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Understanding the Differences: Leasehold vs. Full Ownership Apartments by Dennis Isong

WHEN it comes to purchasing property, one of the fundamental decisions that prospective buyers must make is whether to opt for a leasehold or full ownership apartment. Each type of ownership has its own set of advantages and drawbacks, catering to different preferences, financial situations, and long-term goals.
Leasehold Apartments:
In the heart of Lagos, where the pulse of the city reverberates through its streets, people and businesses, the concept of leasehold unfolded in the neighborhood of Victoria Island.
This vibrant area, known for its mix of commerce and culture, became the backdrop for a story that unfolded at the crossroads of tradition and urban development in real estate.
Ade is a savvy entrepreneur with dreams of establishing a trendy cafe along the bustling waterfront.
Eager to realize his vision, Ade explored the world of leasehold agreements, a path that offered him access to prime real estate without the hefty burden of outright ownership.
Ade found a property owned by a longstanding family in Victoria Island. The family, hesitant to sell their ancestral land, opted for a leasehold arrangement that would allow Ade to operate his cafe while preserving the family’s connection to the place that held generations of memories. Ade transformed the space into a hub for creativity and conversation.
Meanwhile, the family retained a sense of ownership, participating in the cafe’s success while maintaining the historical significance of their land.
The neighborhood, once accustomed to traditional ownership models, began to witness the harmonious coexistence of progress and heritage. The leasehold, in this corner of Lagos, became a bridge between entrepreneurial aspirations and the rich family history.
Ade’s cafe, with its leasehold roots, became a symbol of innovation and collaboration. It stood as a testament to the adaptability of Lagos, where the spirit of entrepreneurship could flourish without severing ties to the past.
The story of Ade’s cafe echoed through the vibrant streets, showcasing how leasehold arrangements could weave a story of continuity and change in the dynamic fabric of Lagos.
Leasehold apartments involve the buyer acquiring the right to use the property for a specified period, typically ranging from 99 to 999 years.
However, the land on which the property is built remains owned by a landlord or freeholder.
In a leasehold arrangement, the buyer essentially leases the property from the freeholder. This means that while they have the right to occupy and use the space, they do not own the land beneath it.
Leaseholders are often required to pay ground rent and service charges to the freeholder. Also, there may be restrictions on making alterations to the property, and obtaining permission may involve additional costs.
The finite nature of the leasehold means that buyers should be aware of the remaining lease duration.
As the lease term diminishes, the property’s value may decrease, potentially impacting resale value.
Leasehold apartments involve the buyer acquiring the right to use the property for a specified period, typically ranging from 99 to 999 years
Full Ownership Apartments:
Sometimes ago in Ikoyi, Lagos, a story unfolded that captured the essence of full ownership in real estate. Ngozi is a successful businesswoman with a vision of creating a haven of comfort and elegance for her family.
Drawn to the serenity of Ikoyi, she embarked on a journey for a residence that would reflect her aspirations. Ngozi came across a penthouse in Azure Heights.
The process of acquiring the property involved careful legalities and paperwork, but as Ngozi received the keys to her penthouse, a profound sense of ownership and accomplishment washed over her.
The expansive living room, adorned with floor-to-ceiling windows framing panoramic views of the Lagos skyline, became a canvas for her dreams. As Ngozi settled into her new home, she felt a deep connection to the Ikoyi neighborhood.
Azure Heights, with its full ownership model, allowed her to not only enjoy the lavish amenities within the building but also embrace the exclusivity of belonging to one of Lagos’s most coveted addresses.
Ngozi’s apartment became a symbol of personal achievement, a testament to the possibilities that awaited those who aspired to own a piece of Lagos’s dynamic real estate.
Full ownership, also known as freehold, grants the buyer complete ownership of both the property and the land it stands on. This type of ownership provides greater autonomy and fewer restrictions compared to leasehold.
Full ownership apartments mean that the buyer has control over the property in perpetuity. This includes the freedom to make alterations, additions, and decisions without seeking permission from a landlord.
Unlike leasehold properties, full ownership does not typically involve paying ground rent to a landlord. However, owners are responsible for all maintenance and repair costs, which can be both a benefit and a challenge depending on the individual’s preferences and financial capacity.
Full ownership is often seen as a more secure investment in the long run. The absence of a lease term expiration provides stability, and the property is likely to appreciate over time.
Conclusion
The decision between leasehold and full ownership often hinges on financial considerations. Leasehold properties may have a lower initial cost, but the long-term expenses, such as ground rent and service charges, should be factored in.
Individuals who value autonomy and control over their living space may find full ownership more appealing. On the other hand, leasehold may suit those who prefer a hands-off approach to property management.
Buyers should carefully assess the resale and investment potential of each type of ownership. Full ownership is often considered a safer bet in terms of long-term value, but leasehold properties can still be lucrative if managed wisely.
▪︎ Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041
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JUST IN: PSC threatens to kick out drug addicts in the system

The Police Service Commission has vowed to flush out drug addicts in the Nigeria Police Force and has extended an invitation to the National Drug Law Enforcement Agency to assist the Commission achieve this noble objective.
In a statement on Tuesday, Ikechukwu Ani, Head, Press and Public Relations said the PSC chairman made the vow during a visit to the Corporate Headquarters of the National Drug Law Enforcement Agency where it formally met with the Agency’s Chairman and Chief Executive and his Management team.
It said the Chairman of the Commission, DIG Hashimu Argungu, used the occasion to invite the Agency to join the Commission in all the processes of screening prospective Nigerians who are desirous of joining the Nigeria Police Force.
DIG Argungu, who was received by Brigadier General Buba Marwa, Chairman of the Agency, said there was need for a functional partnership between the Commission and the Agency in the fight to eradicate drug abuse in the Nigeria Police.
He commended the Agency for the assistance in screening intakes of the Police Academy, Wudil Kano which he said has drastically reduced the incidences of drug addiction by students of the Academy.
The PSC Chairman said there was need to upscale this assistance to cover the Recruitment processes in the Nigeria Police Force.
“We want you to help us fish out the drug addicts who obviously should not be allowed to get into and corrupt the system. We want to get it right and get the Police to work “.
DIG Argungu said it was dangerous to give fire arms to drug addicts and vowed that the Commission is poised to flush out such Officers in the Police Force.
The Chairman commended his host for his track record of excellence in the service of the nation.General Marwa, in his response, congratulated the Chairman on his deserved appointment and prayed for his success.
He pledged the Agency’s commitment to assist the Commission sanitize Police Recruitment.” We will try our best to bring the menace to an end, but it requires intelligence, sharing intelligence, training” he noted.
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RULAAC Commends DSS DG’s Human Rights Reforms, Tasks IGP to Emulate Same in the Nigeria Police Force
In stark contrast, the Nigeria Police Force has persistently failed to act on similar cases of abuse, even in the face of clear court judgments and public outrage.

July 22, 2025 – Lagos, Nigeria:
The Rule of Law and Accountability Advocacy Centre (RULAAC) has Commended the Director -General of the Department of State Services (DSS), Mr. Tosin Ajayi, for demonstrating a rare and commendable commitment to upholding human rights, the rule of law, and institutional accountability.
Okechukwu Nwanguma Executive Director of RULAAC, have the commendation today in a media statement.
The statement reads:
“We note with satisfaction the recent steps taken under his leadership to:-
Release a number of unlawfully detained individuals, including Abdulyakini Salisu, who had been in detention since 2022;-
Pay financial compensation to victims of unlawful arrest, wrongful detention, and mistaken identity;-
Tender official apologies to affected individuals;-
Provide medical support and rehabilitation to victims;-
Take disciplinary action against erring operatives responsible for these violations.
These actions represent a significant departure from the long-standing culture of impunity in Nigeria’s security sector and offer a concrete example of how security agencies can demonstrate — rather than merely tout — respect for human rights and the rule of law.
In stark contrast, the Nigeria Police Force has persistently failed to act on similar cases of abuse, even in the face of clear court judgments and public outrage.
A notable example remains the case of Glory Okolie, a young woman illegally detained by police officers attached to the Intelligence Response Team (IRT) in 2021 for over 150 days, during which she was abused and dehumanized.
Despite a Federal High Court judgment awarding her ₦60 million in damages and ordering her release, the Nigeria Police neither issued an apology nor took any disciplinary or remedial action.
RULAAC therefore calls on the Inspector General of Police (IGP) to:
1. Publicly acknowledge and apologize for past and ongoing human rights violations under the Nigeria Police Force;
2. Comply fully with all outstanding judicial orders, including payment of damages to victims like Glory Okolie;
3. Set up a dedicated human rights audit committee within the Force to review and redress cases of unlawful detention and abuse;
4. Institute disciplinary action against officers who violate human rights, as a deterrent and commitment to reform;
5. Embrace a leadership approach grounded in transparency, justice, and accountability, similar to the path now being charted by the DSS.
The credibility of Nigeria’s democracy hinges on the conduct of its law enforcement agencies.
We cannot continue to condone a culture where police impunity is the norm and citizens’ rights are routinely violated without consequence.
The recent actions by the DSS DG show that reform is possible — where there is the will.
The IGP and the Nigeria Police Force must show that they, too, are capable of change.
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UPDATE: Drama as security prevents Natasha from entering N’Assembly

There was drama at the entrance of the National Assembly complex in Abuja on Tuesday as security operatives barred suspended Kogi Central lawmaker, Senator Natasha Akpoti-Uduaghan, from gaining access to the premises.
The senator arrived at the gate accompanied by activist Aisha Yesufu, rights advocate Mama P, activist Randy, and a crowd of supporters, but was denied entry by security officials.
Yesufu, in a bid to intervene, confronted the officers stationed at the gate and challenged the order allegedly issued to block Natasha’s entry.
She said, “National Assembly is meant to be for everyone. Why are you stopping us?
“We are not abiding doesn’t mean we are cowards,” she said.
The standoff quickly escalated as some supporters began chanting “Push!” while attempting to force their way in.
Natasha’s supporters were later seen marching toward the complex, chanting solidarity songs.
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