in the country, further adding to the area's prestige and affluence.
However, with all of these luxuries comes a high price tag. The average cost of land on Victoria Island is an eye-watering ₦500,000 per square meter. For investors who are willing to take the plunge, the rewards can be enormous, but it's important to understand the unique challenges that come with investing in this exclusive market.

Ikeja GRA:

If you want to experience luxurious living in Lagos, Ikeja GRA is definitely a place to consider. It is a preferred location for many wealthy individuals who chose to settle on the Lagos mainland.
Living in Ikeja GRA comes at a high cost, with properties going for as much as NGN30 million or more. However, you get to enjoy serene and calm surroundings, good security, a stable electricity supply, well-paved roads, and other amenities that enhance the quality of living.

Maryland:

Maryland is an exquisite area in Lagos, despite being located in the heart of the State. This location benefits from its proximity to Ikeja, and as such, has become a preferred location for the wealthy class.
Maryland boasts of several premium estates that offer top-notch security and other amenities to enhance your quality of life. However, these come at a high cost, with a plot of land in Maryland priced at as high as ₦50,000,000.

Ikoyi:

Ikoyi is an upscale area in Lagos that is home to a large number of expatriates and wealthy Nigerians who value its prestige. The area boasts several premium estates such as Dolphin Estate and Parkview Estate.
If you are looking to purchase land in Ikoyi, be prepared to spend a considerable amount. The cost per square meter can be as high as ₦950,000, which can be worth it for those who can afford it. With well-paved roads and a sophisticated environment, Ikoyi provides a high-end living experience that is difficult to match.

Magodo:

Magodo is home to some of the most magnificent areas in the city, including the renowned Grenadines Homes Citiview Estate. This estate offers more than just luxury homes, with properties priced between N26,000,000 to N50,000,000.
The estate is well-equipped with top-notch infrastructure, including excellent security and proximity to the Alausa Secretariat. With the meticulous planning and organization of the estate, residents can enjoy a serene and peaceful environment that caters to their needs.

Ajah:

Ajah, situated outside Lagos city, has been attracting people who are willing to pay a huge amount to reside in the area. There are various high-paying organizations operating from Ajah, making it a desirable location.
If you are interested in buying a piece of land in Ajah, be ready to pay between NGN25,000,000 to NGN50,000,000. But, the investment will be worth it, as Ajah is considered one of the best neighbourhoods in Lagos.

Surulere:

Surulere, located in Lagos Mainland, is rapidly becoming an area where it's challenging to acquire new land. If you do find a plot, be prepared to shell out as much as NGN50 million Naira.
In summary, Lagos is an expensive city, and these locations are some of the most expensive areas to purchase land. However, investing in land in these areas is a wise decision, considering the rapid appreciation rate. Nonetheless, conducting due diligence before purchasing land in any of these locations is crucial. Verify the authenticity of land documents at the Alausa land registry to avoid falling prey to fraudsters who prey on unsuspecting real estate investors.

Source: www.vinesrealtyng.com

Buying landed property in Lagos, Nigeria is an excellent investment, but the down payment can be a challenge for many people. If you're in this situation, don't worry! In this article, Vines Realty explores several ways to raise funds for a down payment on landed property in Lagos, Nigeria. Whether you choose to save, sell assets, or take out a loan.

5 Ways to Secure Funds for a Down Payment on Landed Property in Lagos Nigeria

Many people face this challenge when trying to invest in real estate. However, with the right guidance from Vines Realty, securing the money you need is possible. we'll share five effective ways to secure funds for a down payment on landed property in Lagos, Nigeria. In this comprehensive guide, we'll explore various options, including government schemes, personal savings, and borrowing from friends and family, to help you fund your down payment on landed property in Lagos, Nigeria.

1. Personal savings

Personal savings is the first and most obvious way to fund a down payment on a property. If you've been saving up for a while, you may have enough money to cover the down payment. This is the best option because it doesn't involve taking out any loans or accumulating debt. If you don't have enough saved up, consider cutting back on expenses or finding ways to earn extra income to increase your savings.

2. Take advantage of government schemes

The Nigerian government has several schemes in place to help people buy homes. One such scheme is the National Housing Fund (NHF). The NHF is a government scheme that allows contributors to saving towards owning a home. Once you've saved up to a certain amount, you can apply for a loan to buy a house or land. Other schemes include the Lagos State Home Ownership Mortgage Scheme (Lagos HOMS) and the Federal Mortgage Bank of Nigeria (FMBN) housing loans.

3. Borrow from friends and family

Another option to consider is borrowing from friends and family. If you have relatives or friends who are willing to lend you money, you can use the funds to make a down payment on a property. However, it's important to have a written agreement in place outlining the terms of the loan, such as repayment schedule and interest rates.

4. Sell off assets

If you have assets such as a car, jewellery, or other valuable items, you can sell them to raise the funds needed for a down payment....
continue reading @source: www.vinesrealtyng.com/blog

In Conclusion,
Buying landed property in Lagos Nigeria is a smart investment, but it can be challenging to come up with the funds needed for a down payment. However, by utilizing the options listed above, you can raise the money you need to make your dream of owning property a reality with Vines Realty. Remember to carefully consider your options and choose the one that's best for you.

In Lagos, there are several real estate firms that offer both built-up homes and landed properties for middle to upper-class earners, and these firms are all competing for clients by offering packages that make their properties more affordable. Some of the most popular firms include Lagos New Town, Vines Realty, RevolutionPlus, Adron Homes, Merit Abode, Richfield Limited, and Greenville Estate.

The properties offered by these firms are located throughout Lagos, and some of the most popular areas include Lekki, Ajah axis, Ikorodu, Isheri North, and Epe.

Lekki, Ajah axis

For those interested in the Ajah axis, the areas that are rapidly developing and experiencing growth include Ibeju Lekki, Lakowe, Abijo, Awoyaya, Sangotedo, Ajah, Lekki Phase 2, Ikota, and other suburbs within the Lekki Peninsula. The cost of land at Almond Vines Phase 1, Ibeju-Lekki is N5 million for 600 sqm, and payments can be spread out for up to 12 months. At Okun Imedu, a plot of land costs between N1.8 million and N5 million, and they come with Approved titles.

Ikorodu

For those interested in Ikorodu, the land is relatively cheap in areas such as Ogijo, Imota, Ijede, Igbogbo, Imowonla, Igberigbe, Igbolomu, and Isawo. For instance, in Morekete, Igbogbo, a plot of land sells for between....

Continue reading @ https://www.vinesrealtyng.com/post/cheapest-place-to-buy-land-in-lagos

The Dangote Refinery is a highly anticipated project in Nigeria. Built by Dangote Industries, it is the largest single-train refinery in the world, with a capacity of 650,000 barrels per day. This massive project has been under construction for several years, and it is set to have a significant impact on the Nigerian economy and energy sector. Here are some key facts about the Dangote Refinery that you should know.

1. The Dangote oil and petrochemical refinery is a 650,000 BPD facility, making it the largest single-train oil refinery on the planet, the largest in Africa and the 7th largest in the world. It is capable of meeting the energy demands of both Nigeria and the entire continent of Africa.
2. Dangote announced plans to build the refinery in 2013, with an initial cost estimate of $9 billion. Construction began in 2016.
3. The refinery was originally intended to be built in the oil-producing state of Ondo, but due to a lack of political will from the Ondo State Government, Dangote moved the project to Lagos state, which also has oil.
4. The refinery and petrochemical plant are expected to generate $20 billion in revenue for Nigeria annually.
5. The refinery will reposition Nigeria as a global energy hub.
6. The refinery features the longest subsea gas pipeline in the world, with a length of 1100 km.
7. The refinery will generate electricity up to 12,000MW.
8. The refinery represents a $25 billion investment, the largest single investment carried out on the African continent by an individual and the most expensive industrial complex in Africa and perhaps the world.
9. The refinery will produce 50,000,000 litres (13,000,000 US gal) of Euro-V quality gasoline and 17,000,000 litres (4,500,000 US gal) of diesel daily, as well as aviation fuel and plastic products.
10. It will provide 135,000 permanent jobs and overall 300,000 direct and indirect jobs.

Bonus facts: https://www.vinesrealtyng.com/post/facts-about-dangote-refinery

The Dangote Refinery is a highly anticipated project in Nigeria. Built by Dangote Industries, it is the largest single-train refinery in the world, with a capacity of 650,000 barrels per day. This massive project has been under construction for several years, and it is set to have a significant impact on the Nigerian economy and energy sector. Here are some key facts about the Dangote Refinery that you should know.

1. The Dangote oil and petrochemical refinery is a 650,000 BPD facility, making it the largest single-train oil refinery on the planet, the largest in Africa and the 7th largest in the world. It is capable of meeting the energy demands of both Nigeria and the entire continent of Africa.
2. Dangote announced plans to build the refinery in 2013, with an initial cost estimate of $9 billion. Construction began in 2016.
3. The refinery was originally intended to be built in the oil-producing state of Ondo, but due to a lack of political will from the Ondo State Government, Dangote moved the project to Lagos state, which also has oil.
4. The refinery and petrochemical plant are expected to generate $20 billion in revenue for Nigeria annually.
5. The refinery will reposition Nigeria as a global energy hub.
6. The refinery features the longest subsea gas pipeline in the world, with a length of 1100 km.
7. The refinery will generate electricity up to 12,000MW.
8. The refinery represents a $25 billion investment, the largest single investment carried out on the African continent by an individual and the most expensive industrial complex in Africa and perhaps the world.
9. The refinery will produce 50,000,000 litres (13,000,000 US gal) of Euro-V quality gasoline and 17,000,000 litres (4,500,000 US gal) of diesel daily, as well as aviation fuel and plastic products.
10. It will provide 135,000 permanent jobs and overall 300,000 direct and indirect jobs.

Bonus facts: https://www.vinesrealtyng.com/post/facts-about-dangote-refinery

The Dangote Refinery is a highly anticipated project in Nigeria. Built by Dangote Industries, it is the largest single-train refinery in the world, with a capacity of 650,000 barrels per day. This massive project has been under construction for several years, and it is set to have a significant impact on the Nigerian economy and energy sector. Here are some key facts about the Dangote Refinery that you should know.

1. The Dangote oil and petrochemical refinery is a 650,000 BPD facility, making it the largest single-train oil refinery on the planet, the largest in Africa and the 7th largest in the world. It is capable of meeting the energy demands of both Nigeria and the entire continent of Africa.
2. Dangote announced plans to build the refinery in 2013, with an initial cost estimate of $9 billion. Construction began in 2016.
3. The refinery was originally intended to be built in the oil-producing state of Ondo, but due to a lack of political will from the Ondo State Government, Dangote moved the project to Lagos state, which also has oil.
4. The refinery and petrochemical plant are expected to generate $20 billion in revenue for Nigeria annually.
5. The refinery will reposition Nigeria as a global energy hub.
6. The refinery features the longest subsea gas pipeline in the world, with a length of 1100 km.
7. The refinery will generate electricity up to 12,000MW.
8. The refinery represents a $25 billion investment, the largest single investment carried out on the African continent by an individual and the most expensive industrial complex in Africa and perhaps the world.
9. The refinery will produce 50,000,000 litres (13,000,000 US gal) of Euro-V quality gasoline and 17,000,000 litres (4,500,000 US gal) of diesel daily, as well as aviation fuel and plastic products.
10. It will provide 135,000 permanent jobs and overall 300,000 direct and indirect jobs.

Bonus facts: https://www.vinesrealtyng.com/post/facts-about-dangote-refinery

Investing in real estate can be a lucrative and rewarding venture, particularly in a country like Nigeria with a growing economy and population. Nigeria is a vast and diverse country with a range of real estate investment opportunities, including residential, commercial, and industrial properties.

Before diving into the real estate market in Nigeria, it's important to understand the local market trends and conditions. Nigeria's real estate market has been on the rise in recent years, with strong demand for housing in major cities like Lagos, Abuja, and Port Harcourt. However, like any investment, real estate carries risks and it's important to do your due diligence before committing to a purchase.

One way to mitigate risk is to work with a reputable real estate company, agent, or broker who has a thorough understanding of the local market. They can help you identify potential investment opportunities and provide valuable insights and advice on what to look for when buying property.

Real estate investing in Nigeria can also be a great way to diversify your portfolio and generate passive income. Renting out a property can provide a steady stream of income, particularly if you can find a good tenant who pays on time and takes good care of the property.

Vines realty can help you simplify the complexity of real estate in Nigeria.

Invest in a landed property this holiday season. Located close to major developments like Dangote refinery, Lekki Seaport, Lekki free trade zone, and many more.
-
Visit the website: https://zcu.io/h2hv


https://www.youtube.com/watch?v=2BxDJghMlxA

Investing in real estate can be a lucrative and rewarding venture, particularly in a country like Nigeria with a growing economy and population. Nigeria is a vast and diverse country with a range of real estate investment opportunities, including residential, commercial, and industrial properties.

Before diving into the real estate market in Nigeria, it's important to understand the local market trends and conditions. Nigeria's real estate market has been on the rise in recent years, with strong demand for housing in major cities like Lagos, Abuja, and Port Harcourt. However, like any investment, real estate carries risks and it's important to do your due diligence before committing to a purchase.

One way to mitigate risk is to work with a reputable real estate company, agent, or broker who has a thorough understanding of the local market. They can help you identify potential investment opportunities and provide valuable insights and advice on what to look for when buying property.

Real estate investing in Nigeria can also be a great way to diversify your portfolio and generate passive income. Renting out a property can provide a steady stream of income, particularly if you can find a good tenant who pays on time and takes good care of the property.

Vines realty can help you simplify the complexity of real estate in Nigeria.

Invest in a landed property this holiday season. Located close to major developments like Dangote refinery, Lekki Seaport, Lekki free trade zone, and many more.
-
Visit the website: https://zcu.io/h2hv


https://www.youtube.com/watch?v=2BxDJghMlxA

Both Cryptocurrency and Real Estate have seen tremendous increases in the past five years, at the end of the day it depends on your knowledge of the industry, and the level of risk you are willing to take.

Go check out this blog to learn how to invest in real estate.

Source: https://www.vinesrealtyng.com/blog

Nigeria has been growing at an impressive rate over the past few years. The country is currently ranked as the sixth-largest economy in Africa and the seventh-largest in the world. It is also home to the most populous city in Africa, Lagos.

Find out what type of property you need.
Source: https://www.vinesrealtyng.com/blog

There are two main types of real estate investments in Nigeria: residential properties and commercial properties. Residential properties are usually apartments, houses, villas, etc. Commercial properties are offices, shops, warehouses, etc.

What Is Residential Property?

The most typical form of residential real estate is a single-family home, which is real property (land and any buildings on it) utilized for residential purposes. Those properties designated exclusively for commercial use are known as commercial real estate (apartment buildings, office buildings, hotels, etc.). Not that residential real estate can't make money, mind you. Residential property owners have two options: they either live in them and sell them for a profit when home values rise, or they can rent out their homes for passive income.

4 Examples of Residential Real Estate

In the residential market, there are a few typical categories of real estate.
Standalone houses: The most prevalent kind of residential real estate comprises single-family homes situated on their own lots of land.
Townhouses: Also known as townhomes, townhouses are independently owned, frequently multi-level homes that share one or two external walls with other properties.

Condominiums: A condominium (or condo) is an individually owned residential unit that is part of a community that includes other units, such as townhomes, high-rise structures, or a condo complex. Unlike apartments typically held by large corporations or property management firms, condos are frequently owned by an individual in joint sovereignty with a condo owners organization (COA).
Multi-family houses: Two- or four-unit residences, respectively, include duplexes and fourplexes as examples of multi-family homes.

An explanation of commercial property
Immovable property used for business is referred to as commercial property. Generally speaking, commercial property includes larger residential rental properties as well as buildings that house businesses and land that is meant to be profitable. The financing, tax treatment, and laws that apply to a property depend on whether it is classified as a commercial property.

Commercial Property Analysis
Shopping malls, grocers, office buildings, factories, and other businesses are all included in the definition of industrial land. Sales prices, new construction rates, and occupancy rates for commercial property are a few examples frequently used as proxies for business activity in a specific region or economy.

Comparing investing in residential versus commercial property
Historically, investors have viewed commercial real estate as a secure investment. Compared to residential real estate, the building's initial investment costs are much higher than the maintenance costs for tenants. However, the overall returns are higher, and dealing with a business and simple lease eliminates some of the typical issues that arise with residential tenants.

Research the market.
Before you buy any type of property, make sure you do some research into the local market. This will help you understand what kind of return you can expect on your investment. You should also consider how much money you need to put down as an initial deposit.

Business Consultant and Managing Director, of Vines Realty Afrique Limited, Udoh Oberaifo David, is delighted that their hard work of bringing digital innovation to the thriving real estate industry in Nigeria is finally being recognised.
“We are happy that our effort to bring digital innovations to The Real Estate industry in Nigeria has been recognized. We see this award as a challenge to do more in creating products and services that will empower the average Nigerian to own their own home and create wealth that will last for generations.”

Vines Realty Afrique Limited, which is referred to as one of the leading Real Estate Company in Nigeria was recently recognised as the Emerging Outstanding Real Estate Company of the year, 2022. The award which was presented to the company at the Real Estate Excellence Awards event, hosted by Beta Media Group.

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