Name: Al-Wajud Properties
Price range: ₦₦₦
Rating: 5.0

Step 1: Define Your Budget and Purpose

Before you search listings, answer two questions: What is your maximum all-in budget? (Include legal fees at ~3–5% and agency fees at 5–10% of purchase price.) And what is the purpose? Personal use, rental income, or capital appreciation require different locations and property types.

A realistic entry point for a verified Lagos property in an established estate starts around ₦45–80 million for a 1-bed apartment. In Lekki or Ajah, 2-bed apartments in gated estates range ₦80–180 million depending on developer and finish.

Step 2: Choose Location Based on Purpose

Match location to your investment logic:

Rental income: Lekki Phase 1, Victoria Island, Gbagada
Capital growth: Ajah, Sangotedo, Ibeju-Lekki
Personal use / holiday home: Ikoyi, Banana Island, Lekki Phase 1

Step 3: Verify Developer and Title

This is where most first-timers skip steps and pay for it. Checklist before committing:

Confirm developer has minimum two fully delivered projects
Request the land title (C of O or Governor's Consent) and verify with Lagos State Land Registry
Engage your own solicitor — never rely on the developer's lawyer alone
Confirm estate management structures (service charge, security, facilities management)

Step 4: Negotiate, Agree Terms, Sign

Key documents in a Lagos property transaction:

Letter of Offer — records agreed price and terms
Contract of Sale — binding agreement; review carefully
Deed of Assignment — transfers title; must be registered
Receipt — for all payments made

Never make cash transfers without paper documentation at every stage.

Investment Disclaimer

The information in this article is for general educational purposes only and does not constitute financial or investment advice. Property values, rental yields, and ROI figures are illustrative. Past performance is not indicative of future results. Always seek independent professional advice before investing. Read our full disclaimer →