Property Prices in Lagos, Nigeria

Index Info
Price to Income Ratio: 22.05
Mortgage as Percentage of Income: 374.78%
Loan Affordability Index: 0.27
Price to Rent Ratio - City Centre: 5.45
Price to Rent Ratio - Outside of Centre: 1.85
Gross Rental Yield (City Centre): 18.35%
Gross Rental Yield (Outside of Centre): 54.09%
Rent Per Month
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Apartment (1 bedroom) in City Centre 987.90 $ 259.58-1,956.17
Apartment (1 bedroom) Outside of Centre 526.87 $ 151.42-1,085.19
Apartment (3 bedrooms) in City Centre 2,274.97 $ 645.16-4,557.47
Apartment (3 bedrooms) Outside of Centre 1,342.83 $ 341.31-3,253.91
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 122.85 $ 111.48-134.21
Price per Square Feet to Buy Apartment Outside of Centre 23.44 $ 11.09-46.45
Salaries And Financing
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Average Monthly Net Salary (After Tax) 178.52 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 16.33 9.00-22.00

These data are based on 121 entries in the past 18 months from 26 different contributors.
Last update: November 2024

Sources and References
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