Business
10 REASONS WHY YOU MUST EXERCISE PATIENCE WHEN BUYING AN OFF-PLAN PROPERTY IN LAGOS by Dennis Isong
10 REASONS WHY YOU MUST EXERCISE PATIENCE WHEN BUYING AN OFF-PLAN PROPERTY IN LAGOS by Dennis Isong
PROPERTY IN LAGOS– Investing in real estate, especially in a fast-paced market like Lagos, requires careful consideration and strategic planning. One option that has gained popularity in recent years is purchasing off-plan properties. These properties are purchased before construction is completed, offering potential buyers a chance to secure a property at a lower price. However, when it comes to off-plan purchases, patience is a virtue that cannot be overlooked. In this article, we will discuss five compelling reasons why patience is crucial when buying an off-plan property in Lagos.
1) Comprehensive Research and Due Diligence:
Buying an off-plan property necessitates conducting thorough research and due diligence. From verifying the developer’s track record to assessing the property’s location and potential market value, patience is essential in gathering and analyzing all the necessary information. Rushing into a purchase without adequate research can lead to unfavorable outcomes, such as investing in a poorly constructed property or an undesirable location. Patience allows you to make informed decisions based on reliable information, ensuring a successful investment.
2) Property Development Timeline:
One significant aspect of purchasing an off-plan property is the waiting period until completion. Developers provide an estimated timeline for completion, but unforeseen circumstances can often lead to delays. Patience is essential during this waiting period, as it allows you to manage your expectations and avoid unnecessary stress. Being patient ensures you are prepared for any potential delays and gives you the mental fortitude to handle unexpected challenges that may arise during the construction phase.
3) Potential Price Appreciation:
One of the main advantages of buying off-plan is the potential for price appreciation. As the property progresses through the construction stages, its value can increase significantly. Patience is crucial in capitalizing on this potential appreciation. Rushing to sell the property immediately after completion may lead to missed opportunities for substantial profits. By exercising patience, you can maximize your return on investment by waiting for the optimal time to sell or lease the property.
4) Customization and Personalization:
Purchasing an off-plan property often offers the advantage of customization and personalization. You can work with the developer to make design choices and select finishes that align with your preferences. However, this customization process requires patience. It involves multiple consultations, design revisions, and coordination with the developer. Being patient ensures that you make thoughtful decisions and end up with a property that truly reflects your vision and meets your requirements.
5) Secure Better Financing Options:
Buying an off-plan property in Lagos requires careful financial planning. Patience plays a crucial role in securing better financing options. Taking the time to research various lenders, compare interest rates, and assess your financial capacity allows you to secure favorable mortgage terms. Rushing into financing decisions without patience can result in higher interest rates or unfavorable loan conditions, affecting the long-term financial viability of your investment.
6) Mitigating Risks and Ensuring Quality:
Patience plays a vital role in mitigating risks associated with off-plan property purchases. By taking the time to thoroughly review contracts, warranties, and guarantees, you can protect yourself from potential pitfalls. Patience allows you to assess the reputation and credibility of the developer, ensuring that they have a proven track record of delivering quality projects. Rushing into a purchase without exercising patience increases the chances of encountering construction issues or disputes that could have been avoided with careful consideration.
7) Capitalizing on Early Bird Discounts and Incentives:
Developers often offer attractive early bird discounts and incentives to buyers who commit to purchasing off-plan properties at the pre-construction stage. Patience is key in capitalizing on these benefits. By patiently waiting for the right opportunity, you can secure a property at a more affordable price or take advantage of additional perks such as payment plans, furniture packages, or waived fees. Rushing into a purchase may result in missing out on these advantageous offers.
8) Market Observation and Timing:
The real estate market in Lagos is dynamic, and market conditions can fluctuate. Patience is crucial when it comes to market observation and timing. By patiently monitoring market trends, you can make an informed decision about when to enter the market and purchase an off-plan property. Waiting for favorable market conditions can potentially lead to better pricing, increased demand, and improved resale or rental prospects. Rushing into a purchase without considering market dynamics may result in an investment that doesn’t align with market realities.
9) Building Relationships with Developers and Agents:
Developing strong relationships with developers and real estate agents takes time and patience. By patiently networking and connecting with industry professionals, you gain access to a broader range of off-plan property options and valuable insights. Building relationships also increases your chances of receiving exclusive offers and being notified of upcoming projects before they are publicly announced. Rushing the process may limit your networking opportunities and hinder your ability to access the best off-plan property deals.
10) Emotional Preparedness and Peace of Mind:
Buying an off-plan property is a significant investment that can evoke a range of emotions. Patience allows you to be emotionally prepared and maintain peace of mind throughout the process. Taking the time to reflect on your financial goals, considering the risks and rewards, and understanding the potential challenges helps you approach the purchase with a calm and rational mindset. Rushing into a decision without patience may lead to regret or anxiety if unexpected hurdles arise.
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
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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