Step-by-Step Guide: How Nigerians Abroad Can Safely Buy Property in Lagos : A guide to Safe real estate investment From Scammers
1. Know Your Property Goals
2. Research the Lagos real estate market
3. Work with trusted realtor or real estate Firm
4. Work with Reputable Developers and Companies
5. Conduct proper due diligence
6. Use secure payment Channels
7. Get all documents signed and delivered
8. Appoint a trusted representative
9. Plan your property management
Introduction
Buying property in Lagos is one of the smartest investments Nigerians and Nigerians in the diaspora can make. Lagos is Nigeria’s commercial hub, with rapidly growing real estate opportunities—from top luxury apartments in Ikoyi and Victoria Island to affordable homes in Lekki and mainland and land banking opportunities across the mainland, Ajah and Epe.
But while the opportunities are massive, many Nigerians abroad fear losing money to real estate scams or unreliable agents. This guide will walk you step-by-step through how to safely buy property in Lagos from abroad, ensuring your investment is secure and profitable.
1. Know your property Goals;
When you define your property goals, you’re basically deciding why you want to invest or buy a property and what you want to achieve. For example:
Residential Use: Do you want a home to live in, or an investment property, are you planning to return home or buying for the family?
Are you looking for short-term rental income (like Airbnb) or long-term value appreciation?
Do you prefer land banking, luxury apartments, or commercial spaces?
What’s your budget and timeline for achieving this goal?
By being clear about your goals, it becomes easier to choose the right property, location, and financing plan that fit your needs.
2. Research the Lagos Real Estate Market
Knowledge is your first protection. Study property hotspots like:
Ikoyi & Victoria Island – Prime luxury apartments and duplexes.
Lekki Phase 1 – Chevron – A blend of luxury and mid-market homes.
Ajah & Ibeju-Lekki – Growing areas with land banking opportunities.
Understanding Property Prices in Lagos
Knowing property prices in Lagos helps you make smarter real estate decisions. A property in Ikoyi or Victoria Island may cost more than one in Lekki, Chevron, or Oniru, but price alone doesn’t equal value. Factors like amenities, infrastructure, and property titles (C of O, Governor’s Consent, Excision) all affect pricing.
Remember: expensive doesn’t always mean better, and cheap doesn’t always mean a good deal. Smart investors compare prices across neighborhoods to find the best opportunities—whether it’s a luxury apartment in Ikoyi, a duplex in Lekki, or a shortlet property in Victoria Island.
3. Work with a Trusted Realtor or Real Estate Firm
One of the biggest challenges Nigerians abroad face is falling into the hands of fake agents. Always:
Verify that your realtor or firm is registered with Lagos State Real Estate Regulatory Authority (LASRERA).
LASRERA helps regulate real estate in Lagos, but not all genuine realtors are registered yet. Many new agents who market verified properties from trusted companies may still be in the process of registering. This doesn’t make them fraudulent.
What matters most is transparency: providing verifiable property documents, due diligence, and safe connections to genuine developers. For Nigerians abroad, LASRERA registration is a good checkpoint—but true safety comes from working with realtors who value honesty and accountability.
Prefer forms/realtors that offer video tours and virtual inspections so you can see properties remotely
4. Work with Reputable Developers and Companies
Many scams come from fake and individual sellers, not the actual property companies. Always confirm that the realtor is marketing genuine properties from well-known and established developers in Lagos.
5. Conduct Proper Due Diligence
Never rush into buying. Confirm that:
The property has a valid title (C of O, Governor’s Consent, Deed of Assignment).
The land is free from government acquisition or litigation.
The seller is the rightful owner.
Key Documents to be Requested from the Agent/firm for verification of title includes:
1. Certificate of Occupancy (C-of-O) or registered Title Deed (if available).
2. Deed of Assignment or Sale Agreement.
3. Governor’s Consent for any prior assignments (if the title is a C-of-O — subsequent transfers normally require consent).
4. Registered survey plan / cadastral information.
5. Receipts for payment of all rates/ground rent/taxes (if applicable).
6. Approved building plan (for houses/blocks) and evidence of completion/occupancy where relevant.
7. Evidence of no encumbrance: certified search or land registry clearance if available.
Your lawyer should: run Land Registry searches, confirm the chain of ownership, check for mortgages/caveats/ongoing suits, prepare the deed of assignment, apply for Governor’s Consent where needed, arrange stamp duty and register the transfer. These are specialized tasks — don’t DIY.
6. Use Secure Payment Channels
Avoid sending money to personal accounts. Instead:
Pay through the developer’s or real estate company’s official business account.
Ask for a payment receipt and contract of sale.
Where possible, use escrow services so funds are only released after documentation is verified.
7. Get All Documents Signed and Delivered
Your lawyer should ensure you receive:
Deed of Assignment or Sales Agreement.
Receipt of Payment.
Survey Plan (if buying land).
Title document (C of O or Governor’s Consent).
Keep scanned copies in secure storage and request hard copies be sent to you.
8. Appoint a Trusted Representative (Optional)
If you cannot be present in Lagos:
Give a Power of Attorney to a trusted family member or legal representative to act on your behalf.
Ensure they only follow written instructions from you.
9. Plan for Property Management
If you’re buying for rental income or as a holiday home:
Hire a registered property management company/Form in Lagos to handle tenants, maintenance, and rent collection.
Get regular updates on your property via email or video reports.
Common red flags / scams
Seller cannot produce original title documents on request.
Seller insists on cash-only payment or urgent pressure to pay immediately.
Title shows multiple overlapping allocations or contested boundaries for Land.
A “too-good-to-be-true” price in a high-demand area without a clear reason.
Agent refuses independent survey or registry search.
Summary:
As a Nigerian abroad, you don’t have to fear buying property in Lagos. With the right realtor, legal backing, and secure processes, you can confidently invest in one of Africa’s fastest-growing real estate markets.
Start small if you’re unsure—perhaps a serviced
apartment or land in a growing area.
Over time, you can expand your portfolio and enjoy the benefits of having real estate in Lagos, whether for personal use or as a steady income stream.
