Property Prices in Nigeria

Index Info
Price to Income Ratio: 17.13
Mortgage as Percentage of Income: 318.12%
Loan Affordability Index: 0.31
Price to Rent Ratio - City Centre: 4.36
Price to Rent Ratio - Outside of Centre: 2.59
Gross Rental Yield (City Centre): 22.94%
Gross Rental Yield (Outside of Centre): 38.61%
Rent Per Month
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Apartment (1 bedroom) in City Centre 457,400.90 ₦ 150,000.00-900,000.00
Apartment (1 bedroom) Outside of Centre 298,467.50 ₦ 80,000.00-700,000.00
Apartment (3 bedrooms) in City Centre 1,010,881.05 ₦ 300,000.00-3,000,000.00
Apartment (3 bedrooms) Outside of Centre 655,833.33 ₦ 150,000.00-1,500,000.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 44,551.30 ₦ 18,580.45-85,302.95
Price per Square Feet to Buy Apartment Outside of Centre 17,226.92 ₦ 4,645.11-41,806.02
Salaries And Financing
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Average Monthly Net Salary (After Tax) 97,072.09 ₦
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 18.06 10.00-22.00

These data are based on 335 entries in the past 18 months from 68 different contributors.
Last update: September 2023
Our data for each country are based on all entries from all cities in that country.

Sources and References
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