Land can be classified under two major uses mainly residential and commercial use. A land is regarded as a part of the earth that is not covered by a body of water, and it is also regarded as a factor of production. Bungalows, duplex, terrace, townhouses among other types of buildings, are most of the residential use of a land in Lekki Phase 1. Commercial use of land may include for agricultural purposes, to build schools, malls, companies, hotels among others.
Land for sale in Lekki Phase 1 is the most demanded property in Lekki real estate as it satisfies the desires of many wishing to own a land to build their houses. The land is the most useful part of properties in the real estate market as it is the platform on which all structures are built on. You don’t even have to build a structure on the land, as the value is sure to appreciate with or without a structure.
Although some parts of the lands in Lekki Phase 1 have been used up in property developments, virgin lands are still readily available for sale. The luxury associated with Lekki Phase 1 makes it a sought after axis for property investors in Lagos state. A 1300 square meters of land in Admiralty way in Lekki Phase 1 costs up to N300,000,000 to purchase.