Buying Property in Nigeria by Foreigners

AZUR REAL ESTATE & DEVELOPMENT

EXPLOITING A DIFFERENT WORLD OF POSSIBILITIES

Buying Property in Nigeria by Foreigners

We are on standby to assist any foreign buyer interested in Nigeria property, get that property of their desire. Buying property in Nigeria by foreigners involve a lot of knowledge in land law of Nigeria since all the land in Nigeria belong to state government in the country.

Buying properties in Nigeria is easy but the biggest mistake foreigner buyers make is relating buying procedure in there respective countries to that our Nigeria or any other places. The market for property Nigeria represents some fantastic lifestyle and investment opportunities but it also contains pitfalls, which foreign buyers must avoid.

We will assist the foreign buyers to understand all the fundamental difference of buying property in Nigeria to that of abroad beside that we will also help them to understand all the law in Nigeria that may have a profound effect on there property purchase in Nigeria.

What we explain below if few aspects of property law in Nigeria that foreign buyers need to be aware of before committing to any purchase.

The Land Use Act of 1978 in Nigeria converted all land to State Land means the Governor of the State is responsible for the management of all lands on behalf of the people of Nigeria however land cannot be owned privately in Nigeria.

The Governor’s consent is needed for the assignment of title to use, occupy, and improve property with a statutory certificate. This certificate does not include rights to sell, give, or sub-let, which requires further consent from the State Governor.

In Nigeria, there is no freehold properties only lease hold for foreigners since all the lands in Nigeria belong to government. The lease hold always goes for 99 years in different parts of Nigeria like in Lagos and

If you are planning to buy a property in Nigeria there are two issues you have to consider:

Buying a new Property “Off plan” or property under construction and this is usually expensive.

Buying an Old property buying from a new development, often prices are set with no room for negotiation.

Land Eligibility in Nigeria

To be eligible land must be registered with the Governor of the state or signed or “approved to be authenticated”
There must be signature of validity applied for in the land registry in the name of the new owner.
To be Eligible the lay down the conditions relating to the payment of the purchase price.
If you are foreigner you must be having an entry visa in Nigeria.

We have all what you need to know about buying and selling properties in Nigeria as a foreigner. Please, do contact us today for further information and we will be glad to put you through.