10 years ago, hotels in Lagos mainland and other similar places across Nigeria were just hotels. But that has changed in the last five years.
With the proliferation of shortlets and renovation of houses to match the aesthetics of the modern world, the value of real estate has gone up tremendously.In a similar way, infrastructure projects are reshaping real estate value across Nigerian cities, driving urban growth and boosting property demand.
The development of key infrastructure such as roads, bridges, railways, and power systems has a direct impact on property prices, especially in cities like Lagos, Abuja, and Port Harcourt.
Improved Access and Livability
Improved transportation networks, such as the Lagos-Ibadan expressway and the Abuja Light Rail, have made previously inaccessible areas more desirable and this has led to a surge in property prices. Better urban amenities like reliable power and sanitation systems also enhance livability, making properties in well-serviced areas more valuable.
New Growth Corridors
Major projects like the Lekki Free Trade Zone and the planned Lagos Fourth Mainland Bridge are creating new growth corridors, further reshaping real estate markets by driving up land and property values in previously underdeveloped areas. One such development is Bezoh Homes and Investments’ upcoming E31 Project, which is set to transform the Lekki County with its focus on affordable, functional, and sustainable housing.
This estate will feature secure, eco-friendly homes designed to foster community living while benefiting from the robust infrastructure of the area, including reliable power, drainage, and security systems.
Challenges of Infrastructure-Led Growth.
However, this growth isn’t without challenges. Uneven infrastructure distribution can increase regional inequalities, and rapid development may displace lower-income residents due to rising property costs.
Yet, companies like Bezoh Homes and Investments’ are stepping up to address this issue. With a mission to create homes for all, Bezoh’s developments are designed not only to meet immediate housing needs but to provide lasting value for residents, ensuring that they live in communities that thrive long into the future.
As a whole, infrastructure developments are changing the face of urban environments in Nigeria and opening up new chances for investors in the real estate industry.
Bezoh Homes and Investments’ is at the forefront of this transformation, leveraging key infrastructure developments to offer sustainable housing solutions that meet the growing demand.Founded in February 2023, the company recently announced the launch of their latest project, E31, slated for November 1, 2024.
As Lagos grapples with a staggering homelessness crisis, with estimates indicating that over 1.5 million residents lack adequate housing, Bezoh is stepping up to meet this challenge head-on.
For inquiries on how to invest in the booming real estate market and take advantage of these infrastructural shifts, contact us at info@bezohhomes.com or call 09139696172.
You can also visit our office at No. 4b Taiwo Ishola Street, off Chief Collins, Lekki Phase 1, Lagos State, Nigeria, or connect with us on social media: Instagram: @bezohhomes
Twitter: @bezohhomes
Facebook: BezohHomes
Website: www.bezohhomes.com
