Why You Should Invest in Ofada Owode Real Estate Market

Would you like to learn why you should invest in the Ofada Owode real estate market and enjoy a high ROI? We are here to help you.

Investing in Ofada Owode real estate is an exciting opportunity for anyone looking to tap into the growing potential of Ogun State. Located just outside Lagos, Ofada Owode has become a prime destination for real estate investment, offering affordable land and great long-term prospects.

If you’re wondering about the cost of land in Ofada Owode or why it’s an attractive option, read on to discover the key reasons why you should invest in the area today.

Key Reasons to Invest in Ofada Owode Real Estate

Ofada Owode is emerging as a sought-after investment hub due to its unique combination of proximity to Lagos, infrastructure development, and growing commercial appeal. Here are the primary factors that make it a top choice for real estate investors.

1. Strong Economic Growth and Multinational Presence

Ofada Owode benefits from its proximity to major multinational companies, such as Nestlé’s West African factory. Located within a 5-kilometer radius, these companies contribute significantly to the area’s economic development. As businesses continue to expand, real estate demand increases, making it an attractive market for investors.

2. Ongoing Infrastructure Development

One of the primary reasons to invest in Ofada Owode is the ongoing infrastructure development. The Lagos-Ibadan Expressway expansion is improving connectivity in the region, making it easier for people to commute between Lagos and Ofada. Additionally, the Ogun State government is working on alternative routes, like the Berger-Akute-Mowe-Ofada road, which will further improve accessibility and make commuting stress-free.

3. Accessible Location Near Other Estates

Another factor contributing to the appeal of Ofada Owode is its proximity to well-established estates like Unilag Estate, Oakwood Estate, and Sherry-View Estate, all located within a 2-kilometer radius. This proximity to other thriving residential areas further increases the value of land in Ofada Owode, making it an ideal location for both residential and commercial investment.

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Factors Affecting Land Prices in Ofada Owode

When considering a real estate investment, understanding the factors that influence land prices is essential. Here are the key elements that determine the cost of land in Ofada Owode:

1. Location

The location of a property significantly affects its price. Land near major routes like the Lagos-Ibadan Expressway or the newly expanded Berger-Akute-Mowe-Ofada road tends to be more expensive. Proximity to multinational companies and established estates also drives up land prices in the area.

2. Land Size

Larger plots tend to attract higher prices, especially in areas with greater development potential. Investors often seek sizable plots for residential, commercial, or agricultural purposes, which drives up the demand and land prices.

3. Purpose of Investment

Land prices vary based on the intended use of the property. Residential plots in Ofada Owode are generally more affordable than commercial properties. However, commercial land, especially near multinational companies like Nestlé, commands higher prices due to its strategic location.

4. Available Amenities

The availability of basic infrastructure, such as roads, water, and electricity, can influence land prices. Ofada Owode is seeing improvements in infrastructure due to government investments, which have already started to increase property values.

5. Government Investments and Policies

Ogun State’s infrastructure initiatives, such as road upgrades and the expansion of alternate routes, are making it easier for investors to access the area. These developments create a favorable environment for real estate growth, making land prices more attractive.

Current Market Trends in Ofada Owode Real Estate

The real estate market in Ofada Owode is growing rapidly, driven by improved access to the area and increasing demand for both residential and commercial properties. Here’s a snapshot of the market trends:

1. Growing Real Estate Interest

With its proximity to Lagos and ongoing infrastructure development, Ofada Owode is becoming a hotspot for people seeking affordable housing options outside the bustling city. The ongoing expansion of roads like the Lagos-Ibadan Expressway and the Berger-Akute-Mowe-Ofada road has made the area more accessible, resulting in heightened real estate interest.

2. Price Ranges for Land in Ofada Owode

Land prices in Ofada Owode typically range between ₦600,000 and ₦2,000,000 per plot. The cost depends on the location, size, and purpose of the land. Residential plots tend to be on the lower end, while commercial plots, especially near major infrastructure developments, are priced higher.

3. Residential, Commercial, and Agricultural Land Prices

Residential Land: ₦600,000 to ₦1,500,000 per plot.
Commercial Land: ₦1,500,000 and above, especially for properties near multinational companies and major roads.
Agricultural Land: More affordable, with prices likely to rise as the area continues to develop.

4. Rising Land Prices

As the region develops and attracts more investors, land prices in Ofada Owode have steadily increased. This trend is expected to continue, making it a potentially lucrative area for early investors.

How to Buy Land in Ofada Owode

Purchasing land in Ofada Owode requires thorough research to ensure you make a secure and informed investment. Here’s a step-by-step guide to buying land in the area:

1. Conduct Research and Due Diligence

Before purchasing land, ensure you visit the site and check for any environmental factors, such as flooding risks. Assess the surrounding infrastructure and verify the title of the land. Make sure there are no legal disputes or encumbrances.

2. Work with Real Estate Professionals

Partner with reputable real estate agents and lawyers who are familiar with the local market. They can assist you in verifying land ownership and help guide you through the buying process, ensuring your transaction is legal and secure.

3. Ensure Proper Documentation

Ensure that all necessary documents are in place, such as the Certificate of Occupancy (CofO), survey plan, and Deed of Assignment. Verify that the land is free from government acquisition and any local disputes, such as “Omo-onile” issues.

4. Explore Payment Options

Many estates in Ofada Owode offer flexible payment plans, such as the option to pay an initial deposit and spread the balance over several months. Make sure to agree on payment terms before finalizing the purchase.

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Benefits of Investing in Ofada Owode Real Estate

When you invest in the real estate market in Ofada Owode, you will enjoy numerous advantages. This is particularly true if you are looking for affordable land with high growth potential. Here’s why all real estate investors in the diaspora are moving to purchase a property in Ofada Owode:

1. Rising Demand for Housing and Commercial Properties

As more people seek affordable housing outside of Lagos, Ofada Owode has seen growing demand for both residential and commercial spaces. The area’s growing popularity makes it an attractive option for real estate investors looking for high returns.

2. Government Infrastructure Initiatives

The ongoing expansion of the Lagos-Ibadan Expressway and alternate routes like Berger-Akute-Mowe-Ofada will make commuting between Lagos and Ofada Owode much more convenient. These infrastructure improvements are driving real estate growth in the area.

3. Strategic Location Near Lagos

Ofada Owode is within an hour’s drive from Lagos, making it an ideal location for people who work in the city but are seeking more affordable housing options. Its proximity to multinational companies and industrial hubs also makes it an attractive area for commercial investment.

4. Potential for High Returns

With the area’s rapid development and increasing popularity, early investors can expect significant returns on their investment. Both residential and commercial properties are in high demand, making Ofada Owode a prime real estate market.

5. No Disputes or Legal Issues

Ofada Owode offers genuine land, free from government acquisition and disputes with local claimants. This reduces the risks associated with land purchases, which can be a concern in other areas of Nigeria.

Ofada Owode real estate presents a wealth of opportunities for savvy investors. With its strategic location, ongoing infrastructure development, and growing demand for both residential and commercial properties, it’s clear why this area is poised for long-term growth. By conducting proper research and working with trusted professionals, you can secure valuable land in a region with excellent investment potential.

Do you wish to invest in the Ofada Owode real estate market? You can pay in installments or outrightly.

To explore any of our real estate investment packages like land banking, retirement plan, kids education investment plan, trade apprenticeship plan or if you want to purchase some plots where you will have residential or commercial buildings, send an email to us at info@affablehomes.com.ng or call +2349134056630.

Why You Should Invest in Ofada Owode Real Estate Market

Key Reasons to Invest in Ofada Owode Real Estate