In recent years, Ibeju-Lekki has transformed from a quiet rural stretch into a prime real estate destination in Nigeria. With mega infrastructural projects, corporate investments, and government-backed development plans, the demand for land has skyrocketed. However, a growing trend has emerged in 2025 — a sharp rise in resale plot values.
This article explores the factors driving this spike in resale land activity and what it means for investors, developers, and potential homeowners.
1. Infrastructural Developments Fuel Demand
The surge in resale plot values is largely driven by massive infrastructure in and around Ibeju-Lekki, such as:
- The Dangote Refinery: Africa’s largest oil refinery, now operational, attracts thousands of workers, engineers, and suppliers—driving demand for residential and commercial space.
- Lekki Deep Sea Port: The busiest port in Nigeria today, this project has made Ibeju-Lekki the new business frontier.
- Lekki Free Trade Zone (LFTZ): This tax-free zone has attracted multinational corporations, logistics firms, and manufacturing plants.
- New International Airport: The proposed Lekki-Epe International Airport is a game-changer for accessibility and investor confidence.
As more people move into the area, earlier land buyers are reselling plots at premium prices.
2. Scarcity of Original Plots
Most original lands sold directly from families and communities (Omo Onile) in Ibeju-Lekki are nearly exhausted. Genuine plots with titles like Excision, Gazette, and C of O are now primarily available as resale.
This limited supply has created a seller’s market where buyers are willing to pay significantly more for plots that are already:
- Cleared or sand-filled
- Fenced or gated
- With verifiable titles
3. Rise of Middle-Class Buyers and Speculators
Another factor contributing to the rise is the growing participation of middle-class Nigerians and diaspora investors. These groups often prefer buying resale plots to avoid the risk and delay associated with new estate developments.
Many prefer plots in already demarcated or semi-developed estates to:
- Start building immediately
- Flip the land quickly for profit
- Avoid the hassle of Omo Onile interference
This buyer behavior fuels competition and drives up prices.
4. Land Banking by Real Estate Firms
Top real estate developers in Lagos have been aggressively land banking across large sections of Ibeju-Lekki over the last 5–10 years. With estate launches now saturated, many of these firms are reselling portions of their holdings to:
- Generate immediate cash flow
- Focus on developed estate projects
- Meet rising demand
These resale plots are often in prime locations and carry higher perceived value, especially those near Eleko, Eleranigbe, Awoyaya, and Alatise.
5. Increased Title Documentation and Verification
Unlike a few years ago when many plots were sold with “hopeful” titles, most resale plots now come with:
- Registered Surveys
- Deeds of Assignment
- Government-Approved Layouts
- Certificate of Occupancy or Governor’s Consent
This has increased buyer confidence, reduced litigation risk, and naturally pushed prices upward. People are more willing to pay higher for secure and verified resale plots.
6. Urgency to Build Due to Inflation
With building material costs rising monthly, many landowners are under pressure to either:
- Build immediately
- Sell off their plots to raise capital
This urgency has made resale plots with partial or full fencing, sand-filling, or foundation structures more attractive to new buyers looking to save on future development costs.
7. Easier Access Through Road Projects
The completed and ongoing expansion of the Lekki-Epe Expressway, coupled with road projects linking communities like Sangotedo, Eleko, and Orimedu, has made transportation easier and property more accessible.
Areas once considered “too far” or “too rural” are now well-connected, turning old land purchases into goldmines.
8. Shift in Developer Strategy
Many real estate firms now prefer plot resales to estate launches because:
- Resales have higher margins per plot
- No need for bulk estate marketing
- Lower operational overhead
This shift means a larger percentage of land transactions in Ibeju-Lekki today involve resale plots rather than off-plan estate sales.
9. Flexible Payment Plans Encourage Quick Sales
To boost sales velocity, many landowners and realtors now offer:
- 3–12 month payment plans
- Zero interest options
- Pay-and-take-possession deals
These flexible terms make resale lands more attractive to buyers who may not afford lump-sum payments, leading to quicker turnover and increasing demand.
10. Fear of Land Fraud Makes Resale Safer
Let’s face it — many people have lost money to fake land schemes in Ibeju-Lekki. Resale plots, especially those from individual sellers or estates with verifiable past buyers, carry lower fraud risks.
With references, title documents, and physical inspections more easily available, buyers feel more secure — further increasing resale activity.
If you’re considering investing in plots around Ibeju-Lekki, the resale market is now more vibrant than ever. While prices are no longer as low as 2015–2018 levels, resale plots offer:
- Faster possession
- Clearer title documentation
- Better locations
- Lower risks
However, due diligence is still key. Always work with a reputable agent or legal professional to verify all documents before payment.
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