GROWTH DRIVERS IN THE PROPERTY MARKET

When I first moved to Lagos in 2019, prices of land per sqm in Lekki phase 1 was between 180-200k, periwinkle estate then was selling 220-240k.

Nicon town was like the most expensive around the Chevron axis selling at 240-280k.

Chevyview where I lived was 70-80k per sqm, I guess you dont believe. It's true.

I did a price intelligence survey for a company as at this time, I still have the report.

My first ever valuation assignment in banana Island gave a value around 450-500k per sqm, waterfront was 550k-600k.

Google prices in these neighborhoods today. They've all doubled some tripled.

What drove these prices through the sky?

I gave a short analysis of urbanization and population as drivers of growth in the Nigerian property market though I couldn't exhaust my thoughts for want of time you can still find this podcast informative.

Reach out personally for more consultation.

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Did you miss our previous article...
https://trendinginrealestate.com/home-remodeling-trends/2023-reality-check-good-time-to-invest-in-real-estate-india-development-debate