Lagos, Nigeria
Property prices · 2026 · Africa · Price +2.9% vs 2025
Property price trend in Lagos (2024–2026)
Property comparison — cities in Nigeria (2026)
| City | Centre /sqm | Outside /sqm | 1-Bed Rent | vs Lagos |
|---|---|---|---|---|
| Lagos | NGN 909,500 | NGN 556,400 | NGN 267,500 | — |
| Abuja | NGN 1,072,500 | NGN 709,500 | NGN 297,000 | +17.9% |
| Port Harcourt | NGN 693,000 | NGN 453,750 | NGN 198,000 | -23.8% |
Other Africa cities (2026)
Frequently asked questions
How much does property cost in Lagos in 2026?
In Lagos, the average price per sqm in the city centre is NGN 909,500, and NGN 556,400 outside the centre (2026 data). Prices have risen 7% since 2024.
How much is rent in Lagos in 2026?
A 1-bedroom apartment in Lagos rents for approximately NGN 267,500 per month in 2026. A 3-bedroom apartment costs around NGN 513,600/month.
Is it better to buy or rent in Lagos?
Buying may offer better long-term value in Lagos. The price-to-rent ratio is 10.0x — it would take approximately 10.0 years of rental payments to equal the property purchase price. Current mortgage rates are approximately 22.50%.
What are mortgage rates in Nigeria in 2026?
The average mortgage rate in Nigeria is approximately 22.50% as of 2026. With a price-to-rent ratio of 10.0x, buyers should carefully weigh mortgage costs against rental savings.
How have property prices in Lagos changed?
Property prices in Lagos have changed +2.9% vs 2025. Since 2024, prices have increased by 7%. Use the year tabs above to compare prices across years.
What is the price per sqm in Lagos?
The average property price per square metre in Lagos city centre is NGN 909,500 in 2026. Outside the centre, expect to pay around NGN 556,400/sqm.