I remember when the founder of Real Forte, Ayobami Folarin, spoke on the Venture Valley podcast last year.
He said, “If you get your location wrong as a first-time property buyer, it can discourage you from getting a second one, especially if you don’t have the wealth for it.”
This is so real.
Because some of our clients have experienced it before coming to us at RHS.
It’s one thing to jump on the real estate ‘gold rush’; it’s another to know what areas are the best for investment right now.
In this feature, we’re focusing on why Surulere should be top on your list of considerations.
Ranked: Top Areas to Invest in Lagos For Properties
1. Lekki
Without a doubt, Lekki is the holy grail for real estate investment right now. Although not the best for entry investors, there are modern estates, new developments, strong appreciation, but rising costs, and flooding concerns.
2, Victoria Island
This place is also a hot cake for real estate investors right now due to its high-end apartments and luxury offices, and it’s great for corporate rentals, but very expensive.
3. Ikeja
Ikeja is Lagos mainland’s business hub.
And getting good real estate deals here is difficult, but worth it. High-end properties near the airport have a steady rental market.
4. Yaba
There are also many property investment opportunities in Yaba right now.
Being the tech/start-up district of Lagos, it is also close to the University of Lagos and Yabatech, so house properties in this region usually have high student rental demand.
5. Ajah
Ajah is currently undergoing one of the most rapid developments in the history of the Lagos real estate market.
The thriller is that properties in these areas are, though high-end (especially land), more affordable than in Lekki, but the infrastructure is still catching up.
6. Surulere
Saving the best for last, Surulere is a market currently undergoing rediscovery.
First off, it’s in a central location. And then, there are massively strong rental yields with affordable entry prices for investors, especially in landed properties.
Why Surulere Should Be on Your Radar
Let’s start with the obvious advantage:
1. Strong Rental Demand and Steady Tenant Market
Surulere’s rental market is one of the most stable in Lagos.
Its tenant base is broad. You’ll find working-class professionals, civil servants, students, small business owners, and families who have lived in the area for years.
- 1-bedroom flats: ₦800,000 – ₦1.5 million/year
- 2-bedroom flats: ₦1.5 million – ₦3 million/year
- Mini-flats: ₦600,000 – ₦1 million/year
Properties don’t stay vacant for long.
Given its centrality and demand, you can expect 90–95% occupancy annually if your property is in good condition.
2. Affordable Entry Prices Compared to the Island
Property prices in Surulere are significantly lower than in Lekki or Victoria Island. Yet, the rental yield is often higher.
Surulere’s average land price is currently between ₦200,000 and ₦400,00 per sqm (depending on the street).
If you’re lucky, you can find an average Lekki Phase 1 land price for around ₦1.2 million per sqm.
That means for the price of one small plot in Lekki, you can own a block of 4 flats in Surulere, earning immediate rental income.
3. A Lot of Neighborhoods are Currently Undergoing Renewal
Surulere may be one of Lagos’s older districts, but it’s also evolving fast.
Many old bungalows are being replaced with modern mini-estates and luxury apartments, especially along Adeniran Ogunsanya, Bode Thomas, and Eric Moore.
Barely 5 months ago, in Obele-Oniwala, a former dumpsite was transformed into a residential complex with 21 blocks and 378 apartment units, including one-, two-, and three-bedroom flats.
Even in Olaleye New Town Estate, a 64-unit, four-bedroom maisonette project was commissioned in the Iponri area of Costai.
The government’s urban renewal projects (improved drainage, road rehabilitation, and the proposed Lagos Rail Red Line) are increasing accessibility and boosting land value.
4. The Central Location of Surulere
Surulere sits strategically between the Lagos Mainland and the Island.
It links Victoria Island, Ikeja, Yaba, and Apapa within 20–30 minutes (traffic permitting).
The major roads connect to every part of Lagos.
Tenants love Surulere because they can work on the Island and still live affordably on the Mainland.
For example, a client of ours who works in Victoria Island bought a 2-bedroom flat in Aguda for ₦105 million.
He spends less than ₦2,000 daily on fuel, yet rents for similar apartments on the Island are ₦200 million or more.
That’s how investors find balance. It has a lower cost of entry, but the same access.
Why Neighbourhood Choice Matters in Lagos Property Investment
The truth is, not every Lagos property will make you money.
You have to think beyond “location” and consider market fundamentals. These include:
- Capital appreciation: Will your property grow in value over time?
- Rental yield: How much can you realistically earn yearly compared to the purchase price?
- Accessibility: Are the roads and transport links convenient for tenants or buyers?
- Neighbourhood demand: Who lives there? Are they students, professionals, or families?
- Safety and infrastructure: Are they areas people feel comfortable living in?
Surulere ticks all these boxes. And that’s what makes it stand out.
ALSO READ: 10 Real Estate Mistakes to Avoid as a First-Time Buyer in Lagos
Best Areas Inside Surulere to Consider
If you’re thinking of investing, these are the sub-neighbourhoods you should consider:
| Area | Ideal Investment Type |
| Adeniran Ogunsanya / Bode Thomas | Serviced apartments, mini-estates, commercial shops |
| Aguda | Flats, mini-flats, short-let apartments |
| Lawanson / Ogunlana Drive | Hostels, family apartments |
| Ijesha / Coker / Orile Axis | Land banking, low-cost housing |
| Eric Moore | Duplexes, gated estates |
The Best Time To Buy In Surulere Was Last Year…
But the next best time is now.
If you’re ready to explore real investment opportunities in Surulere, start with a property agent.
At RentHouseSurulere, we’ve helped dozens of clients secure profitable assets in this area, and the trend continues to be upward.
ALSO READ: Why You Should List Your Property For Sale, Rent Or Lease With RentHouseSurulere?
Our system is designed for busy property buyers like you who want results.
And that process is handled by a team that knows how to find deals in Surulere, because we are locals too.
Send us a WhatsApp message today, and let’s help you find your dream property faster.
