Why Do Property Prices Increase?

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Understanding the Dynamics Behind Real Estate Price Adjustments

As an investor or prospective buyer, you might wonder why property prices, particularly in fast-growing regions like the Lekki-Epe corridor, rise over time. At Round Peg Homes, transparency is at the heart of what we do. Here, we’ll break down the major factors contributing to price adjustments in our ongoing projects, such as Bona Fortuna Estate and Sola Fide Estate.

1. Market Demand: Natural Property Appreciation

The core driver of real estate price growth is market demand. Prime locations like Epe, often called the “New Lagos,” have seen a surge in interest due to infrastructural development, proximity to key landmarks, and its growing role as a future commercial hub.

To illustrate this, we have included a Price Appreciation Graph (2019-2024) below. This graph shows the steady rise in property values in the Lekki-Epe corridor over the past five years.

To learn more about why Epe is becoming such a hot spot for property investors, check out our blog post: Epe vs. Lagos: A Comparative Analysis of Real Estate Opportunities.

As more people recognize the potential of this area, demand increases, which pushes property prices higher. Early investors benefit significantly, as property values continue to appreciate over time, turning their investment into a profitable venture.

2. Development Progress: Value Increases as Construction Advances

Timing is crucial in real estate. As estates develop, the value of the property rises. Key construction milestones—such as the completion of roads, utilities, and perimeter fencing—boost the worth of the estate.

At Bona Fortuna Estate, for instance, prices will appreciate further as we reach new stages in development. Buyers who get in early secure lower prices, while future investors will pay a premium as more features are added.

3. Inflation and Rising Costs of Materials

Inflation, both globally and locally, affects the cost of building materials such as cement, steel, and labor. In Nigeria, fluctuating currency rates and inflation further drive up costs.

As developers, we must adjust property prices to cover these rising expenses while maintaining the quality we’ve promised. This is why purchasing property early, before inevitable price increases, offers investors a financial advantage.

4. Upgrades and Added Amenities

At Round Peg Homes, we’re dedicated to delivering not just plots of land but fully developed, thriving communities. With the addition of top-tier amenities like gated security, recreational areas, and commercial spaces, the value of our estates naturally increases. These enhancements significantly boost both the living experience and property value, justifying price adjustments over time.

For example, Sola Fide Estate in Igbonla, Epe, is near key institutions such as Augustine University and LASUED Epe Campus. As we enhance the estate’s infrastructure and amenities, property prices will reflect these improvements.

For more insights into the long-term value of land and property development, check out our blog post: Something Will Forever Be Valuable.

As we continue to upgrade estates like Sola Fide and Bona Fortuna, their worth will appreciate, offering early investors substantial returns.

5. Supply and Demand: Investment Value

As development progresses and available plots decrease, the scarcity drives prices up. The principle of supply and demand is at play—fewer available units with high demand lead to higher prices.

Bona Fortuna Estate is selling out quickly, and as available plots diminish, prices will increase. Similarly, interest in Sola Fide Estate continues to rise, making early investment a wise financial move.

To explore available plots and learn more about our properties, visit our listings page: View Property Listings.

Epe’s Growth: A Snapshot

The Epe region is one of Lagos’ fastest-growing real estate markets, with property values steadily increasing over the last five years. Recent reports indicate:

  • A 30% annual increase in property value within key estates.
  • A 50% surge in demand for both residential and commercial land from 2020 to 2023.
  • 25% higher returns for early investors who entered during the first phase of development.

With projected growth of 40% over the next two years, Epe presents a prime opportunity for investors seeking long-term value.

Now is the Time to Invest

Price Increase Notice: Our next price adjustment takes effect on October 1, 2024. This is your chance to secure property at current prices before they go up.

Whether you’re interested in Bona Fortuna Estate or Sola Fide Estate, locking in your investment now ensures you benefit from the best prices and future appreciation. Don’t wait—invest today and secure your place in the future of Lagos.

Get in Touch: Contact us on WhatsApp or give us a call today to reserve your plot and start your journey toward land ownership.

Exciting News: Allocation Day at Sola Fide and Bona Fortuna Estates – August 31, 2024

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Tomorrow marks a significant milestone for RoundPeg Homes as we host our much-anticipated Allocation Day at Sola Fide and Bona Fortuna Estates. We are thrilled to announce that clients who have fully paid for their plots will be officially allocated their land at both of these premium estates.

What to Expect on Allocation Day

The event will be a remarkable occasion, as our valued clients will have the opportunity to see their investment materialize. At both Sola Fide and Bona Fortuna Estates, clients will be physically shown their plots, ensuring that they know exactly where their future homes or investments will stand.

A Day of Celebration

Allocation Day is more than just a formality—it’s a celebration of trust and commitment. We at RoundPeg Homes are dedicated to making this day special for our clients. Our team will be on hand to guide you through the allocation process, answer any questions, and ensure that the experience is seamless and memorable.

Your Future Starts Now

For those who have taken the bold step of securing a plot at Sola Fide or Bona Fortuna, this day signifies the beginning of a new chapter. Whether you’re planning to build your dream home or hold onto your land as a long-term investment, tomorrow’s allocation will set the foundation for your future.

Join Us

We look forward to welcoming all our esteemed clients to this landmark event. Allocation Day is a testament to our commitment to delivering on our promises and ensuring that your journey with RoundPeg Homes is a success.

Stay tuned for more updates, and congratulations once again to all our new landowners!

From Regret to Riches: How One Man’s Real Estate Leap Transformed His Financial Future

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A Client’s Confession: From Missed Opportunities to Financial Freedom with Round Peg Homes

At Round Peg Homes, we’re privileged to witness the life-changing impact of real estate investment through the experiences of our clients. One story that stands out is that of Mr. Memud Idris—a story that perfectly illustrates the potential of making informed property investments.

The Missed Opportunity

Five years ago, Mr. Idris made a decision he would later regret. After diligently saving ₦10 million, he placed it in a fixed deposit account, believing this was the safest way to secure his financial future. Like many others, he saw this as a way to protect his hard-earned money. But as time passed, he watched in frustration as the value of his savings barely increased. After five years, his ₦10 million had grown to just ₦11.5 million—an increase that did little to offset the rising cost of living in Lagos. The reality of inflation had eaten away at the purchasing power of his savings, turning what he thought was a secure investment into a missed opportunity.

A Turning Point

Realizing the need for a better strategy, Mr. Idris reached out to us at Round Peg Homes. He spoke of a friend who had invested in real estate and seen remarkable returns. The regret in his voice was palpable as he expressed his concern about continuing down a path that wasn’t yielding the results he desired.

We listened and understood his concerns. We also knew that real estate, especially in emerging areas like Epe, offered a unique opportunity for growth. With our guidance, Mr. Idris decided to take a bold step—he invested that same ₦10 million in a plot of land in Epe.

The Reward of Real Estate

Fast forward five years, and the transformation in Mr. Idris’s financial situation has been extraordinary. The plot of land he purchased has appreciated far beyond his expectations. Today, that land is valued at ₦40 million—a 300% increase. The regret that once weighed on him has been replaced with a profound sense of accomplishment and relief.

Mr. Idris now confidently refers to real estate as his “bank.” He’s invested in multiple properties across Lagos, each one contributing to his growing wealth in a way that no traditional bank account ever could.

The Takeaway

Mr. Idris’s journey from missed opportunities to financial freedom is a powerful reminder of the life-changing potential of real estate investment. While traditional savings methods might offer security, they rarely provide the growth necessary to keep pace with inflation and the rising cost of living.

At Round Peg Homes, we’re proud to have played a role in Mr. Idris’s success story. His experience is a testament to the power of informed real estate investment, particularly in high-growth areas like Epe.

Your Opportunity Awaits

If you find yourself in a similar situation—wondering how to secure and grow your wealth—consider the path that Mr. Idris took. Real estate offers a tangible, appreciating asset that can significantly enhance your financial future.

At Round Peg Homes, we’re here to guide you every step of the way. Whether you’re a seasoned investor or just beginning your journey, we’re committed to helping you achieve your financial goals. Let your story be the next one we share.

From Blueprint to Reality: A Comprehensive Guide to Developing Your Property with Round Peg Homes

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The Construction Process: A Step-by-Step Guide to Developing Your Property

At Round Peg Homes, we’ve built a reputation for excellence in both private property development and estate property projects. Our journey began with private property development, where we honed our craft by delivering over 100 beautifully constructed private residences across Nigeria. Today, we bring that same dedication and expertise to our estate property developments, ensuring each project reflects our commitment to quality and client satisfaction.

Whether you’re looking to develop a private home or invest in an estate property, understanding the construction process is key to a successful project. Here’s a step-by-step guide to how we develop properties, with special attention to the necessary permits and approvals in Lagos State.

1. Initial Planning and Design
Every successful construction project starts with careful planning. We work closely with you to understand your vision, set a realistic budget, and develop a design that perfectly suits your needs. Our experienced architects and engineers bring their expertise to bear, ensuring that every detail is meticulously planned. Whether it’s a private residence or part of a larger estate development, we guarantee that the design phase lays a solid foundation for the rest of the project.

2. Land Acquisition
Securing the right land is crucial for any development. Our team assists you in conducting thorough due diligence to ensure the land is suitable and free from legal complications. We have successfully helped clients navigate the complexities of land acquisition in Lagos, securing properties that meet their specific needs.

3. Securing Necessary Permits and Approvals
Navigating the regulatory landscape is one of the most critical aspects of property development in Lagos State. At Round Peg Homes, we’re well-versed in securing all necessary permits and approvals, ensuring that your project moves forward without a hitch. Key permits include:

  • Planning Permit: This ensures compliance with Lagos State’s building regulations, obtained through the Lagos State Physical Planning Permit Authority (LASPPPA).
  • Environmental Impact Assessment (EIA): Required for certain developments, this assessment evaluates the potential environmental effects of your project.
  • Building Plan Approval: After securing the planning permit, we submit detailed building plans to the Lagos State Building Control Agency (LASBCA) for approval, ensuring all safety and structural standards are met.
  • Infrastructure Development Charge (IDC): This essential fee supports local infrastructure, ensuring that your development contributes positively to the community.

4. Site Preparation and Foundation Work
With all permits in place, we move on to preparing the site. Our team handles everything from clearing the land to laying a strong foundation—one of the most critical stages of construction. Our extensive experience in private and estate developments ensures that this phase is executed with precision, providing a stable base for the entire structure.

5. Construction Phase
This is where your vision begins to take shape. We’re proud of our track record in delivering high-quality construction, whether it’s a private home or a property within a larger estate. Our skilled builders, electricians, plumbers, and other professionals work diligently to ensure that every aspect of the construction is completed to the highest standards.

6. Inspections and Quality Control
Throughout the construction process, we maintain rigorous quality control measures. Inspections by relevant authorities ensure compliance with all building regulations, while our own checks guarantee that the work meets our exacting standards. Our past clients can attest to the durability and fine craftsmanship that define a Round Peg Homes project.

7. Finishing and Final Inspections
The finishing phase is where your property truly comes to life. We pay close attention to detail, ensuring that both the interior and exterior finishes reflect the quality you expect. Our commitment to excellence extends to landscaping and additional features, making sure every aspect of the property is perfect. Final inspections confirm that everything is in order before we hand over the property.

8. Handover and Post-Construction
When we hand over your property, you can be confident that it meets all your expectations. But our relationship doesn’t end there. We offer post-construction services, including maintenance and ongoing support, to ensure that your property remains as impeccable as the day you received it. Our past clients have been delighted with the results, and we’re confident you will be too.

Conclusion

At Round Peg Homes, we’ve built our reputation on delivering top-quality private and estate property developments. Whether you’re developing your dream home or investing in an estate project, we guide you through every step of the construction process, ensuring a seamless experience and a final product that exceeds your expectations.

If you’re looking to buy and build a project soon, or if you already have the land and just want to build, let us do the work for you. You know where to reach us: call 08078979116 or email info@roundpeghomes.com. Let us bring your vision to life with the quality and expertise that Round Peg Homes is known for.