₦airaland Forum

For many Nigerians, to buy land in Nigeria is one of those goals to achieve before they reach retirement age or turn unemployed. Buying land has been a form of measuring wealth in Nigeria for centuries.

As an alternative to renting a house, one option that many people consider is purchasing land to build their dream home. Also, for real estate beginners, buying property for investment will come across as one of the most promising methods of earning money from real estate.

In this article, we will be analysing the various processes you will undergo before buying land in Nigeria.

1. Determine the sort of land you want

Identify the size of the land you’re looking for. Where is it located? Inform your agent what you’re looking for. You may also specify that you don’t want any land under government acquisition.

2. Budget

You must also decide on your budget. Land prices are dependent on location. Plot size in Surulere may be different in price from a plot size in Lekki. Instruct your agent on how much you are willing to spend on land

3. Inspection

The best way to determine if the land you are interested in is as described is to physically inspect the property when you or your agent come across a possible piece of land that meets your specifications

4. Conduct a search

A land search at the relevant land registry should be conducted as soon as you find a property that meets your requirements. A land search is used to determine if the seller is the authentic owner of the property if the title presented is genuine and if the land isn’t up for sale or under contest

The sale of property with disputed titles has unfortunately taken place in situations where the property was unwittingly purchased by an unknowing buyer. This particularly happens when it involves family lands.

For a land search, one must file an application letter with an affidavit of the applicant’s status and reason for the search at the appropriate land registry

5. Execution of Deed of Assignment/Conveyance

To execute the Deed of Assignment, both parties (buyer and seller) must sign and complete the Deed of Assignment along with payment for the land. If the title of the seller is good, you may now execute the Deed of Assignment.

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Investors generate steady income streams when they invest in real estate in Nigeria. There are numerous methods by which you can earn money and build a cushion of financial stability, but there are certain loopholes that can limit your earning potential when investing in real estate in Nigeria. Therefore, conducting thorough research is crucial before getting started.

If you plan on investing in the property market, consider these steps listed in this article

1. Research
There are great sources of information about the property market in the media, online, and all around you if you are looking to buy or sell. Talk to the natives and local dwellers. You can also visit Google and other important Nigerian property websites. It’s highly recommended to have a solid knowledge of real estate before venturing into it. There is a shortage of information about real estate in Nigeria and thus your efforts are required, no matter where you are based.

2. Determine the appropriate market you want to invest in

Depending on the situation, the real estate could be commercial, industrial, retail or residential.
For example, if you’re looking for fast profits, you’d better steer clear of the residential market.
A study revealed that a mall is already sold out before it’s even finished in Nigeria, while residential units take many years before getting sold.

3. Identifying potential real estate markets

Where a highway is constructed, it eases traffic and the working class tends to move in that direction, making it a worthy cause to build high-rises to rent out to them.
What does this mean? If you have identified residential real estate as your interest, you need to target the middle class.

They may not be thriving at the moment, but due to infrastructural development and accessibility to the major business areas, this situation could soon change. Building roads can make traffic easier, and working-class people tend to go and settle in that direction, so building houses for rent is a great investment

What does this mean?
If you choose to delve into residential real estate, you need to target middle-class citizens because almost half of the middle class in Nigeria make plans to improve their standard of living. This means that there’s a potential for a consumer boom.

4. Make a decision on how to get funding to invest in real estate in Nigeria

Your source of funds may additionally differ, depending on your current status or where you are in life. It may be from family and friends, relations or financial establishments. You may also have your own money. Before going to the banks or financial establishments, ensure you already know what you’re doing. Your plan has to be feasible enough to cause them to provide you with the money.

Keep in mind that properties in the best areas of Lagos and other luxury urban areas across the country are as expensive as some western markets.

In early 2014, The Nigerian government received a $300 million loan from the World Bank to build the Nigeria Mortgage Refinancing Corporation (NMRC). I hope you can now feel its impact on liquidity and bank loans. You too can gain

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Investing in real estate industry in Nigeria is a goldmine and plays an indispensable role in our economy, it is also an investment that provides the largest source of wealth for many Nigerian families, but it also has challenges that hinder their development.

Challenges can not be avoided in any investment including the real estate industry. The Guardian newspaper pointed out that while the real estate industry has undergone some major reforms, it still faces serious challenges, which must be overcome through concerted and collective efforts.

In this article, we will discuss the various issues involved in investing in real estate in Nigeria.

1. Naira devaluation

The recent devaluation of the naira is also one of the main problems affecting the Nigerian real estate industry. This is because the Nigerian construction industry relies heavily on imports of construction materials and equipment.

The cost of purchasing these raw materials and equipment will undoubtedly increase as the naira depreciates.

Due to high operating costs, developers have to pass these additional costs onto the market if they want to remain profitable. According to industry experts, housing costs are expected to rise by 50%.

Assuming the building materials are being produced locally, the impact of the devaluation of the naira will be much smaller, thereby reducing construction costs and making these properties easily affordable for ordinary Nigerians.

2. The “Omo Onile” menance

The Omo-Onile groups and their activities especially in the western part of the country is also part of the problems affecting the real estate industry in Nigeria.

They are a headache for real estate investors, and their activities lead to increased labour costs, building material costs, and the ultimate cost of completing the construction project. They demand taxes on the building foundation, the ground fence, the gate installation, the lintel stage, the ceiling stage, and the plastering stage.

They tax builders and craftsmen, and they also tax all construction material transported to the site. All of this is enough to frustrate anyone looking towards investing in real estate.

3. The bureaucratic process of land registration

The frustrating procedures involved in the registration of property in Nigeria is one of the main challenges facing the real estate industry. Real estate developers and attorneys can attest to this challenge.

The lengthy processes of land registration in Nigeria can last up to 2 years, and cost more than 20% of the property value. In most cases, you may need to spend more than your application budget to go from one office to another. This usually undermines the business plan and greatly dissuade investors.

It also has huge impacts on development and construction which result in high housing prices that ordinary Nigerian citizens cannot afford, which has become another challenge for the real estate industry.


4. Outrageous costs of housing

House prices in major Nigerian cities such as Lagos, Enugu, Abuja and Port Harcourt are too high. This is predominant in Lagos State, this is one of the reasons why these highbrow parts of the state are mostly vacant. Some areas are crowded and some areas have a small population.

Less crowded areas are so expensive that even the middle class cannot afford to live there talk more of investing in real estate located in that area. People are now finally turning to these cheaper areas, making them overcrowded and that leaves expensive properties without tenants or buyers for many years.


5. Inadequate highly-skilled contractors and builders

Nigeria is a very lucky country. We seldom experience natural disasters like earthquakes or tsunamis. However, despite all these incidental and destructive natural disasters, our buildings in Nigeria are still collapsing.

Why? Due to our man-made infrastructure disaster, we brought it upon ourselves. Since we did not have our natural disasters to demolish our buildings, we just created our version of disasters out of ignorance and negligence.

Furthermore, many of the builders and contractors used in many construction projects are incompetent and most of them use substandard materials to earn extra money. Recent building collapses in Nigeria are generally due to non-compliance with building construction standards by developers. Proper supervision of workers can reduce these situations.

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If you are interested in buying, leasing, renting or selling a house or property in Nigeria, then you cannot overlook the significance of real estate companies in Nigeria.

Real estate companies in Nigeria are crucial when it comes to renting, buying or leasing a house or property.

When it comes to locating the right real estate company in Nigeria, it is not just about making more sales and commission. The best realtors in Nigeria give you advice and options for the house or property you want to buy, rent or lease.

People who are on a budget can also take advantage of the best discounts offered by these companies when it comes to renting, leasing, or buying a house or property.

Each property management company aims to deliver the best service to its clients.

With this article, we will highlight the top real estate companies in Nigeria that offer first-class real estate services and deliver the best real estate transactions. These are the most popular real estate companies in Nigeria in terms of client base and coverage.

1. Enugu Lifestyle and Golf City

Enugu Lifestyle and Golf City is a real estate company in Enugu, provided by international real estate companies and a network of international real estate professionals.

The most important aim of the company is to provide housing for all types of people at pocket-friendly rates

2. Kings Court Realtors

This company is a leading real estate firm located in Victoria Island, Lagos, that offers top-notch services to all customers.

They develop, manage, lease, and sell properties in Nigeria, and is one of the foremost real estate companies in Lagos.

3. Property Max Results Limited

This is a reputable real estate company recognized in Nigeria and provides services such as valuing properties, providing rental solutions, and developing property.

Their main goal is to ensure their clients are highly satisfied and to provide them with the most dedicated, informative and loyal services.

4. Adron Homes and Properties Limited

This is one land company in Nigeria that provide customers with the simplest discounted prices on landed properties. The company’s major objective is to provide the best housing and property management for every resident of Nigeria irrespective of their social status.

This is a quick-rising estate company in Nigeria that has been recognized for its great client service and therefore the company has land in places like Lekki, Ikorodu, Shimawa, Abuja, etc.

5. Jide Taiwo & Co

This is probably one of the oldest land companies in Nigeria. Despite its 40 years of existence, the corporate has been ready to retain its relevance and it’s one of the simplest land companies in Nigeria.

The company has 20 branches across Nigeria and are best known for managing large portfolios and sophisticated.

The company is very patronised by both the general public and personal sectors due to its impeccable service and it deals in project and facility management.

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Several real estate companies in Lagos exist today, but how can you choose one that is both reliable and qualified?

Many people complain about not knowing how to detect which Nigerian real estate developers are genuine to avoid getting duped.

Are you bothered about this too? Worry no more. In this article, we list the top 10 trustworthy Nigerian real estate companies in Lagos.

1. Adron Homes and Properties Limited

Adron Homes and Properties Limited provides high-quality housing services at pocket-friendly rates to help their clients acquire their suitable dream homes, irrespective of their social and economic backgrounds.

The company has more than 4,000 acres of land in areas such as Shimawa, Abuja, Lekki, Ikorodu and many others.

In addition, Adron Homes and Properties Ltd offers huge discounts on specified properties.

2. Redbrick Homes International Limited

Redbrick Homes International Limited, creative and innovative construction and real estate firm based in Nigeria, has developed Amen Estate, a full-scale, development project.

Amen Estate is one of the best real estate companies in Lagos. They are a completely new plane of quality, taste, and splendour in the Nigeria Real Estate sector. The project is intended to highlight the richness of Nigeria’s architecture.

These master-planned communities are situated in the Ibeju-Lekki area of the Lekki Peninsula in Lagos and offer a high standard of comfort and convenience.

Amen Estates offers a leisure centre including a gymnasium, pool, fitness centres, tennis court and football pitch, public parks, and gardens. The Amen Estate is a master-planned community that celebrates traditional Nigerian design and urban living.

3. Landwey Investment Limited

This company was founded in 2017 and has been passionately dedicated to improving the way real estate businesses operate by creating technological solutions that provide seamless access to all real estate, in addition to leveraging the power of an investment.

As such, they have developed over 400 apartment and home units that have been designed exquisitely. That includes developing a wider network of real estate professionals so that they can reach a wider reach and provide more support to their target clients.

4. Revolution Plus Properties

Revolution Plus Properties is one of the leading real estate companies in Lagos. It prides itself on its extensive knowledge of the real estate industry and provides its clients with the guidance and consulting services they need.

They specialize in the building of houses, sale of lands and houses, also with flexible payment plans and incentives to make acquiring properties from them easier.

They also have a lot of Products (Lands, Houses) to their name: LEKKI ROSE GARDEN, Flourish Residences, Lekki Sunrise, Richmond court and gardens, etc

5. Cadwell Limited
Cadwell focuses on luxury apartments, homes, offices, and have been in the real estate business for about 20 years.

Despite being an indigenous brand, Cadwell’s style rivals even those of international brands.

The properties they own are mainly in Ikoyi and Victoria Island, two of the most developed areas in Lagos. They have an impressive project portfolio and they cater to a high-end clientele.

A lot of Cadwell’s activities involve developing and managing properties, maintaining facilities, and marketing and selling real estate. Truly, they are among the top real estate companies in Lagos.

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There is no doubt that Nigerian real estate companies in Abuja are extremely functional and performing well in the real estate sector. A lot of businesses and firms have seen how successful the industry has been over time, and it has led them to consider it as a profitable venture.

You must hire these companies to buy or sell land properties because they are very helpful. They assist in making the process as simple as possible.

The purpose of this article is to provide you with a rundown of the most renowned real estate companies in Abuja, which will enable you to decide which firm is the best in the Nigerian capital city.

1. Jide Taiwo & Co

This company has been operating in Nigeria for many years. Jide Taiwo founded the company in 1980. Although it is over 40 years old, this company offers the best services in real estate.

Its services are offered to consumers, businesses, and institutions. Marine, rail, and aviation firms also utilize their services. There is no doubt it’s among the top real estate companies in Abuja

2. Revolution Plus Properties
They are among the best real estate companies in Abuja. In the past five (5) years, they have been involved in the Nigerian real estate industry. While that may be, Revolution Plus has had tremendous success in Nigeria.

Some of their properties in Abuja include:

The grandeur, Abuja GRA
Royalty park and gardens – Keffi, Abuja
Hillcrest Estate, Sabon – Lugbe, Abuja

3.Adron Homes and Properties Limited
Adron Homes and Properties Limited can help you realize your dream house if you are a luxury addict. Seeing the design, layout, and layout of the site, as well as the serene environment, is a sight to behold.

According to their achievements, they are striving to be the world’s leading pan-African property development company providing quality, affordable, accessible, comfortable, and accessible housing. Truly, Adron Homes deserves a top spot among real estate companies in Abuja.

4. Landwey Investment LTD
A leading real estate company, Landwey is one of the top real estate companies in Abuja. It is easy for most people to own a home with their flexible payment plans.

They have also won several awards like:

Real Estate Investment Company of the Year 2019 (Business Day Leadership Award)

5. Sterling Constructions Limited
Sterling Construction limited is another significant and authentic real estate company with headquarters in Abuja. They are mostly into heavy civil construction jobs.

A wide range of government homes and projects are part of this company’s range of services. They are quiet executioners who do not believe in wasting time and energy on mediocrity but aspire to achieve success and great results.

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