Tope Adebayo LP calls for stronger regulation of Nigeria’s off-plan property market

Tope Adebayo LP has called for stronger regulatory safeguards in Nigeria’s off-plan real estate sector, warning that weak oversight continues to expose property buyers to fraud, project abandonment, and financial losses.

The law firm made the call in a report titled Regulating Off-Plan Real Estate in Nigeria: Comparative Insights and Reform Options, which examines the growing popularity of off-plan property acquisitions and the legal risks surrounding the market.

According to the report, off-plan property transactions have become increasingly attractive in recent years as buyers seek to secure properties at current prices with the expectation of future appreciation, while developers rely on advance payments from buyers as an alternative to institutional financing.