Why is this plot of land more expensive than that one, even though they look the same?
If you’ve ever asked this question while buying land in Nigeria, the answer is simple: location.
Yes o! Location no dey lie. It can make or break the value of a property, whether you’re buying for investment or future development.
So if you’re wondering “How important is location in real estate?” or “What is the significance of location in property valuation?”, this article will break it down for you, Naija style!
Why Location is a Big Deal
Think of land like agbado (corn). The one planted on fertile ground will surely yield more. Same thing with land—location is the fertile ground that determines the price, value, and even future potential of that property.
In places like Lagos, Port Harcourt, or Abuja, land prices differ drastically based on how developed or accessible an area is.
In fact, one of the first questions smart investors ask is:
“Where is the land located?”
Because truly, location is the heartbeat of property value.
What Factors Affect the Value of a Property?
To understand how location influences land price, we must explore the four factors that influence value in real estate:
- Economic Factors
Is the area booming with businesses? Is there job creation, market access, or major infrastructure development (like bridges, airports, or seaports)? All these drive up land demand—and price. - Social Factors
Think about lifestyle, security, community development, or proximity to schools and worship centers. These soft features can increase the desirability of a location. - Environmental Factors
Is the land flood-prone? Is it dry and buildable? Is it close to a water body or industrial zone? Natural and man-made environmental elements affect value. - Government and Legal Factors
Zoning laws, title documentation, and government-acquired lands all influence whether land is cheap, pricey, or even sellable at all.
Now, if you’re asking “What are the factors that affect land use?”, here’s the tea:
- Zoning regulations
- Soil and topography
- Infrastructure availability (like roads and electricity)
- Market demand
- Cultural or religious considerations in certain communities
For example, some areas are zoned only for residential use—no factories or commercial buildings allowed. Others might be marked for agricultural or mixed-use development. These decisions affect both the use and the value of the land.
Why You Should Care About Location Before Buying
If you want your land to appreciate, you have to think long-term and choose location wisely.
Let me paint a quick picture:
- Land in a remote village today may be ₦500,000.
- But the same land, after a major express road or university is built nearby, can rise to ₦5 million in 3 years.
This is why understanding the importance of location in real estate is key for any smart investor.
At WinRealty, we help clients like you spot these opportunities early, before the price skyrockets. Whether it’s Eneka, Omagwa, or Aluu, we guide you to areas with the highest growth potential.
What You Should Do Next
Now that you understand what factors affect the value of a property and how location influences price, here’s what to do next:
✅ Research the area – Ask questions. What’s coming up there in 2–5 years?
✅ Check the infrastructure – Is there road access, light, or nearby development?
✅ Get professional advice – Don’t go in blind. Speak to trusted real estate consultants.
✅ Buy early – The best time to buy land was yesterday. The next best time is now.
Ready to invest in a strategic location?
Send us a WhatsApp message or call our team at WinRealty. We’ll help you secure land that will grow in value not just in price.