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Property costs in Lagos go far beyond the listed price, and many buyers only discover this after losing money.
But many buyers discover the truth too late.
The purchase price is only the beginning.
In Lagos, hidden property costs can increase your total spend by 10–25% if you are not prepared.
This guide explains the real costs of buying property in Lagos and how smart buyers avoid losses.
Lagos Government Fees: Most Buyers Don’t Plan For
Lagos State has some of the most structured—but costly—property charges in Nigeria.
Beyond the land price, you may pay for:
- Charting and survey verification
- Governor’s Consent
- Stamp duties
- Capital gains tax
- Registration and perfection fees
In prime Lagos locations, these fees typically range from 8% to 15% of the property’s value.
Buyers who skip proper documentation often face:
- Demolition risks
- Title disputes
- Inability to resell or mortgage
Smart investors work with professionals who handle verification and compliance from day one.
You can explore secure property acquisition support through Cedar Equities here:
👉 https://cedarequities.com.ng/
(Source: Cedar Equities, 2025)
Legal and Professional Costs That Protect Lagos Buyers
Lagos records some of the highest rates of property fraud in Nigeria.
Skipping legal support is a costly mistake.
Legal and professional fees usually cost 3–5% of the transaction.
That small percentage protects you from:
- Omo-onile claims
- Multiple sales
- Forged titles
- Family land disputes
Proper due diligence reduces fraud risk by over 60% in Lagos property transactions.
Professional firms also help buyers structure purchases properly, especially for high-growth areas like Lekki, Ikoyi, and Ikeja.
Learn more about structured real estate services on the Cedar Equities homepage:
👉 https://cedarequities.com.ng/
Ongoing Ownership Costs in Lagos You Must Budget For
Buying property in Lagos is not a one-time expense.
After purchase, owners face recurring costs such as:
- Lagos Land Use Charge
- Estate service charges
- Security and facility management
- Property maintenance
- Rental management fees
For rental properties and shortlets, poor management can reduce annual income by 20–30%.
Well-managed Lagos properties outperform unmanaged ones consistently, especially in high-demand areas with steady tenant flow.
Professional property management helps protect value and income long-term.
This is where experienced firms like Cedar Equities add real value.
👉 https://cedarequities.com.ng/
(Source: Cedar Equities, 2025)
Buying property in Lagos comes with hidden costs that many buyers miss.
Planning for government fees, legal protection, and ongoing expenses helps you avoid losses and protect your investment.
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