NIGERIA PROPERTY MARKET TREND

 

Real estate trends vary with location. It covers price trends, industrial, commercial and residential real estates





REAL ESTATE MARKET TRENDS IN NIGERIA

Real estate investment in Nigeria is a dynamic sector with new trends constantly evolving. These trends also vary with location as rent-based real estate being predominant in eastern Nigeria. 

According to Nigeria Property Centre, trends are categorized into property demand and average property prices

Top States

Rank

State

Percentage of Total Searches

1

Lagos

60.8%

2

Abuja

17.6%

3

Rivers

2.0%

4

Oyo

1.9%

5

Ogun

1.7%

Top Localities

Rank

Locality

Percentage of Total Searches

1

Lekki

15.8%

2

Ajah

7.1%

3

Ikeja

4.4%

4

Ikoyi

3.1%

5

Victoria Island (VI)

2.4%

Categories

Rank

Category

Percentage of Total Searches

1

For Rent

57.3%

2

For Sale

31.0%

3

Short Let

2.9%

4

Joint Venture

0.3%

Types

Rank

Type

Percentage of Total Searches

1

Flat / Apartment

37.9%

2

House

21.9%

3

Land

6.4%

4

Commercial Property

4.5%

 

Most Expensive Houses for Sale

Rank

State

Average Price

1

Lagos

₦108,720,000

2

Abuja

₦101,680,000

3

Delta

₦57,400,000

4

Imo

₦55,560,000

5

Rivers

₦53,430,000

6

Enugu

₦47,610,000

7

Kaduna

₦47,090,000

 

Rank

Locality

Average Price

1

Ikoyi

₦429,860,000

2

Maitama District

₦390,390,000

3

Apapa

₦269,420,000

4

Asokoro District

₦262,250,000

5

Wuse 2

₦229,660,000

6

Wuse

₦185,150,000

7

Utako

₦180,360,000

Most Expensive Flats for Sale

Rank

State

Average Price

1

Lagos

₦77,900,000

2

Rivers

₦43,150,000

3

Abuja

₦40,600,000

4

Ogun

₦15,150,000

 

Rank

Locality

Average Price

1

Ikoyi

₦197,210,000

2

Victoria Island (VI)

₦112,890,000

3

Karmo

₦81,640,000

4

Isolo

₦69,500,000

5

Magodo

₦62,090,000

6

Ikeja

₦59,130,000

7

Maryland

₦51,430,000

Most Expensive Houses for Rent

Rank

State

Average Price

1

Lagos

₦5,010,000 per year

2

Abuja

₦4,850,000 per year

3

Rivers

₦3,000,000 per year

4

Delta

₦2,010,000 per year

5

Enugu

₦1,420,000 per year

6

Oyo

₦1,360,000 per year

7

Ogun

₦1,250,000 per year

 

Rank

Locality

Average Price

1

Ikoyi

₦13,160,000 per year

2

Maitama District

₦11,690,000 per year

3

Wuse 2

₦9,540,000 per year

4

Asokoro District

₦7,360,000 per year

5

Victoria Island (VI)

₦6,710,000 per year

6

Katampe

₦6,420,000 per year

7

Guzape District

₦6,080,000 per year

Most Expensive Flats for Rent

Rank

State

Average Price

1

Lagos

₦2,280,000 per year

2

Abuja

₦2,020,000 per year

3

Rivers

₦720,000 per year

4

Delta

₦670,000 per year

5

Enugu

₦540,000 per year

6

Oyo

₦470,000 per year

7

Edo

₦410,000 per year

 

Rank

Locality

Average Price

1

Ikoyi

₦9,000,000 per year

2

Maitama District

₦6,340,000 per year

3

Victoria Island (VI)

₦4,680,000 per year

4

Guzape District

₦3,210,000 per year

5

Asokoro District

₦3,170,000 per year

6

Wuse 2

₦3,130,000 per year

7

Utako

₦2,700,000 per year

Post Script

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For more information about Joe Nigeria

Location: Nigeria

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