Boom Returns To South-East Property Market As Security Improves, Diaspora Cash Flows In
By IKE UZOR-NZUBECHI
AFTER years of insecurity and economic lull, the real estate market in Nigeria’s South-East is roaring back to life. The once-stagnant property landscape is now witnessing a dramatic surge in land values — in some cases, by more than 100 percent — as improved security, better infrastructure, and strong diaspora remittances fuel renewed investor confidence.
Land purchases now account for over 60 percent of property transactions across the region, with cities like Enugu, Umuahia, Owerri, and Awka seeing heightened demand. The turnaround is largely credited to state governments’ aggressive push on infrastructure and the steady return of peace after years of disruption by violent attacks linked to so-called “unknown gunmen.”
Security and Infrastructure Drive Demand
In Enugu, Governor Peter Mbah’s administration has embarked on an ambitious ₦183 billion urban renewal drive that includes the rehabilitation of 141 roads across 13 zones. Old markets and motor parks are being replaced with modern facilities, boosting trade and urban mobility. The ripple effect has been a sharp spike in land prices — even in semi-urban and rural communities.
“In the last two years, we’ve seen land prices jump by over 100 percent,” said Kennedy Chukwuemeka, a property agent in Enugu. “In the Nike Lake Resort area, plots that sold for ₦8–11 million now go for ₦20–25 million. Most of the demand is from Nigerians abroad who are seeing improved security and want to invest back home.”
For many indigenes living in cities like Lagos and Abuja, recent waves of property demolitions have spurred a rush to acquire land in their ancestral states. “It’s almost a scramble,” Chukwuemeka added. “Some people are buying to build homes, while others are buying purely as an investment.”
From Aba to Owerri, the Market Heats Up
Across Abia and Imo States, similar trends are emerging. Governor Alex Otti’s administration in Abia is fast-tracking infrastructure development and simplifying land documentation to attract investors. Urban renewal in Aba and Umuahia has already triggered rising interest in commercial and residential land.
In Imo, ongoing road reconstruction — particularly the Owerri–Umuahia axis — is enhancing accessibility and raising land prices in Owerri’s suburbs. “Land values in Owerri and surrounding areas have appreciated by over 80 percent in just two years,” said James Nwokike, a realtor. “Plots that were ₦12 million last year are now selling for about ₦20 million — and even then, landowners are reluctant to sell.”
Diaspora Dollars and Local Gains
The steady flow of remittances from the South-East diaspora has been a key driver of this real estate rebound. Families abroad are pooling funds to buy land, while retirees and middle-class investors are shifting savings into property.
Okechukwu Idoko, a retired civil servant in Nsukka, shared his experience: “I bought a plot for ₦2.5 million in 2022 and sold it last month for ₦11 million. Land is the most viable investment now.”
Experts See a Sustained Upswing
Real estate experts say the resurgence could be long-term if current reforms continue. Hyginus Diyoke, an estate surveyor and valuer, believes the renewed confidence reflects growing optimism about the region’s economic future.
“State governments are investing in infrastructure and creating friendlier business environments,” Diyoke said. “As security improves, housing demand rises, and that directly translates into higher land values. The South-East is clearly reawakening.”
For now, optimism runs high. From bustling Enugu to rejuvenated Aba and Owerri, land has once again become the new gold — a sign that the South-East, once defined by tension and uncertainty, is rebuilding its future one plot at a time.
