Often, times when we talk about owning a a Land property, especially in Lagos, through purchase,some section of the society view it in the lens of profit by the seller only . However, contrary to this view, land remains an inevitable components of humanity. Without exaggerating, it won’t be out of place to equate the importance of land, to the importance of Air to humans. This is because In terms of similarity, both Land and Air are ordinarily natural gift of God to man, for maximum use. The only difference among this two very important creations lies on the qualifications for use and human ownership. While Air is an absolute free and possession of man, with no price attached,being an invisible product of creation,land on the contrary, though freely given by God, but through human legislation and regulations , now posses, a price tag which qualifies ownership and habitation.
However, aside the regulated space of possession through price attachment and purchase, every human, both living and dead at every point of existence live on a land. In a nutshell, everyone who lives in time and space uses and benefits from the existentialism of land since no man lives in a Vacuum . This therefore further shows the values and importance of land to man.
Given the above argument, we shall delve into some major important uses of land, which serves to prove why, it should be acquired by all with a focus on Lagos, the economic hub of Nigeria and Sub-Saharan Africa.
Core Uses of Land in Lagos
Land is used to build or erect personal houses for individuals to live in and enjoy certain levels of comfort. This, no doubt is one of the most common uses of land. In Nigeria alone, there exists such countless number of Individual or Family houses, which accommodates, individuals and house-holds alike. Being able to build a personal or family house therefore requires one to own either by hereditary or by purchase of a piece of land without which the erecting of such structure (House/Home) would be highly impossible. This therefore forms one of the major uses of land in Lagos, Nigeria.
Land can be used to build house Apartments for commercial and Residential purposes. The issue of house rent, a predominant concern in Urban area, were it’s demand is always on the Increase with sky rocketing unregulated prices, especially in Lagos. Buying a land therefore, one can decide erect a building, for people to live in and pay a stipulated amount of money annually. House renting is one of the most lucrative means of wealth, accumulations and financial independence. In Lagos, the issue of house rent is a major concern for city dwellers due to upward increase in cost of house rent. This can be traced to many reasons , among which is the constant increase demand for available houses for people to live. Lagos with a contested population of about 14 and 24.6Million people living in the city according to United Nations authorities and the Lagos State Government 2015 Report respectively, this size of population is driven by a daily demand for Space(Land&Houses) for people to live and conveniently pursue their daily bread. So,imagine owning a land and you decide to build a house for letting ? you can predict the outcome of such Investment easily because the Return on Investment is hugely determine by the forces of demand and supply.
According to a BBC report in 2017, every weeks, ten of thousands arrive in Lagos from different locations of the most populous African State.
So, being one of few African Mega cities, the population of Lagos is growing on a terryfing rate and this means, a demand of more housing,as such any land bought and owned can be put into multiple uses that can result to multiple investments benefits. Beyond building houses for letting, such building level land space equally be put into other uses which generate quick and stable income. I.e
Land can be used to build houses for commercial purposes such as Office Spaces,Lock-Up Shops, Banks building, Hotels, Eateries, Gym Centers,Malls etc. This business entities operate in different spheres of products and services at the scale of Commercial, Wholesale and Retailer Goods and Services. Owning such building on a land and putting it out for commercial or business purposes in a place like Lagos, a globally renowned commercial nerver centre with with a daily population growth, implies huge and quick patronage from city dwellers.
Every business in Lagos is usually highly lucrative owning to the huge patronage from its population and economic activities there in. I. e a Land owner can chose to build a house for either hotels, short-let, annual rentage, or even decide to sell the building, but either way, clients are readily available for all choice.
Land and Houses buying and Selling characterize about 90%of Real Estate Activities in Lagos State as people strive to own either houses and land products ,primarily in other to enjoy the needed comfort with families and house holds after work stress as well as other financial investments benefits that accrue from such ownership. Buying and Selling of House and Land is a Lucrative Business in Nigerians Centre of Excellence with partcilants from both individuals organizations.
Buying or owning a land, anywhere in Lagos is never a waste. An individual might decide to purchase a land at very little cost, and then, re-sell same land land at higher price in the future at a price usually much higher than the purchase price. This is usually made possible through land appreciation which is many cases in Lagos is usually more than 300%. I. e Individuals and Organizations who cue in now and purchase one of the Land at Marple Gardens Estate, selling for 700,000 per plot,Prime Coast Estate selling for 800,000 per plot and Classic Royal Estate selling for 1.5Million per plot, Ventura Courts selling for 750,000 Per Plot, all located at Ibeju-lekki, a fast developing area of Lagos, can after purchase, decide to resell same land in the future. The key thing to note here, is that in a space of 5years maximum,same land selling at the above mentioned price would have appreciated in value and sold in much more higher price, with over 300%appreciation and Return on Investment for the owner.
The three Estate housing the said very affordable quality property is developed by SED properties Limited, a Lagos based leading Real Estate Company known all over for selling very affordadable quality land products. The company prides itself as a centre for affordable land products,hinged on a belief that; it is the right of every hardworking Nigerian citizen to own a land and enjoy the luxury there-in, hence they prioritiy of affordability as key to land acquisition.
Land Banking also known as Land investing (that’s right, buying and selling vacant land) is a massive opportunity that most investors always look out for.
Standing out as one of the oldest uses of land said to have originated in English Region, Land banking serves a reliable means of making low-priced land available for housing and ensuring orderly development, which yields massive wealth creation ,Comfort and Financial Independence. I. e The SED Land Banking Scheme is a Real Estate Investment that involves purchase of pre-developed land and holding it up-to 5years or more years for future with intense land appreciation and huge return on Investment.
Land Banking is one major uses of land,especially in Lagos, that often transmogrify ordinary people into a new class of billionaires and land owners through futuristic investments in Land products.
Individuals and organizations rather than rather than dump their cash in a Bank which can only earn them little interest yearly and other very unstable ventures,can decide for an alternative approach of acquiring a tangible fixed asset (Land) with a stable and predictable appreciative value.
So far, we have been able to define the meaning of land, with descriptive similarity of the underlying importance of land and Air as a natural gift of nature,being a creation of God. We further delved into common sensical uses of land, basing the analysis of such usage in Lagos, Nigeria with a clarion call on the need for you to acquire a land in Lagos, possibly taking advantage of the very rare opportunity provided by SED properties Limited in providing quality affordable land products for your purchase.
From the above elementary analysis, it becomes obvious,that the underlying importance of owning a land property in Lagos can not be over emphasized as it will serve a multiple purposes with positive returns.
I do hope that the next time you think and hear of buying a land in Lagos, you, now understand the implications and importance of such rewarding investment.