Across the Nigerian State, real estate investment has become one of the top priorities among investors.
While Lagos has become one of the highest turnover states among investors.
Without a doubt, Lagos has witnessed a significant increase in its population over the past few decades.
By calculation, over 15 million estimated population.
That’s a lot of people…
For decades, real estate has been expensive in the Centre Of Excellence
Today, buying a house or land in Lagos or even renting is just a different experience than any other state in the country.
The reason is simple…
Nowadays, more people seek opportunities in Lagos, causing the property demand to continue to rise.
For this reason, let’s see why Lagos differs from other states in Nigeria for investment…
Lagos boasts of economic Prowess
When comparing Lagos’s real estate market to the rest of the country, the difference is obvious…
At the state level, no matter which metric you use, home prices are essentially double, and land prices are double or even triple as well.
This means, in Lagos City, prices are much higher.
And why?
According to Fitch ratings, Lagos’s diverse economy generates around 20% of Nigeria’s GDP, fuelled by public and private investment.
Meanwhile, the state’s economy is diversified, with key sectors like finance, manufacturing, real estate, entertainment and technology.
The presence of these numerous multinational corporations and financial institutions underscores Lagos’s status as the preferred destination for investors like you seeking lucrative opportunities.
Infrastructure Development
With the 4th wealthiest cities in Africa.
Lagos outshines other states on the continent.
That said…
One of the primary reasons why Lagos eclipses other Nigerian states for investment is its impressive infrastructure development.
For decades now, we have seen the state Government undertake extensive initiatives to enhance transportation, energy, telecommunication and social amenities.
A typical example is the proposed construction of the 700km Lagos-Calabar road, with an estimated budget of 15 trillion Naira.
However, this project is designed to connect Lagos to Cross River, linking through the coastal states of Ogun, Ondo, Delta, Edo, Bayelsa, Rivers and Akwa-Ibom.
This ongoing coastal road project promises to revolutionize public transportation, reducing congestion, improving connectivity, and creating a transport mode for businesses to succeed.
Conducive Business Environment
Due to its high rise in investment opportunities.
This led the government to actively promote business growth through policies that encourage investment, streamline regulatory processes, investor-friendly policies and robust legal framework.
Which has helped to streamline business processes and enhance transparency.
Supportive Policies
Lagos state has enacted various policies and incentives aimed at attracting investment across key sectors of the economy.
Over the years, the government has offered tax incentives, and waivers and stimulated economic growth.
However, the state government provide infrastructural support, including land allocation and access to utilities to investors seeking to establish or expand their operations in the state.
Due to this, these supportive policies create an enabling environment conducive to sustainable investment and business expansion.
Dynamic Skilled WorkForce
The state is a melting pot of cultures and ethnicities, attracting a vast pool of skilled professionals from across Nigeria and beyond.
However, this diverse talent pool offers investors access to a workforce equipped with a wide range of expertise.
From seasoned veterans in established industries to a wave of young, tech-savvy individuals.
In a nutshell, Lagos boasts a human capital resource that caters to the needs of any business.
So,
Make Every Opportunity Count