ONIRU: FAMILY FRIENDLY, INVESTMENT FRIENDLY AND BUSINESS FRIENDLY

Author: CW Real Estate

Ever wondered the hype around Oniru and how to secure one of its most priced addresses? What started out as an extension of Victoria Island has evolved into one of the best communities in Lagos, with easy access to Lagos business district and great communal facilities. Sitting on over 2.1 km expanse of land and located in between Lekki Phase 1 and Victoria Island, it’s no surprise that everyone wants to secure an Oniru address as it is one of the best neighbourhoods on the Island.

Reckoned as a family-friendly, investment-friendly and business-friendly location, the options are endless in Oniru. A highly diversified environment with a high population of expatriates, high net-worth individuals and young budding entrepreneurs, nothing compares to what it has to offer. Beach, infrastructure, well-secured streets and a millennial feel.

Oniru has over 100 unique properties in its neighbourhood which comprises 65% of active listings available on the market. Flats make up over 50% of all listings with terraces having 30%, 18% for detached houses and 2% of other house types. An average 2 and 3 bedroom apartment size is 90 – 95 sqm and 120 – 130 sqm respectively. Oniru as
one of the most sought after locations for millennials makes up 48% of our total close rate for rented apartments. Prices are soaring in Oniru and return of investment sits between 8 – 12%.

Owning a home in Oniru will set you back by an average of N40m – N50m for a 2-bedroom flat, N60m – N80m for a 3-bedroom flat and a terrace goes for N90m – N120m. Renting the stated options will set you back by N2.5m – N3m, N3.5m – N5m and N6m respectively.

Residents of the Oniru neighbourhood will tell you that security and the array of relaxation spots are the best things about where they live. Oniru is one of the best places to live in Lagos as it offers residents serene, healthful and beach-centric community with proximity to other prime neighbourhoods. It is also close to the central shopping areas, restaurants, markets, medical services and schools.

Land Price:
N180k – N220k per sqm

Average Rental Prices:
2-bedroom flat: N29k – N32k per sqm
3-bedroom flat: N35k – N39k per sqm

Average Sales Prices:

2-bedroom flat: N50m

3-bedroom flat: N60m – N80m

Terrace: N90m – N120m

Detached house: N150m – 200m

Semi-Detached house: N110m – N130m

Positives:
Mixed-use neighbourhood
Highly secure
Perfectly positioned
Great communal facilities

Negative:
Prone to flooding

Neighbourhood Rating:
Location: 7
Security: 9
Accessibility: 8
Availability of Facilities: 8
Infrastructure: 8
Grade of Buildings: 8
Use of building: 8
Trend: 7
Demography: 9

Looking to rent/buy a home in Oniru?
Contact: CW Real Estate Lagos
Instagram: @cwrelagos
Twitter: @cwrelagos
Facebook: @cwrelagos
Adeyemi: 09093272572