Why are off-plan sales appealing to developers and potential property buyers in Nigeria?

For many years, the off-plan sales model has been an effective strategy real estate developers employ to raise capital for projects.

Buying or renting off-plan means that potential buyers or renters are making a financial commitment to a property even before it has been completely built. While this is a very reliable capital-raising strategy for the developer, it also has several benefits for the buyer.

One such benefit is that it is a form of forward contract to lock in the price of a property and start enjoying capital appreciation immediately after the property is completed.