When you think of investments, things like shares, gold, and cryptocurrencies come to mind, but one asset that is often overlooked by Gen Z is land, and it’s easy to understand why: not everyone has extra millions sitting around to buy land.
The upside of land is that the risk is almost always worth the reward if you do it right. The land you buy for ₦1,000,000 today can easily be worth ten times that amount in five years. Real estate has many benefits. Unlike most forms of investment, it is relatively stable, resilient to inflation, and has potential for high returns.
Real estate can be confusing for a first-time buyer, and it is easy to fall victim to scammers if you have no idea what to look for. Buying land in Nigeria can be one of the smartest financial decisions or one of the most expensive mistakes you’ll ever make. We spoke to Barr. Kaosarat Raji, a real estate consultant and property law enthusiast who shared five critical things you should know before you pay that deposit or get excited about a “hot deal.”
1. If It Looks Too Good to Be True, It Probably Is
Nigeria has 923,768 km² of land, but only a small percentage of that is prime, legally secure, and commercially viable real estate. Good land, especially in growing urban areas, has a market value, and that value doesn’t drop randomly. Before buying, always compare the asking price with similar properties in the same location. If a plot is selling far below the average market rate, consider it a red flag, not a bargain. Cheap land is often cheap for a reason: the seller may not be the rightful owner, the land could be under government acquisition, there may be use restrictions (e.g., agricultural-only land), or the area could be flood-prone or environmentally unsafe. Barr Kaosarat mentioned that she has seen buyers celebrate “cheap land” only to discover later that they can’t build, sell, or even access it. Always investigate before you pay.
2. Diversify if You Can – Don’t Put All Your Eggs in One Basket
Creating wealth in real estate isn’t just about how much you own; it’s about how wisely you buy. Just because you can buy ten plots of land somewhere doesn’t mean you should. Like every other investment, real estate performs better with diversification. If you have the financial capacity, spread your investments across residential areas, commercial or business districts, and developing or industrial zones
Markets change, infrastructure plans shift, and some locations grow faster than others. Diversifying reduces risk and increases your long-term chances of appreciation and steady returns. Smart investors think long-term, not just quantity.
3. Always Speak to a Lawyer (From the Start)
One of the most common problems in Nigeria’s land market is unauthorised sales. It’s very common for someone to try to sell family land simply because they belong to the family, but not everyone in a family has the legal right to sell land. Buying land from the wrong person can land you in court cases that last for years, multiple ownership disputes, or a total loss of your investment.
Yes, you can do a land search yourself at the Land Registry, but at some point, you will need a lawyer. The smartest move is hiring one from the very beginning. A property lawyer will verify the title, confirm that the land is free from government acquisition, check for existing disputes or restrictions, and draft proper documents for ownership transfer. A small legal fee can save you millions and years of stress.
4. Understand the Type of Title on the Land
Not all land titles offer the same level of security. Many buyers hear terms like C of O, Gazette, or Deed of Assignment and assume they’re all equal, but they are not. Each title type comes with its own legal strength, risks, and process for perfection. A C of O (certificate of occupancy) is a government-issued document that says the state recognises you as the lawful holder of that land and gives you the legal right to occupy the land for 99 years. A deed of assignment, on the other hand, is a contract typically prepared by a lawyer showing that ownership was transferred from a seller to a buyer. It must be registered at the Land Registry to be recognised as valid proof of ownership.
A gazette is an official government publication informing the public that the land has been removed from government acquisition and released to individuals or communities. Understanding what you’re buying and what it takes to fully secure it is crucial. Never rely on verbal assurances that a land is safe to buy; always demand documentary evidence and have it verified.
5. Location is More Than Just Popularity
Where a land is situated largely determines its value. This is why land in places like Ikoyi and Wuse costs more than land in lesser-known places like Epe, but location is more than just popularity or trendiness. Good locations have access roads, proximity to schools, markets, and transport, infrastructure plans, government development plans, drainage systems, and no flood history.
A quiet area today could be the next growth hub, or it could remain stagnant for decades. Research beyond social media hype and estate marketing promises
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