6 Best Ways to Buy an Off-Plan Property in Lagos

Knowing the right ways to buy offplan property in Lagos can be the difference between a smart investment and a costly mistake.

By subscribing to a project before construction is done, investors often secure lower prices, flexible payment options, and impressive capital appreciation once the property is delivered.

However, not every offplan deal turns into a success story. Many investors lose money because they choose the wrong developer, ignore due diligence, or fail to understand how offplan property investment in Lagos really works.

In this guide, we’ll explore six proven and safe ways to buy offplan property in Lagos, plus trusted strategies that help you minimize risks of offplan, secure great deals, and maximize profit even before the project is completed.

The Best Ways to Buy Offplan Property in Lagos

1. Buying Offplan Properties Directly from the Developer

One of the most reliable ways to buy offplan property in Lagos is to purchase directly from the developer, usually during the pre-launch or early construction stage. This is when prices are lowest, and the payment terms are most flexible.

Buying early means you can lock in discounted prices, longer payment plans, and often get the first pick of the best units and views before prices rise.

Developers sometimes offer up to 10–30% lower prices for early buyers. This is why smart investors are choosing offplan.

Example: A savvy investor who bought an offplan apartment in Sangotedo for ₦60 million during launch could see its value rise to ₦85 million by completion, earning millions in equity before even moving in.

Pros

• Cheapest entry point
• Flexible payment structure
• Priority choice of unit and design

Cons:

• Risk of project delay or poor delivery
• Requires strong due diligence on the developer

Pro Tip: Before making a deposit, check the developer’s portfolio, approvals, and escrow system. Established names like Victoria Crest Homes have proven delivery records and transparent processes that give investors peace of mind. If you need offplan properties from a verified developer, call 07046118960 now to speak to one of our reps.

2. Buying Through an Accredited Real Estate Agent or Brokerage

Another smart and safe way to buy offplan property in Lagos is through an accredited real estate agent or brokerage. 

These professionals act as a bridge between you and verified developers, ensuring your investment is both legitimate and profitable.

A good agent does more than just find listings; they negotiate better deals, verify property titles, and review contracts to make sure you’re protected. For diaspora investors, especially, working with trusted agents helps prevent scams and ensures smooth communication throughout the buying process.

Pros of Buying Offplan Property Through an Agent

• Access to vetted offplan projects and exclusive developer discounts
• Guidance on legal documents, pricing, and developer credibility
• Saves time and reduces costly mistakes

Cons:

• Some agents charge extra commission or service fees
• Working with unverified agents can expose you to fraud

Pro Tip: Per the Lagos state government’s 2025 tenancy law, always confirm that your agent is registered with REDAN or part of a reputable real estate company. Ask for their developer partnerships and review their previous client transactions. For buyers abroad, it’s best to use licensed Lagos-based agents who can represent you locally and provide updates through virtual tours or video inspections.

3. Through Mortgage Banks

Another effective way to buy offplan property in Lagos is by using a mortgage bank. This approach is ideal for investors or homebuyers who want to own property without paying the full amount upfront.

Here’s how it works: You make an initial deposit—usually between 20–30% of the property value—while your mortgage bank finances the remaining balance either during construction or after completion.

Many developers in Lagos now partner directly with banks such as Access Bank, FCMB, and Sterling Bank to offer seamless offplan mortgage options.

This structure makes property ownership more accessible, especially for salary earners and structured-income investors. Instead of depleting your savings, you spread payments over several years while your asset appreciates.

Pros of Buying Offplan Property Via a Mortgage Bank

• Reduces upfront financial burden
• Enables long-term real estate investment through structured repayment
• Offers financial security since banks vet the developer’s credibility before financing

Cons of Buying Offplan Property Via a Mortgage Bank

• Requires a strong credit history and proof of stable income
• Some mortgage options come with interest charges and administrative fees
• Limited availability for self-employed or informal-sector buyers

4. Buying Offplan Property Through Joint or Co-Ownership Purchase

If you’ve ever dreamed of owning property in Lagos but found the upfront cost intimidating, joint or co-ownership is one of the practical ways to buy offplan property without overstretching your budget.

This method involves pooling funds with friends, family, or trusted investors to purchase an offplan unit together.

Each person owns a share proportional to their investment, which can later be divided, sold, or leased for returns. 

It’s becoming a popular approach among young professionals and diaspora investors who want to enter the market strategically. This is also similar to the modus of syndicates that pool funds together to own and run a high-end real estate project.

Example: Two Lagos-based friends buy an offplan terrace for ₦120 million, splitting the cost 50/50. By the time construction is completed, the property is worth ₦160 million, giving them both a healthy return.

Pros:

• Reduces financial pressure and increases affordability
• Allows access to premium offplan projects that may be out of individual reach
• Shared risks and potential for higher collective returns

Cons:

• Requires strong legal documentation to prevent disputes
• Decision-making can be slow when multiple owners are involved
• Profit-sharing must be clearly agreed upon from the start

Pro Tip: Instead of a “gentleman’s agreement,” always create a Joint Ownership Agreement or Special Purpose Vehicle (SPV) with legal backing. This protects all parties and ensures transparency in ownership rights, profit distribution, and exit clauses.

5. Buy Through Real Estate Investment Platforms

If you’re looking for a hands-off but secure way to buy off-plan property in Lagos, consider investing through regulated real estate investment platforms or Real Estate Investment Trusts (REITs).

These platforms pool funds from multiple investors to finance large-scale developments (including off-plan housing projects) managed by professional real estate firms.

By doing this, you can invest in promising developments without directly handling construction risks, documentation, or project management.

This approach is especially ideal for busy professionals or first-time investors who want real estate exposure with lower risk, predictable returns, and minimal involvement in day-to-day management.

Pros:

• Lower entry cost compared to direct property purchase
• Reduced risk through professional management and diversification
• Transparent oversight and regular financial reporting
• Passive income potential and long-term appreciation

Cons:

• Limited control over investment decisions
• Returns may be lower than direct property ownership
• Liquidity can vary depending on the REIT or platform structure

Pro Tip: Always check for SEC registration, developer partnerships, and transaction transparency before committing funds. Trusted platforms disclose financial statements and provide legal documentation for every investment.

Key Difference Between the Average Real Estate Investment Platform and REITS

6. Owning Offplan Through Assignment or Resale of Off-Plan Units

Another way to buy off-plan property in Lagos is through assignment or resale purchase.

This means buying from an early investor who initially bought directly from the developer but now wishes to sell before project completion.

For example, an investor who bought an off-plan apartment at ₦50 million during the foundation stage may decide to resell at ₦60 million once the structure is halfway up, allowing a new buyer to still get the property below the final market value.

However, while this can be a profitable and time-saving route, it requires careful verification. Buyers must ensure the assignment process is legally executed, the developer approves the transfer, and all documentation (including payment receipts and allocation letters) is in order.

✅ Pro Tip: Always involve a real estate lawyer to verify the resale agreement and ensure the developer officially recognizes you as the new buyer.

Pros:

• Can secure property below the completed market value
• Shorter waiting period compared to buying from scratch
• Opportunity to benefit from price gains even before completion

Cons:

• Higher risk of fraud or unverified ownership
• Possible transfer or reassignment fees from the developer
• Limited flexibility to change payment terms or finishing options

What’s the Best Way to Buy an Off-Plan Property in Lagos?

The best way to buy an off-plan property in Lagos is to buy directly from a reputable developer like Victoria Crest Homes. 

This gives you first-hand access to verified project details, early-bird prices, and flexible payment plans that brokers or middlemen might not offer.

When you buy directly, verify the developer’s track record, inspect project approvals, and monitor construction progress closely, reducing the risk of fraud or hidden costs. Many trusted developers in Lagos also work with escrow systems and partner banks, adding extra layers of security for your investment.

Buying directly from the developer ensures transparency, better negotiation terms, and early access to premium units. For investors looking to build wealth safely through real estate, it’s the smartest and most secure way to buy offplan property in Lagos.

Ready to explore the best offplan deals in Lagos? Click here to speak with one of our experts.