Reports have it that we are running out of land. This evident from overpopulation around the world and Nigeria in particular; with every passing year, empty lands are becoming more and more limited. This goes on to suggest that it is high time to get a plot of land somewhere. The question that now arises is where the best place to acquire plot is. One destination that has proven to be a perfect place for this venture is Lagos. In this article, we will be looking at a few reasons why buying plot in Lagos is a great idea.
Why you should Buy Plot in Lagos
High Level of Urbanization
Lagos is one state in the country that has registered an overwhelming rate of urbanization. Like any urban destination, there are loads of opportunities to help people lead a better life. Evident in this city are lots of social facilities such as educational centers, health facilities, social services, and so on. You will agree with me that these facilities are essential for the development and healthy being of a population.
High Return on Investment
This is one benefit that becomes relevant when buying a plot for real estate purposes. Generally speaking, one investment that has proven monumental, with the potential for a high return on investment is Real Estate in Lagos, and this is not less true when done in a place like Lagos state. To start with, Lagos is top on list of busiest economics cities in Africa and even the world at large. A plot of land purchased today will be worth a bigger deal tomorrow. For example, a plot of land as 2000 on the island was worth six (6) million naira per plot, but that same plot of land today is worth a whooping sum of nothing less than a Hundred and Fifty (150) million naira. That is huge!
High Level of Security
Lagos is one state in Nigeria that can boast of a very organized security force. It has been reported that the state government have invested billions of naira in boosting security level in the state. From the acquisition of resources such as Helicopters, Armored Tanks, brand new Hilux Vehicles, and Motor Bikes, the government is doing all it can to make sure that the state is secured enough as expected from a mega economic city.
Socio Economic Potential
According to the United Nation statistics, Lagos boasts of a tremendous reach of 21 million people, and this estimate makes it the largest city and also Africa’s commercial capital. This same city also generates more that 25% of the Gross Domestic Product (GDP) of Nigeria. It provides massive and attractive investment opportunities in the entertainment industry, hospitality industry, real estate industry etc. Who wouldn’t love to build a home in such a destination?
Better Network Connectivity
You will agree with me that there exist states that when you travel around, you get an impression that you are heading on an inter-state journey as a result of its poorly constructed or bad road network. This is not the case with Lagos. The state government has no doubt put in a lot of investments in ensuring top tier road network connectivity. This translates into better roads. An obvious example is the emergence of the fourth Mainland Bridge in the pipeline.
No doubt, purchasing plots in Nigeria as a whole and Lagos in particular can be frustrating; but in the end it is rewarding. All you need to do is ensure that you carry out your due diligence by getting armed with the right information.