Current Cost Of Buying And Selling Land In Akure, Ondo State (Updated Prices, 2025)
Akure, the capital of Ondo State, has emerged as one of the fastest-growing real estate markets in southwestern Nigeria. With its expanding infrastructure, proximity to major cities like Lagos and Ibadan, and a steady rise in commercial activities, Akure presents a great opportunity for land investors, homeowners, and businesses.
Whether you are looking to buy or sell land in Akure, it is crucial to stay informed about current market prices, factors affecting land value, and legal considerations to ensure a profitable and secure transaction. This guide provides updated 2025 land prices and expert insights to help you navigate the Akure real estate market.
Why Invest in Land in Akure?
Before we dive into the current land prices, here are some key reasons why Akure is a top destination for real estate investment:
1. Strategic Location
Akure serves as a gateway between southwestern and north-central Nigeria. Its accessibility via the Benin-Owo-Akure Expressway and the Akure Airport makes it attractive to investors.
2. Growing Real Estate Market
With an increasing number of people migrating to Akure for business and education, demand for land and housing is rising, making it a lucrative investment option.
3. Affordable Land Prices
Compared to cities like Lagos and Abuja, Akure offers relatively lower land prices, making it a cost-effective alternative for property buyers.
4. Government Support for Development
The Ondo State Government has been actively investing in road construction, industrial zones, and housing projects, boosting land value.
5. Thriving Economy
Akure is home to agriculture, trade, and growing tech startups, creating more opportunities for residential and commercial property development.
Factors Influencing Land Prices in Akure
Land prices vary across Akure based on several factors, including:
1. Location
- Prime Locations (Expensive) – Alagbaka GRA, Ijapo Estate, and Oba-Ile
- Developing Areas (Moderate Prices) – Orita-Obele, FUTA North Gate, and Shagari Estate
- Outskirts (More Affordable) – Airport Road, Ijare, and Osi
2. Type of Land
- Residential Land – Higher demand in estates and developed areas
- Commercial Land – More expensive in business hubs
- Agricultural Land – Cheaper in rural areas
3. Infrastructure & Accessibility
- Proximity to paved roads, schools, hospitals, and business districts increases land value.
- Areas near Akure Airport and major expressways attract premium prices.
4. Land Documentation
- Lands with a Certificate of Occupancy (C of O) are more expensive but legally secure.
- Untitled land is cheaper but may have ownership risks.
Current Land Prices in Akure (2025 Update)
Here is an estimate of land prices based on recent market trends:
1. Residential Land Prices
- Average Price: ₦1,650,000 per plot
- Price Range: ₦1,200,000 – ₦5,500,000 per plot
- Prime Locations (Alagbaka, Ijapo Estate): ₦4M – ₦10M per plot
- Developing Areas (Oba-Ile, FUTA Road): ₦2M – ₦5M per plot
- Affordable Areas (Ijare, Airport Road): ₦800,000 – ₦2.5M per plot
2. Commercial Land Prices
- Alagbaka GRA (Near St. Jacob’s Hotel) – ₦100,000,000 for 2,224 sqm
- Parliament Estate, Alagbaka – ₦25,000,000 for 2 plots
- Oba-Ile Road – ₦5,000,000 per plot
3. Mixed-Use Land Prices
- Alagbaka GRA (On Tarred Road) – ₦75,000,000 for 1,441 sqm
- Airport Road (Oba-Ile Axis) – ₦5,000,000 per plot
- FUTA Road (North Gate Area) – ₦3,500,000 per plot
4. Agricultural Land Prices
- Ijare (Farmland Area) – ₦600,000 per plot
- Osi (Near Airport Road) – ₦800,000 per plot
- Idanre (Close to Cocoa Plantations) – ₦500,000 per plot
(Note: Prices may vary based on market conditions and negotiations.)
How to Buy Land in Akure
Thinking of buying land in Akure? Follow these six essential steps:
Step 1: Define Your Purpose
Are you buying land for:
✅ Residential purposes
✅ Commercial investment
✅ Agricultural use
Step 2: Set a Budget
Consider:
- Land cost
- Survey & documentation fees
- Development expenses
Step 3: Research & Compare
- Visit different locations to compare prices.
- Check listings on real estate websites and contact property agents.
Step 4: Verify Ownership & Documentation
- Confirm land title (C of O, Deed of Assignment, etc.).
- Conduct a search at the Ondo State Land Registry.
Step 5: Make Payment Securely
- Use a real estate lawyer for transaction oversight.
- Make payments via bank transfer for proper documentation.
Step 6: Register the Land
- Register the land under your name at the Ondo State Land Bureau.
How to Sell Land in Akure
If you own land in Akure and want to sell, follow these steps:
Step 1: Determine Your Land’s Value
- Get a real estate valuation to price your land competitively.
Step 2: Ensure Proper Documentation
- Make sure you have a valid land title (C of O, Deed, or Survey Plan).
Step 3: Market Your Land
- List on real estate platforms like Nigeria Property Centre and Jiji.ng.
- Work with trusted real estate agents to attract buyers.
Step 4: Negotiate & Close the Deal
- Use a lawyer to draft a Sales Agreement.
- Transfer ownership legally through the Ondo State Land Bureau.
Frequently Asked Questions (FAQs)
1. Is it safe to buy land in Akure?
Yes, but ensure the land has proper documentation (C of O, Governor’s Consent, etc.) and verify ownership before purchase.
2. Can I buy land in Akure without visiting?
Yes, but you should hire a trusted real estate agent and lawyer to oversee the process.
3. How do I check if land is government-approved?
Visit the Ondo State Land Registry to verify land ownership and approval status.
4. What is the cheapest area to buy land in Akure?
Areas like Ijare, Airport Road, and Osi offer more affordable land options.
5. How long does land registration take in Ondo State?
Land registration can take a few weeks to several months, depending on processing speed.
Final Thoughts
Akure’s real estate market offers great opportunities for investors, businesses, and homeowners. Whether you're buying or selling land, having the right information and taking the necessary legal steps will help you make a profitable and secure investment.
If you're looking for trusted real estate agents or updated listings, start exploring your options today!
