Property Prices in Nigeria

Index Info
Price to Income Ratio: 30.67
Mortgage as Percentage of Income: 545.64%
Loan Affordability Index: 0.18
Price to Rent Ratio - City Centre: 4.07
Price to Rent Ratio - Outside of Centre: 5.97
Gross Rental Yield (City Centre): 24.58%
Gross Rental Yield (Outside of Centre): 16.76%
Rent Per Month
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Apartment (1 bedroom) in City Centre 444,172.12 ₦ 150,000.00-1,200,000.00
Apartment (1 bedroom) Outside of Centre 255,365.41 ₦ 90,000.00-500,000.00
Apartment (3 bedrooms) in City Centre 1,319,608.69 ₦ 400,000.00-3,000,000.00
Apartment (3 bedrooms) Outside of Centre 659,491.53 ₦ 200,000.00-1,700,000.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 47,351.03 ₦ 11,612.78-464,511.33
Price per Square Feet to Buy Apartment Outside of Centre 36,932.04 ₦ 5,574.14-464,511.33
Salaries And Financing
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Average Monthly Net Salary (After Tax) 73,958.83 ₦
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 17.21 10.00-20.00

These data are based on 474 entries in the past 18 months from 92 different contributors.
Last update: March 2023
Our data for each country are based on all entries from all cities in that country.

Sources and References
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