How Lekki International Airport Will Impact Real Estate Investment in Epe

Would you like to know how the Lekki International Airport will affect the growth of the real estate sector in Epe? We are here to help you understand it.

In the real estate space, few things drive development like infrastructural expansion. You’d be surprised how a new road construction or major public transport project opens up an area. 

Before long, schools, markets, houses, and even plazas will suddenly sprout up in response to these new constructions. The ripple effects of such projects can completely transform a region, often making it more appealing for investors and homebuyers. 

Now, imagine the possibilities when you add an international airport into the mix. This is exactly what’s happening with the upcoming Lekki International Airport which is just a few kilometers from Epe. 

One of the most exciting aspects of the project is that it has the potential to impact real estate investments in Lagos state. Epe will enjoy a significant part of that impact. If you’re wondering how this article breaks down how Lekki International Airport will impact Epe in the near future. 

What You Should Know about Epe and The Lekki International Airport 

Where exactly is Epe? Epe is located in the southeastern part of Lagos State. By virtue of being a current real estate favorite, the town is now one of the fastest-growing towns in Nigeria. Today, what used to be known for being a farming village, is currently becoming an urban centre. 

Also, because it is quite close to Lekki, Epe is beginning to see more attention as more people buy land from there. With the addition of an International Airport close by, you can only imagine how much development this will bring to the town. 

According to speculation, the new airport will create a well-connected transit hub for travelers, businesses, and investors alike. One of the most important factors contributing to this transformation is the expected growth of key sectors such as tourism, business, and real estate development in the region.

The Lekki International Airport is part of the larger Lekki Free Trade Zone project, a massive development initiative aimed at making Lagos a hub for international business, trade, and tourism. 

With an expected capacity to handle over 5 million passengers annually and serve as a key gateway for international flights, we expect the airport to have a transformative impact on the entire region. 

As a result, we’re likely to see a boost in real estate demand as both commercial and residential properties become more desirable for people who want to live or work near the airport.

The Possible Impact of Lekki International Airport on Epe

Here are some of the major impacts the new airport will likely have on Epe. 

1. Increased Accessibility Will Make Epe a Go-to Area for Residential Properties

As the Lekki International Airport becomes operational, it will make Epe more accessible than ever. This is mostly because airports come with improved roads and bridges. 

With improved road networks, especially the ongoing construction of the Lekki-Epe Expressway, and the increased flight frequency brought on by the airport, it’s only a matter of time before Epe experiences a population boom.

At this time, many people who previously saw Epe as too far from Lagos will begin to see it as an affordable yet strategic location for residential properties. 

Imagine having the peace and serenity of suburban life with the convenience of quick access to a major international airport. This is a lifestyle many potential homebuyers will likely flock to, especially with Lagos continuing to face congestion challenges.

According to a 2023 report by the World Bank, Lagos state has consistently been one of the fastest-growing regions in terms of population and economic activities. 

In fact, the state’s population grew by 3.2% between 2022 and 2023, and it is expected to keep expanding, pushing many residents into the less crowded and more affordable neighboring areas like Epe. The availability of better infrastructure, such as the Lekki International Airport, will only accelerate this trend.

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2. Increase in Commercial Real Estate Opportunities in Epe

The arrival of the airport will not only increase demand for residential properties in Epe but will also spark a wave of commercial real estate investment. 

The airport, as a hub for tourism, and transport, will create opportunities for businesses to set up shop in Epe, catering to both local and international clientele.

You’d then begin to see commercial spaces, such as office buildings, retail centers, and warehouses, experience heightened demand. For instance, logistics companies that need to store or transport goods will flock to Epe due to its closeness to the airport. 

Similarly, hotels, restaurants, and other services catering to travelers and business professionals will be in high demand. All of this will push commercial real estate investments in the region to soar. 

With increased investment flowing into Epe, we can expect commercial real estate prices to rise as more businesses and corporations seek strategic locations around the airport.

3. New Townships and Urban Developments

The development of Epe into a more urbanized and cosmopolitan town is one of the more exciting long-term effects of the Lekki International Airport. 

Right now, developers are already eyeing the landmass around Epe for residential and mixed-use developments. Large-scale townships with modern facilities, such as parks, shopping malls, schools, and hospitals, are expected to spring up, further enhancing the area’s appeal to both investors and homebuyers.

Epe’s proximity to the airport could make it an attractive location for those working in Lagos but preferring the affordability and tranquility of suburban living. 

Real estate developers will be eager to meet this demand by building smart cities and modern communities equipped with all the conveniences of a bustling metropolis, without the congestion that plagues central Lagos.

4. Land Values in Epe Will Skyrocket

Do you know that one of the most obvious impacts of the Lekki International Airport on Epe will be the appreciation of land values? This is great news for real estate investors who do more land banking. 

Since the area is close to a major international airport, it will be a prime target for investment, especially as the airport nears completion. Investors, both local and international, are likely to buy up land now, anticipating its future value. 

Then, when the airport begins its operations, land prices in Epe will also increase substantially, making it a potential goldmine for early investors.

Ordinarily, average annual land price increases by a tangible percentage in areas surrounding infrastructural projects, such as new airports and highways. So such price surges are not a new occurrence. 

Given that the Lekki International Airport is expected to generate significant economic activity, we can safely predict that Epe’s land prices will follow a similar upward trajectory.

5. The Role of Government and Policy in Shaping Epe’s Real Estate Future

Government policies will play a major role in shaping the future of real estate investments in Epe. 

If the Lagos State government continues to focus on expanding and improving infrastructure in the region, such as the construction of more roads, public services, and utilities, Epe will become increasingly attractive for both residential and commercial real estate investors. 

The key to long-term success for investors will be to stay ahead of government planning. If you are a real estate investor planning to buy land in Epe, you need to pay attention. You need to understand where and when infrastructure improvements are happening. So you can position yourself accordingly.

6. Infrastructure and Economic Growth Will Attract Other Sectors

While real estate is one of the most obvious sectors that will benefit from the Lekki International Airport, it’s good to remember that economic growth attracts a wide range of other industries. 

For instance, the rise in tourism, brought about by the airport, will create opportunities for restaurants, entertainment centers, and retail businesses. 

Similarly, as the economy of Epe improves, sectors like education, healthcare, and banking will also see growth, offering even more opportunities for investors to diversify.

Thankfully, the Lekki International Airport is not just a short-term boost for the Epe real estate market. As the airport continues to operate and attract more investment into the region, the town’s real estate market will evolve into a high-demand market with long-term prospects. 

Investors who secure prime real estate properties now stand to gain significant returns in the coming years. As the area matures and its infrastructure improves, early investors will be smiling to the bank.

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The Future Looks Bright for Epe Real Estate

Going by the trends and the ROI that many Epe land owners have made already, we can summarize that the Lekki International Airport is a key driver for real estate investment in Epe. 

The airport will act as a catalyst, spurring development and providing new opportunities for investors who are smart enough to see the potential early on.

As always, the code to success in real estate is foresight and timing. Epe is on the verge of a major transformation. Do you know what? The Lekki International Airport is at the heart of it all. Investors who are keen to capitalize on this growth can expect rewarding returns. This is because the area is going to evolve into a major economic and residential hub.

Are you ready to take advantage of the opportunities that the Lekki International Airport will bring to Epe’s real estate market? Keep your eyes on this market, and don’t miss the chance to be a part of its bright future.