Ikeja Real Estate Market Analysis

 

The Ikeja Local Government Area has an area of 1,959 hectares.

Ikeja is one of the fastest growing cities in Nigeria with a population of more than 2 million people. It is located at latitude 6°30'N and longitude 3°20'E. Its elevation above sea level is approximately 5 metres.

There are currently 2,812 properties available for sale in Ikeja.

The real estate market in Ikeja has been very active since 2016. This is because of the rapid growth of the city and its surrounding areas. In fact, there are now more than 2,000 properties for sale in Ikeja alone.

The average price per square meter is N10,000.00.

The average price per sqm in Ikeja is currently at N10,000. However, the prices vary greatly depending on location. For instance, the average price per sqm is N15,000.00 in Ojodu Berger while it is only N7,500.00 in Ajah.

The median age of homes sold in Ikeja was 3 years.

The real estate market in Ikeja has been growing steadily since 2010. In fact, the number of properties sold increased by more than 50% between 2011 and 2012. This growth is expected to continue as the population continues to rise.

The most common type of property being sold in Ikeja is Apartment/Flat.

Apartments are becoming increasingly popular in Ikeja because they provide an affordable alternative to buying a house. They also allow people to live close to work and other amenities.