Since the construction of the Lekki-Epe expressway, which connects the Lekki districts to Epe. Epe has experienced faster economic growth.
But in recent times, the growth has tripled and is predicted to become the next hot spot of Lagos.
Epe is a town and local government area in Lagos, Nigeria. Located on the north side of the Lekki Lagoon. A Yoruba-Ijebu town where the indigenes are known for fishing (read more).
The area has experienced a boom in recent times that was unforeseen 8/10 years ago.
Located in Lagos state, the commercial center of Nigeria and West Africa’s largest economy.
Lagos State has an indoor population of over 2 Million people coming in daily, and the housing demands are on an increase. This has led to more areas like Epe expanding in their development to accommodate this demand.
In recent times Epe has come up on the radar of many real estate investors. With its fast developments in tourism, education, and infrastructure.
Its proximity to the Lekki free trade zone among others has led to an upsurge in property values. Although relatively cheap when compared to surrounding areas.
Prime lands in Epe costs between N900,000 to N5 million per plot in 2023 as against N150,000 of 8 years ago and is on a steady increase. Property value in Epe is projected to reach a high of 35 million per plot in 2030.
Well, before rushing in to put your investments in Lands in Epe, There are certain preliminary actions you must take. This ensures the safety of your investments. In this article, we will break them down.
Tourism In Epe
Epe has seen big investments in its tourism sector. This sector is a drawing point to the place as new resorts spring up, increasing the inflow of tourists to the area.
Some of these tourist spots and attractions are:
1. Epe Resort And Spa
This is a resort for those looking to unwind from the bustle of Lagos. A serene environment perfect for relaxation.
Epe Resort and Spas is a luxury 4-Star resort located in the coastal town of Epe. With its natural scenery and green areas. They offer comfortable accommodations and serve savoury dishes.
There is also a pool, tennis court and a basketball post. Along with a Spa for massages to release your stress muscles.
This is a perfect destination for bonding, retreats, and events.
2. Omu Resort
Omu Resort located in Epe, Lagos is an all-in-one rainforest resort. You can enjoy activities at its Zoo, Amusement Park, WaterPark, Chateau de Delice, and Car Races. It has something for everyone! Adults and kids alike.
Enjoy sights at its Freshwater SeaWorld or the Wax Museum.
Omu resort speaks adventure!
3. Jubilee Chalet Resort
With a perfect view of the Ocean, enjoy a relaxing time in this upscale resort. From its restaurant with skilled chefs that serve continental dishes and Nigerian cuisines.
To its beauty and health Spa, to get facials, sauna, full body massage, body detox, pedicure, and manicure. A pool with a standby pool guard, Bar, Sports center, and luxury rooms for your stay.
4. Epe Recreational Center
The Recreational Center in Epe boasts of recreational activities e.g football games, basketball games, and a volleyball court. Entry is free and open to the public.
5. Joyrich Fun Park
Located in Poka Epe. JoyRich Fun Park offers relaxation for adults and children. It has a Water slide, Restaurant, kids’ games, and a large projector to watch a football match.
6. Epe Fish Market
Also called the Oluwo fish market. A popular fish market in Lagos where a variety of freshly caught fish and seafood are sold at cheaper rates.
Fishes like Catfish, Tilapia, Crayfish, Barracuda, Pangasius, Knife Fish, Red Snapper, Oysters, Shining Nosed Fish, and other sea foods like Prawns, Snails, Shrimps, and Crabs are sold in this market.
You can also find bush meats like deer, monkeys, wild pigs, Antelopes, and Crocodiles being sold there.
7. Epe Margrove
The Epe Mangrove is a naturally formed mangrove with its unique fauna.
You can enjoy canoe rides around this natural gift. Take pictures of its unique ecosystem, a vast land with greens growing in brackish/saltwater.
Epe is a few minutes drive to the Eleko beach, Awolowo museum, and Honey Land Beach resort.
8. Hotels
- Wes Harbour Hotel
- Merseyside Hotel
- La Casa Hotel
There are various bars and restaurants to cater to the teeming population.
Infrastructure In Epe
When it comes to infrastructure in Epe, The phrase “to find the money, follow the money” is the perfect description. In recent times, major government attention has been on areas like Ibeju-Lekki and Epe. This has sparked the interest of foreign investors and home investors alike, who would like to take advantage at the beginning stages.
1. Airport
The federal government has approved the construction of the Lekki-International Airport which will be located in Epe. The construction is to commence in 2023.
2. Roads
Epe has a good road network and the major access roads within Epe are wide and well-tarred. The road network in Epe links Lagos to other states in the country. The Lekki-Epe expressway connects Lekki to Epe and links to Ijebu-Ode.
3. Schools
- Several Universities have campuses in Epe.
- Grace Polytechnic.
- Saint Augustine University Illare-Epe
- Yaba College of Technology
- Lagos State University (LASU) Epe Campus
- Micheal Otedola College of Primary Education (MOCOPED)
- A few minute’s drive to Pan Atlantic University (PAU)
- Atlantic Hall School
4. Housing
Every major real estate development firm in Nigeria has ongoing projects in Epe. New housing estates are on the rise driving property values up.
4 Benefits Of Buying Land In Epe
- Lands in Epe are cheap compared to areas around it. The lands are sure to appreciate due to the rapid urbanization of the area.
- Proximity to the Lekki-Free trade zone has increased demands for Epe properties and the property values are on a steady increase
- Epe is home to five university campuses and you can take advantage by building education-related infrastructures like hostels and restaurants.
- Epe boasts of good road networks that connect to Lekki, Ikorodu, Itokin, and Ijebu-Ode. Epe is a travel route to commute outside of Lagos through. Investors can take advantage of this.
7 Ways To Verify Genuine Lands In Epe
1. Ensure that the Land is a Freeland
To verify a free land in Epe, it must have either of these. An excision, Governors consent, or C of O. and free from government acquisition.
The lands in Epe are said to be under committal acquisition when the government has indicated an interest in using them. Usually, to provide amenities for public use (e.g., roads, bridges, housing estates, etc.),
Lands within these areas are designated as “urban areas” and are under government acquisition. As a result, such land is not available for use by individuals. If you happen to buy this land, you cannot perfect your land documents (title) and would only be occupying it once the government kicks you out.
The best way to verify committal acquisition land is to employ the services of a trusted lawyer or independent surveyor.
They would pay a visit to the Surveyor General’s office with the survey plan and obtain a Land Information Certificate. The Survey Plan must have a free-from-acquisition stamp.
2. Vet The Real Estate Company
When buying from a Real Estate Company, carefully check their track records, know their terms and services, and employ your Lawyer to verify the documents even if they have their Company Lawyer.
The Lawyer would check at the land registry and the estate developer’s office.
3. Vet The Individual Or Community
When buying from someone other than a real estate firm i.e. Private Individuals or Communities. Request from the seller the following documents or (good-quality photocopies/scanned copies):
- Certificate of Ownership(C of O)
- Power of Attorney(when a representative is used)
- Tax Clearance or Tax Certificate
- Survey Plan
- Deed of Assignment: This helps trace the history of the land to the present owner as a Deed of Assignment shows a record of all sales transactions on the land.
Also read: Important Property Document In Nigeria You Need To Know
NOTE
Employ the services of a property lawyer who knows their job. Some could be quite inept. A property lawyer handles all real estate documentation (verifications and drafting).
4. Pay A Physical Visit To The Site
Another thing on your due diligence list. Ensure you go in person to confirm the following things:
- The exact coordinates of the land, the size, and the position to confirm it’s the same as in the documents. To do this, you need to employ the services of an independent surveyor who would carry out another survey on the land.
- Oil and Gas Pipeline: Check the land for an oil and gas pipeline to ensure it doesn’t contravene the law on nearness to one. Defaulting on this causes explosions and leads to loss of lives.
- Filling station: Ensure the neighbouring land is not a filling station or owned by someone planning to build one.
- Power-line route: There are government standards and specific guidelines for how close a house can be to a power-line route. Asides from the regulations, it is highly dangerous to build under a power-line route.
- Proximity to the highway:
There are situations when the government expands roads and a lot of properties in the path get destroyed. To avoid this, check the land to know its distance from the road. And ensure it fits the government guidelines.
- Waterways:
Ensure the land is not located on or very close to a waterway. Asides from being susceptible to flooding, government policies prevent you from building on such land. If you build, the property would be demolished.
- Infrastructures listed by the seller:
A lot of times sellers exaggerate about amenities in a place. Amenities like good roads, clean water, light, and neighbourhood settings. To confirm all this, you should pay a visit to the place.
5. Investigate Taxes And Other Fees
Land ownership in Nigeria attracts a fee ‘land use charge’. Lands with a Certificate of Occupancy (C of O) usually attract this fee, payable by the land owner. Before purchasing land, verify that all the necessary fees and taxes have been paid in full and up to date.
6. Value Assessment And Investigation
Value assessment involves you finding out the prices of other lands within the vicinity to know the average price. This enables you to know if you were outrageously overcharged.
In real estate, the value of land hugely depends on its location. A piece of land in Ikoyi and Badagry of the same size cannot sell for the same price. That being said, it’s common for lands within a neighbourhood to have similar price ranges.
Other investigation processes involve meeting the chairman of the community development council( CDC) or indigenous people. It’s their job to know the history of lands within their community. You do this to verify the real owners and any other information on the property.
7. Zoning And Land Use Control
When it comes to real estate, different areas are mapped out for different purposes. It could be for residential, commercial, or industrial uses. Verify that the land in Epe you intend on buying is specified for the purpose for which you are buying it.
If it is for a business, be sure the land district is not assigned for strictly residential areas. Epe is a fishing town and has several lands mapped out for fishing. Land information certificates from the ministry of land show the zoning information on the land.
Frequently Asked Questions
How do I know the land is genuine?
A visit to the land registry will reveal the true owner of the land, and other hurdles such as government acquisition, mortgages, or leasehold on the property.
This entails using the land coordinates gotten from the registered survey to check.
Final Thoughts
Being able to verify properties before you invest in them is a necessary step against losing your investments in the long run. Epe has a lot to offer and development is at its prime state, especially concerning real estate.
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