The Lagos real estate market is notorious for its overpriced assets, with properties in areas like Ikoyi and Magodo often commanding exorbitant prices. While these locations are prestigious, the cost of acquiring land or building can significantly outweigh the potential returns, especially in an inflationary economy.
For example, a 500 sqm plot in Ikoyi sells for as much as ₦800 million, while in Magodo, it costs around ₦100 million. Despite their appeal, the return on investment (ROI) in these locations can be slow due to high maintenance costs and limited rental yield compared to the initial capital outlay. Investors often find themselves locked into long payback periods or struggling to resell properties at competitive prices.
This is where the Lekki Free Trade Zone (LFTZ) becomes a game-changer. Strategically located near the Dangote Refinery, Lekki Deep Sea Port, and other major infrastructure projects, the LFTZ offers unparalleled growth potential. Land prices in the zone are still relatively affordable, with plots ranging from ₦25 million to ₦60 million, depending on proximity to key developments. The potential for appreciation is enormous, with demand driven by industrial, commercial, and residential activities.
At Heritage Homes, we focus on providing secure, affordable, and high-potential investment opportunities, such as our Coastview Meadows Apartments near the Lekki Free Trade Zone. Unlike overpriced assets in Magodo or Ikoyi, our properties offer significant ROI and a faster payback period.
Contact us today to secure a smarter, more profitable investment in Lagos real estate!