It is almost impossible for every potential and existing homeowner to miss the screaming billboards, flyers, sales agents, and other aggressive marketing tools of real estate firms in Lagos.

They usually attract attention by listing how their offerings are better than others, and why their houses are the best for their prospective clients. A major strategy they use to attract the middle and low-income class of the market is their flexible payment plans that suit every lifestyle.

Their target locations are within the Lekki-Epe corridor, Ibeju-Lekki, Magodo, and Badagry, among others.

Let’s take a look at some of the firms and their offerings:

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Green Park 

Green Park offers a down payment as low as N500,000 and a monthly instalment of N100,000.

The company, which is the investment arm of Lagos State Government, offers a range of house types from semi-detached, to terrace, three-bedroom, two-bedroom, and studio apartments.

It promises, “Guaranteed 6% mortgage with the National Housing Funds. Bigger rooms and spaces compared to any estate in its category.”

Lekki Garden

Lekki Gardens has a lot of real estate structures such as luxurious apartments, duplexes, detached homes, and commercial centres. The company is keen on maintenance in order to keep up the standards of the estate.

The real estate firm sells a 4-Bedroom terrace duplex for N32 million (asking price) at its Lekki Gardens Estate Phase 3, by Lagos Business School.

Features:

• Serviced estate
• Coordinated security
• Serene environment
• Good neighbourhood

Houses in the estate are mostly 3-4 bedroom terraces and were initially sold for ₦13.5 million (regular terraces) and ₦14.5 million (corner piece).

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RevolutionPlus

Its Flourish Residences in Sangotedo are positioned strategically on Monastery Road, directly opposite Lagos State Jubilee Homes. The estate is also surrounded by many other gated estates and has the popular Shoprite mall right on the same road.

While its 3 bedroom luxury flat with maid’s quarters goes for an outright price N28 million, the 4 bedroom semi-detached terrace duplex goes for an outright N40 million.

Also, the company’s Royal Haven Garden, Agbowa-Ikorodu, is located close to the approved 4th Mainland Bridge, linking Ikorodu to Lekki/Ajah axis.

Features:

• 2 Bedroom Bungalow (Carcass)
  Outright Price: N9 million
• 4 Bedroom Bungalow (Finished)
  Outright Price: 9 million
• 3 Bedroom Bungalow (Carcass)
  Outright Price: 10.5 million
• 3 Bedroom Bungalow (Finished)
  Outright Price: 10.5 million

Mixta Africa

Beechwood Park Phase 2 by Mixta Africa is located along the Lekki- Epe expressway and boasts of amenities such as on-site laundromats, recreational centres, easy access to financial institutions, reliable healthcare, good schools, and shopping malls.

The company’s plan 1 expects clients to make an outright payment with a 5% discount on price at N22 million.

In plan 2, which has an 18-month payment plan, clients are expected to make a 20% initial deposit and pay the balance over 18 months. The total cost is N31.69 million (for a 3 bedroom home).

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Bottomline

The instalment payment plans offered by many of these real estate firms are making homeownership more affordable and accessible, particularly to individuals in the middle class.

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