LAGOS PROPERTY PRICES
Lagos Property Prices December 2025
Lagos remains Nigeria’s most active and most expensive residential property market. Price levels continue to reflect a mix of population pressure, limited formal housing supply, rising construction costs, and sustained demand from investors and the diaspora.
This page provides an overview of current residential property prices in Lagos, covering houses, apartments, and land across major neighborhoods.
House Prices in Lagos
Detached and semi-detached houses command premium pricing, particularly in established and gated neighbourhoods.
Indicative price ranges:
| Area | Property Type | Unit | Avg Price | Min | Max | ₦ / sqm | Demand | Trend | Notes | Updated |
|---|---|---|---|---|---|---|---|---|---|---|
| Ikeja | Detached Duplex | 5-bed | ₦500m | ₦30m | ₦1.9bn | ~₦350k | High | Increasing | Includes Ikeja GRA. Central location near the airport drives strong demand. | Dec 2025 |
| Ikoyi | Luxury Apartment | 3-bed | ₦850m | ₦16.5m | ₦4bn | ~₦1.5m | Low | Increasing | Ultra-prime enclave including Banana Island. Small but wealthy buyer pool. | Dec 2025 |
| Lekki | Terraced Duplex | 4-bed | ₦350m | ₦55m | ₦1.8bn | ~₦900k | High | Increasing | High search demand. Gated estates popular with young families. | Dec 2025 |
| Victoria Island | Detached House | 4-bed | ₦600m | ₦5m | ₦5.5bn | ~₦1.2m | Medium | Stable | Mature mixed-use district with steady demand and high-end pricing. | Dec 2025 |
| Ajah | Terraced Duplex | 4-bed | ₦160m | ₦38m | ₦800m | ~₦250k | High | Increasing | Fast-growing corridor with improving infrastructure and strong buyer interest. | Dec 2025 |
| Yaba | Apartment | 2-bed | ₦140m | ₦2m | ₦260m | ~₦300k | Medium | Increasing | Mainland tech and education hub with rising appeal. | Dec 2025 |
| Surulere | Semi-Detached | 4-bed | ₦240m | ₦50m | ₦2.5bn | ~₦250k | Medium | Stable | Established residential area with consistent but slower growth. | Dec 2025 |
| Gbagada | Semi-Detached Duplex | 4-bed | ₦250m | ₦10m | ₦580m | ~₦300k | Medium | Stable | Family-oriented enclave with steady demand and limited volatility. | Dec 2025 |
Prices reflect market averages and are updated periodically by Nigeria Housing Market.
Lagos Residential Market Outlook
Despite affordability pressures, Lagos residential prices remain supported by supply shortages, infrastructure-led appreciation corridors, and inflation-driven construction costs. Growth is increasingly location-specific rather than market-wide.
Lagos Property Price FAQs
How much does it cost to buy property in Lagos?
Entry-level residential properties in Lagos typically start from around ₦80m in emerging areas, while prime homes in locations such as Ikoyi and Victoria Island can exceed ₦1bn, depending on size, location, and finishing.
Are Lagos property prices still rising?
Yes. Lagos property prices continue to rise overall, although growth varies by neighbourhood, property type, and infrastructure development. Prime locations and high-demand corridors are experiencing stronger price increases.
What are the most expensive areas to buy property in Lagos?
Ikoyi, Banana Island, Victoria Island, and parts of Lekki Phase 1 are among the most expensive residential areas in Lagos due to limited land supply, strong demand, and premium infrastructure.
What are the cheapest areas to buy property in Lagos?
More affordable property options can be found in emerging suburbs such as Ajah, parts of Epe, Ikorodu, and some mainland districts, where prices are lower but infrastructure development is still ongoing.
Is it cheaper to buy land or a house in Lagos?
Buying land is generally cheaper upfront than buying a completed house, but total development costs can be higher once construction, approvals, and infrastructure expenses are considered.
How much does land cost per square metre in Lagos?
Land prices in Lagos vary widely by location. Prime areas can exceed ₦1m per square metre, while emerging areas may range from ₦50,000 to ₦300,000 per square metre.
Which Lagos neighbourhoods have the highest demand?
High demand is currently concentrated in Ikoyi, Lekki, Victoria Island, Ikeja GRA, Ajah, and Yaba due to employment hubs, transport access, and lifestyle amenities.
Is Lagos property a good investment?
Lagos property remains attractive to long-term investors due to population growth, housing shortages, and strong rental demand, particularly in well-located areas with good infrastructure.
How much rental income can property generate in Lagos?
Rental income varies by location and property type. Prime areas typically offer higher rental yields, especially for apartments and short-let properties, while suburban areas provide steadier but lower returns.
What factors influence property prices in Lagos?
Key factors include location, land title, infrastructure quality, proximity to business districts, security, finishing standards, and overall demand–supply dynamics.
Are property prices higher on Lagos Island or the Mainland?
Prices are generally higher on Lagos Island due to proximity to commercial hubs and premium amenities, although select mainland areas like Ikeja GRA and Yaba have seen strong price growth.
How often do Lagos property prices change?
Property prices in Lagos can change quarterly or annually depending on inflation, construction costs, infrastructure projects, and shifts in demand.
Is now a good time to buy property in Lagos?
Market timing depends on budget and location. Buyers seeking long-term value often benefit from purchasing in developing areas before infrastructure upgrades are completed.