In comparison to other notable places like Ikoyi, Victoria Island, Banana Island and Lekki, Ibeju Lekki has all the potentials of becoming an investor haven. In the 70’s for instance, a plot of land in Ikoyi was sold for N2 Million, but the current rate is as high as N300 Million.
The smart investors who acquired land in Ikoyi then, are now reaping huge dividends on their investments. The case of Victoria Island is similar, as far back as the 80’s a plot of land was sold for N5 Million, but today, same dimension of land is sold for as high as N150 Million.
Lekki phase one was seen as a potential location for investors in the 90’s and few investors risked their hard-earned cash on acquiring land in the fast-growing location back then. A plot of land then was sold for N2 Million, but today, same plot of land is as high as N100 Million and above. Smart investors took advantage when these locations didn’t attract any international project at that time. Their incisive decision soon paid off as they made over 500% profit on their initial investment after just a few years.
Certificate of Occupancy (C of O) and other legal issues
One of the advantages of acquiring land in Ibeju Lekki, is that one can get to buy from reputable Real Estate companies like Christal Homes, who has acquired massive plots of land within the Ibeju Lekki zone. What makes it even more interesting is that once payments are made, the C of O documents and the deed of ownership as well as other relevant documents are issued to the purchaser.
It is worthy to note that mortgage refinancing is also available for those who qualify for such facilities and this option is very attractive and less burdensome for those who can’t make bulk payment.
The standard dimension for most lands in Lagos state is 120 by 60. The average plot of land goes from N18 Million and above depending on how close they are to the ‘International business hubs’ cropping up all over Ibeju Lekki.
It is important to note that land acquisition is based on the potential for future development and the proximity to areas where access to basic infrastructure can be easily deployed.
Today, the number of international projects already lined up to commence in Ibeju Lekki, makes it viable for investors to acquire. These projects are;
- Dangote Refinery
- Lekki Free trade Zone
- Lekki Epe International airport
- Dangote private jetty
- Lekki sea port
- Pan African University
On a final note, I will suggest one patronizes a reputable Property/real estate company to ease or lower the risk level. This will also afford the individual various refinance options and ensure all documents are genuine and free of encumbrances.
Christal Homes has proven to be credible over the years and has a database of over 1000 notable customers. Don’t hesitate to do business with us today.