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Understanding the Differences: Leasehold vs. Full Ownership Apartments by Dennis Isong

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Understanding the Differences: Leasehold vs. Full Ownership Apartments by Dennis Isong 

Understanding the Differences: Leasehold vs. Full Ownership Apartments by Dennis Isong

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sahara Weekly Reports That When it comes to purchasing property, one of the fundamental decisions that prospective buyers must make is whether to opt for a leasehold or full ownership apartment. Each type of ownership has its own set of advantages and drawbacks, catering to different preferences, financial situations, and long-term goals.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Understanding the Differences: Leasehold vs. Full Ownership Apartments by Dennis Isong 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Leasehold Apartments:

In the heart of Lagos, where the pulse of the city reverberates through its streets, people and businesses, the concept of leasehold unfolded in the neighborhood of Victoria Island. This vibrant area, known for its mix of commerce and culture, became the backdrop for a story that unfolded at the crossroads of tradition and urban development in real estate.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ade is a savvy entrepreneur with dreams of establishing a trendy cafe along the bustling waterfront. Eager to realize his vision, Ade explored the world of leasehold agreements, a path that offered him access to prime real estate without the hefty burden of outright ownership.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ade found a property owned by a longstanding family in Victoria Island. The family, hesitant to sell their ancestral land, opted for a leasehold arrangement that would allow Ade to operate his cafe while preserving the family’s connection to the place that held generations of memories. Ade transformed the space into a hub for creativity and conversation. Meanwhile, the family retained a sense of ownership, participating in the cafe’s success while maintaining the historical significance of their land.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The neighborhood, once accustomed to traditional ownership models, began to witness the harmonious coexistence of progress and heritage. The leasehold, in this corner of Lagos, became a bridge between entrepreneurial aspirations and the rich family history. Ade’s cafe, with its leasehold roots, became a symbol of innovation and collaboration. It stood as a testament to the adaptability of Lagos, where the spirit of entrepreneurship could flourish without severing ties to the past. The story of Ade’s cafe echoed through the vibrant streets, showcasing how leasehold arrangements could weave a story of continuity and change in the dynamic fabric of Lagos.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Leasehold apartments involve the buyer acquiring the right to use the property for a specified period, typically ranging from 99 to 999 years. However, the land on which the property is built remains owned by a landlord or freeholder.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In a leasehold arrangement, the buyer essentially leases the property from the freeholder. This means that while they have the right to occupy and use the space, they do not own the land beneath it.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Leaseholders are often required to pay ground rent and service charges to the freeholder. Also, there may be restrictions on making alterations to the property, and obtaining permission may involve additional costs.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The finite nature of the leasehold means that buyers should be aware of the remaining lease duration. As the lease term diminishes, the property’s value may decrease, potentially impacting resale value.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full Ownership Apartments:

Sometimes ago in Ikoyi, Lagos, a story unfolded that captured the essence of full ownership in real estate. Ngozi is a successful businesswoman with a vision of creating a haven of comfort and elegance for her family. Drawn to the serenity of Ikoyi, she embarked on a journey for a residence that would reflect her aspirations. Ngozi came across a penthouse in Azure Heights. The process of acquiring the property involved careful legalities and paperwork, but as Ngozi received the keys to her penthouse, a profound sense of ownership and accomplishment washed over her. The expansive living room, adorned with floor-to-ceiling windows framing panoramic views of the Lagos skyline, became a canvas for her dreams. As Ngozi settled into her new home, she felt a deep connection to the Ikoyi neighborhood. Azure Heights, with its full ownership model, allowed her to not only enjoy the lavish amenities within the building but also embrace the exclusivity of belonging to one of Lagos’s most coveted addresses. Ngozi’s apartment became a symbol of personal achievement, a testament to the possibilities that awaited those who aspired to own a piece of Lagos’s dynamic real estate.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full ownership, also known as freehold, grants the buyer complete ownership of both the property and the land it stands on. This type of ownership provides greater autonomy and fewer restrictions compared to leasehold.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full ownership apartments mean that the buyer has control over the property in perpetuity. This includes the freedom to make alterations, additions, and decisions without seeking permission from a landlord.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unlike leasehold properties, full ownership does not typically involve paying ground rent to a landlord. However, owners are responsible for all maintenance and repair costs, which can be both a benefit and a challenge depending on the individual’s preferences and financial capacity.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full ownership is often seen as a more secure investment in the long run. The absence of a lease term expiration provides stability, and the property is likely to appreciate over time.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Conclusion

The decision between leasehold and full ownership often hinges on financial considerations. Leasehold properties may have a lower initial cost, but the long-term expenses, such as ground rent and service charges, should be factored in.

Individuals who value autonomy and control over their living space may find full ownership more appealing. On the other hand, leasehold may suit those who prefer a hands-off approach to property management.

Buyers should carefully assess the resale and investment potential of each type of ownership. Full ownership is often considered a safer bet in terms of long-term value, but leasehold properties can still be lucrative if managed wisely.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041

 

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Tayo Ayinde: The Quiet Engine of Lagos’ Governance

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In the complex theatre of governance, where noise often masquerades as impact, few figures embody disciplined authority and strategic boldness like Tayo Ayinde, Chief of Staff to Governor Babajide Sanwo-Olu of Lagos. He is not a headline-chasing leader. Instead, Ayinde represents a rare breed, a calm but commanding operator whose strength is expressed through control, precision, and unwavering loyalty.

Ayinde’s personality is deeply rooted in his formative years within Nigeria’s security architecture. Having served in the State Security Service (SSS), where he rose through the ranks before retiring in 2009, he developed a mindset shaped by vigilance, intelligence gathering, and calculated decision-making.

This background did not just shape his career; it defined his temperament. Those who have observed him closely describe a man who is perpetually alert, mentally agile, and instinctively strategic. He anticipates rather than reacts and focuses on outcomes rather than optics.

His boldness, therefore, is not performative; it is institutional.

Nicknamed “Buffalo” by colleagues and associates, Ayinde’s personality reflects a striking paradox: gentle in appearance, yet formidable in execution. He carries a commanding presence while maintaining a composed and approachable demeanor. In political and administrative circles, he is known to demonstrate focus under pressure, maintain emotional discipline in crisis situations, and project authority that commands respect without coercion.

This blend of calmness and inner strength is what makes his leadership style uniquely effective. He is the type of leader who can enter a room quietly and still shape its direction.

Within the Lagos State Government, Ayinde is more than a chief of staff in title; he is widely regarded as the operational nucleus of the administration. He coordinates complex policy frameworks with precision and serves as a critical bridge between political leadership and administrative execution. In doing so, he manages competing interests without destabilizing governance.

President Bola Ahmed Tinubu has described him as a dependable ally and a stabilizing force, an acknowledgment of his ability to manage responsibility without being consumed by it.

Ayinde’s office is often described as a “solution centre”, a place where issues are addressed with clarity and speed rather than prolonged debate.

In Nigeria’s often unpredictable political environment, loyalty can be fluid. Ayinde, however, represents a different doctrine: loyalty as a strategic principle. From his days as Chief Detail to President Bola Ahmed Tinubu to his current role, he has built a reputation as a leader who understands power, respects hierarchy, and safeguards institutional continuity.

His consistency stands out. He does not shift with political winds, nor does he deploy influence for personal spectacle. Instead, he prioritizes structure, stability, and long-term outcomes. This approach has earned him a trusted position within Lagos’ political landscape, with credibility that cuts across different interests.

Beyond governance, Ayinde’s personality reveals a strong humanitarian dimension. Known for his quiet philanthropy, he has supported widows, orphans, and vulnerable communities over the years, often without public attention. His Ikeja residence is frequently described as an “open door,” reflecting a leadership philosophy grounded in accessibility and compassion.

This balance of firmness in leadership and empathy in human engagement, completes the architecture of his character.

In an era where leadership is often equated with visibility, Tayo Ayinde represents a different model, one defined by substance over spectacle. He is a strategist who thinks ahead, a coordinator who turns policy into reality, and a steady hand in complex systems.

His story is not one of flamboyance but of structured influence, disciplined authority, and consistent delivery. His impact is measured not by volume, but by his ability to guide outcomes, stabilize systems, and sustain governance at the highest level.

In the evolving narrative of Lagos State, Ayinde stands as a reminder that true power does not always announce itself. It operates, delivers, and endures.

~ Ayo Olusegun Writes

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Why Oshodi-Isolo Constituency 1 Should Stand with Engr. Abayomi David Fasanya (FASH)

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By Ayodele Adeyeye

 

In every electoral cycle, constituents are presented with a familiar challenge: choosing not just a candidate, but a leader who embodies the values, vision and commitment required to drive meaningful development. For the people of Oshodi-Isolo Constituency 1, this moment calls for careful reflection and a decisive choice—one that prioritizes credibility, competence and community connection.

Among those seeking to represent the constituency, Engr. Abayomi David Fasanya (popularly known as FASH) has emerged as a compelling option, distinguished by his track record, grassroots engagement and forward-looking vision

At a time when public trust in leadership is often tested, FASH represents a refreshing alternative. He is widely regarded as a man of integrity, whose approach to leadership is rooted in service rather than self-interest. His long-standing connection with the people of Oshodi-Isolo Constituency 1 gives him a clear understanding of the socio-economic realities facing residents—from youth unemployment and infrastructure deficits to the need for sustainable community development.

One of the defining attributes of FASH’s candidacy is his strong grassroots appeal. Unlike many who approach leadership from a distance, he has remained closely connected to the community, engaging with residents, listening to their concerns and participating in initiatives aimed at improving their welfare. This familiarity positions him not just as a representative, but as a true voice of the people.

Equally important is his emphasis on service-driven leadership. In a political climate often dominated by rhetoric, FASH’s message is centered on tangible impact. His agenda reflects a commitment to delivering practical solutions—policies and programs that directly address the needs of the constituency while creating opportunities for growth and empowerment.

Furthermore, FASH has consistently advocated for unity and collective progress. He recognizes that the development of Oshodi-Isolo Constituency 1 depends on collaboration across diverse groups and interests. By promoting inclusiveness, peace and shared purpose, he aims to foster an environment where progress is not only achievable but sustainable.

Central to his campaign is a clear and actionable vision for development. This includes prioritizing youth empowerment through skills acquisition and job creation, supporting small and medium-scale enterprises and advocating for improved infrastructure and social services. His professional background as an engineer further strengthens his capacity to approach development with structure, innovation and efficiency.

As the constituency prepares to make a critical decision about its future, the need for leadership that inspires confidence and delivers results cannot be overstated. Oshodi-Isolo Constituency 1 deserves a representative who will illuminate pathways to progress, restore hope in governance and ensure that the dividends of democracy reach every corner of the community.

Engr. Abayomi David Fasanya (FASH) presents himself as that candidate—one ready to serve with dedication, guided by a vision of light, growth and inclusive development.

The choice ultimately rests with the people. But in FASH, many see not just a contender, but a leader prepared to translate aspiration into action and promise into progress.

Asoludero fun ilu Oshodi.

Ayodele Adeyeye writes from, Mafoluku, Oshodi, Lagos State

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Court Strikes Out Case Against Adedipe Ewenla, Alleges Political Persecution

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A former aspirant for the Lagos State House of Representatives and chieftain of the Peoples Democratic Party (PDP), Hon. Prince Amb. (Dr.) Adedipe Dauda Ewenla, has announced that the Federal High Court sitting in Ikoyi has struck out a case instituted against him, citing lack of merit and absence of credible evidence.

 

Describing the judgment as a clear vindication, Ewenla attributed the outcome to divine intervention, maintaining that the allegations brought against him were false, malicious, and politically motivated.

 

Allegation of Unlawful Detention

In a statement made available to the public, Ewenla recounted his alleged unlawful detention for 37 days in 2019 during his political aspiration. He claimed the incident occurred under the tenure of the then Commissioner of Police and was orchestrated by political opponents seeking to frustrate his ambition.

 

He emphasized that participation in politics is a constitutional right of every Nigerian and expressed concern that his experience reflected a troubling reality for opposition members in Lagos State.

 

Declared Wanted Without Due Process

 

Ewenla further alleged that he was declared wanted without prior invitation or formal communication from security agencies. He maintained that he did not evade arrest but voluntarily presented himself at the OC SARS, Ikeja Police Command upon learning of the allegations.

According to him, due process was not followed, as he was detained for 37 days, while his wife was held for nine days, alongside several members of his campaign team who were also detained for varying periods.

 

Alleged Political Influence

 

He also alleged that during his detention, an Investigating Police Officer questioned his involvement in opposition politics, suggesting that his release was subject to directives “from above.” Ewenla described this as evidence of political interference in the matter.

 

He stated that his eventual arraignment and release on bail came only after sustained legal intervention and the invocation of his fundamental human rights.

 

Pipeline Vandalization Allegation

 

Addressing claims linking him to a pipeline vandalization incident in Abule-Egba in December 2018, Ewenla denied any involvement. He noted that statements from actual suspects reportedly absolved him, yet he was still declared wanted and publicly associated with the crime.

 

He added that he was never paraded alongside the suspects, which, according to him, further indicates an attempt to tarnish his reputation.

 

Claims of Political Intimidation

Ewenla alleged continued political intimidation following his refusal to defect to the ruling party. He claimed that after emerging victorious in a House of Representatives primary election in 2022, a previously dismissed case was revived amid internal party disputes.

 

He noted that the matter was eventually dismissed again, leading to his discharge and acquittal.

 

Call for Professionalism by Security Agencies

 

Ewenla called on security agencies, including the Nigeria Police Force, the Nigeria Security and Civil Defence Corps (NSCDC), the Department of State Services (DSS), and the Nigerian Army, to remain neutral, professional, and free from political influence, particularly as the 2027 general elections approach.

 

He also urged media organizations and journalists to prioritize verification and accuracy in their reporting to prevent the spread of misinformation.

 

Commitment to Political Participation

 

Despite the challenges, Ewenla reaffirmed his commitment to active political participation, stating that he remains undeterred and will continue to contribute to democratic processes.

 

When asked about his plans for the 2027 general elections, he stated that his decision would be guided by the direction of the party leadership and relevant legal outcomes affecting the PDP.

 

Appreciation

 

He expressed gratitude to his legal team, associates, and supporters, including Barrister Ejide Lawal, Omolola Oyetoro, Adedipe Modupe Oyinlola, Omolola Salami, the late Babatunde Kode, Adedipe Nuren, Adekunle, and Shodiya Abraham Adebayo, among others, for their steadfast support.

 

Background

 

Hon. Prince Amb. (Dr.) Adedipe Dauda Ewenla is the MD/CEO of Adedas Development Foundation. He holds multiple academic and professional qualifications, including BSc, B-Tech, MSc, and certifications in surveying, real estate, and security studies. He currently serves as PDP Southwest Ex-Officio.

 

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