Property Prices in Lagos, Nigeria

Index Info
Price to Income Ratio: 51.70
Mortgage as Percentage of Income: 878.70%
Loan Affordability Index: 0.11
Price to Rent Ratio - City Centre: 6.61
Price to Rent Ratio - Outside of Centre: 8.19
Gross Rental Yield (City Centre): 15.14%
Gross Rental Yield (Outside of Centre): 12.21%
Rent Per Month
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Apartment (1 bedroom) in City Centre 1,075.70 $ 400.00-1,956.17
Apartment (1 bedroom) Outside of Centre 578.53 $ 221.66-911.49
Apartment (3 bedrooms) in City Centre 2,653.98 $ 1,000.00-4,557.47
Apartment (3 bedrooms) Outside of Centre 1,651.04 $ 565.82-3,314.92
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 168.05 $ 134.21-176.51
Price per Square Feet to Buy Apartment Outside of Centre 121.35 $ 12.78-167.22
Salaries And Financing
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Average Monthly Net Salary (After Tax) 150.64 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 16.33 9.00-22.00

These data are based on 113 entries from 22 contributors over the past 18 months.
Last update: March 2025

Sources and References
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