Lagos is a city of movement, ambition, and, most importantly, real estate appreciation. Over the past decade, the property market in Lagos has undergone significant changes, transforming from relatively affordable plots into a highly competitive, premium investment space.
If you’ve ever heard someone say, “I should have bought that land when it was still cheap!”, you’re not alone. Lagos real estate has consistently proven to be one of the best long-term investments, rewarding those who act fast and punishing those who hesitate.
So, what can we learn from 10 years of Lagos property prices, and how should investors position themselves today? Let’s dive in.
1. Land Prices Only Move in One Direction—Up!
If you look at property prices in Lagos over the last decade, one pattern is clear: prices increase, and they don’t come back down. The longer you wait, the more expensive real estate becomes.
Case Study: Ibeju-Lekki
• 2013: A plot of land in Ibeju-Lekki (before the Lekki Free Trade Zone became a major development hub) sold for as low as ₦500,000 – ₦1.5M.
• 2018: Prices jumped to ₦5M – ₦10M as major infrastructure projects like the Dangote Refinery and Deep Seaport took shape.
• 2023: The same land now sells for ₦25M – ₦40M, and prices are still climbing.
Waiting does not mean prices will stay the same—it means you’ll pay more later. If you had bought in 2013, your land would be worth 40 times more today!
2. Infrastructure Drives Property Value
The fastest-growing real estate zones in Lagos all have one thing in common: massive infrastructure projects that attract businesses and residents.
Key Developments That Have Transformed Property Prices:
• Lekki Free Trade Zone → Pushed Ibeju-Lekki prices up exponentially.
• Eko Atlantic City → Increased land values in Victoria Island & Oniru.
• Dangote Refinery → Brought commercial and residential value to surrounding areas.
• Lekki-Epe Expressway Expansion → Opened up new investment hotspots along the corridor.
If you want to invest smartly, buy land where big projects are happening. MegaOne, for example, is located along the Lekki-Epe Expressway, one of the most promising real estate corridors in Lagos. Buying now means you’re positioning yourself for massive returns in the coming years.
3. Pre-Launch Prices Are Golden Opportunities
One of the biggest mistakes investors make is waiting until a development is fully established before buying. By then, prices are at a premium.
Example: Land Prices in Lekki Phase 1 & Eko Atlantic
• In 2005, plots in Lekki Phase 1 were selling for ₦10M – ₦15M.
• Today, the same plots are worth over ₦400M – ₦500M!
• Eko Atlantic land prices were ₦50M per plot in the early 2010s—now, they sell for over ₦400M.
Pre-launch and early-bird prices are the best way to buy real estate at the lowest possible price. Those who invested early made 10X, 20X, or even 50X returns.
If you see a real estate project in a developing area at a discounted rate, that’s your sign to buy. Waiting until everything is fully developed will cost you millions more.
4. Lagos Landlords Win Every Time
Let’s talk about rentals. While land appreciates over time, rental prices also increase annually and tenants pay the price.
Lagos Rent Inflation Over 10 Years
• 2013: A 2-bedroom apartment in Lekki rented for ₦800K – ₦1.2M per year.
• 2023: The same 2-bedroom apartment costs ₦3M – ₦5M per year.
• 2024 & Beyond: With housing demand increasing, expect rent prices to keep rising.
Owning property not only helps you avoid rent hikes but also turns you into a passive income earner.
If you invest in land today, you can either develop it later and rent it out or resell it at a much higher price. Either way, you’re making money while others are spending more on rent.
How to Position Yourself for the Next 10 Years
1. Invest in locations with upcoming infrastructure (Lekki-Epe Expressway, Epe, Ibeju-Lekki).
2. Buy at pre-launch or early-stage pricing before developments drive up value.
3. Think long-term, land is not a short-term flip; it’s a wealth-building strategy.
4. Avoid the rent trap, owning land means controlling your future.
The biggest mistake investors make is waiting until prices are high before realizing they should have bought earlier.
MegaOne is one of the fastest-growing land investments in Lagos, located along the Lekki-Epe Expressway, a corridor that’s set to be the next big real estate hub. If you’ve been waiting for the right time, this is it.
Send us a DM now to secure your plot before prices go up again!