Ibadan as the next metropolitan city in Nigeria; find the areas that would suit your taste.
or Best Locations to buy properties in Ibadan; Top places to buy land in Ibadan.
Ibadan, the capital city of Oyo. The “pace setter state” has the history of once being the most populous state in Nigeria and the second most populous in the continent in the 1960s. Is trying to regain its position as one of the power cities in Africa.
Ranked as the second fastest growing city in Africa and 3rd within West Africa’s tech startups index. Statistics like this further highlight the city’s upward trend to being one of the biggest in Africa and regaining its previous glory.
Property dealers in Nigeria’s property market are looking to invest heavily in Ibadan. With the real estate market in Ibadan already having its suitors -people who liked the tranquility, affordable housing in Ibadan, and cost of living compared to other major cities in the country.
Real estate companies in Ibadan and big names in the Nigerian real estate market are targeting certain areas within the city. We have gathered 10 of the best places to buy properties in Ibadan from research based on the activities of these parties in the state.
We will also mention a few places where growth is projected. Affordable estates in Ibadan will be included here too.
Here are the best areas to live and also invest in real estate in Ibadan.
Agodi G.R.A
In Nigeria, the term G.R.A is used to describe Government Reserved Areas; GRA’s in Ibadan are usually known for being areas of dwelling for individuals of wealth and those who enjoy a better standard of living.
Agodi GRA is an area known well in Ibadan as the seat and home of power. The estate, also being the location of the Oyo state secretariat – Area of the Governor’s office and other government parastatals, remains a residential area within the area.
Apartments for rent in the area can go as high as 1.6 million naira for a 3 bedroom apartment and 3 hundred thousand for a mini flat or self contain on recent home listings. Houses for sale in the area can range from 40 million naira to 600 million naira depending on the size and style of the house.
Land sales in Agodi can go at an average price of 25 million for 600 sqm of land, and as much as 270 million for a whole acre of land.
Aerodrome Estate
This area used to be an area dedicated to a local airport called Samonda, till it was decommissioned by the Late Otunba Christopher Adebayo -former governor of Oyo state who was heavily opposed when he proposed converting the area into a residential one.
Aerodrome estate has developed into one of the best places to live in Ibadan, as it is located close to the Bodija market, Ventura Mall, and an amusement park with other recreational areas within its vicinity.
Rapid expansions and population growth are encouraging signs to the property market in Ibadan. Real estate companies are setting up commercial properties for sale within the aerodrome estate.
The more costly houses range from 40 million naira upwards, with some as much as 500 million naira, when considering apartments for sale in Aerodrome. Apartments for rent in Aerodrome go for 3.5 – 5 million naira per year for a 4-bedroom house.
Another G.R.A in the state capital. Concentrated with the society’s elite, and the rich. Most of the influential individuals of Ibadan live and dwell in ALalubosa.
One of the major selling points of Alalubosa is its beautiful and expansive coverage area. Real estate companies in Ibadan are building estates within this area, taking advantage of the large space available.
The property market has listed both Lands for sale and apartments for rent. 3 bedroom apartments for renting go for 3 million naira and a self contain single bedroom for rent going for 650 thousand at yearly rates.
The area had long been designated as an estate, known near the Akobo and General gas axis. Although nearly abandoned for a long period, it has however been resuscitated. Kolapo Ishola estate is becoming one of the fastest developing estates in Ibadan.
Kolapo Ishola estate is one of the top and favorite places of construction in Ibadan. Its location and road network to other key parts of the city -like Dizzengolf which is a key tech center in Ibadan.
An apartment for sale in Kolapo like a 5-bedroom duplex can be placed on home listings in Ibadan for as much as 200 million naira, while land sale can be listed at 95 million for 900 sqm. Apartments for rent in the area of Kolapo can range from 3.5 million per year for a 4 bedroom and 900 thousand naira for a two-bedroom flat.
This estate is known for housing both members of the upper class and middle class. It is situated in the southwest area of the state.
Its affordability and class associated with the areas are parts of the reasons several better-paid emerging working class in Ibadan’s society chose this estate as the location to raise and maintain their families.
The access to the main road network is another reason why it remains popular. With the Ibadan Liberty Stadium a few minutes by drive to and fro the estate.
A lovely furnished 5-bedroom apartment duplex can go for 70 million naira, Land in Oluyole can be listed for 15 million naira -exact prices depending on what you are looking for.
Apartments for rent in the area for a 3 bedroom can go for 900 thousand naira per year, while a 2 bedroom can go for 500 thousand naira depending on the perks the building offers.
Arguably the most luxurious estate within Ibadan. Saying it is only the elites of the society that can afford to get properties within the residential area is not a lie.
The area boasts distinctive architecture and structures that would impress anyone moving that has its buildings in their view.
Iyaganku houses properties for notable figures in the Nigerian landscape. Names like Mike Adenuga -chairman of Globacom, and Chief Bayo Adelabu -previous deputy governor of the central bank of Nigeria are just two of the notable names holding properties within the estate.
The nickname “billionaire G.R.A” given to Iyaganku seems to fit it like luxury furnishings in a luxurious house.
Apartments for rent in Iyaganku are home-listed on sites for as much as 5 million naira for a 3-bedroom apartment. Apartments for sale are listed for 140 million naira for a 4-bedroom detached duplex, while newly furnished places can go for 250 million naira for a 5-bedroom apartment.
Given the status of homeowners in the estate, little expenses were spared when building infrastructural facilities to first-class levels and a police station to offer tight 24-hour protection.
In conclusion, There are other areas that more than deserve an honorary mention -as they can also lay their claims as part of the best places to acquire property in Ibadan. Onireke with its concentration of foreign nationals very close to the city’s central business district, Jericho which was established by the early colonies of the city, there are now two different estates within the area.
Investments in these properties might not be achievable by everyone, nevertheless. Ibadan and Oyo state possess properties in areas where mass growth is projected in the coming years. The option to buy and hold on to when these properties appreciate in value.
With the master plan the Oyo state government is implementing to make the state the next metropolitan in Nigeria. The time of their sizable appreciation will not be far.
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