EPE LAGOS: A GOOD REAL ESTATE INVESTMENT DESTINATION?

Recently, Epe Lagos has become the rave of the city of Lagos especially in the real estate sector. And this makes a lot of people ponder and wonder, “where the heck is Epe and what makes it so special?” Especially for the Nigerian diaspora community who may be looking out for a good developing hotspot to invest in real estate. We saw the importance of educating you on the economic prospect of this fast evolving city in Lagos.

Where is Epe?

Epe is a fast emerging economic city in the Lekki axis of Lagos, Nigeria. It is a town located on the Lekki Lagoon. It lies on the north bank of the coastal north side of Lagos Lagoon within the Ibeju-Lekki-Epe corridor and has road connections to the mainland of Lagos. Due to the proximity of Epe to Ijebu-Ode, this makes a lot of people ask “Is Epe in Lagos or Ogun State?” Well, Epe is not just a town in Lagos State, it is also a Local Government. Modern Epe has evolved beyond a collecting point for the export of fish, cocoa, palm produce and rubber. It has become an economically viable city attracting lots of foreign and local investors. The emergence of the Lekki Free Trade Zone, Alaro City, and the government’s commitment to building infrastructure and making it a massive industrial hub have triggered high optimism for investors.

Should I Invest in Epe Lagos?

This is a common question especially for real estate investors. After a thorough market survey of the economic prospects of Epe Lagos, we have developed these five pointers that would give you insight into this exciting investment destination hub.

1. Fast Developing Location

Lagos’ real estate can largely be categorised into three: the high-end market, the mid-tier market and the emerging market. Epe Lagos can be categorised as an emerging market in Lagos. Investing in the high-end market like Ikoyi, Victoria Island, Oniru and Lekki Phase 1, is quite capital intensive due to high value. The high-end market is a sweet spot for short let and Airbnb apartments too. It is a good place to own a valuable property. 

On the other hand, investing in emerging locations like Epe and Ibeju Lekki hold limitless returns on investment for early investors. Looking at the economic prospect of Epe lagos, investing in land for the long term is a decision that is worth considering. And 

2. Land Appreciation In Lagos.

According to the 2015 National Bureau of Statistics report, Lagos is estimated to experience 400-500% price increase in its real estate between 1998-2008. Which is probably the highest in the world for any developing city. The report further enlightened India and Russia at 282% and 209% respectively. This is a pointer to the economic viability of investing in real estate in Lagos, especially in the developing parts of the city.

As at early 2000s, plots in Lekki Phase 1 sold for as low as N2,000,000; currently, the same sells for N350,000,000 naira. We have also experienced fast appreciation on the Ajah axis too. Epe and Ibeju-Lekki are the new goldmine. Any investor who desires to tap into the fortune in developing locations should seek genuine opportunity in the Lekki – Epe corridor which our team of professionals can help you navigate.

3. Low Price Entry

Emerging cities have low price entry as a result, investors and individuals, with little capital requirement can own plots and acres of lands. Currently with as low as N900,000 – N5,000,000 – N20,000,000, you can own plots of land in Epe Lagos. Location, lifestyle (waterfront), use (residential, commercial and mix-use) and development are price determinants. We have affordable options for you at LekkiEpe, visit our emerging city category or speak with our team of professionals and you will have the best property that meets what you want.

4. Fast-paced Development

Years ago, it would take about an hour to drive from Eleko junction to Epe. At that time, we used to believe that Epe was too far. I fell victim to that too. Then, plots in Epe sold for as low as N200,000. But in 2021, the story changed; the Lagos State government embarked on a massive construction project of the Lekki-Epe Expressway which changed the whole narrative.

Since the completion of the Lekki-Epe Expressway, it now takes about 15minutes to drive down to Epe from Eleko junction. Since then, a lot of people have started seeing the economic viability of investing and owning properties in Epe. Development and infrastructure have a long history of triggering the value of properties and that’s what is happening in Epe.

5. Good Lifestyle and Quality Institution

Besides Epe becoming an economic hotspot, the good lifestyle is suitable for vacation. Epe Resort and Spa is a favourable vacation and relaxation destination in Lagos. When next you’re in Lagos, it’s a good and safe destination that will open you to the opportunities in Epe.

Also, the town also hosts high numbers of higher learning institutions like Polytechnics and Universities making it attractive for real estate investment. Some of the institutions Epe hosts are Yaba College of Technology, Augustine University, Michael Otedola College and Grace Poly.

Conclusion

Epe in the past year has gained its economic strength in tourism and fishing which have contributed immensely to the GDP and livelihood of the people of Lagos. As Lagos State continue to pay more attention to expanding the economic possibilities of Epe, with the recent completion of the Lekki-epe expressway, and the fast-paced industrialisation of the Epe corridors, with the Alaro City and Lekki Free Zone, Epe is becoming competitive and a top destination that every real estate investor should have in his portfolio.

Relatively, this is one axis of Lagos where properties (land and houses) are still very affordable and currently experiencing fast appreciation. The best time to own a piece of land in Epe Lekki is now. However, besides buying an affordable land or house, genuineness and good documentation, is key. The safety of your investment is important to us. That must never be compromised for anything else. That’s why our team of professional consultants and legal department are available to help you navigate this terrain with ease and success. Reach out to us for consultation and good investable opportunities. Your dream is possible. Be the hero, let’s be your guide.