The future of real estate in Nigeria is gaining traction. But not in the manner that you imagine. With increasing concerns over Nigeria’s expanding population growth (over 200 million people), we see the emergence of a working population comprising of dynamic, technologically savvy, agile, and increasingly embracing risk by establishing startups from tech companies, financial institutions, and modern restaurants. Young professionals keep away from the regular and expensive office and residential arrangements and adopt the cost-saving features and flexibility that shared accommodation and working spaces provide. Mobile technology has empowered consumers, which has forced the real estate industry to innovate.

However, there remains a major demand-supply gap in the various real estate submarkets: office, residential, hospitality, and retail. While real estate investments provide an opportunity for citizens to participate directly in the economy, the regular means of achieving this are far-fetched for many citizens, and the system needs to evolve. To re-energize the real estate sector, boost the economy and restore access to the real estate industry, Oakwood Heights Limited has strategically rolled out innovative and affordable real estate investment options for the lower-middle working-class population.

Oak Flexi: This investment option allows you to buy your desired property by granting you access to the National Housing Fund (NHF) of N15m at an interest rate of 6% per annum, in addition to a mortgage loan. This loan has a maximum tenor of 30 years. Oakwood Heights compliment the NHF loan with a link to a mortgage, to make up the property’s value to be purchased.

Oak Staff Mortgage Scheme: This is a special investment scheme designed to provide and administer housing schemes and mortgage finance for employees and co-operative societies, corporate unions, associations, etc. It is tailored to fit into specific organizations based on their salary and pay structure.

Oakhome Ownership Build Up: Oakhome ownership build-up is an investment option that allows you to provide half equity of the desired property by building up your savings to 50% of the property’s value. We provide a balance of 50%. You will be allowed to occupy the house while providing the remaining equity through mortgage or rent-to-own-bases on installment payments.

Joint Ventures: This service enables owners of undeveloped land property in prime locations to partner with us to develop their real estate and earn income. Our Joint venture (JV) service provides a platform where we partner with other landowners to develop houses for sale. This can involve sharing of profits or otherwise. Our objective is bringing satisfaction, value, and maximum returns, with the hope of making homeownership affordable and simple.

Property Development: Under this service, we assist investors in refurbishing old, foreclosed, or abandoned properties in prime locations into luxury and deluxe apartments / commercial buildings. The properties can be put up for sale at a significantly profitable margin.

The story of Nigeria’s real estate industry is bright, and Oakwood heights Limited is in a strong position to deliver properties and services which are financially, physically, and fit for Nigeria’s future.

For inquiries, please reach out to us on 07047214004 or send us a mail at info@oakwoodheights.com.ng

Buying Lands and properties in choice areas Nigeria is like purchasing Gold! It is advisable to avoid fraud and falsification of contract documents before purchasing a designated real estate property. Consequently, this article will underline several methods of acquiring real estate and measures to be adopted when buying a property in Nigeria.

There are several methods of acquiring real estate in Nigeria.  Properties can be acquired through property transfers, donation of land, probate or letters of administration, direct purchase and others.  This article will emphasize the sale of real estate property, which is common practice in Nigeria.

The acquisition of real estate by sale is when the rights in a unit of property (or designated real estate) are transferred between seller and buyer. At least two parties are involved in a real estate transaction. The parties can be natural or legal entities (e.g., a company). A real estate transaction can be rather complicated; hence, an experienced real estate company (like Oakwood Heights Limited) and a lawyer are required.

Five (5) phases involved in acquiring real estate by sale are mentioned herein for ease of understanding. A buyer is expected to follow through with each stage when buying a property.

1. Inspection phase: This is where the buyer examines the property by physically observing the property he wants to buy. This must be done to ascertain the description of the property presented by the seller (which can be the landowner or real estate agent). The physical observation also helps the buyer know if the property’s location is in line with the state’s urban and regional planning laws (business or residential).
2. Pre contract phase: In this phase, the buyer proceeds to search for the property’s title to establish the genuineness of the title property and ensure there is no concern on the property. The search can be done in:
   • The appropriate Land Registry
   • The probate registry-to ascertain if the title of the property was gotten through a will.
   • The Corporate Affairs Commission-to know if the seller is a company and thus registered.
   • The court-to inquire if there is a disagreement on the property title.
3.   Contract phase: This is the phase where the potential buyer has done all the due diligence, sure of the property he wants to buy and ready to proceed with the purchase. At this phase, the parties involved negotiate the terms of sale; a contract of sale of real estate (evidencing the transaction between the parties) is prepared, signed, and exchanged; and the initial deposit on the property is made.

• Completion Phase: This is the phase where the parties complete the sale and acquisition of the title property. The buyer is expected to complete the payment for the property, and the seller present to the buyer all original copies of the property’s title documents, including a Deed of Assignment, purchase receipt, the contract of sales, building plan, and other relevant documents in possession of the previous owner. At this point, the title property is now owned by the buyer.
• Post-completion phase: In this phase, the buyer proceeds to perfect the title of the property. This is done at the land registry of the state where the property is located.

For inquiries, please reach out to us on 07047214004 or send us a mail at info@oakwoodheights.com.ng

Oakwood Heights Limited has a lot of valuable experience in real estate investment and has developed several strategies (which goes beyond buying a home) on how to invest in the Nigerian real estate industry. It is a property development company established to construct and create affordable housing units for Nigerian consumers, focusing on lower-middle-income professionals.

Below are four (4) ways to invest in Nigeria’s real estate market through us.

Investing in rental properties

Investing in rental properties makes you a landlord. It is about purchasing a property (or several properties) and renting it out to tenants who covers the mortgage yearly or monthly. It provides a monthly (for short-term rentals, e.g. vacationers) or yearly (long-term rental) rental income that covers the value and profit on the property’s investment; and can be doubled or tripled with the acquisition of more real estates. You can take advantage of our real estates’ products like Diaspora Delight and OakHome ownership build-up to purchase a property and rent it out for monthly and yearly income. You can also subscribe to our facility management services at Oakwood Heights Limited which includes managing properties on behalf of clients, collection of rent, invoicing etc.

Property Redevelopment

This involves refurbishing old abandoned or foreclosed properties in prime locations into luxury and deluxe apartments/commercial buildings. The properties can be put up for sale at a significantly profitable margin. The choice of location is critical when investing in developing a property. Oakwood Heights Limited has dedicated and professional personnel to build, develop and redesign projects to meet the expectation of our numerous clients need. Oakwood Heights Limited is willing to partner with property owners for redevelopment for better value.

Land Flipping

In principle, land flipping is when a buyer purchased a land from the seller at a low price and then proceed to sell that same land for a profit. It is a smart investment that can make you grow from purchasing a plot of land to several plots of land over a period of time. Profound knowledge of how to own land and the processes involved in purchasing and selling land is necessary.

Real Estate Investment Trusts (REITs)

REITs are a passive form of an investment scheme, where you don’t have to worry about putting a property for sale to make a profit or manage tenants for your rented property. It is not common with most Nigerians. REITs are regulated by Nigeria’s Securities and Exchange Commission (SEC).

In REITs, capital is pooled from investors and utilized to acquire real estates and mortgage loans that generate income. Like dividend-paying stocks, REITs can be traded in the stock market for regular dividends. Real estate management professionals manage this pool of assets for maximum returns on investment (ROI). REITs have several benefits, which include:

• It offers an alternative to equities and fixed income securities for investors who want to diversify their investment portfolio.
• It allows investment in relatively liquid assets (compared to direct investment in real estate), like non-residential investments (malls and office buildings), highly liquid and easily converted to cash.

For inquiries, please reach out to us on 07047214004 or send us a mail at info@oakwoodheights.com.ng