All you need to know about Off-plan Property in Lagos

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off-plan property
off-plan property

Recently, real estate companies or developers are trooping into the off-plan property. This should tell real estate investors or whoever wants to invest in real estate that this is a vital key that should not be neglected.

What is off-plan property?

What is an off-plan property?

Offplan properties are properties that are not available at the time of purchase.

Offplan property is majorly apartment. They are property that is still in process and is still undergoing the development stage.

Example of an off-plan property

In a layman language, an off-plan property means, you’re paying a real estate developer or company to build for you a particular apartment (let’s say 4 bedroom terrace duplex in Sherwood court estate), you signed an agreement with them and the company delivers to you within the space of few months.

Another example of off-plan property in ikate Lekki

Read Related Post: 7 Amazing Benefits of investing in off-plan properties

Real Estate company or developer took it upon them to develop the property and makes it available for sale for investors to key into it.

As at the time of sale, the prices are very cheap and affordable with a flexible payment plan and as the development is rapidly going on, the price would gradually increase or appreciate.

For example, a real estate company (let’s say Finebricks Investment Limited) develops an estate for apartment purposes. They would start selling the apartment at a very cheap rate and as work is ongoing they would increase it gradually until the apartment is fully completed for delivery. And before delivery, an open house would be done for the apartment

When are the delivery date and time of an off-plan property?

Off-plan delivery date and time

This is a question I hear real estate investors and people asking me whenever they want to key into an off-plan property.

Just recently, a woman asked me, Mr. Peter, when are the delivery date and time of this particular apartment.

Generally, I will be answering the question here.

The delivery date for an off-plan property depends on the real estate developer.

The truth is this, most real estate developers or companies deliver from nine (9) months upwards.

So anytime from nine months, you get your paid apartment to deliver to you depending on the developer and the type of apartment you want to buy.

See one of the real estate developers that delivers to their subscriber early this year, 2021 (Video)👇

So whenever you opt-in for an off-plan property this is a glimpse of what you will see.

The developer of the above estate as off-plan property deliver within the space of 9 months and it was a top-notch with investors and realtors as well

How much does an off-plan property costs?

Cost of an off-plan property

Another vital question people asked is, how much exactly is the cost of an off-plan property?

The costs of an off-plan property vary from one developer or the other. However, prices are not stable.

Also, you must be aware that prices depend on location and the type of building to be built. Off-plan property in Lekki can’t be compared with the ones in Abraham Adesanya roundabout in Ajah and also the ones in Abijo or Eleko, Ibeju Lekki

As the development increases so also the price. That’s why the best time to buy an off-plan property is when it is on the foundation stage.

See image below (using 3 bedroom terrace with BQ as examples)👇

sherwood court estate
4 bedroom terrace duplex in Sherwood court estate, Sangotedo

Read this Now: 5 top real estate complete that offer off-plan property in Lagos

Current prices of off-plan property as at the time of editing this article (9th February 2022)👇

Sherwood Court Estate
4 bedroom terrace duplex inside sherwood court estate sangotedo lagos

Summary:

The best time to key into off-plan property is now.

Click now to read this: 7 Amazing Benefits of investing in off-plan properties

Conclusion:

Key into the off-plan property. There is numerous benefit you will get. Off-plan properties are the trending style in the real estate industry.

Do you want to key into this right now? Then contact me now or click on the WhatsApp button on your screen.

All the off-plan properties allow installment payment within 12-24months with an initial deposit of N10M depending on the company. And most outright payments are considered as 3 months without interest.

You can book an inspection with us. Inspection is FREE and at your convenience. Contact us to key into the off-plan property in Lagos Island such as Lekki phase 1, Ajah, Sangotedo, Epe, and so on.

Book for an inspection

To key into the off-plan property in Lagos. kindly Call/WhatsApp +234 (0)901 509 4850 or click on the WhatsApp button on your screen

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