Where to Buy Property in Nigeria
Where to Buy Property in Nigeria (Top Growth Locations)
For Investment & High Appreciation:
1. Lagos
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Ibeju-Lekki: Fastest-growing area, with key developments like the Lekki Deep Sea Port, Dangote Refinery, and Lekki Free Trade Zone.
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Epe: Still relatively affordable with future appreciation potential as infrastructure improves.
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Ajah & Sangotedo: Midway between affordability and access; lots of estate developments.
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Ikoyi & Lekki Phase 1: Premium zones for luxury property or short-let/Airbnb income.
2. Abuja
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Lugbe, Kuje, Gwarinpa Extension, Lokogoma: Affordable and fast-developing areas.
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Maitama, Asokoro, Wuse: High-end areas (expensive but stable for rental income).
3. Port Harcourt
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Obio-Akpor, Rumuodara, Eneka: Developing suburbs with growing housing demand.
4. Ibadan
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Moniya, Akobo, Oluyole Extension: Relatively low cost with growing real estate interest.
5. Enugu & Asaba
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Good for diaspora buyers looking to invest in hometowns or rental income.
How to Analyze a Property Deal in Nigeria
Key Due Diligence Checklist
| Criteria | What to Check |
|---|---|
| Title Documents | C of O, Deed of Assignment, Survey Plan, etc. |
| Land Zoning | Is it residential, commercial, or government-acquired? |
| Topography | Is it dry land, swampy, or reclaimed land? |
| Neighborhood Growth | Are roads, schools, markets, and estates nearby? |
| Developer Reputation | Look into reviews and completed projects. |
| Security | Is the area safe, with low crime and good access? |
| ROI Potential | Estimate rental yield (4–8%/year in urban areas). |
Simple ROI Estimation Formula
ROI (%) = (Annual Rental Income / Total Cost of Property) × 100
Example:
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Property cost = ?25 million
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Rental income = ?2 million/year
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ROI = (2M / 25M) × 100 = 8%
Pro Tips
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Buy from verified developers like Landwey, Adron Homes, or PWAN (but still verify).
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Avoid Omo Onile drama by checking land title and using lawyers.
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Inspect physically or send someone you trust.
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Consider installment payment plans if cash is tight.
