AFFORDABLE HOUSING IN LAGOS: PWAN STARS FLEXIBLE PAYMENT SCHEMES EXPAND HOMEOWNERSHIP OPPORTUNITIES FOR NIGERIANS

Shelter, or put in another way, housing, is one of the most basic and fundamental human needs anywhere in the world. It provides protection and safety against the elements, ensuring the well-being of individuals and communities. In the face of harsh conditions, extreme temperatures, and potential threats, having reliable shelter to lay your head is essential.

However, accessing affordable housing has become a major problem that societies the world over are grappling with. In recent times, Canada has been at the front of news headlines about worsening housing crisis. For instance, the housing market in the country is said to be among the most unaffordable, with one of the highest house-price-to-income ratios among OECD member states. Housing prices soared over 355 per cent between 2000 and 2021, while median nominal income increased by only 113 per cent.

The problem of lack of affordable housing is the same, maybe even worse in commercial cities of developing countries like Lagos, Nigeria. Undoubtedly, affordable housing in Lagos has become a pressing issue due to the city’s rapid population growth, high demand for homes, and escalating property prices. As one of Nigeria’s largest urban centers, Lagos faces a significant housing deficit, which makes it difficult for many middle and low-income earners to access homeownership.

A real estate consultant Vincent Umo Essien, in a recent interview with Vanguard Newspaper described the situation as a “systemic issue” that requires urgent government intervention and innovative solutions.

He said, “The housing crisis in Lagos isn’t just about availability. It stems from a financing gap caused by economic and social inequalities,” he explained.

“Developers are prioritizing luxury housing for quick returns, leaving out the majority who cannot afford these properties.”

However, visionary real estate companies like PWAN Stars Estates and Concerns Limited (“PWAN Stars”) are making strides in addressing this challenge by offering affordable housing solutions.

PWAN Stars focuses on providing budget-friendly homes in fast-developing locations in Lagos, with focus currently on Sangotedo.

In the last seven years, the company has developed a range of high-end but affordable housing schemes that cater to individuals with varying income levels, offering flexible payment plans that allow prospective homeowners to pay in installments over time. This approach enables people to gradually save for their homes without feeling financially overwhelmed.

In this article, we shall examine the top three housing products by PWAN Stars making high-end yet affordable housing available for people in Lagos. In this article, we shall examine the top three housing products by PWAN Stars that are redefining the real estate landscape in Lagos. These developments are tailored to bridge the gap between luxury and affordability, offering Nigerians the opportunity to own high-quality homes without the financial burden often associated with urban housing. With flexible payment schemes, strategic locations, and modern infrastructure, PWAN Stars is making it possible for more people—especially first-time buyers and middle-income earners—to invest in affordable housing in Lagos without compromising on comfort or security.

The Edifice Apartments

On Friday, 13th December 2024 in the vibrant town of Sangotedo in Lagos State, excited subscribers, the family and friends as well as the management and staff of PWAN Stars gathered for the official hand over of newly opened The Edifice Apartments to the smart subscribers. There was palpable joy and a sense of fulfilment in the air for both the members of the PWAN family and the clients on the closure of the project that has taken enormous resources to conclude. The Edifice Apartments is not just building, but a home for Lagos residents who value comfort and affordability.

Nestled in the vibrant and continually growing Ajayi Apata New Town, Sangotedo, within the Eti-Osa local government area of Lekki, Lagos, The Edifice Apartments indeed redefines modern comfort and functionality. Every detail of its construction and finishing has been carefully considered, establishing it as a symbol of affordable luxury living. Offering 12 units with premium modern designs, these apartments in Sangotedo represent a contemporary lifestyle tailored for discerning investors

Strategically located between Crown Estate and Fara Park Estate, The Edifice Apartments benefits from well-maintained roads and a reliable power supply, ensuring residents enjoy a secure and comfortable environment.

What distinguishes The Edifice Apartments is not only its prime location but also its thoughtfully designed interiors. Each unit boasts two or three-bedroom layouts, all with en-suite bedrooms and modern amenities that elevate the living experience. The spaces are expertly crafted to blend functionality with aesthetics, creating a welcoming atmosphere for residents.

With both fully finished and semi-finished options, these apartments allow for personalization based on your budget and preferences. The kitchens feature ample storage and efficient design for meal preparation.

Parking is easy and convenient with designated spaces for up to 24 vehicles, accommodating both residents and guests. Each unit also includes a guest toilet, perfect for entertaining.

Safety is a top priority, with modern wooden doors securing each unit’s entrance. Fiber optic internet connectivity is also available, ensuring seamless communication within the community.

These features, combined with the joy of seven families receiving their keys at handover, make The Edifice Apartments a truly remarkable place to call home. And guess what? It came at a relatively affordable price compared to its contemporaries in the area as part of PWAN affordable housing drive in Lagos.

The Edifice Apartments 2

Edifice Apartments Phase 2, like its predecessor, is crafted for buyers in search of affordable luxury living. The development is situated on a solid, dry plot of land and is supported by Governor’s Consent for added security. Its strategic location provides excellent accessibility and is conveniently located near some of Sangotedo’s most popular landmarks and amenities. 

One of the key highlights of Edifice Apartments Phase 2 is its competitive pricing, offering great value compared to other properties in the same area and price range. For example, a semi-finished 2-bedroom apartment is priced at N46 million, while the fully finished version is listed at N53 million. A semi-finished 3-bedroom apartment goes for N58 million, with the fully finished counterpart priced at N67million.

The development is now open for purchase, providing a prime opportunity for real estate investors to acquire property in a rapidly growing area. With the potential for significant value appreciation in the near future, Edifice Apartments Phase 2 offers a smart investment option for those looking to benefit from the expanding Lagos real estate market.

The Statement Residences

Number three on the list of the top products by PWAN Stars with affording housing schemes is The Statement Residences.

Also situated in Sangotedo, The Statement Residences brings to life a perfect fusion of luxury and lifestyle through 36 carefully crafted units, offering an extraordinary living experience. 

For anyone living in Lagos or planning to settle here, if you desire a home, where functionality and security come together to create a true sanctuary, The Statement Residences is the perfect choice. 

Stepping into any of our units—available in 1 and 2-bedroom configurations (with BQ)—you will discover a haven of relaxation right in the heart of Lagos, Nigeria. 

The Statement Residences also boasts an impressive range of excellent amenities designed to enhance residents’ well-being. From the refreshing swimming pool to the fully equipped fitness center, outfitted with modern equipment to cater to all your exercise needs, you will enjoy a truly remarkable living experience. The tranquil green spaces surrounding the property offer a peaceful retreat from the city’s fast pace, making it one of our most exceptional offerings—an opportunity not to be missed.

Key Features of The Statement Residences 

One standout feature of The Statement Residences is its robust and reassuring documentation. The property is secured by Governor’s Consent, the most important land ownership document in Lagos State. This document guarantees the property’s legitimacy, offering buyers and investors peace of mind regarding their investment. With this in place, you can confidently proceed, knowing the property is fully compliant with local regulations. 

Other key features include: 

Modern Design: The Statement Residences showcases a modern architectural design that seamlessly blends style and practicality. Large windows, spacious balconies, and an overall aesthetically pleasing appearance make the units truly appealing. 

Affordable Luxury: Offering luxury at relatively affordable prices, The Statement Residences by PWAN Stars stands out compared to similar developments in the Sangotedo area. In addition, flexible payment plans and mortgage options are available, including the “easy pay” scheme and a Family Homes Fund Help to Own mortgage, which offers faster processing and a higher success rate than the National Housing Fund. 

Variety of Apartment Choices: With 1-bedroom, 2-bedroom, and 3-bedroom apartments (with Boys Quarters) available, The Statement Residences caters to a wide range of lifestyles, from single professionals and couples to small and large families. 

State-of-the-Art Facilities: The property features top-tier facilities designed to enhance residents’ convenience and comfort, including well-paved roads, clean water, expansive play areas, streetlights, a gym, and 24-hour security.

Investment Opportunities at The Statement Residences

The Statement Residences offers several opportunities for prospective investors. They include:

1. Capital Appreciation: Capital appreciation is the difference between the purchase price and the selling price of an investment with real estate being one of the investments designed for capital appreciation. The Statement Residences is guaranteed to experience fast capital appreciation based on its choice location as a real estate investment hub, amongst other things.

2. Rental Income: The growing demand for residential properties in Sangotedo provides an opportunity for investors to generate rental income. By investing in The Statement Residences, investors can expect steady rental income from tenants.

Flexible Payment Plans

Another advantage of buying a unit of The Statement Residences is the flexibility that comes with its payment plans. With The Statement Residences in Sangotedo like other products of PWAN Stars, there is an opportunity for you to get a mortgage facility for up to 30 years at 6% per annum under the innovative Flexi-Pay scheme. With as low as One Hundred and Eighty Thousand Naira Only (N180k) monthly, you can own a unit of The Statement Residences in Sangotedo.

Why Choose The Statement Residences

Premium Apartments within reach

While luxury apartments are typically associated with high price tags, The Statement Residences offers a more affordable option for middle-class Nigerians who desire a life of quality living in Sangotedo. The combination of high-end amenities and competitive pricing makes it one of the best value-for-money real estate options in Lagos.

Strategic Location

Sangotedo’s rapid development, accessibility, and proximity to key commercial areas make it a prime location for real estate investment. Whether you are buying to live in or for investment purposes, The Statement Residences in Sangotedo offers a great location with plenty of potential for future growth.

Better Quality of Life

With its focus on providing a comfortable and convenient lifestyle, The Statement Residences offers residents access to modern amenities, secure living, and a community-focused environment. For families, professionals, and retirees alike, this development presents a well-rounded lifestyle option.

Nearness to Landmarks

Sangotedo is home to major landmarks and amenities that makes it a top choice for investors. Some of the major landmarks in Sangotedo include Novare Lekki Mall, Lagoon Front Estate, Sangotedo market, Lekki Free Trade zone, amongst others.

Conclusion

PWAN Stars is leading the way in providing affordable housing in Lagos without compromising on quality and comfort. With developments like The Edifice Apartments, The Edifice Apartments Phase 2, and The Statement Residences, the company is making homeownership a reality for many. PWAN Stars offers flexible payment plans, making it easier for Nigerians to become homeowners without straining their finances. With a perfect blend of comfort, class, and affordability, PWAN Stars is the top choice for those seeking quality homes in Lagos.