Residential Auctions Company (RAC) has studied the real estate prospect in Lagos state.

"With the on-going rehabilitation and expansion of the Lagos-Badagry Expressway and the construction of the Blue Line Lagos Rail Transport (LRT) mass transit transport system by the Lagos State Government (LASG), the Okokomaiko – Badagry axis part of Lagos Mainland has the potential to emerge as the next “Lekki” of Lagos Mainland in the future with regards to the delivery of new housing units in Lagos provided infrastructures continues to improve along this axis.

This will have a directive positive impact on commercial activities in the location and will act as a catalyst to lure more residents from other locations on Lagos Mainland to migrate. The Blue Line is a 27km urban rail line that will run from Okokomaiko to Marina. There will also be a Red Line which will run from Marina to Ikeja International Airport."

The 2016 report also had things to say concerning the numerous ongoing projects and the presence of developers in Lagos state.

"The next coming months and beyond will be testing times for developers as demand is likely to be curtailed with clients cutting back on spending until a clearer picture of the economy emerges to restore consumer confidence in the market.

It is expected that a lot of developers will tread carefully when embarking on new projects to launch and location of choice will be a paramount factor. Also to hedge risks, developers will cut back on the size of projects they embark upon and will seek to develop small size projects that will provide not more than three – ten units, which will quickly attract sales even at the off-plan stage hence eliminating the occurrence of idle units waiting to be sold several months after completion which will increase the cost of keeping stock."