The Mortgage Myth

The myth goes like this: work hard, build a record, get a mortgage, own a home. It sounds orderly and fair. For the vast majority of Nigerians, it simply doesn't happen.

Belief vs reality

• Myth: mortgages are how ordinary people buy homes here.
• Reality: mortgage penetration is under 1% of GDP. The system reaches a tiny slice of the population.

Believing the myth keeps people waiting — saving for a deposit that inflation erodes, chasing eligibility that never quite arrives. The waiting itself has a cost.

What replaces the myth

Not another myth — a regulated alternative. RaffleProp offers a transparent, FCCPC-approved property competition with an entry most people can actually afford, independent valuations, and escrow-protected funds. Less belief, more verifiable structure.

A different way to reach property ownership

RaffleProp runs FCCPC-regulated promotional competitions for real property in Nigeria. Entry starts from ₦2,500, every property is independently valued by an NIESV firm, all funds sit in escrow at a named Nigerian bank, and the winner is selected in a live-streamed, independently witnessed draw.

And your entry value is always protected: if a campaign does not reach its minimum, your full participation value converts to Home Credit you can use on any future campaign. Browse live campaigns, see how it works, or join the waitlist to be first when the next property goes live.

RaffleProp is a promotional competition open to Nigerian residents aged 18 and over. Participation requires passing a skill assessment. Play responsibly.