Property Prices in Lagos, Nigeria

Index Info
Price to Income Ratio: 22.68
Mortgage as Percentage of Income: 435.76%
Loan Affordability Index: 0.23
Price to Rent Ratio - City Centre: 5.84
Price to Rent Ratio - Outside of Centre: 2.85
Gross Rental Yield (City Centre): 17.13%
Gross Rental Yield (Outside of Centre): 35.06%
Rent Per Month
Edit Range
Apartment (1 bedroom) in City Centre 597,500.00 ₦ 125,000.00-1,200,000.00
Apartment (1 bedroom) Outside of Centre 338,809.52 ₦ 100,000.00-700,000.00
Apartment (3 bedrooms) in City Centre 1,489,351.09 ₦ 300,000.00-3,500,000.00
Apartment (3 bedrooms) Outside of Centre 861,946.75 ₦ 120,000.00-1,500,000.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 82,938.93 ₦ 18,580.45-174,494.98
Price per Square Feet to Buy Apartment Outside of Centre 23,231.35 ₦ 4,645.11-72,706.24
Salaries And Financing
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Average Monthly Net Salary (After Tax) 125,983.45 ₦
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 18.75 9.00-22.00

These data are based on 178 entries in the past 18 months from 35 different contributors.
Last update: March 2024

Sources and References
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1 Comments so far
Mario Leone on Jul 16, 2020:
Property Prices differ from Location to Location and depends on choice after all, to get a comprehensive information about properties in Nigeria or Lagos state, I will suggest reading this article from Propertify Nigeria, https://www.propertify.org/top-10-real-estate-listing-nigeria/

From there you can get as much information as possible.