Cryptocurrency is steadily reshaping various economic sectors across the globe and Nigeria’s bustling real estate industry is no exception. This technological revolution did not pass unnoticed in Nigeria’s bustling and economically diverse city, Lagos.
Despite facing several bottlenecks and regulatory uncertainties, a growing number of real estate companies in Lagos Nigeria have bravely adapted and integrated cryptocurrency into their payment options.
The decision by these property moguls to accept full cryptocurrency has effectively widened their clientele reach and further digitized property transactions in Nigeria.
It is with this growing shift in focus that we have meticulously selected and will delve into the Top 15 Real Estate Companies in Lagos Nigeria who accept full cryptocurrency in 2024.
Join TransferXO, as we explore this unique nexus of real estate and digital currency in the vibrant, economic heartbeat of Nigeria, Lagos.
The Cryptocurrency Adoption in Nigeria
Cryptocurrency adoption in Nigeria has grown significantly, thanks to favorable regulatory developments and increased interest among businesses. Recognizing the vast potential of digital currencies, Nigeria’s Central Bank is planning to introduce a legal framework that facilitates cryptocurrency use.
These policies reflect an advanced, progressive approach to fintech regulation. Moreover, many Nigerian businesses are investing in cryptocurrency. Fintech startups and larger corporations are accepting Bitcoin and other digital currencies as legitimate payment methods.
Nigeria has even been touted as one of the biggest Bitcoin markets globally. These advancements position Nigeria as a leading figure in Africa’s cryptocurrency landscape, offering its people a promising economic outlook through crypto-assets.
This cryptocurrency evolution stands as a testament to the country’s efforts towards creating a vibrant digital economy.
Overview of the Lagos Real Estate Market
Lagos State is one of the most dynamic and populated states in Nigeria, having a thriving real estate industry. The Lagos real estate market is rapidly expanding and extremely diverse, with numerous opportunities for both business and residential property investments.
The Lagos real estate market is divided between commercial and residential properties, and both have experienced tremendous expansion in recent years. Currently, the residential portion of the Lagos real estate market accounts for around 75% of the market, with commercial property accounting for the remaining 25%.
The Lagos real estate market is being pushed by a growing population (nearly 22 million people), increasing urbanization, and economic expansion. These forces have resulted in the construction of more sophisticated properties as well as an influx of both domestic and foreign investors.
In the Lagos real estate market, the following patterns can be seen.
- Increased Demand for Luxury Real Estate
- Smart Home Development
- Design Innovation and Sustainable Development
The Benefits of Using Cryptocurrency in Real Estate Transactions
Cryptocurrencies, especially Bitcoin, have grown immensely popular over the past few years. While they were primarily used for trading and investing, cryptocurrencies are now being used for all types of transactions, including real estate.
Here are some benefits of using cryptocurrency in real estate transactions:
1. Speed of transactions
Traditional bank transactions can be slow, particularly for international deals. Sometimes it can take days for a payment to go through.
On the other hand, cryptocurrency transactions can happen almost instantly, making it easier and faster for both buyers and sellers to complete their transactions.
2. Reduced Transaction Fees
Fees and exchange expenses are common in traditional banking systems and internet money transfers.
Cryptocurrencies may minimize these costs as they are peer-to-peer, meaning that they go from the buyer to the seller directly without any intermediaries.
Cryptocurrency transactions provide transparency and traceability. Every transaction is recorded in a public ledger (blockchain), which can reduce the potential for fraud.
Cryptocurrencies can be used by anyone with an internet connection. This can be particularly beneficial in real estate transactions as properties can be purchased from anywhere in the world.
5. Enhanced Privacy
When you make a real estate purchase using traditional means, it’s not uncommon for your details to be leaked. However, transactions with cryptocurrencies can be completed while maintaining your privacy, as they do not necessarily need personal details attached to them.
6. Potential for growth
If a buyer purchases property using a cryptocurrency, and the value of that cryptocurrency rises, the buyer’s investment in the property could potentially be worth more than they initially paid.
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Top 15 Real Estate Companies in Lagos Nigeria who Accept Full Cryptocurrency in 2024
As cryptocurrencies become more accepted worldwide, some real estate companies in Lagos, Nigeria have started accepting it as a means of payment.
In 2024, these forward-thinking real estate companies are making significant strides in the Nigerian property market by integrating crypto into their operations.
1. LandWey Investment Limited
Km 42, Lekki Epe expressway, Oko Addo, Aja, Lagos
Tel: 0809 675 6024
LandWey Investment Limited is a leading real estate company in Lagos, Nigeria that is adopting the new wave of digital currency transactions by accepting cryptocurrency.
Known for its vast range of premium and luxury properties across Lagos, LandWey’s move toward digital currency acceptance aligns with its commitment to stay ahead of the market and incorporate innovative financial technologies into its operations.
This tech-forward initiative offers customers an alternative and hassle-free method of property transactions, with swift cross-border transfer benefits, privacy protection, and a level of decentralization that could encourage more investments into the Nigerian real estate market.
This shows that LandWey Investment Limited is forward-thinking and receptive to change, striving to create more opportunities for its customers globally.
2. GRENADINES Homes
Mayfair Gardens, Awoyaya 105101, Lagos
Tel: +234 01 453098
GRENADINES Homes is another reputable real estate company in Lagos that is championing the integration of cryptocurrency into its payment options. By accepting Bitcoin, the most popular cryptocurrency, GRENADINES Homes signals its flexibility and readiness to embrace the opportunities and advantages offered by digital currencies.
They aim to tap into the global market by eliminating the difficulties often associated with traditional currency exchange and transactions.
The acceptance of cryptocurrency does not only present GRENADINES Homes as a company that values financial innovation and transparency, but it also reassures potential investors of the ease and efficiency in executing transactions, making them a top choice for individuals who wish to own property in Lagos and pay via cryptocurrency.
Their acceptance of cryptocurrency shows their adaptability in a rapidly changing financial landscape.
3. Coveland Limited
18 Carter Street, Herbert Macaulay Way Lagos NG, Ebute Metta, 101212, West
Tel: 0703 123 3603
Coveland Limited, a premium real estate company based in Lagos, Nigeria, has redefined the standards of modern real estate transactions by integrating cryptocurrency payments into their payment system.
Recognizing the global rise in the usage of cryptocurrencies and their significant benefits such as immediate transaction processing and lower transaction fees, the firm now accepts payments for properties in popular digital currencies. They believe in using the latest advancements in technology to provide more convenience and security to their customers.
By adopting cryptocurrency, Coveland Limited has indeed exemplified its commitment to the adoption of innovative business solutions in a dynamic business world.
This makes it easier for foreign investors, digital nomads, or local crypto-enthusiasts to invest in Nigerian properties through a transparent, efficient, and user-friendly method of payment.
4. Euc Homes
Suite 1-47, Ikota shopping complex, Vgc, Lekki, Ajah -Lagos
Euc Homes, a top-ranking real estate firm in Lagos, Nigeria, has showcased its trailblazing attitude by embracing cryptocurrency transactions for their real estate services.
By acknowledging the role of cryptocurrencies as the ‘money of the future,’ Euc Homes has positioned itself as a forward-thinking, tech-savvy firm in a largely traditional industry.
Accepting popular digital currencies for property transactions demonstrates the company’s commitment to leveraging cutting-edge technologies and fostering an inclusive economy where people have the freedom to choose their preferred method of payment.
Through this, Euc Homes has taken a monumental step towards reducing barriers to home ownership, particularly for international customers or cryptocurrency holders, while also creating a seamless, modern, and convenient customer experience for clients worldwide.
They remain dedicated to adapting their operations to the changing demands and trends of the digital economy.
5. Seso Global
21 Ahmed Onibudo St, Victoria Island, Lagos
Seso Global is a leading real estate marketplace in Lagos, Nigeria, recognized for embracing the future of finance by accepting cryptocurrency as payment. With this innovative step, Seso Global has positioned itself as a pioneer among real estate companies, demonstrating adaptability to changing times and trends.
Clients who prefer using digital currency over traditional currency can effortlessly buy, sell, or rent properties in the comfort of their homes. Cryptocurrency transactions with Seso Global ensure more than just convenience, they also offer security and a smoother, faster transaction process.
With their blockchain-based platform, Seso Global effectively reduces the chances of fraud while improving the overall transparency in the property acquisition process.
Their use of cryptocurrency thereby not only enhances customer experience but also puts them at the forefront of financial technology integration in Nigeria’s real estate market.
6. CDV Properties & Development Limited
34V PLACE , 14 OTUNBA ADEDOYIN OGUNGBE CRESCENT, OFF The Providence St, Lekki Phase 1, Lekki
Tel: 0702 696 6813
One of the pioneering real estate companies in Lagos accepting cryptocurrency is CDV Properties & Development Limited.
Recognizing the increasing prevalence of cryptocurrency in financial transactions, CDV has integrated it as a payment method for their range of luxurious, contemporary-designed properties.
By doing this, they ensure that their services remain accessible and convenient for a wide range of clients. Moreover, they believe in the power of cryptocurrency to create a faster and more secure transaction environment, devoid of typical banking delays or the challenges of currency exchange rates.
For international investors or those familiar with digital currency, CDV offers an unparalleled advantage in property acquisition. With a strong dedication to modern and efficient transactions, CDV Properties continues to shape the real estate landscape in Lagos.
7. Pragmatic Real Estate
775a Somide Odujinrin Ave, Omole Phase 2 105102, Lagos
Tel: 0814 657 1303
Based in Lagos, Nigeria, Pragmatic Real Estate has embraced the shift towards digitized monetary transactions. In line with modern technological trends, they have incorporated the use of cryptocurrency in their business transactions, offering a seamless and easy mode of payment.
The company recognizes that crypto payments enhance financial transparency, offer decentralized transactions, and bypass transaction fees usually associated with traditional bank transfers. Not only does this expedite property acquisition but also bolsters security, providing both buyers and sellers with additional layers of protection against fraudulent activities.
Pragmatic’s commitment to accepting cryptocurrency reflects its readiness to align with technological trends and evolving market demands, solidifying its place as a leading, progressive, and modern real estate company in Lagos.
8. Brickmakers Real Estate Professionals
Lagos Business School, Eti-Osa 106104, Lekki, Lagos
Based in Lagos, Brickmakers Real Estate Professionals is dedicated to implementing cryptocurrency transactions within its operations, driving the digital revolution within Nigeria’s real estate sector.
Brickmakers, which already enjoys a reputation for offering innovative and strategic real estate solutions, recognizes the growing popularity and benefits of cryptocurrencies.
Their commitment to accepting cryptocurrency extends their global reach by catering to international clients and offering faster, cheaper, and more efficient payment methods.
Their step into this blockchain-based mode of payment promotes the protection of asset values by mitigating foreign exchange risks associated with traditional forms of payment.
This dynamic approach highlights Brickmakers’ innovative vision, as the company embraces emerging trends and adjusts to a rapidly evolving digital market landscape in the real estate industry.
9. Eko Atlantic City
1684 Sanusi Fafunwa St.
Victoria Island, Lagos
Eko Atlantic City is one of the innovative real estate companies in Lagos that are revolutionizing property transactions by accepting cryptocurrency. Being at the cutting edge of technological innovation, Eko Atlantic City is creating a seamless platform where people can purchase and rent properties using cryptocurrency.
This dynamic city believes in creating sustainable solutions to meet contemporary challenges and provide future-proof living and working spaces. As part of its commitment, Eko Atlantic City has seamlessly integrated blockchain technology into its system.
With its solid embrace of digital currency, Eko Atlantic City provides a safe, secure, and highly efficient transactional process that guarantees quick deals, financial transparency, and no room for fraud. It empowers potential homeowners to participate in the burgeoning digital economy, making homeownership more accessible and straightforward.
10. Novarick Homes and Properties Limited
28 Daniyan Natalia St, Lekki Phase 1 100001, Lekki, Lagos
Tel: 0906 531 8358
Novarick Homes and Properties Limited is among the trailblazing real estate companies in Lagos that have adopted cryptocurrency. It is an innovative property firm committed to building sustainable and eco-friendly communities with excellent architectural design and style.
Recognizing the changing global financial landscape and the value proposition of blockchain, Novarick Homes has made a significant move by accepting cryptocurrencies as a form of payment.
Their acceptance of digital currency provides a secure, cost-effective, and fast transaction process, with no risk of inflation or government intervention.
This avant-garde approach not only validates the global importance and growing popularity of cryptocurrencies but also demonstrates Novarick’s commitment to making real estate transactions seamless, more straightforward, and available to cryptocurrency enthusiasts. Thus, facilitating a smooth transition to the digital economy in Nigeria’s real estate sector.
11. Bamboo Island
TBS, 45 A Campbell St, Lagos Island, Lagos
Tel: 0802 314 0405
Located in the heart of Lagos, Bamboo Island is a progressive real estate firm that proudly accepts cryptocurrency for property transactions. Known for offering premium residential and commercial spaces, this firm understands the growing prominence of digital currencies.
Its commitment to cryptocurrency transactions emanates from the desire to create a simplified, yet innovative property acquisition process. Embracing cryptocurrency payment allows Bamboo Island to cater to an expansive global client base, and supports smooth, efficient, and swift transactions devoid of traditional banking delays.
Additionally, it enhances the transparency and traceability of payments. Bamboo Island is paving the way towards a more technologically advanced, borderless, and accessible property market. With the advent of cryptocurrencies such as Bitcoin, Bamboo Island’s clients now have an easy and modern way to purchase real estate.
12. RevolutionPlus Property Development Company
RevolutionPlus House. No 1 Olufunmilola Okikiolu Street, Off Toyin Street Ikeja Lagos.
As an industry-leading property development company in Lagos, RevolutionPlus Property Development Company is dedicated to staying at the forefront of the real estate sector by embracing novel concepts like cryptocurrency transactions.
This prestigious firm deals in both commercial and residential properties, extending its services to accommodate modern modes of payment like cryptocurrencies. Their forward-thinking approach aligns with their philosophy of always prioritizing customer convenience and satisfaction.
The acceptance of digital currencies at RevolutionPlus ensures fast, secure, and hassle-free transactions. More so, it underlines the company’s mission to revolutionize the property market and promote a more flexible, reliable, and convenient property buying experience.
By accepting cryptocurrencies, RevolutionPlus is not only meeting international standards but also enhancing its potential to attract a global clientele in the contemporary digital era.
13. Merit Abode Nigeria Limited
52 Ajanaku Street, Awuse Estate, Opebi – Ikeja, Lagos State.
Merit Abode Nigeria Limited is a reputable real estate firm located in Lagos that accepts cryptocurrency as a method of payment for its wide range of properties. The company has taken a bold step in embracing technological innovation and incorporating it into its business model.
Merit Abode understands the changing financial landscape and the role of digital currencies, thus making it easier for crypto-enthusiasts to invest in real estate. Their commitment to crypto-transactions provides flexibility to their customers by offering an alternative and more convenient payment option.
By acknowledging the global trend towards digital currencies, Merit Abode is enhancing the purchasing experience, contributing to Nigeria’s digital economy, and leading the real estate sector towards a technologically advanced future.
14. Adron Homes & Properties
75, Adron Court, Adeyemo Akapo, Omole Phase 1, Lagos.
Adron Homes & Properties is a leading real estate company in Lagos, known for its dedication to leveraging technology in delivering outstanding services to its clients. Among their progressive practices, they accept cryptocurrency as a form of payment, setting them apart in the Nigerian real estate market.
The company’s decision to embrace cryptocurrency transactions symbolizes its adaptability to evolving financial technology. Adron Homes recognises the immense potential and popularity of digital currencies in the modern business landscape.
Accepting cryptocurrency as payment allows the company to streamline the transaction process and provides more versatility to customers. By keeping pace with digital trends and opening the gates for cryptocurrency, Adron Homes is broadening the opportunities for investments in real estate and becoming a trendsetter in their industry.
15. Amen Estate
Emerald Road, Eleko Beach Rd, Lagos
Tel: 0805 756 4091
Amen Estate is one of the reputable real estate companies in Lagos that accepts cryptocurrency as a mode of payment. Located in the lush landscape of the Lekki Peninsula, Amen Estate prides itself as one of the trendsetters in real estate innovation.
They began to accept Bitcoin payments to simplify the buying process for clients, especially international clients, providing a quicker and more secure method of payment.
The real estate firm recognizes the value and potential of digital currencies, as well as its growing acceptance worldwide. Their acceptance of cryptocurrency signifies their commitment to incorporating technological advancements in their services, creating more flexible and modern transactions.
By enabling the use of cryptocurrencies, Amen Estate further solidifies its customer-friendly services, ensuring ease of transaction for property buyers both locally and internationally. Their continuous integration of these progressive strategies further sets Amen Estate apart as a trailblazer in the real estate industry.
Challenges and Risks Associated With Cryptocurrency Transactions in Real Estate
As cryptocurrency becomes increasingly mainstream, it’s no surprise that more sectors are beginning to accept it as a form of payment, including the real estate industry.
However, as intriguing and beneficial as this emerging trend may be, it is also rife with risks and challenges that can potentially hinder a successful real estate transaction. Here, we explore these risks.
1. Market Volatility
Cryptocurrency is infamous for its wild price swings. Bitcoin, for instance, can increase or decrease by thousands of dollars within a single day. In a real estate transaction, the fluctuation in cryptocurrency value may lead to issues between the buyer and seller.
The cryptocurrency’s value at the beginning of a transaction could be very different from when it’s time to close the deal, which could result in disagreements over how much cryptocurrency should be transferred.
2. Regulatory Uncertainties
While cryptocurrencies have gained legal status in many countries, there’s still a significant level of regulatory uncertainty worldwide. In some jurisdictions, real estate transactions conducted with cryptocurrency might not be recognized as legally valid, making them risky.
Regulatory scrutiny could also affect the perceived value of certain cryptocurrencies, leading to price drops and other issues. Real estate investors who have sunk large sums of money into cryptocurrency might find themselves holding an asset that’s no longer worth what they paid.
3. Fraud and Security Issues
While blockchain technology underlying cryptocurrency is considered highly secure, there are still potential risks.
These include fraud from unscrupulous sellers, theft by hackers, or even the loss of one’s cryptocurrency through misplaced keys (cryptographic strings of characters that allow access to the crypto funds).
4. Technological Complications
Not all real estate agencies, lawyers, or financial institutions have the necessary know-how to deal with cryptocurrency transactions, which could complicate the process.
Technical glitches could delay or hinder transactions, especially if the professionals involved are not well-versed in the intricacies of crypto technology.
5. Limited Precedent
Cryptocurrency transactions in real estate are still relatively new. Consequently, there’s limited precedent for handling them, and unforeseen complications could arise. A lack of familiarity and precedence could slow down the transaction process, making it less efficient than traditional methods.
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The real estate market in Lagos has the potential for massive growth through cryptocurrency adoption. Currently, there’s an increase in real estate firms accepting Bitcoin as a form of payment, showing the acceptance and integration of digital currencies into the mainstream market.
This trend not only gives a faster and safer method of transactions but also broadens the customer base to include international investors. With blockchain technology providing a secure platform for transparent transactions, issues such as double ownership or fraudulent transactions can be drastically reduced.
The inclusion of smart contracts can further automate the leasing or purchasing process. In the foreseeable future, this can revolutionize how property ownership and real estate investment is conducted in Lagos.
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Frequently Asked Questions
Which types of cryptocurrency do these real estate accept?
Most real estate companies that accept cryptocurrency as a payment method in Lagos tend to accept popular types like Bitcoin, Ethereum, and occasionally other altcoins.
Is there any legal issue associated with buying real estate properties with cryptocurrency?
As long as both parties agree to the terms, the transaction is lawful. However, it is recommended to consult a lawyer for legal advice. Be aware that Nigeria’s central bank has previously expressed caution towards cryptocurrency, which can introduce potential challenges.
Can the value of my property fluctuate based on the crypto market?
Once you have purchased the property and the transaction is complete, the value of the property is independent of cryptocurrency fluctuations.
How is buying real estate with cryptocurrency different from buying with traditional money?
While traditional money transactions may involve banks and potential delays, cryptocurrency transactions can happen quickly and easily. The absence of a central governing body may offer fewer regulations but can also mean less security in the case of a dispute.
The progressive move by several real estate companies in Lagos, Nigeria to embrace cryptocurrency payments underlines the dynamic evolution in global financial transactions.
With Bitcoin and other cryptocurrencies being accepted as legal tender for property transactions, the real estate market is evolving and diversifying, providing new opportunities and added flexibility for potential investors.
Moreover, this integration of technology speaks volumes about Nigeria’s real estate market’s adaptability and hints at the significant potential for further technological innovations within this sector in the future. It certainly establishes Lagos as a promising hub for future-oriented property investors globally.