Lekki, the fast-growing stretch in the South- eastern part of Lagos is the most searched by online house-hunters in Nigeria’s leading commercial hub, according to Lamudi.
Following Lekki is Ikeja, the capital of Lagos were revealed in the Top 10 neighbourhoods favoured by Lagos using online service, Lamudi Nigeria.
According to the research from Lamudi’s Q1 2015 report, these 10 neighbourhoods in Lagos dominate property searches in Nigeria’s most populous city, attracting 89 percent of all searches.
The Lamudi data shows Lekki as the most popular area for house-hunters in Lagos, attracting 38.33 per cent of all property searches in the city.
Lamudi reveals that house-hunters in Lekki are looking predominantly for properties to rent (70 percent), with only 29 percent looking to buy. A mere one percent of searches were for land in the area, as shown in the breakdown of the online search into an easy-to-read infographics.
The second most popular district is Ikeja, with 12.32 percent of house-hunters in Lagos searching for property in this area. At the other end of the scale, the research highlights 10 areas in the city that generate less than one percent of all Lagos property searches combined.
Renting is dominating property searches in all the top 10 neighbourhoods in Lagos. In Yaba – the fourth most popular district for property seekers in Lagos – 93 percent of searches are for rental properties, with only four percent looking to buy.
In Shomolu, 94 percent of property searches are house-hunters who want to rent. Data shows the most popular of the top 10 neighbourhoods for purchasing property in Lagos is Ikoyi; 42 percent of searches in this area are carried out by house-hunters aiming to buy.
“Lagos is at the forefront of Nigeria’s dynamic property market, as highlighted by such a high number of searches in this area. We believe it should be important for both sellers and investors to understand the breakdown of demand for properties by neighborhood in order to better understand where people are looking to settle down within the city”, Obi Ejimofo, Managing Director of Lamudi Nigeria says.
According to Ejimofo, “we have seen that the Lagos rental market is much more active than the sales market. This trend is confirmed by our data for the first quarter of 2015, where searches for rentals are dominate over 75% of all searches in the city.”
Lamudi is a leading online real estate marketplace exclusively focused on emerging markets. The website offers an easy to use and secure platform to buy, rent or sell real estate online.
The real estate service which started online operations in October 2013, has over 30,000 residential and commercial property listing from developers and real estate agents.