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 are a foreigner looking to buy property in Nigeria, you probably want to know what you can actually get at different budget levels.
In this article, we break down current housing prices in Nigeria in 2026, from entry-level options at $100k all the way up to luxury territory.
We keep this blog post constantly updated so you always have the freshest data available.
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.
What can I realistically buy with $100k in Nigeria right now?
Are there any decent properties for $100k in Nigeria, or is it all scams?
For about $100,000 (which equals roughly 142 million naira at the official NFEM rate of about 1,420 naira per dollar in early 2026), you can realistically purchase a basic 1 to 2 bedroom flat in value-oriented areas of Lagos or Abuja, though your scam filter needs to be especially strong at this price point because this is where too-good-to-be-true listings tend to cluster.
The neighborhoods that give you the best value and most legitimate options for $100k in Nigeria include Ajah, Sangotedo, Abijo GRA, and Lakowe in Lagos, as well as Lugbe, Lokogoma, Karsana, and outer Gwarinpa in Abuja, where you can find real, livable apartments without the premium you would pay closer to the city centers.
If you are hoping to buy in truly popular or upscale areas of Nigeria like Ikoyi, Victoria Island, or Lekki Phase 1 for $100k, the honest answer is no, because even the smallest units in these prime locations start well above this budget, with Ikoyi flats typically ranging into much higher territory according to current listings on Nigeria Property Centre.
What property types can I afford for $100k in Nigeria (studio, land, old house)?
At the $100k level (about 142 million naira) in Nigeria, your most realistic options are apartments or flats, typically older 1 to 2 bedroom units in value corridors, and while land is technically possible at this price point, title risk increases significantly in fast-developing Lagos corridors, making apartments a safer choice for foreign buyers.
For properties at this budget in Nigeria, you should expect to set aside an additional 5 to 35 million naira for renovation, with most $100k purchases requiring at least light to medium work like fresh paint, plumbing updates, or kitchen and bathroom refreshes to bring them up to a comfortable standard.
The property type that tends to offer the best long-term value at the $100k level in Nigeria is a 2-bedroom flat in a high-demand corridor like Ajah or Sangotedo, because these units have the broadest resale buyer pool and strong rental demand, which protects your investment better than land or distressed houses that come with higher complexity.
What's a realistic budget to get a comfortable property in Nigeria as of 2026?
As of early 2026, the realistic minimum budget to get a comfortable property in Nigeria is around $150,000 to $180,000 (about 210 to 255 million naira, or roughly 140,000 to 170,000 euros), which is what it takes to access a decent 2-bedroom flat with reliable power backup and good finishes in broadly desirable areas of Lagos or Abuja.
Most buyers in Nigeria need a budget range of $150,000 to $250,000 (210 to 355 million naira, or 140,000 to 235,000 euros) to reach what locals would consider a comfortable standard, with Lagos generally requiring the higher end of this range and cities outside the two major metros offering more value for money.
In Nigeria, "comfortable" typically means a property with reliable water supply (often a borehole), working power backup like an inverter or generator, decent finishing on floors and walls, a secure compound with gated access, and reasonable access roads that do not flood during the rainy season.
How much you need can vary quite a bit depending on the neighborhood in Nigeria, since a comfortable 2-bedroom in Ajah might cost $150,000 while a similar level of comfort in Lekki Phase 1 could require $250,000 or more, and in Abuja, districts like Jabi and Wuye tend to fall somewhere in between.
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What can I get with a $200k budget in Nigeria as of 2026?
What "normal" homes become available at $200k in Nigeria as of 2026?
As of early 2026, a $200,000 budget (about 284 million naira) unlocks what Nigerians would consider a "normal" quality home, typically a good 2-bedroom apartment in stronger corridors of Lagos or a modern 2 to 3 bedroom unit in solid middle-class districts of Abuja, with decent finishes and better building infrastructure than what you would find at the $100k level.
For $200k in Nigeria, you can expect typical sizes of about 85 to 140 square meters (roughly 900 to 1,500 square feet) for a 2-bedroom apartment, with older stock tending to be larger and newer "luxury-style" buildings sometimes offering smaller but better-finished units in the same price range.
By the way, we have much more granular data about housing prices in our property pack about Nigeria.
What places are the smartest $200k buys in Nigeria as of 2026?
As of early 2026, the smartest places to buy at the $200k budget in Nigeria include Ajah and Sangotedo (for higher-quality units), Ikate, Ilasan, and the Chevron axis in Lekki for Lagos buyers, while in Abuja the smart money is looking at Wuye, Jabi, Utako, and prime pockets of Gwarinpa where you get strong rental demand and reasonable liquidity.
What makes these areas smarter $200k buys in Nigeria compared to other options is their combination of active transaction volume (meaning you can resell if needed), strong rental demand from professionals and expatriates, and better infrastructure like paved roads and reliable estate management.
The main growth factor driving value in these smart-buy areas of Nigeria is infrastructure development, particularly the Lagos-Calabar Coastal Highway and the Fourth Mainland Bridge project, which are transforming areas like Ajah and Sangotedo from suburban outposts into well-connected residential hubs with serious appreciation potential.
We have made this infographic to give you a quick and clear snapshot of the property market in Nigeria. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
What can I buy with $300k in Nigeria in 2026?
What quality upgrade do I get at $300k in Nigeria in 2026?
As of early 2026, moving from $200k to $300k (from about 284 million to 426 million naira) in Nigeria gets you a meaningful quality upgrade, including newer buildings with better construction standards, more reliable power backup systems with inverters and generators, improved water treatment, and access to professionally managed estates with amenities like gyms or pools.
Yes, $300k can absolutely buy a property in a newer building in Nigeria right now, especially in areas like Ikate, Ilasan, the Chevron axis of Lekki, Oniru edges, and some newer mainland developments in Lagos, as well as Wuye, Jabi, and Katampe extensions in Abuja where developers have delivered modern stock in recent years.
At the $300k budget in Nigeria, specific features that typically become available include elevator access in mid-rise buildings, central air conditioning, fitted kitchens with modern appliances, ensuite bathrooms, secure parking, and 24-hour security with CCTV, which represent a real step up from what you would find at lower price points.
Can $300k buy a 2-bedroom in Nigeria in 2026 in good areas?
As of early 2026, the likelihood of finding a 2-bedroom property for $300k in good areas of Nigeria is very high, as this budget roughly matches the average 2-bedroom price in sought-after locations like Lekki Phase 1, where Nigeria Property Centre data shows 2-bedroom flats averaging around 260 million naira with a wide range depending on building quality and exact location.
Specific good areas in Nigeria where you can find 2-bedroom options at the $300k budget include Lekki Phase 1, Ikate, Oniru, parts of Victoria Island (older stock), and stronger pockets of the Lekki corridor in Lagos, while in Abuja you can access Jabi, Wuye, and better parts of Gwarinpa with this budget.
A $300k 2-bedroom in Nigeria typically offers about 90 to 150 square meters (roughly 970 to 1,600 square feet) of living space, with newer buildings sometimes slightly smaller but featuring better finishes, and older converted units sometimes offering more raw space that may need updating.
Which places become "accessible" at $300k in Nigeria as of 2026?
At the $300k price point in Nigeria, neighborhoods that become newly accessible include stronger parts of Lekki Phase 1, Ikate, Oniru fringe, some older Victoria Island units, and higher-quality developments along the Lekki corridor in Lagos, while in Abuja you can now realistically access Jabi, Wuye, better pockets of Gwarinpa, and some Katampe inventory.
What makes these newly accessible areas desirable compared to lower-budget options in Nigeria is their proximity to commercial hubs and employment centers, better road infrastructure, more stable power supply, established estate management, and a stronger expatriate and professional tenant pool if you want rental income.
For $300k in these newly accessible areas of Nigeria, buyers can typically expect a well-finished 2-bedroom apartment in a managed estate or a smaller 3-bedroom in slightly less central locations, with modern amenities like fitted kitchens, good security, and functional backup power systems.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Nigeria.
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What does a $500k budget unlock in Nigeria in 2026?
What's the typical size and location for $500k in Nigeria in 2026?
As of early 2026, a $500,000 budget (about 710 million naira) in Nigeria typically gets you a high-grade 3-bedroom apartment of around 150 to 200 square meters (roughly 1,600 to 2,150 square feet) in prime Lagos locations like Victoria Island, parts of Ikoyi, or premium Lekki corridor nodes, or a comfortable 4-bedroom terrace or duplex in strong Abuja districts like Maitama edges, Asokoro edges, or Wuse 2.
Yes, $500k can buy a family home with outdoor space in Nigeria, though this is more achievable in Abuja where compound-style living is more common, while in Lagos you would need to look at premium terraces in gated estates or move farther from the tightest prime zones to get meaningful outdoor space at this budget.
At $500k in Nigeria, the typical configuration is 3 to 4 bedrooms with 3 to 4 bathrooms, often including a guest toilet, fitted kitchen, balconies or terraces, and in the case of duplexes, a small boys' quarters or staff room, which reflects the full family home standard that Nigerians associate with this price tier.
Finally, please note that we cover all the housing price data in Nigeria here.
Which "premium" neighborhoods open up at $500k in Nigeria in 2026?
At the $500k price point in Nigeria, premium neighborhoods that open up include Victoria Island, parts of Ikoyi (though not the very top tier), premium Lekki corridor nodes, and Oniru in Lagos, while in Abuja you can access Maitama edges, Asokoro edges, Wuse 2, and prime pockets of Katampe.
What makes these neighborhoods considered premium in Nigeria includes their proximity to Lagos Island commercial centers and embassies, superior road infrastructure, waterfront or lagoon views in some areas, established security protocols, and the presence of international schools, hospitals, and high-end retail that expatriates and wealthy Nigerians expect.
For $500k in these premium neighborhoods of Nigeria, buyers can realistically expect a high-quality 3-bedroom apartment in a well-managed building with amenities like a gym, pool, and concierge service, or a 4-bedroom terrace duplex in a gated estate with 24-hour security and reliable utilities.
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 counts as "luxury" in Nigeria in 2026?
At what amount does "luxury" start in Nigeria right now?
In Nigeria, properties start being considered luxury at around $350,000 to $600,000 (about 500 million to 850 million naira, or roughly 330,000 to 560,000 euros), which is the threshold where you enter USD-linked prime district pricing with premium building specifications and professional facilities management.
The specific features that define the entry point to luxury real estate in Nigeria include waterfront or lagoon views, international-standard finishes with imported materials, smart home technology, dedicated concierge services, resort-style amenities like infinity pools and fitness centers, and location in gated communities with round-the-clock security and controlled access.
Compared to other similar markets, Nigeria's luxury threshold is lower than Dubai or Singapore but higher than many other African markets, positioning Lagos luxury real estate as relatively accessible for wealthy diaspora investors while still representing a serious commitment that filters out casual buyers.
The typical price range for mid-tier luxury in Nigeria is $600,000 to $1.5 million (850 million to 2.1 billion naira, or 560,000 to 1.4 million euros), while top-tier luxury in locations like Banana Island, prime Ikoyi, and Eko Atlantic can easily exceed $2 million and reach well beyond $5 million for the most exclusive properties.
Which areas are truly high-end in Nigeria right now?
The truly high-end neighborhoods in Nigeria right now are Ikoyi (especially Banana Island), Victoria Island, and Eko Atlantic City in Lagos, along with Maitama, Asokoro, and Wuse 2 in Abuja, which consistently rank as the most expensive localities on Nigeria Property Centre and attract the highest concentration of wealth.
What makes these areas considered truly high-end in Nigeria includes their proximity to power centers (financial districts, embassies, and government), waterfront locations along the Lagos Lagoon, superior infrastructure with more stable power and better roads, exclusive gated communities with private security, and the prestige factor that comes with addresses recognized across West Africa.
The typical buyer profile for high-end areas in Nigeria includes successful business owners in oil and gas, finance, and technology sectors, senior executives of multinational corporations, diaspora investors seeking capital preservation and a connection to home, diplomats and expatriate professionals on international packages, and politicians and government officials, all of whom prioritize security, prestige, and strong rental yields.
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How much does it really cost to buy, beyond the price, in Nigeria in 2026?
What are the total closing costs in Nigeria in 2026 as a percentage?
As of early 2026, total closing costs in Nigeria typically range from about 7% to 12% of the purchase price for a foreign individual buyer, depending on which state you are buying in and the complexity of the title perfection process.
The realistic low-to-high percentage range covering most standard transactions in Nigeria is 8% to 12% in Abuja (FCT) and 10% to 15% in Lagos, with Lagos generally being more expensive due to additional state-level fees and the Governor's Consent perfection requirements.
The specific fee categories that most commonly make up that total percentage in Nigeria include legal fees (typically 1% to 2.5%), stamp duties (which vary by instrument and value), registration and perfection fees tied to Governor's Consent, and in some cases agency fees if you used a real estate agent to find the property.
To avoid hidden costs and bad surprises, you can check our our pack covering the property buying process in Nigeria.
How much are notary, registration, and legal fees in Nigeria in 2026?
As of early 2026, the combined cost for legal, registration, and perfection fees in Nigeria typically runs between 3% and 7% of the property price (for a 300 million naira property, that would be about 9 to 21 million naira, or roughly $6,300 to $14,800, or 5,900 to 13,800 euros), though this varies significantly by state and title complexity.
These fees in Nigeria typically represent about 3% to 7% of the property price, with legal fees alone usually running 1% to 2.5%, registration and perfection fees varying by state, and stamp duties calculated on an ad valorem basis depending on the instrument type.
In Nigeria, the most expensive component is usually the Governor's Consent and perfection process, which in Lagos can add several percentage points to your total costs and involves navigating state land registry requirements that can be time-consuming and require professional legal guidance to complete properly.
What annual property taxes should I expect in Nigeria in 2026?
As of early 2026, annual property taxes in Nigeria for a typical mid-market property (around 200 to 300 million naira) can range from about 200,000 to 1.5 million naira per year (roughly $140 to $1,050, or 130 to 980 euros), depending on the state, property type, and assessment value.
Annual property taxes in Nigeria typically represent about 0.1% to 0.5% of property value in most normal cases, though the bigger recurring cost for apartment owners is often the service charge levied by estate management, which can run 1 to 4 million naira annually in managed buildings.
Property taxes in Nigeria vary based on location, with Lagos levying the Land Use Charge (an assessment-based annual charge that varies by property and area) and Abuja (FCT) collecting annual ground rents that are actively enforced and can create title issues if arrears accumulate.
Exemptions or reductions are limited in Nigeria, though some states offer relief for owner-occupied residential properties or first-time homeowners, and the new Nigeria Tax Act 2025 introduced some rent deduction provisions for businesses, but for most foreign buyers the standard rates apply without significant relief available.
You can find the list of all property taxes, costs and fees when buying in Nigeria here.
Is mortgage a viable option for foreigners in Nigeria right now?
Getting a mortgage as a foreigner in Nigeria is technically possible but practically challenging, as Nigerian banks and licensed mortgage institutions do lend to foreigners but with stricter requirements, less favorable terms, and higher down payment expectations than what local borrowers receive.
Foreign buyers in Nigeria typically see loan-to-value ratios between 50% and 70%, meaning you should expect to put down 30% to 50% of the purchase price as equity, and interest rates currently run very high at around 18% to 25% annually, which makes cash purchases far more common and often more practical.
To qualify for a mortgage as a foreigner in Nigeria, you typically need proof of stable verifiable income through bank statements and employment contracts, a valid passport and proof of residency status, the property title documents for collateral purposes, and often a relationship with a Nigerian bank, though diaspora-specific products from the Federal Mortgage Bank of Nigeria may offer slightly better terms for eligible Nigerians abroad.
You can also read our complete guide on how to buy and rent out in Nigeria.
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 should I predict for resale and growth in Nigeria in 2026?
What property types resell fastest in Nigeria in 2026?
As of early 2026, the property types that resell fastest in Nigeria are 2-bedroom apartments in high-demand corridors like Lekki (Ikate, Ilasan, Chevron axis), Ajah, Sangotedo, and in Abuja areas like Jabi, Wuye, and Gwarinpa, because these units have the broadest buyer pool including young professionals, small families, and rental investors.
The typical time on market to sell a correctly priced "normal" apartment in liquid neighborhoods of Nigeria is about 3 to 9 months, while prime and luxury properties with higher price tags and thinner buyer pools can take 9 to 18 months or longer due to the more selective purchaser base.
What makes certain property types sell faster in Nigeria is their alignment with the dominant buyer profile, meaning units in managed estates with clean title histories, working power backup, and easy access roads attract both end-users and investors who can quickly verify value and complete transactions.
The property types that tend to be slowest to resell in Nigeria are large standalone houses requiring significant maintenance, properties with complicated or unperfected titles, units in estates with poor management or high service charge arrears, and luxury properties above the 1 billion naira mark where the buyer pool shrinks dramatically.
If you're interested, we cover all the best exit strategies in our real estate pack about Nigeria.
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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 official source for USD/NGN exchange rates. | We converted all USD budgets into naira using the NFEM official rate. This keeps all price examples consistent throughout the article. |
| Nigeria Property Centre | One of the largest Nigerian property listing databases with transparent methodology. | We used their median prices and locality ranges as the backbone for "what you can buy" at each budget. We also used their Lekki, Ajah, and Ikoyi data for neighborhood comparisons. |
| Nigeria Housing Market | Provides regularly updated price guides with clear market segmentation. | We referenced their 2026 Lagos and Abuja price breakdowns to validate ranges. We also used their infrastructure impact analysis for growth corridor identification. |
| DLA Piper REALWORLD | International law firm's jurisdiction guide, practical and regularly updated. | We used it to explain Governor's Consent and perfection in plain language. We also referenced it for typical transaction workflow and closing cost structures. |
| PwC Nigeria | Major professional services firm summarizing Nigerian tax law. | We used their stamp duty guide to explain what stamp duties are and how they factor into closing costs. We cross-checked ad valorem rates against current practice. |
| Lagos State Land Use Charge Portal | Official Lagos State channel for property tax information. | We used it to ground annual property tax expectations in the real system used in Lagos. We referenced it for explaining assessment-based billing. |
| FCTA Abuja Ground Rent Notice | Federal Capital Territory Administration's official notice to property owners. | We used it to show that Abuja has ongoing annual ground rent obligations. We referenced it to warn buyers about checking for arrears before closing. |
| The Guardian Nigeria | Major Nigerian newsroom with dedicated property market coverage. | We used their luxury market reporting to define where premium and luxury pricing begins. We also referenced their buyer profile analysis for high-end segments. |
| Federal Mortgage Bank of Nigeria | Nigeria's government-backed mortgage institution. | We referenced their diaspora mortgage programs to explain financing options for foreign buyers. We used their rate structures to set realistic mortgage expectations. |
| TheCable | Major Nigerian newsroom covering government land administration initiatives. | We used their reporting on Lagos e-GIS and digital title verification to highlight anti-scam tools available to buyers. We referenced it for practical due diligence steps. |
| BusinessDay Nigeria | Leading Nigerian business publication covering policy and market developments. | We used their analysis of the Nigeria Tax Act 2025 and housing policy changes to explain the current regulatory environment. We referenced their mortgage market statistics. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Nigeria. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.