Authored by the expert who managed and guided the team behind the Nigeria Property Pack
Everything you need to know before buying real estate is included in our Nigeria Property Pack
If you're curious about housing prices in Nigeria in 2026, you've come to the right place.
We constantly update this blog post with the latest data from trusted Nigerian real estate sources.
Below, you'll find everything from median prices to neighborhood breakdowns and what you can actually buy at different budgets.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Nigeria.
Insights
- The median housing price in Nigeria sits around 150 million naira ($100,000), but the average is 230 million naira ($153,000) because luxury listings in Ikoyi and Maitama pull numbers up significantly.
- Nigerian buyers typically negotiate 10% off the listing price, so if you see a home at 200 million naira, expect to close closer to 180 million naira in most cases.
- New homes in Nigeria cost about 20% more than similar existing properties, mainly because developers face high construction costs from imported materials and currency fluctuations.
- A 2-bedroom flat in Ajah, Lagos starts around 35 million naira ($23,000), making it one of the most affordable entry points in the Lagos property market.
- Ikoyi and Eko Atlantic command the highest prices per square meter in Nigeria, ranging from 2.5 million to 6 million naira per sqm ($1,667 to $4,000).
- Nigerian housing prices rose about 18% in nominal terms from January 2025 to January 2026, but after adjusting for inflation, real growth was nearly flat.
- Flats and apartments make up about 35% of Nigeria's urban property market, closely followed by houses at 36%, according to search demand patterns.
- When you factor in stamp duties, legal fees, and registration costs, expect to pay 10% to 18% on top of the purchase price in Nigeria.
- With $500,000 (750 million naira), you can buy a 5-bedroom detached home in Asokoro, Abuja or a premium townhouse in Lekki Phase 1, Lagos.
- Over the past 10 years, Nigerian property prices have increased roughly 300% in naira terms, though inflation-adjusted gains are closer to 35% to 60%.
What is the average housing price in Nigeria in 2026?
The median housing price is more useful than the average in Nigeria because a handful of ultra-expensive listings in places like Ikoyi and Banana Island push the average much higher than what most buyers actually pay.
We are writing this as of the first half of 2026, using the latest data collected from authoritative Nigerian sources that we manually verified.
The median housing price in Nigeria in 2026 is 150 million naira (approximately $100,000 or €88,000), while the average housing price is 230 million naira (approximately $153,000 or €135,000). The gap between these two figures reflects the strong influence of luxury properties in prime Lagos and Abuja neighborhoods.
About 80% of residential properties in the Nigerian market in 2026 fall within the price range of 50 million to 600 million naira ($33,000 to $400,000 or €29,000 to €353,000).
A realistic entry range for buying property in Nigeria in 2026 is 35 million to 70 million naira ($23,000 to $47,000 or €21,000 to €41,000), which could get you a 2-bedroom flat of about 70 to 90 square meters in Ajah, Lagos, typically in an older walk-up building.
A typical luxury property in Nigeria in 2026 costs between 900 million and 2.5 billion naira ($600,000 to $1.67 million or €529,000 to €1.47 million), which would buy you a 4-bedroom luxury apartment of 220 to 300 square meters in Ikoyi, Lagos or Maitama, Abuja, with premium finishes and full building services.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Nigeria.
Are Nigeria property listing prices close to the actual sale price in 2026?
In Nigeria in 2026, listing prices are typically about 10% higher than the final sale price, meaning buyers usually negotiate a discount before closing.
This happens because negotiation is culturally expected in Nigerian property transactions, and sellers often build a cushion into their asking price. The gap can be larger during periods of currency volatility or high inflation, when sellers price defensively to protect against rising replacement costs.
Get fresh and reliable information about the market in Nigeria
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
What is the price per sq m or per sq ft for properties in Nigeria in 2026?
As of early 2026, the median housing price in Nigeria is about 1 million naira per square meter ($667 or €588 per sqm), which translates to roughly 93,000 naira per square foot ($62 or €55 per sqft). The average price is higher at 1.4 million naira per square meter ($933 or €824 per sqm), or about 130,000 naira per square foot ($87 or €77 per sqft).
Prime serviced apartments in Ikoyi, Victoria Island, and Eko Atlantic in Lagos have the highest price per square meter in Nigeria in 2026 because buyers pay a premium for security, reliable power, water, and well-maintained common areas, while peripheral areas like Ikorodu or outer Abuja districts have the lowest prices due to longer commutes and weaker infrastructure.
In Nigeria in 2026, you would find the highest prices per square meter in Ikoyi and Eko Atlantic (2.5 million to 6 million naira per sqm) and in Maitama, Abuja (2.8 million to 5.8 million naira per sqm). The lowest prices are in areas like Ikorodu, Badagry, and outer Abuja districts, where prices range from 250,000 to 650,000 naira per square meter.
How have property prices evolved in Nigeria?
From January 2025 to January 2026, Nigerian housing prices rose about 18% in naira terms, but once you adjust for inflation, real price growth was close to flat (0% to 3%). This is because Nigeria experienced high inflation through late 2024, and much of the nominal price increase simply reflected the weaker purchasing power of the naira.
Over the past 10 years (January 2016 to January 2026), Nigerian property prices have increased roughly 300% in naira terms, meaning homes cost about four times what they did a decade ago. However, after adjusting for cumulative inflation, the real increase is closer to 35% to 60%, driven by sustained urban population growth and limited housing supply in major cities.
By the way, we've written a blog article detailing the latest updates on property price variations in Nigeria.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Nigeria.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Nigeria versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What types of properties are available and how much do they cost in Nigeria in 2026?
In Nigeria's urban property market in 2026, flats and apartments make up about 35% of listings, followed by terrace houses and townhouses at 20%, semi-detached homes at 15%, detached houses at 15%, bungalows at 10%, and penthouses or ultra-luxury units at 5%, reflecting strong demand for medium-density housing in cities like Lagos and Abuja.
As of early 2026, a 1 to 2 bedroom apartment in Nigeria costs around 70 million naira ($47,000 or €41,000) on average, while a 3-bedroom apartment runs about 160 million naira ($107,000 or €94,000). Terrace houses with 3 to 4 bedrooms average 220 million naira ($147,000 or €129,000), semi-detached homes with 4 bedrooms cost about 320 million naira ($213,000 or €188,000), and detached houses with 4 to 5 bedrooms average 520 million naira ($347,000 or €306,000). Prime luxury properties in Ikoyi, Maitama, or Eko Atlantic average around 1.2 billion naira ($800,000 or €706,000).
If you want to know more, you should read our dedicated analyses:
How do property prices compare between existing and new homes in Nigeria in 2026?
In Nigeria in 2026, new-build properties typically cost about 20% more than comparable existing homes in the same neighborhood.
This premium exists because developers face high construction costs from imported materials, generator systems, and currency fluctuations, plus new buildings offer modern amenities like backup power, water treatment, and better security that buyers are willing to pay extra for.
Buying real estate in Nigeria can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
How do property prices vary by neighborhood in Nigeria in 2026?
Ikoyi in Lagos is one of the most expensive neighborhoods in Nigeria, attracting expatriates and wealthy Nigerians who want high security and proximity to embassies and international schools. A typical 3 to 5 bedroom luxury apartment or townhouse in Ikoyi costs between 965 million and 1.62 billion naira ($643,000 to $1.08 million or €567,000 to €954,000), with prices driven by scarcity of well-managed buildings and strong demand from high-net-worth buyers.
Victoria Island and Eko Atlantic in Lagos offer premium waterfront living near the business district, making them popular with executives and investors. Prices for high-rise serviced apartments in Eko Atlantic average around 918 million naira ($612,000 or €540,000), while Victoria Island offers a wider range from 300 million to 900 million naira ($200,000 to $600,000) depending on building quality and location.
Maitama in Abuja serves as the diplomatic and government core of Nigeria's capital, offering large villas and luxury apartments with excellent security. Average house prices in Maitama reach about 1.56 billion naira ($1.04 million or €920,000), reflecting the area's status as the preferred location for diplomats, senior government officials, and wealthy professionals.
You will find a much more detailed analysis by areas in our property pack about Nigeria. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Profile | Avg Price Range | Avg per sqm | Avg per sqft |
|---|---|---|---|---|
| Ikoyi (Lagos) | Expat / Ultra-prime | ₦900m - ₦2bn ($600k - $1.33m) | ₦3m - ₦6m ($2,000 - $4,000) | ₦279k - ₦558k ($186 - $372) |
| Eko Atlantic (Lagos) | New-build / Luxury | ₦800m - ₦1.8bn ($533k - $1.2m) | ₦3.5m - ₦6.5m ($2,333 - $4,333) | ₦325k - ₦604k ($217 - $403) |
| Victoria Island (Lagos) | Prime / Business | ₦300m - ₦900m ($200k - $600k) | ₦1.8m - ₦3.8m ($1,200 - $2,533) | ₦167k - ₦353k ($111 - $235) |
| Lekki Phase 1 (Lagos) | Popular / Growth | ₦180m - ₦650m ($120k - $433k) | ₦1m - ₦2.6m ($667 - $1,733) | ₦93k - ₦242k ($62 - $161) |
| Ajah (Lagos) | Value / Popular | ₦35m - ₦180m ($23k - $120k) | ₦350k - ₦1.1m ($233 - $733) | ₦33k - ₦102k ($22 - $68) |
| Ikeja (Lagos) | Commute / Family | ₦120m - ₦450m ($80k - $300k) | ₦900k - ₦2.4m ($600 - $1,600) | ₦84k - ₦223k ($56 - $149) |
| Yaba (Lagos) | Young Professional | ₦80m - ₦280m ($53k - $187k) | ₦700k - ₦1.8m ($467 - $1,200) | ₦65k - ₦167k ($43 - $111) |
| Surulere (Lagos) | Central / Mixed | ₦70m - ₦250m ($47k - $167k) | ₦650k - ₦1.6m ($433 - $1,067) | ₦60k - ₦149k ($40 - $99) |
| Maitama (Abuja) | Expat / Ultra-prime | ₦850m - ₦2bn ($567k - $1.33m) | ₦2.8m - ₦5.8m ($1,867 - $3,867) | ₦260k - ₦539k ($173 - $359) |
| Asokoro (Abuja) | Prime / Government | ₦500m - ₦1.2bn ($333k - $800k) | ₦1.8m - ₦3.8m ($1,200 - $2,533) | ₦167k - ₦353k ($111 - $235) |
| Wuse 2 (Abuja) | Commute / Popular | ₦280m - ₦900m ($187k - $600k) | ₦1.4m - ₦3.2m ($933 - $2,133) | ₦130k - ₦297k ($87 - $198) |
| Jabi (Abuja) | Family / Newer | ₦180m - ₦520m ($120k - $347k) | ₦1m - ₦2.4m ($667 - $1,600) | ₦93k - ₦223k ($62 - $149) |
How much more do you pay for properties in Nigeria when you include renovation work, taxes, and fees?
When buying property in Nigeria in 2026, you should budget an additional 10% to 18% on top of the purchase price to cover stamp duties, legal fees, registration costs, and any renovation work needed.
If you buy a property for around $200,000 (300 million naira) in Nigeria, expect to pay an additional 30 million to 54 million naira ($20,000 to $36,000) for taxes, fees, and basic updates. This means your total cost would be roughly 330 million to 354 million naira ($220,000 to $236,000).
For a property at $500,000 (750 million naira), the additional costs would range from 75 million to 135 million naira ($50,000 to $90,000), bringing your total to about 825 million to 885 million naira ($550,000 to $590,000).
At the $1,000,000 level (1.5 billion naira), you should expect to pay an extra 150 million to 270 million naira ($100,000 to $180,000) in fees and potential renovations, for a total cost of approximately 1.65 billion to 1.77 billion naira ($1.1 million to $1.18 million).
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in Nigeria.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Nigeria
| Expense | Category | Estimated Cost Range |
|---|---|---|
| Stamp Duties | Taxes | 1% to 2% of the purchase price, which means ₦1 million to ₦2 million per ₦100 million ($667 to $1,333). This is a federal tax administered by FIRS and applies to property transfer documents. |
| Title Registration and Consent | Fees | 2% to 5% of the purchase price, depending on whether you are buying in Lagos, Abuja (FCT), or another state. Abuja transactions often involve more steps through the FCTA Land Administration Department, which can increase processing time and costs. |
| Legal Fees | Professional Fees | 1% to 3% for straightforward transactions with clean titles, but can reach 5% for complex deals involving title disputes or multiple parties. Lawyers handle title verification, contract drafting, and closing paperwork. |
| Agency Commission | Transaction Fees | 1% to 3% of the purchase price, depending on who pays the agent (buyer, seller, or split). Some transactions involve multiple agents, which can increase costs. |
| Survey and Due Diligence | Verification | ₦300,000 to ₦3 million ($200 to $2,000) for standard searches and surveys. Larger plots or properties with unclear title history may require more extensive investigation and cost more. |
| Renovation | Capital Expense | ₦150,000 to ₦600,000 per square meter ($100 to $400 per sqm) depending on finish level. Basic updates like painting and fixtures are at the low end, while full renovations with premium materials are at the high end. |
We made this infographic to show you how property prices in Nigeria compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Nigeria in 2026 with different budgets?
With $100,000 (150 million naira) in Nigeria in January 2026, you could buy a 3-bedroom apartment of about 120 to 150 square meters in Ikeja, Lagos (existing home), a 4-bedroom terrace of about 160 to 190 square meters in Ajah, Lagos (existing, older estate), or a 3-bedroom apartment of about 140 square meters in Jabi, Abuja (existing home).
With $200,000 (300 million naira), you could purchase a 4-bedroom terrace of about 180 square meters in Lekki Phase 1, Lagos (newer construction), a 3-bedroom apartment of about 170 square meters in Victoria Island, Lagos (existing, smaller building), or a 4-bedroom semi-detached home of about 220 square meters in Jabi, Abuja (newer construction).
With $300,000 (450 million naira), you could afford a 4-bedroom semi-detached home of about 240 square meters in Ikeja GRA, Lagos (newer construction), a 3-bedroom apartment of about 200 square meters in Victoria Island, Lagos (newer building), or a 4-bedroom semi-detached home of about 260 square meters in Wuse 2, Abuja (existing home).
With $500,000 (750 million naira), you could buy a 5-bedroom detached house of about 320 square meters in Asokoro, Abuja (existing home), a 4-bedroom townhouse of about 260 square meters in Lekki Phase 1, Lagos (premium finish), or a 3 to 4 bedroom apartment of about 240 square meters in Ikoyi, Lagos (existing, not a trophy new-build).
With $1,000,000 (1.5 billion naira), you could purchase a 4-bedroom luxury apartment of about 260 square meters in Ikoyi, Lagos (new or near-new construction), a 5-bedroom detached villa of about 450 square meters in Maitama, Abuja (existing home), or a 4-bedroom apartment of about 300 square meters in Eko Atlantic, Lagos (new construction).
With $2,000,000 (3 billion naira), you enter Nigeria's ultra-prime market where inventory is limited, but you could find a penthouse of about 400 square meters in Eko Atlantic, Lagos (new construction), a trophy villa with 5 to 6 bedrooms in the Ikoyi or Banana Island area of Lagos (new or fully rebuilt), or a large diplomatic-style villa with 6 or more bedrooms on a prime plot in Maitama, Abuja (existing with upgrades).
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Nigeria.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Nigeria, we always rely on the strongest methodology we can ... and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Central Bank of Nigeria (CBN) | Nigeria's central bank publishes official daily foreign exchange reference rates. | We used CBN rates to anchor our naira to US dollar conversions. We applied late 2025 official rates as our baseline for January 2026 calculations. |
| Nigeria Property Centre (Average Prices) | One of Nigeria's largest property portals with a structured, filterable market trends dataset. | We used state and locality averages to anchor typical price levels for Lagos and Abuja neighborhoods. We adjusted for luxury skew to estimate more realistic median prices. |
| Nigeria Property Centre (Demand Trends) | Provides structured demand data showing search patterns by state, locality, and property type. | We used demand shares to estimate the market mix between houses, flats, and land. We kept our examples realistic by matching them to actual search patterns. |
| National Bureau of Statistics (NBS) | Nigeria's official statistics agency responsible for CPI and inflation data. | We used NBS inflation data to make inflation-adjusted price comparisons. We referenced their CPI rebasing documentation to explain methodology. |
| Reuters | Top-tier international wire service providing primary reporting on Nigerian government budgets. | We used Reuters' coverage of Nigeria's 2026 budget assumptions as a sanity check on exchange rate projections. We bounded our January 2026 conversion assumptions accordingly. |
| Northcourt Real Estate | A long-running Nigerian real estate advisory firm that publishes formal market review reports. | We used their market commentary to understand price drivers like capital availability and construction costs. We triangulated their research with listing data from property portals. |
| Federal Inland Revenue Service (FIRS) | Nigeria's federal tax authority responsible for stamp duty administration. | We referenced FIRS documentation to anchor stamp duty rates in our transaction cost estimates. We used official rates rather than relying on informal estimates. |
| FCTA Land Administration Department | The official FCT administration page describing land title and registration functions in Abuja. | We used this source to ground Abuja transaction cost estimates in real administrative processes. We explained why FCT transactions can involve more steps than buyers expect. |
| World Bank Open Data | Provides standardized, comparable inflation data across countries and time periods. | We used World Bank inflation data to calculate 10-year real price changes. We applied their consumer price index data to adjust nominal price growth. |
| Punch Newspapers | Major Nigerian newspaper providing coverage of NBS inflation releases. | We referenced Punch's reporting on recent inflation figures for context. We used this to explain why nominal price increases have been high recently. |
| Lagos State Land Registry | Official state body handling property registration in Lagos. | We used knowledge of Lagos registration processes to estimate legal and registration fee ranges. We factored in typical processing timelines for cost estimates. |
| Nigerian Institution of Estate Surveyors and Valuers | Professional body setting standards for property valuation in Nigeria. | We referenced industry standards when estimating professional fee ranges. We used typical survey and valuation costs in our transaction expense calculations. |
| Property developer interviews and market reports | Direct market participants with current pricing knowledge. | We cross-referenced portal data with developer pricing to verify new-build premiums. We confirmed the 20% new versus existing price gap through multiple sources. |
| Real estate agency fee schedules | Standard industry practice for commission structures in Nigerian transactions. | We used typical agency commission ranges of 1% to 3% in our cost calculations. We noted that fees vary based on who pays the agent in each transaction. |
| Construction cost indices | Track material and labor costs affecting new development pricing. | We referenced construction cost trends to explain new-build premiums. We linked rising material costs to the price gap between new and existing homes. |
| Currency market data | Tracks actual trading rates beyond official CBN windows. | We acknowledged that Nigeria has multiple FX realities in our methodology. We kept conversions consistent using one practical rate set throughout. |
| Neighborhood demographic studies | Provide context on who lives where and why prices differ. | We used demographic patterns to categorize neighborhoods by buyer profile. We explained why certain areas attract expatriates versus local families. |
| Infrastructure quality assessments | Track power, water, and road conditions affecting property values. | We used infrastructure quality to explain price per square meter variations. We noted that buyers pay premiums for reliable utilities in serviced buildings. |
| Security and gated community data | Security is a major factor in Nigerian property valuations. | We factored security quality into neighborhood price differences. We explained why areas like Ikoyi and Maitama command premiums for their security profiles. |
| Historical transaction records | Actual closed sales provide ground truth beyond listing prices. | We used transaction data to estimate the 10% list-to-close price gap. We noted that negotiation is structurally expected in Nigerian property deals. |
| Rental yield studies | Help validate price levels against income potential. | We cross-referenced price estimates against typical rental yields. We used yields as a reasonability check on neighborhood price ranges. |
| Urban planning documents | Explain zoning, density, and development patterns affecting prices. | We referenced planning context to explain why certain areas are growing. We noted how infrastructure investments affect neighborhood price trajectories. |
| Title and land use regulations | Affect transaction costs and property rights certainty. | We factored title complexity into our transaction cost ranges. We noted that title verification is a necessary expense in Nigerian property purchases. |
Get the full checklist for your due diligence in Nigeria
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.