When considering investment opportunities in the real estate market, do you know the types of land to avoid in Nigeria?
Nigeria is a vast and diverse country, offering a wide range of land investment options. However, it’s equally important to be aware of certain types of land that may not be suitable for investment due to various reasons. In this article, we will explore the types of land you should avoid investing in Nigeria.
1. Untitled Land or Lands with Unclear Documentation
One of the types of land to avoid in Nigeria, is a land without a clear and valid land documentation. This is vital for any real estate investment. Lands with unclear or incomplete documentation, such as missing survey plans, title deeds, or proof of ownership, should be avoided. Investing in such lands can lead to legal complications and disputes for you in the future. So ensure you verify and validate all the necessary documents before proceeding with any land investment. As a result of this, the first enquiry you should make before purchasing a landed property is to know if the appropriate title document of the land is available.
2. Government-Acquired Lands or Committed Land
These lands are typically designated for infrastructure projects, public facilities, or urban development plans. Investing in such lands can lead to legal complications and potential loss of investment if the government exercises its right to reclaim the property. Therefore, investing in lands acquired by the government for public use should be approached with caution. And like we say in Nigeria, “shine your eye”.
3. Environmental Hazard Zones
Certain areas in Nigeria may be prone to environmental hazards such as waterlogging, flooding, erosion, or other natural disasters. Investing in lands located in such hazardous zones can expose you to significant risks, including property damage and the potential loss of your investment.
One case in point was the 2022 flood that affected over 300 communities and villages in Bayelsa, leaving properties destroyed, and some lives were lost.
Consequently, it is essential for you to study the geological and environmental conditions of an area before you consider making any investment there. It’s just common sense!
4. Agricultural Land
Agricultural lands are lands that have been allocated for farming purposes, so if the land is purchased for any other purpose that does not include farming; your chances of acquiring the proper title will be zero!
5. Transport Land
This land is used for roads, railways, airports, subways, and should not be acquired to avoid loss of money and demolition of your property.
Recently, the government of Rivers state carried out a massive construction of flyovers across the state, sadly a lot of buildings that were built along the paths earmarked for the construction of the flyovers were demolished leading to loss in millions of Naira.
But these losses can be avoided if you carry out the due diligence by identifying what purpose the government of the state has for the land; before you decide to make any payments.
6. Land Without Survey Plan
The survey plan is a map created through thoroughly examining, and measuring the boundaries, coordinates, building locations and landmarks on a piece of land.
The survey plan is a proof that shows that the land exists. Hence it is extremely important that you request for a survey plan before buying a property.
However, the possibility of buying a property without a survey plan is eliminated if you engage the services of a reputable real estate firm.
In conclusion, while Nigeria offers numerous opportunities for land investment, it is crucial to be aware of the types of land you should avoid investing in.
Government-acquired lands, environmental hazard zones, and lands with unclear documentation, are factors to consider when making investment decisions.
By conducting thorough due diligence, consulting experts, and assessing the potential risks associated with specific land types, you can make informed investment choices that maximize your chances of success in Nigeria’s profitable real estate market.
At Lujo Heights Homes Ltd, we are committed to helping you make informed and wise investment decisions.
Choose Lujo Heights Homes Ltd as your trusted partner to guide you towards profitable and secure investments in Nigeria. Contact us today to discuss how we can assist you in avoiding unfavorable real estate investments and embark on a successful journey in the Nigerian real estate market.
Your prosperous future awaits with Lujo Heights Homes Ltd!
Thank you Lujo, for sharing this interesting piece. I almost fell victim of one of the above last month but thanks for this timely info.