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By Agatha Emeadi
A real estate investment expert, Ozioma Deborah Hilary, has said real estate investment has evolved into long-term wealth preservation strategy rather than mere acquisition of physical property.
The real estate investment advisor who spoke on evolving trends in Nigeria’s property market, said successful real estate investment had historically been driven by understanding where businesses, professionals and economic activities are concentrated.
She noted that prime locations in Lagos had shifted over the decades, from areas such as Ikoyi, Yaba and Surulere that once dominated the market before Victoria Island emerged as one of the country’s foremost commercial and residential hubs.
According to Hilary, the migration of international banks, multinational corporations, oil and gas firms, luxury hotels, embassies, consulting firms and technology companies to Victoria Island, significantly increased demand for premium residential properties in the area.
“Decades ago, the most sought after addresses were Ikoyi, Yaba and Surulere. But when Lagos expanded economically, businesses began to migrate towards Victoria Island as international banks established their headquarters there. Likewise, oil and gas industries, embassies, luxury hotels, consulting firms, corporate headquarters, information technology companies, law firms and corporations chose the same destination. That movement was never accidental. Where businesses establish themselves, professionals follow and where professionals live, demand for quality housing continues to rise,” she said.
She also added that the relationship between economic activity and property appreciation has been evident in major global cities, including London, Dubai, Singapore and New York.
She argued that investors seeking long-term returns increasingly prioritise locations with sustained commercial relevance over lower-cost properties in less strategic areas.
Despite periods of economic recession, inflation and currency volatility, she maintained that Victoria Island has continued to attract investors because of its unique combination of commercial activity, luxury living and international business presence.
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She also observed that investor preferences had evolved beyond property ownership to include assets capable of preserving wealth, generating rental income and attracting corporate executives, expatriates and globally mobile professionals.
According to Hilary, this shift in investment priorities informed the development of SOL by Elara, a premium residential project located in Victoria Island.
She described the development as an investment-focused residential project designed to combine modern architecture, functional living spaces, premium finishes and lifestyle amenities within one of Lagos’ most established real estate corridors.
Hilary said the limited availability of land in Victoria Island continues to strengthen the area’s long-term investment appeal, making prime developments increasingly scarce.
Reflecting on historical market trends, she noted that many investors, who acquired property early in Victoria Island have benefited from sustained appreciation in property values.
Looking ahead, she expressed optimism that continued infrastructure development, business expansion and foreign investment would further reinforce demand for premium urban housing in Lagos.
She encouraged prospective investors to adopt a long-term perspective when evaluating real estate opportunities, describing informed investment decisions as essential to building lasting wealth.
In conclusion, she said: “Real Estate should be viewed not merely as ownership of property but as a strategic asset capable of preserving capital and creating generational wealth.”
