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Investment

Investment climate

What is the general climate of real estate investment in your jurisdiction?

Return on investment is usually high, especially when the property is located in a prime real estate area.

Investors

Who are the most common investors in real estate?

Local private investors, foreign investors and corporations are the most common investors in real estate.

Are there any restrictions on foreign investment in real estate?

There are no restrictions on foreign investment in real estate. However, a foreign party cannot acquire absolute title in land for more than:

  • 90 years in the northern states; or
  • 99 years in the eastern states.

In Lagos state, no foreign party can acquire a right of absolute ownership over land from a Nigerian party. However, foreign parties can hold a lease for up to 25 years (Section 2 of the Acquisition of Land by Aliens Law, Cap A 2, Laws of Lagos State 2003).

Investment structures

What structures are typically used to invest in real estate and what are the advantages and disadvantages of each (including tax implications)?

N/A.

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