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

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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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Why Dantata will be buried in Saudi Arabia tomorrow

Dantata, 94, an uncle of Africa’s richest man Aliko Dangote, is survived by three wives, 21 children and 121 grandchildren.

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Business mogul and philantrophist Aminu Dantata, is set to be buried tomorrow (Tuesday) in Medina, Saudi Arabia after he died on Saturday in the United Arab Emirates.

Sources closed to the family disclosed that it was Dantata’s wish to be buried in a city he adored and where Islam’s prophet Muhammad lived and died.

Dantata, 94, an uncle of Africa’s richest man Aliko Dangote, is survived by three wives, 21 children and 121 grandchildren.

His body was set to be transferred from Abu Dhabi, where he died, to the holy city of Medina after Saudi authorities approved his burial in their country.

Background and Wealth

He was known across Nigeria for his philanthropic activities.

Last year, he donated 1.5 billion naira ($972,000; £710,000) to victims of the devastating floods in north-eastern Borno state.

His business interests cut across agriculture, real estate, construction and manufacturing.

He first made his name in agriculture, starting trading kola nuts and groundnuts in the 1940s.

He came from a business family – his father Alhassan Dantata was once considered to be the richest man in West Africa.

Despite his riches, Dantata lived in one of the poorest areas of the northern city of Kano, like his parents before him.

His influence was also felt in politics, with politicians eager to seek his blessings before elections.

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ALLEGED DEFAMATION: ‎Court Grants Senator Akpoti-Uduaghan bail

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… As Trial begins September 2

Nigerian Senator, Natasha Akpoti-Uduaghan has been arraigned at the Federal High Court in Abuja, over alleged defamation of Senate President Godswill Akpabio and former Kogi State Governor Yahaya Bello.

This is the second arraignment for similar charges, as she was also arraigned on June 19, 2025, at the Federal Capital Territory (FCT) High Court.

‎Like in the previous arraignment, the Kogi Central Senator has pleaded not guilty to what she is being accused of.

A six-count charge against her stems from statements she allegedly made during a live television broadcast on April 3, 2025, and in a telephone conversation on March 27, 2025.

‎The Federal Government, through the Attorney General’s office accuses Akpoti-Uduaghan of claiming that Akpabio and Bello conspired to orchestrate her assassination.

She is also accused of making statements regarding the alleged use of organs from a deceased individual for Akpabio’s wife.

The government contends that she made these imputations knowingly or with reason to believe they would harm the reputations of Akpabio and Bello, an act deemed to be criminal.

‎At her arraignment on June 19, she pleaded not guilty to all charges and was granted bail in the sum of N50 million with one surety. The prosecution had initially requested her remand in a correctional facility, which was opposed by her legal team.

‎At the Federal High Court, however, Senator Akpoti-Uduaghan has been granted bail on self-recognition, being a serving Senator. The judge, Muhammed Umar, then fixed September 22 for the start of trial.

‎Similarly, Akpoti-Uduaghan has also filed a suit challenging her six-month suspension from the Senate, and a ruling on that matter, along with contempt proceedings, is expected on July 4, 2025. Justice Binta Nyako of the Federal High Court is presiding over that particular case.

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NDLEA nabs drugs trafficking Ex-footballer

Investigation showed that the suspect was coming from Turkey on an Ethiopian Airlines flight but transited through Addis Ababa, Ethiopia, where he collected the luggage from another person before heading to Nigeria.

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Operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested an ex-international football player, Segun George Hunkarin, along with his business partner Ntoruka Emmanuel Chinedu, over an attempt to smuggle a consignment of cocaine into Nigeria through the Murtala Muhammed International Airport,(MMIA) Ikeja, Lagos.

Chinedu, a frequent flyer known for transporting clothes from Turkey to Nigeria and foodstuffs from Nigeria to Turkey, was the first to be arrested upon his arrival at the Lagos airport on Tuesday, 24th June 2025.

Spokesman of the agency, Femi Babafemi, said, “A search of his carry-on bag revealed 37 wraps of cocaine weighing 800 grams were concealed therein.

“Investigation showed that the suspect was coming from Turkey on an Ethiopian Airlines flight but transited through Addis Ababa, Ethiopia, where he collected the luggage from another person before heading to Nigeria.

Further checks revealed that an accomplice, who turned out to be the former professional footballer Segun Hunkarin, was waiting for Chinedu at the airport carpark to collect the consignment from him.

“Hunkarin, who had stayed years in Brazil playing for football clubs, was promptly tracked and arrested at the carpark.“

In his statement, Hunkarin claimed that while playing professional football in the South American country, he had only trafficked drugs twice from Brazil to Ethiopia but had never brought any to Nigeria.

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