Real estate firms are gradually looking beyond Lagos and its environs in search of greener pastures, as many of them compete over subscribers with various value propositions for homeownership. They are currently moving from the outskirts of Lagos further down to other developing areas like Ofada, Sagamu interchange, Ibeju-Lekki, and Siun among others.
Some of these real estate firms such as RevolutionPlus, Adron Homes, Merit Abode, Richfield Limited, and Greenville Estate are not only offering subscribers the opportunity to own homes, but also a chance to do so within exclusive estate layouts with impressive amenities like recreation centres, supermarkets, parks, internet service, and topnotch security.
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What some of them offer
RevolutionPlus
In its Royal Haven Garden, Ofada, along Lagos/Ibadan expressway, close to Sagamu interchange, RevolutionPlus claims the estate is designed to offer an affordable living experience in a friendly neighbourhood with good road network and other great benefits.
With N8.5 million (instalment payment), interested clients can own a 2 bedroom bungalow (completed), while a 3 bedroom bungalow (completed) goes for N10 million.
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Richfield Property Limited
The firm claims to address the housing deficit in Ogun State and also pays savvy investors interests for being partners. The real estate company is the developer of Richfield Residences, a premium residential development that is only 20 minutes from the old Lagos Toll Gate.
It consists of 20 units of fully detached 3 bedroom bungalows and 10 units of 2 bedroom terraces all located on Abeokuta/Lagos Expressway, opposite Midland Galvanising Company Ile-Ise.
With the sum of N4.8 million, a subscriber can own a plot of land in the estate and pay a minimum of N1 million as deposit.
READ: Basic guide to buying land in Lagos
Family Homes
About 25 minutes drive from the Lagos Toll Gate (along Lagos-Ibadan expressway), the Family Homes Estate offers interested subscribers a one-bedroom flat at N6.25 million, while a studio flat, two-bedroom flat and three-bedroom flat go for N3 million, N8.95 million, and N11.5 million respectively.
Merit Abode
Its Sapphire Courts is a residential estate situated in Ofada within the Lagos-Ogun Ingress. Sitting on 20 acres of C of O issued land, Sapphire Courts comprises 200 units of 2 and 3 bedroom semi-detached bungalows.
The real estate firm offers opportunities to acquire affordable landed properties at the following outright payment rates: N1.35 million (600sqm plot), N900,000 (400sqm plot), and N700,000 (300sqm plot).
To own a two-bedroom apartment, buyers must have N12.98 million which has to be paid in six months, or N13.97 million in 12 months and N14.95 million in 18 months.
The three-bedroom apartments go for 6 months – ₦14.6 million, 12 months – ₦15.7 million and 18 months – ₦16.8 million.
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Adron Homes
With N18.5 million, an interested buyer can own a two-bedroom apartment in Adron Homes Treasure Parks 2 in Simawa, Ogun State.
To buy a plot of land in the estate also costs N6 million, which is an outright payment or in 3 months. N6.05 million is charged for clients that want to spread their payment plans to 6 months, and N6.25 million for 4 years.
Bottomline
The instalment payment plan offered by many of these real estate firms is making homeownership more affordable and accessible, particularly to individuals in the middle class.
Besides making housing affordable, these real estate firms are also driving development by opening up rural communities to attract urban dwellers; and they are helping to decongest major cities like Lagos.