Some Abuja developers are making property resale unnecessarily difficult with exorbitant change-of-ownership fees and infrastructure levies.

For context, a change of ownership typically involves updating the developer’s records, by relinquishing the former owner’s allocation title, and issuing new ownership documentation/title- often an allocation letter- in the new owner’s/buyer’s name.

In my recent transaction, a developer demanded 5% of a ₦650 million property- I.e ₦32.5 million, on top of the agency fee already paid by my client. The deal nearly fell through, but intense negotiations secured a significant reduction.

Estate Developers have legitimate expenses, but charges must be proportionate, transparent and justifiable.

I have also experienced a “popular developer” who’s notorious for excessive transfer and infrastructure charges in parts of Life Camp etc particularly where the quality of existing infrastructure in his estate developments, do not appear to justify the amounts demanded thereby stalling lots of transactions for secondary sellers.

I think it’s time for clearer policies and regulatory oversight to promote fairness, protect investor confidence and support the sustainable growth of Abuja’s property market. Rising costs should not become a blanket justification for excessive charges.

A change-of-ownership fee should cover reasonable administrative processing, not function as a fresh-sale commission payable to the developer.