What Does This Mean for Real Estate?

Lagos Floods: A Recurring Challenge

Each rainy season, social media fills with images of cars floating like paper boats on Lagos streets. The state’s Ministry of Environment has acknowledged that torrential rains combined with poor drainage and rising sea levels have increased flooding risk. Floods are not just an inconvenience; they account for roughly 40 % of all natural disasters worldwide and Nigeria is among the most vulnerable countries.

Why Does Lagos Keep Flooding?

Researchers identify several factors behind Lagos’s perennial floods: intense rainfall, blocked drainage channels, sea‑level rise, indiscriminate waste disposal, rapid urbanisation and construction in wetland. About one‑fifth of Nigeria’s population lives in flood‑prone areas. These conditions mean that even a few hours of heavy rain can inundate low‑lying neighbourhoods.

Impact on Real Estate Values

Persistent flooding can erode property values. Homebuyers and renters are wary of areas where they risk losing belongings every rainy season. Flooding reduces property desirability, leading to lower rental yields and declining market value. In 2012, floods displaced over 2.1 million Nigerians and destroyed thousands of homes. Rebuilding costs and higher insurance premiums add further pressure on property owners.

Long‑Term Resilience

Despite short‑term setbacks, Lagos’s prime real estate market has shown resilience. A recent study examining Oniru and Lekki Phase 1 between 2007 and 2024 found that while flooding events lowered land prices temporarily, rental values continued to trend upward. Investors recognise the long‑term demand for housing in these neighbourhoods and are willing to rebuild and retrofit properties after flood events. Growth depends on proactive measures from government and developers.

How Flooding Changes Buyer Demand

Recent floods are reshaping preferences. Houses located on higher ground or in well‑planned estates with good drainage command a premium because they offer safety and uninterrupted access during heavy rains. Estates such as Royal Estate and Amen Estate use paved roads and engineered drainage to prevent flooding. Their master plans include green spaces that absorb runoff, and robust utilities that continue functioning during storms. Choosing such climate‑resilient communities can protect your investment.

Protecting Your Investment

Prospective buyers should perform due diligence: inspect the topography, ask about past flooding incidents, and verify that proper drainage and building approvals are in place. Consider flood insurance to safeguard your property. Developers and government must also act—recommendations from environmental researchers include constructing embankments, desilting drains, enforcing zoning regulations to stop building on floodplains, and investing in green infrastructure like parks and wetlands.

Conclusion

Lagos floods are likely to remain part of life as climate change intensifies. However, by choosing elevated, well‑drained estates and advocating for better infrastructure, investors can manage risks and even benefit from long‑term growth in prime neighbourhoods.