According to Nairametrics, Nigerians in diaspora remitted over $10B between January of 2022 to June of 2022.
For the entire year of 2022 the amount remitted by Nigerians abroad was $21 Billion.
According to Businessday NG, this figure is set to hit $26 billion dollars annually by 2025.
70% of this amount goes into buying food, necessary living items and other living expenses for the family back home while 30‰ goes into real estate investment.
According to these figures, every year Nigerians in diaspora spend over $6 Billion dollars acquiring properties back home in Nigeria.
Further research shows that 70% of the active buyers in the Nigeria real estate market are Nigerians in diaspora while 30% is made up of Nigerians in Nigeria.
These figures aren’t just impressive but also shows the high ROI and mass appeal of properties in Nigeria.
In fact, according to Goldman Sachs, Lagos, Nigeria remains the best place in the whole of Africa to invest in real estate.
All these things are collectively pointing to one thing, and one thing only.
Nigerians like you who are based abroad are buying properties in Nigeria like there is no tomorrow.
If you already haven’t started, then you are late to the party. You should be investing in real estate back home. Especially now that Naira is weak against dollar.
You can buy much with very little.
Lands in Lagos appreciate faster than Usain Bolt can run a 100 metre race.
According to my research which was confirmed by Google in the screenshot above.
Lands in Epe are appreciating by 90% to 100% annually. Epe is a developing location in Lagos.
Imagine getting a plot or more of land there and allowing it to appreciate and compound at that rate for 10 years.
See an example of the lady in the picture below. She bought a plot of land for just N1.5 Million, years later she sold it for N90 Million.
That is a 5,400% ROI. In simpler terms. Her money was multiplied 60 times. Imagine if she had bought more than a plot.
This is the power of investing in Lagos real estate.
Paul Adefarasin, the founder and senior pastor of House on The Rock church bought about 10 acres of land at Lekki Peninsula in the mid 2000s, today that land is valued at over ₦5 Billion Naira.
These stories show one thing and that is that investing in real estate in Nigeria is not only profitable but the best way to preserve and grow your wealth.
I know your fear. Am not there with you but I can correctly guess the excuses that is going through your mind right now. I bet it goes something like this:
“Am not in Nigeria, if I buy land I will lose it because I am not there to secure it.”
“I don’t want to lose my hard earned money to swindlers and scammers who will sell me audio property and disappear with my money”
“Ugochukwu, this. Ugochukwu that.”
Am aware of all these fears and challenges, that is why in this article I will show you 6 ways you can buy lands here in Nigeria virtually from anywhere you are in the world without being scammed or losing your money in any way.
How to buy land and go to sleep in peace knowing that even if it takes you 20 years to enter Nigeria, your land will still be where it is. Waiting for you.
Without further ado, let’s get started.
📌1. Never, ever buy land directly from an Omo Onile, buy only from real estate companies.
One of the easiest way to lose your money or get scammed when buying land in Nigeria is to buy land from customary landowners popularly known as Omo Onile.
In fact it is so risky for even people in Nigeria to be scammed when buying land from Omo Oniles not to talk of you that is not in Nigeria.
Any land you are buying here in Nigeria, buy only from real estate companies. Buy only lands that are within an estate.
That is another reason it is important that you buy from real estate companies.
If you buy from an individual, even if the individual and the land is genuine, because you are not here in Nigeria to secure your land.
Someone else can possess it, which will eventually lead to a court case.
There are people whose land case are still in the court after 20 years.
That is why it is important and a must if you want your land to be safe that you buy from real estate companies and that you buy only lands that are within an estate.
When you buy lands from real estate companies, they will protect and secure it for you.
They may be charging you small fees to clear and maintain the plot for you so it doesn’t get too bushy and become a problem for other residents of the estate.
In fact some real estate companies like Amen City Ltd, the developers of Amen Estate will even develop the land, build on it and rent out the house for you. If you have got the money, of course.
The fact that the land is also within an estate prevents anyone from just accessing and possessing it.
So the first way to buy land virtually without losing your money or being scammed is to buy land only from real estate companies and only buy lands that is within an estate.
Research the real estate company you want to buy land from before you buy!
Before you buy from any real estate company, make your researches.
Who is the owner of the company?
Are they well known?
Are they publicly putting their face out there as the owner of the company?
Where is the office of the company?
The first red flag that you shouldn’t trust a company is when it is faceless, with no clear owner or when there is no physical office.
Next you should check the past projects of the company.
What is their track record?
What estate have they launched before?
Do they deliver on their promises?
For example a real estate company like Amen City Ltd.
They have launched, and successfully delivered Amen Phase 1.
They did such a wonderful job that Funke Akindele filmed many episodes of her hit series, Jennifer’s Diary, inside the estate.
Till now I literally have a list of people who have requested that I let them know should anyone want to resell their house at Amen Phase 1.
They have successfully launched Amen Phase 2 too. It is fully developed, and almost sold out.
Now they have launched and are currently selling Amen Phase 3, Tiara and the Amen FTZ.
A company like this with such history of timely and successful delivery of all their projects are the kind of company to buy properties from.
So before buying from any real estate company, check who their owner is. Check their past project and track record to confirm how genuine and trustworthy they are and know what to expect if you buy land from them.
📌2. Understand land documents and titles and know the kind of document that property you want to buy has.
This is so important that there is simply no room left for exaggeration. Knowing the document the land you want to buy has will prevent you from buying the wrong land which the government might repossess in the future.
I have written a detailed article on land documents previously. You can WhatsApp me on +2347014832071 so I can send you the link for you to go and read it.
Nonetheless I will summarise here. If the land has C of O, buy it. C of O is a document that secures a land for a period of 99 years.
If the land has Governor’s Consent, go ahead and buy it. It is safe and you are protected from the government re-possessing your land.
If the land has Gazette, go ahead and buy it. The land is totally safe from any form of government acquisition.
If the land is Freehold, you buying it depends on the company and their plan. If they plan to perfect the title to C of O, then go ahead and buy it but if not, don’t.
Freehold is not a land title. It is just a status showing that the land is not under government acquisition. But for it to be perfectly safe, the title must be perfected.
If the land you are interested in has a C of O, Gazette, Governor’s Consent go ahead and buy it. It is safe.
If the land is Freehold and the company have started the process of getting the C of O, go ahead and buy it.
📌3. Watch videos of the land you want to buy and have a virtual inspection of the property.
Before you buy any land, you should watch videos of the land, the estate it is in and you should also have a virtual inspection of the property.
For example here at Rose Garden Realty, most of our clients both here in Nigeria and abroad trust me and take my word because of my integrity which they have confirmed from our past transactions.
They will just ask me to send them a video of the property so they see it, and when I bring up virtual or physical inspection, the reply is usually in the line of,
“Ugochukwu just send me the application form, please, am busy. I Don’t have time for that. I trust you. Send the application form”
However for my new clients who are buying their first property through me, what I do is that I drive down to the property call them on WhatsApp video call, Zoom or whatever works for them and show them a video of the property.
This way they see details of the land like topography, accessibility, and developments so far in the estate.
This is important.
📌4. Participate in the allocation of the land virtually.
So you have checked the company. The owner(s), their track record and past projects. You have asked for and confirmed that the land has a genuine document.
You have virtually inspected the property and you are satisfied. So you proceed to get the land.
Congratulations on your acquisition and investment.
Now make sure you are available virtually on the day of your allocation.
For my clients in diaspora what I do is that on the day they are getting allocated, just the way I organise the virtual inspection, they will be on video call while I accept their documents and secure physical allocation of their land.
A lot of congratulations later, and seeing me acting for them in proxy. They can get back to their very important lives.
Then comes the next part.
📌5. Get your documents delivered to you via DHL or FedEx.
I always advice my clients to get their documents delivered to them instead of keeping it with a family member here in Nigeria.
Anyone that has your land documents can sell that land successfully in the future without any issues.
That is why it is important that after all is said and done, you get your documents delivered to you for sake keeping.
That document is what shows the location of your land and confirms you as the owner of the land.
20 years, 50 years later all you have to do is bring out the document, go to the estate or land bureau with your survey and they will trace your land for you.
So your documents are very important. If the real estate company charges you for sending you the document, that’s not a problem, the most important thing is that you get your document because in the court of law or anywhere, that’s what shows that the land belongs to you.
6. Work with genuine and trusted real estate brokerage companies and agents.
This is the most important part, so important that if you get it right, you don’t have to worry about other parts because it is their job.
Let’s face it, you are a very busy individual with very limited free time which you should ideally spend recovering from work, having fun time with family or engaging in another lucrative activity.
Not crawling over Google checking real estate companies, who owns them, their office or checking for estates to buy.
Investing your money profitably shouldn’t be another full time work. Allow us, the professionals to handle it for you.
Working with trusted real estate brokerage firms like Rose Garden Realty solves 99% percent of your problem.
At Rose Garden Realty, we only work with and sell for real estate companies that have been vetted and verified to be genuine.
Prompt in the delivery of their projects.
Companies with a proven track record and successfully delivered projects.
We due all the necessary researches, due diligence and ROI potential of the property to determine if it is worth you investing in it.
We make sure you get your land allocated to you and most importantly we send you your documents via DHL or FedEx.
We do all these things so you can join the thousands of other Nigerians in diaspora who are investing in real estate and reaping massive returns.
We do all the work so you can get your property and go to sleep soundly at night knowing that even if it takes you 20 years to enter the country. Your land will still be here.
We have helped individuals like you, even foreign nationals make strategic safe and high ROI real estate investments.
If you are ready to join the thousands of Nigerians in diaspora just like you who annually spend over $6 Billion getting real estate properties here in Nigeria, and reaping extraordinary returns.
Send me a Whatsapp Message
