Lagos is an investment haven; it is one of the most attractive places for real estate investment in Africa. This is where real estate dreams are forged in concrete and steel. Amid rapid urbanization and an exploding population, property development has become one of the most resilient and lucrative sectors. It is driven by demand – people will always need houses.
At the forefront of this surge is off-plan property investment—the opportunity to buy homes before they’re completed. Whether you’re looking for a luxury apartment from which to earn rental income, or a haven of peace for your family, off-plan housing offers a doorway into Lagos’s high-demand property market with flexible terms and long-term value. This guide explores everything you need to know before taking the plunge.
What Is an Off-Plan Property?
Off-plan property refers to real estate—usually residential—that is sold prior to its completion. Buyers commit to purchase homes based on architectural designs, 3D visualizations, or prototype models, typically paying in tranches throughout the construction phase. This is a a unique opportunity because it offers many great benefits. But first there are some things that make Off plan houses what they are. These are some key characteristics:
Key Characteristics
Sold based on plans, not finished structures
Payment is usually done installmentally over 6–24 months
Opportunity to select internal finishes and layouts
Lower cost compared to completed homes
Developers may offer promotional pricing during early phases
Off-plan housing allows buyers to benefit from pre-construction pricing, which can be considerably more affordable than buying a finished property. That’s a major draw in a city like Lagos, where land prices and construction costs are consistently on the rise.
Benefits of Buying Off-Plan
If you’ve got a clear vision and patience, off-plan housing may be your ticket to owning property with maximum value. Here’s why it works:
1. Lower Entry Costs
Buying off-plan often comes with introductory prices 10–30% lower than the completed market rate. This makes high-end areas like Lekki or Ikoyi more accessible.
2. Flexible Payment Plans
Instead of shelling out the full property value upfront, buyers can pay in stages—monthly, quarterly, or milestone-based payments spread over time.
3. Customization
Most developers allow buyers to choose tile colors, kitchen styles, and lighting designs. You get a home tailored to your taste before it’s even built.
4. Higher Capital Appreciation
By the time construction is completed, property values may have appreciated significantly, especially in rapidly developing zones like Ibeju-Lekki. Some residents of those areas today would not have been able to afford their houses if they had waited till the houses were completed.
5. Developer Incentives
Early birds sometimes enjoy extra perks like free legal documentation, discounted finishing upgrades, or extended payment windows.
Hot Off-Plan Offers Right Now in Lagos
Several parts of Lagos have emerged as prime targets for off-plan development, catering to varying income brackets and lifestyle preferences.
Palazzo Royale
Palazzo Royale is located at Eleko. This means the estate has enough distance from the commercial districts of Lekki; it is calm and serene. Good enough for those who want to live in peace. But Eleko is still within a few minutes from some of the commercial and recreational hotspots in Lekki; including malls, cinemas, supermarkets, beaches, gas stations, and so on. In fact, there are some interesting landmarks such as the Pan – Atlantic University, Free Trade Zone, Eleko Junction, and Lakowe Golf Resort.
Pricing:
300 Square Meters: N16.5Million
500 Square Meters: N26Million
1000 Square Meters: N61 Million
The Emerald Ogombo
The Emerald Ogombo is a new housing development located at Ogombo; which is along the Lekki-Epe Expressway. The estate is very close to the express road, and just a few minutes from the major commercial and recreational hubs in the area. There are malls, gas stations, supermarkets, schools, a police station, and a few beaches in the area. This is also a few minutes from the proposed Lekki International Airport.
Pricing:
Prelaunch Price: N100 Million
Launch Price: N110 Million
Initial Deposit: N15 Million
The investment is secured by a C of O documentation.
AY Homes Luxury Bungalow Ibeju Lekki
AY Homes Luxury Bungalow is a new housing development that is just coming into the market. It is designed to be a community of luxury houses for luxury people. The location is Ibeju Lekki. This means the estate has enough distance from the commercial districts of Lekki; it is calm and serene. Good enough for those who want to live in peace. But Ibeju Lekki is still within a few minutes from some of the commercial and recreational hotspots in Lekki; including malls, cinemas, supermarkets, beaches, gas stations, and so on. In fact, there are some interesting landmarks such as the Pan – Atlantic University, Free Trade Zone, Eleco Junction, and Lakowe Golf Resort.
Pricing:
N70 Million – 4 Bedroom Fully Detached Bungalow
N15 Million Initial Deposit
Please note that starting from June 30th, 2025, the price becomes N80 Million.
The investment is secured by a C of O documentation.
Mowe Golf Town
Mowe Golf Town is a new housing development with a difference. As the name implies, it is a golf course and a residential estate – an estate for golf afficionados. Therefore, everything about the estate revolves around the golf course. This means the estate is going to get visitors at least on a weekly basis, as residents from other estates come in to try their hands at golf.
Pricing:
Green Residence
Here there are two categories of buildings:
2 Bedroom Semi Detached Bungalow which costs: N35,000,000.
3 Bedroom Fully Detached Bungalows which cost: N45,000,000.
Documentation Fee: N2,500,000.
Initial Deposit: N5,000,000.
There is Also Land Available, and the prices are below:
Creek View
300 Square Meters at N7,500,000.
500 Square Meters at N12,000,000.
Documentation Fee: N3,000,000.
Initial Deposit: N1,000,000.
Commercial Village
500 Square Meters at N25,000,000.
Documentation fee: N3,000,000.
Initial Deposit: N3,000,000.
Risks and How to Manage Them
While the benefits are attractive, off-plan comes with its own set of challenges that buyers should be ready to navigate.
Construction Delays
Delays due to funding issues, approvals, or logistics can postpone handovers.
Solution: Sign contracts with clear timelines and clauses about delivery penalties.
Quality Concerns
The finished product might not match the glossy brochures.
Solution: Visit previous projects from the developer; insist on site inspections during construction.
Developer Default
There’s always the risk that a developer may abandon the project mid-way.
Solution: Check for government approvals, registered title documents, and reputable track record.
Market Fluctuations
External economic factors could affect property prices, currency value, or mortgage interest rates.
Solution: Look at long-term trends and be strategic about location and demand patterns.
Hidden Charges
Some developers do not disclose full costs upfront—things like documentation, external works, and taxes may surprise buyers.
Solution: Request a detailed bill of quantities and legal counsel before signing off.
How to Verify a Good Off-Plan Deal in Lagos
Not every flashy listing leads to a dream home. Here’s a checklist to help you shine your eyes:
| Criteria | What to Look For |
|—————————–|——————————————————–|
| Developer Reputation | Previous completed projects, client testimonials |
| Legal Documentation | Approved building plan/governors consent/CofO/ deed of assignment|
| Project Status | Construction progress, milestones already achieved |
| Payment Terms | Flexibility, extra charges, refund policies |
| Location Viability | Proximity to expressways, malls, schools |
| Exit Strategy | Ability to resell or sublet; market liquidity |
You may also involve a real estate lawyer or certified broker to verify claims and documentation. With property scams on the rise, due diligence is non-negotiable.
It is also a good idea to see that the estate is at least half completed before buying a building.
Summary: What The Offplan Market Is All About
Off-plan homes offer a blend of affordability, customization, and investment potential that’s hard to beat in Lagos’s competitive property market. However, it requires foresight, patience, and a healthy dose of street smarts. If you’re ready to think beyond the present and shape your future in bricks and mortar, then the off-plan route might be your most strategic move yet.
What To Do Next?
If any of these estates and developments catches your eye, then reach out to Bestate Property Investment for inspection, or a tour of available off-plan houses and apartments in choice estates and developments around the city. Bestate also has a collection of houses, lands, offices and warehouses in top locations like Lagos, Ibadan, Abuja, Port Harcourt, Enugu and Owerri, as well as options in exclusive destinations like Dubai.
Call Bestate on 08090651344, and start your journey to a Real Estate Empire.
