Why Lekki is so Attractive to Young Families—— September 1, 2021
In recent years, the Lekki Peninsula has become a much sought after residential location in Lagos especially for young families and couples looking to buy homes in the city as well as looking for houses to rent. In actual fact, Lekki has been described in several real estate reports and publications as ‘the fastest growing real estate corridor in Nigeria’.
Why then has Lekki become such a popular residential destination in the last fifteen to twenty years or thereabouts for both families and couples? The reasons for this are varied but we would endeavour to examine some of them as follows;
Relative Availability of Large Tracts of Land
The Lekki peninsula is a relatively new addition to the urban landscape of Lagos as development did not really take off there until the early nineties. This is unlike other areas of Lagos such as Victoria Island, Ikoyi and the Lagos mainland that have been in existence since the fifties and sixties. The relatively late development of Lekki in terms of urbanisation therefore resulted in the fact that there are still large areas on the peninsula that are not yet fully built up. This therefore makes the area an attractive destination for developers and has resulted in greater availability of new houses for sale in Lekki as compared to other parts of Lagos.
Proximity to the Commercial Center of the City
From the sixties up to the early nineties, the Central business district of Lagos was located in the Lagos Marina / Broad Street area of Lagos Island. By the mid-nineties however due to congestion and blight, the CBD of Lagos shifted to Victoria Island which also offered greater security and ambience. It was actually from this time onwards that Lekki started gaining popularity as from a residential location point of view; it initially offered shorter travel times and less stressful access to Victoria Island as opposed to commuting from the Lagos Mainland. Notwithstanding the increased congestion on the Lekki axis in recent years, it still retains that sense of proximity which makes it a more attractive residential option for young couples than most other parts of Lagos mainland.
Concentration of Developers in the Area
Due to the two factors highlighted above, Lekki peninsula has been a very attractive destination for residential development in particular and has thus led to a high concentration of Real Estate developers operating in Lekki compared to anywhere else in Lagos. This influx of developers into Lekki has in its turn resulted in relatively greater availability of new builds in the Lekki axis. In the light of this, young families looking to buy houses in Lagos find that they have far greater options to consider in Lekki when prospecting for houses.
Security of the Neighbourhood
Security is at the top of the list for most people planning to buy a home in Lagos and this is quite understandable. In view of the fact that there is a lot of residential development activities in the Lekki area that are initiated by developers, many of the houses in Lekki are situated within private gated estates and this offers the required level of security for most prospects thus making Lekki a desirable property acquisition and investment destination for them
Variety of Entertainment Hubs, Shopping and Lifestyle Centers
Partly due to the fact that Lekki is a growing neighbourhood and also because of the huge explosion in residential accommodation, there has likewise been a huge investment in Shopping and entertainment hubs such as the Palms Mall and Circle Mall in order to serve the relatively affluent residents of Lekki peninsula. This has led to a situation where the Lekki peninsula has arguably become home to the highest concentration of major shopping malls in the Lagos metropolis. This in its turn increases the attractiveness of living in Lekki as it practically leaves you spoilt for choice when it comes to locations where one can schedule family outings or simply catch some fun. With the rich mix of local and international hotels, shopping malls, gymnasiums, and other recreational centers, available on and around the peninsula you are sure to find what you desire in terms of leisure activities in the area.
Access to a Variety of Good Schools
Again, due to the rapid development of numerous housing estates on the Lekki peninsula, a huge demand has been created for quality Schools that would serve the residents living in the area and that do not require a long commute. This huge demand for good Schools has encouraged the setting up of several new Schools to meet the residents’ needs.
It has likewise triggered the location of new branches of already established and well known educational institutions such as Corona School, Greensprings College, Chrisland Schools and others in the Lekki area. Lekki has thus become noted for its wide range of excellent schools which give children the necessary foundation they require with regards to primary education and also prepare them for college or university education. The abundance of notable and prestigious Schools in Lekki is thus another factor that has made it an attractive place to live for a lot of young families.
Lekki Provides Business Opportunities for Emtrepreneurs
Finally, a further point to note is that with the continued rapid development of Lekki in terms of residential estates, Shopping and Entertainment hubs, Schools and other facilities, there is a concurrent growing demand for a lot of other complimentary services such as Pharmacies, Supermarkets, Building materials stores, Laundries, Event centres, Petrol stations, Restaurants, Hospitals, etc. This huge demand for complimentary services draws budding entrepreneurs to the Lekki area to set up business that would meet some of the demand and ultimately many of such entrepreneurs subsequently decide to acquire houses in the zone in order to have proximity to their businesses or places or work.
In conclusion whilst there may be still other factors drawing young families to Lekki, the foregoing are the key ones we have identified for discussion and these no doubt provide a good overview of the factors that fuel the attraction young couples and families feel for the Lekki area of Lagos.