What Are Off-Plan Properties? A Complete Guide for Nigerian Buyers
BY: Landnest Homes And Properties
BY: Landnest Homes And Properties
Friday, September 26, 2025
September 26, 2025
What Exactly Is Off-Plan Property?
An off-plan property is real estate purchased before construction is complete, or sometimes before it even begins. Buyers commit based on designs, floor plans, and promises.
In Nigeria, off-plan is popular in Lagos, Abuja, and increasingly Ibadan, Port Harcourt, and Enugu. Developers use buyer funds to finance construction, while buyers enjoy discounted prices and payment flexibility.
Tip: Think of off-plan like planting a seed. You invest early, nurture patiently, and harvest value when the house is built.
What Exactly Is Off-Plan Property?
An off-plan property is real estate purchased before construction is complete, or sometimes before it even begins. Buyers commit based on designs, floor plans, and promises.
In Nigeria, off-plan is popular in Lagos, Abuja, and increasingly Ibadan, Port Harcourt, and Enugu. Developers use buyer funds to finance construction, while buyers enjoy discounted prices and payment flexibility.
Tip: Think of off-plan like planting a seed. You invest early, nurture patiently, and harvest value when the house is built.
Why Do Developers Offer Off-Plan Deals?
For developers, off-plan sales mean:
Early cash flow to fund construction
Reduced dependence on bank loans
Proof of demand before completion
Faster project take-off
For buyers, it means:
Lower entry prices
Flexible installment payments
First choice of units (best locations, best designs)
It’s a trade-off: risk for reward.
The Benefits of Buying Off-Plan in Nigeria
Lower Prices: Off-plan homes can be 20–30% cheaper than completed units.
Payment Flexibility: Pay over 12–36 months instead of one lump sum.
Capital Appreciation: Properties often rise in value during construction. Buy at ₦25m, finish at ₦35m.
Customization: Buyers can sometimes tweak designs (kitchen layouts, finishes).
Prestige: Early buyers secure the most strategic plots or apartments.
Tip: Always compare off-plan pricing to current market value of similar finished properties. If the “discount” isn’t clear, it may not be worth it.
Why Do Developers Offer Off-Plan Deals?
For developers, off-plan sales mean:
Early cash flow to fund construction
Reduced dependence on bank loans
Proof of demand before completion
Faster project take-off
For buyers, it means:
Lower entry prices
Flexible installment payments
First choice of units (best locations, best designs)
It’s a trade-off: risk for reward.
The Benefits of Buying Off-Plan in Nigeria
Lower Prices: Off-plan homes can be 20–30% cheaper than completed units.
Payment Flexibility: Pay over 12–36 months instead of one lump sum.
Capital Appreciation: Properties often rise in value during construction. Buy at ₦25m, finish at ₦35m.
Customization: Buyers can sometimes tweak designs (kitchen layouts, finishes).
Prestige: Early buyers secure the most strategic plots or apartments.
Tip: Always compare off-plan pricing to current market value of similar finished properties. If the “discount” isn’t clear, it may not be worth it.
The Risks of Off-Plan Property
Project Delays: Developers may overshoot timelines by months or years.
Abandoned Projects: If financing collapses, construction may stop.
Fraud: Unscrupulous firms collect funds and disappear.
Design Changes: The finished product may differ from the glossy brochure.
Market Risk: If property values fall, you may overpay.
Tip: Treat off-plan as a partnership, you’re trusting the developer to deliver. Verify their credibility.
The Nigerian Context
In Lagos, off-plan deals are common in Lekki, Ajah, Ibeju-Lekki, and Ikoyi. Prices can start from ₦20m for 2-bedroom apartments up to ₦200m+ luxury duplexes.
In Abuja, areas like Lokogoma, Guzape, and Jabi host thriving off-plan estates.
Ibadan is catching up, developers like landnest are launching gated off-plan estates like Bayforeshore in Ajoda New Town with prices between ₦40m and ₦85m.
The Risks of Off-Plan Property
Project Delays: Developers may overshoot timelines by months or years.
Abandoned Projects: If financing collapses, construction may stop.
Fraud: Unscrupulous firms collect funds and disappear.
Design Changes: The finished product may differ from the glossy brochure.
Market Risk: If property values fall, you may overpay.
Tip: Treat off-plan as a partnership, you’re trusting the developer to deliver. Verify their credibility.
The Nigerian Context
In Lagos, off-plan deals are common in Lekki, Ajah, Ibeju-Lekki, and Ikoyi. Prices can start from ₦20m for 2-bedroom apartments up to ₦200m+ luxury duplexes.
In Abuja, areas like Lokogoma, Guzape, and Jabi host thriving off-plan estates.
Ibadan is catching up, developers like landnest are launching gated off-plan estates like Bayforeshore in Ajoda New Town with prices between ₦40m and ₦85m.
How to Safely Buy Off-Plan in Nigeria
Step 1: Research the Developer
Past completed projects?
Registered company?
Online and offline reputation?
Step 2: Inspect Approvals
Building plan approval
Title documents (C of O, Governor’s consent, excision)
Development permits
Step 3: Review Payment Structure
What’s the Initial deposit?
Is there a Clear installment schedule?
Do they have a Refund policy?
Step 4: Legal Backup
Deed of Agreement (signed by both parties)
Escrow arrangement if available
Independent lawyer to review documents
Step 5: Monitor Progress
Visit site often
Request construction updates
Check that funds are being used as promised
Tip: Never rely only on glossy 3D renderings. Visit the site, see the soil, the foundation, the workers.
Who Should Consider Off-Plan?
Young families: who need affordability and flexible payments
Diaspora Nigerians: who want to lock in lower prices while still abroad
Investors: looking to buy low and sell high after completion
First-time buyers: who might not have lump-sum cash for completed houses
Off-Plan vs Completed Homes: Which Is Better?
Off-Plan: Cheaper, flexible, higher risk.
Completed: Pricier, lump-sum, lower risk.
Your choice depends on:
Risk appetite
Cash flow strength
Urgency of need
If you need a home immediately, completed property wins. If you can wait, off-plan often yields better returns.
Practical Checklist Before Buying Off-Plan
Confirm land title and approvals
Check developer’s portfolio
Demand signed legal documents
Understand the payment plan
Inspect the site physically
Ask for delivery timeline in writing
Plan for at least 6–12 months delay (just in case)
Budget for finishing touches (paint, fittings, landscaping)
The Bigger Picture: Why Off-Plan Is Growing
Nigeria’s housing deficit is over 20 million units. Developers use off-plan as a financing model to meet demand. With rising urbanization, more families will choose this route.
Technology is helping too, virtual tours, escrow payments, and stricter regulations are making off-plan more transparent.
How to Safely Buy Off-Plan in Nigeria
Step 1: Research the Developer
Past completed projects?
Registered company?
Online and offline reputation?
Step 2: Inspect Approvals
Building plan approval
Title documents (C of O, Governor’s consent, excision)
Development permits
Step 3: Review Payment Structure
What’s the Initial deposit?
Is there a Clear installment schedule?
Do they have a Refund policy?
Step 4: Legal Backup
Deed of Agreement (signed by both parties)
Escrow arrangement if available
Independent lawyer to review documents
Step 5: Monitor Progress
Visit site often
Request construction updates
Check that funds are being used as promised
Tip: Never rely only on glossy 3D renderings. Visit the site, see the soil, the foundation, the workers.
Who Should Consider Off-Plan?
Young families: who need affordability and flexible payments
Diaspora Nigerians: who want to lock in lower prices while still abroad
Investors: looking to buy low and sell high after completion
First-time buyers: who might not have lump-sum cash for completed houses
Off-Plan vs Completed Homes: Which Is Better?
Off-Plan: Cheaper, flexible, higher risk.
Completed: Pricier, lump-sum, lower risk.
Your choice depends on:
Risk appetite
Cash flow strength
Urgency of need
If you need a home immediately, completed property wins. If you can wait, off-plan often yields better returns.
Practical Checklist Before Buying Off-Plan
Confirm land title and approvals
Check developer’s portfolio
Demand signed legal documents
Understand the payment plan
Inspect the site physically
Ask for delivery timeline in writing
Plan for at least 6–12 months delay (just in case)
Budget for finishing touches (paint, fittings, landscaping)
The Bigger Picture: Why Off-Plan Is Growing
Nigeria’s housing deficit is over 20 million units. Developers use off-plan as a financing model to meet demand. With rising urbanization, more families will choose this route.
Technology is helping too, virtual tours, escrow payments, and stricter regulations are making off-plan more transparent.
Final Thoughts
Off-plan properties can be a gateway to home ownership and wealth building, if approached wisely. They combine affordability with opportunity, but demand careful vetting and patience.
At Landnest, we partner only with credible, documented projects like Bayforeshore. Our off-plan options offer flexible payments, secure titles, and transparent updates.
Send “OFFPLAN” to explore options in Bayforeshore suitable for you.
Final Thoughts
Off-plan properties can be a gateway to home ownership and wealth building, if approached wisely. They combine affordability with opportunity, but demand careful vetting and patience.
At Landnest, we partner only with credible, documented projects like Bayforeshore. Our off-plan options offer flexible payments, secure titles, and transparent updates.
Send “OFFPLAN” to explore options in Bayforeshore suitable for you.
LET’S GET IN TOUCH
The Ultimate Real Estate Investment Provider
Discover the unthinkable return of investment on real estate. We are committed to making this journey a seamless experience for you.
Visit Us at
Head Office:
No 2, Dele Adetoro Street, Bodija Ibadan.
Branch Office:
Suite 101 Block C, Akord Shopping Mall, Along Lekki_Epe, Expressway Bogije, Ibeju-Lekki, Lagos State.
EFCC via its Special Control Unit Money Laundering (SCUML)
We are also accredited by the Real Estate Developers Association of Nigeria (REDAN)
Registered with Corporate Affairs Commission, Nigeria (RC:7080017)
© LandNest Homes & Properties. 2024.
LET’S GET IN TOUCH
The Ultimate Real Estate Investment Provider
Discover the unthinkable return of investment on real estate. We are committed to making this journey a seamless experience for you.
Visit Us at
Head Office:
No 2, Dele Adetoro Street, Bodija Ibadan.
Branch Office:
Suite 101 Block C, Akord Shopping Mall, Along Lekki_Epe, Expressway Bogije, Ibeju-Lekki, Lagos State.
Registered under EFCC via its Special Control Unit Money Laundering (SCUML)
We are also accredited by the Real Estate Developers Association of Nigeria (REDAN)
Registered with Corporate Affairs Commission, Nigeria (RC:7080017)
© LandNest Homes & Properties. 2024.
LET’S GET IN TOUCH
The Ultimate Real Estate Investment Provider
Discover the unthinkable return of investment on real estate. We are committed to making this journey a seamless experience for you.
Visit Us at
Head Office:
No 2, Dele Adetoro Street, Bodija Ibadan.
Branch Office:
Suite 101 Block C, Akord Shopping Mall, Along Lekki_Epe, Expressway Bogije, Ibeju-Lekki, Lagos State.
EFCC via its Special Control Unit Money Laundering (SCUML)
We are also accredited by the Real Estate Developers Association of Nigeria (REDAN)
Registered with Corporate Affairs Commission, Nigeria (RC:7080017)
© LandNest Homes & Properties. 2024.
LET’S GET IN TOUCH
The Ultimate Real Estate Investment Provider
Discover the unthinkable return of investment on real estate. We are committed to making this journey a seamless experience for you.
Visit Us at
Head Office:
No 2, Dele Adetoro Street, Bodija Ibadan.
Branch Office:
Suite 101 Block C, Akord Shopping Mall, Along Lekki_Epe, Expressway Bogije, Ibeju-Lekki, Lagos State.
EFCC via its Special Control Unit Money Laundering (SCUML)
We are also accredited by the Real Estate Developers Association of Nigeria (REDAN)
Registered with Corporate Affairs Commission, Nigeria (RC:7080017)
© LandNest Homes & Properties. 2024.