One of the trends in Nigeria real estate, especially in Lagos is the sale of off-plan properties. While few investors know what this means, many have no idea of what off-plan properties mean and the benefits of investing in off-plan properties.
If you’ve been observing this trend, you will notice that more of off-plan properties are storming the real estate market with different developers promising top-notch services. The problem with this type of real estate investment in Lagos is that, aside from deciding on a prime location to invest in, you wouldn’t know which developer will actually deliver on what is promised.
But first, what exactly do we mean by off-plan?
What is Off-Plan Property?
Off-plan property is a term used to describe real properties which are not in existence at the time of sale/purchase.
In simple terms, interested buyers enter into a contract to purchase a real property pre-construction based on, amongst other things, the building plan, designs and track record of the developer/seller.
So in today’s real estate investment tip, I will be showing you the way to go as I have been doing for years so you won’t lose your hard-earned money to an investment gone wrong.
In about 7 minutes down this page, you will discover 6 wonderful reasons you should start buying off-plan properties right away, the benefits and exactly where to invest in – as you already know, location is very important in any real estate investment if you are looking at the profitability aspect of it.
Buying An Offline Property in Lagos; Investments Truths You Should Know
Buying and selling off-plan properties is actually not a new thing in the Nigerian real estate market, it is however becoming an in-thing since 2020. This may be due to the economic lockdown in order to curtail the spread of coronavirus.
So all hotels were on lockdown and many tourists, travels and others looked into short-let apartments. And since then, demand for apartments has increased significantly because many now see short-let houses as a good way to feel at home while away from home.
Below are some valid reasons why you should invest in off-plan sales of properties.
#1 – You Get Lower Price Below Market Value
One good advantage an off-plan property has over a ready-to-park-in house is the lower price. There is always a juicy deal for off-plan properties because the prices are always significantly lower.
And since the project delivery time is in a few months, investors are likely to make high returns on investment as soon as possible, in terms of reselling or rental income. Like in the case of Ambiance Heights Lekki, a newly launched high rise residential development in the heart of Lekki.
#2 – Ability to Spread Payment Conveniently
The second awesome benefit of going for an off-plan house is the ability to spread payment conveniently, for up to 18 months. In some cases, you can even spread payment for up to 2 years.
Another reason this is important is that, because it takes a few months before the property is delivered, your property must have appreciated in value. This means if you want to re-sell you will be getting a higher return on your investment and if you want to rent it out you will be getting a higher rental income.
#3 – You Can Sell at Completion
This is one of the best ways to make good money in real estate. Now, think about it, imagine investing your money in trusts or other investment options available to everyone. You will get returns, but none can be compared to this because getting your returns is assured.
If you compare already-built properties with off-plan, you will discover that the price difference is huge. And since it takes a few months to get your property delivered, you will be able to sell off at the current market value at the time of delivery.
#4 – You Make Rental Income For Life
I have had several intending investors say, “I want to invest but I don’t live in Lagos”. Well, that is okay!
How about having rental income from your investment and still have that property in your asset portfolio?
That sounds great, doesn’t it?
And considering the fact that Lagos is one of the most sought after property locations in Nigeria, and that it houses the most expensive city in Africa to live in, your rental income is prone to rise from time to time.
It is only wise to invest in Lagos real estate – profitable locations, either you live in Lagos or not. And a good location to invest in is Lekki Phase 1. Check out these wonderful off-plan properties in Lekki Phase 1; Ambiance Heights, Camberwall Advantage Phase 4 and Godmade Connect Court 4.
#5 – You Can Tweak The Design of Your Unit
This should be the number one point, shouldn’t it? One of the advantages of investing in an off-plan property is that you can get the opportunity to tweak your interior design.
You can have it “as you like it”. Let’s say the initial apartment comes with one store, but you want two stores, you can commune with the company about your desired results. Only an off-plan sale affords you that luxury!
Being a part of the building process is simply fantastic.
#6 – You Can Grow Your Capital
Investing in an off-plan property provides you with a great way to grow your capital, viewing it as an investment that you have to put your funds in from time to time.
I mean, it is a wonderful way to live above inflation if you have a real asset you put your money on instead of having it sit idle in the bank.
For example, the development timeline for Ambiance Heights Lekki Phase 1 is 24 months (2 years). If you key into the 3 bedroom maisonette today for 80 million naira, by the time of completion and delivery, your property would be worth much more than N80m. It could be worth about N120m or more.
So it’s more or less like saving for some months and at the end of the day you’ve bought a 3 bedroom maisonette in Lekki Phase 1 for yourself. And to top it up, your property has appreciated in value even during the building process.
Click here to talk to me on how to buy the 3 bedroom maisonette now at the launch price of N80m today and have your money work for you while you sleep.
Now you have you it – 6 amazing benefits of buying an off-plan property.
However, this piece won’t be complete without me guiding you through which of the off-plan properties you can buy or invest in and which of the locations are best for your investment.
Off-Plan Properties You Should Buy This Year for High ROI
While speaking of off-plan properties in Nigeria, most especially in Lagos, Ogun and Abuja, you can’t but mention the fact that there are plenty of unserious real estate developers out there that are not ready to deliver quality.
So I will be doing you good by guiding you through some trusted developers, with not only luxury properties, but with a good track, quality and affordable off-plan properties for sale.
1. Ambiance Heights, Lekki Phase 1
Ambiance Heights is located off Freedom Way, off Regional Road in Lekki Phase 1.
Available off-plan units at Ambiance Heights;
- 2 Bedroom Maisonette – N70M
- 3 Bedroom Maisonette – N80M
- 4 Bedroom Penthouse with BQ – N200M (SOLD OUT)
2. Camberwall Advantage 4, Lekki Phase 1
Camberwall Advantage comes in four phases with phases 1 and 2 sold out. Phase 4 is located off Freedom Way, off Regional Way in Lekki Phase 1.
Available units at Camberwall Advantage 4;
- 2 Bedroom Apartments – N55M
- 3 Bedroom Apartments with BQ – N75M
3. Camberwall Advantage Phase 3, Ikate Lekki
The phase 3 of Camberwall Advantage is situated at Ikate in Lekki, Lagos.
Camberwall Advantage Phase 3
- 2 Bedroom Maisonette – N65M
- 3 Bedroom Maisonette with BQ – N80M
- 4 Bedroom Maisonette + Penthouse (BQ) – N130M
I believed I have done justice to the list above by giving you options based on different prime locations and pricing.
You get to choose one or more off-plan properties from either Ikoyi, V.I, Lekki, Ajah, Sangotedo, Abijo and Bogije depending on your budget. These locations are hotcakes and promises high appreciation rate.
To invest in any of the above off-plan properties or for more enquiries, contact LANDICON REALTORS here www.landiconrealtors.com or call me on +2348036129474 or click here to chat with me on WhatsApp.