It’s more likely for land valued at N1m to be valued at N1.2m (capital appreciation of 20%) in say twelve months than for a N100m plot to move to N120m (the same 20%) in these times. This is because there are more people who can afford the N1m land than those who can afford the N100m plot. Besides those who can afford the latter plot also have wider choices. Because of this demand for lower priced property, our recommendation for our readers who are interested in investments that will yield higher capital appreciation is to look land below N3m.
In Lagos axis, this means such investors will be limited to three major areas: the Ibeju Lekki axis, Ikorodu Town and the Mowe/Ofada axis. While all have potentials for growth, based on our analysis above, we believe that the Ibeju Lekkki axis will outstrip the other two locations based on the investments of both the private and public sector in that area.
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