|
Real estate market indicators are essential for wise investment decision making. Our real estate data section aims at providing the most important real estate
statistics trending in the market. These data have been carefully researched and refined into useful information with a view to aiding your understanding of the workings of
the market. It will be further subdivided into the following segments: Market and Economics, Finance & Investment Indices.
MARKET AND ECONOMICS
This segment projects established data such as the contributions of real estate to national GDP, contribution of real estate to state GDP’s (top five ranking), most active real estate locations in Nigeria, locations with highest real estate values in Nigeria and emerging real estate markets.
CONTRIBUTION OF REAL ESTATE TO NATIONAL GDP
| YEAR |
REAL ESTATE SECTOR |
TOTAL GDP |
% CONTRIBUTION |
| 2000 |
165,069.68 |
8,875,584.19 |
1.86 |
| 2001 |
185,813.47 |
9,520,538.92 |
1.95 |
| 2002 |
218,966.87 |
10,857,814.97 |
2.02 |
| 2003 |
290,467.74 |
13,402,858.97 |
2.17 |
| 2004 |
444,688.30 |
16,371,943.90 |
2.72 |
| 2009 |
680,790.74 |
20,800,015.37 |
3.27 |
CONTRIBUTION OF REAL ESTATE TO NATIONAL GDP (STATE RANKING)
| YEAR |
STATE |
REAL ESTATE SECTOR |
TOTAL GDP |
% CONTRIBUTION |
| 2000 |
ABIA |
10,234.64 |
211,586.58 |
4.84 |
|
ADAMAWA |
8,125.80 |
48,076.90 |
16.90 |
|
AKWA-IBON |
7,121.80 |
73,286.07 |
9.72 |
|
ANAMBRA |
6,590.26 |
189,704.87 |
3.47 |
|
BAUCHI |
6,063.75 |
197,896.17 |
3.06 |
|
|
|
|
|
| 2001 |
KANO |
11,520.80 |
270,955.83 |
4.25 |
|
SOKOTO |
9,146.94 |
62,145.44 |
14.72 |
|
KASTINA |
8,016.78 |
94,809.37 |
8.46 |
|
IMO |
7,418.44 |
213,138.01 |
3.48 |
|
KADUNA |
6,825.76 |
252,114.04 |
2.71 |
|
|
|
|
|
| 2002 |
KANO |
13,576.38 |
319,577.04 |
4.25 |
|
SOKOTO |
10,778.97 |
76,398.12 |
14.11 |
|
KASTINA |
9,447.15 |
113,153.45 |
8.35 |
|
IMO |
8,742.05 |
246,829.34 |
3.54 |
|
KADUNA |
8,043.64 |
281,796.96 |
2.85 |
|
|
|
|
|
| 2003 |
KANO |
18,009.57 |
348,311.90 |
5.17 |
|
SOKOTO |
14,298.70 |
83,587.35 |
17.11 |
|
KASTINA |
12,532.00 |
125,008.90 |
10.02 |
|
IMO |
11,596.66 |
301,239.68 |
3.85 |
|
KADUNA |
10,670.18 |
324,159.51 |
3.29 |
|
|
|
|
|
| 2004 |
KANO |
32,331.17 |
433,988.16 |
7.45 |
|
KASTINA |
21,233.46 |
163,361.75 |
13.00 |
|
ANAMBRA |
20,288.61 |
191,304.75 |
10.61 |
|
IMO |
20,260.45 |
373,620.81 |
5.42 |
|
KADUNA |
18,243.29 |
381,653.58 |
4.78 |
|
|
|
|
|
| 2009 |
ABIA |
46,285.94 |
274,801.52 |
16.84 |
|
KANO |
44,707.36 |
585,047.60 |
7.64 |
|
RIVERS |
36,494.76 |
2,317,064.98 |
1.58 |
|
AKWA-IBOM |
35,903.01 |
1,211,506.87 |
2.96 |
|
ANAMBRA |
26,442.69 |
228,408.14 |
11.58 |
CONTRIBUTION OF REAL ESTATE TO STATE GDP (NATIONAL RANKING)
| YEAR |
STATE |
REAL ESTATE SECTOR |
TOTAL STATE GDP |
% CONTRIBUTION |
| 2000 |
SOKOTO |
8,125.80 |
48,076.90 |
16.90 |
|
TARABA |
3,310.59 |
21,483.75 |
15.41 |
|
ADAMAWA |
4,362.85 |
29,684.41 |
14.70 |
|
KEBBI |
5,415.48 |
40,961.84 |
13.22 |
|
JIGAWA |
4,741.72 |
42,602.39 |
11.13 |
|
|
|
|
|
| 2001 |
SOKOTO |
9,146.94 |
62,145.44 |
14.72 |
|
TARABA |
3,726.62 |
27,022.82 |
13.79 |
|
ADAMAWA |
4,911.11 |
36,162.81 |
13.58 |
|
KEBBI |
6,096.03 |
52,190.41 |
11.68 |
|
JIGAWA |
5,337.60 |
53,362.57 |
10.00 |
|
|
|
|
|
| 2002 |
SOKOTO |
10,778.97 |
76,398.12 |
14.11 |
|
TARABA |
4,391.53 |
31,280.09 |
14.04 |
|
ADAMAWA |
5,787.37 |
41,495.24 |
13.95 |
|
KEBBI |
7,183.70 |
55,109.74 |
13.04 |
|
JIGAWA |
6,289.95 |
63,830.02 |
9.85 |
|
|
|
|
|
| 2003 |
ABIA |
6,851.21 |
168,343.35 |
4.07 |
|
ADAMAWA |
7,677.16 |
47,616.45 |
16.12 |
|
AKWA-IBON |
7,778.30 |
868,065.27 |
0.90 |
|
ANAMBRA |
9,062.50 |
148,273.39 |
6.11 |
|
BAUCHI |
8,645.36 |
171,875.41 |
5.03 |
|
|
|
|
|
| 2004 |
TARABA |
6,637.67 |
40,832.23 |
16.26 |
|
JIGAWA |
16,454.45 |
103,507.57 |
15.90 |
|
SOKOTO |
15,730.79 |
116,353.97 |
13.52 |
|
YOBE |
8,959.54 |
68,644.84 |
13.05 |
|
KASTINA |
21,233.46 |
163,361.75 |
13.00 |
|
|
|
|
|
| 2009 |
ADAMAWA |
14,084.91 |
72,611.09 |
19.40 |
|
ABIA |
46,285.94 |
274,801.52 |
16.84 |
|
TARABA |
9,118.82 |
55,229.50 |
16.51 |
|
JIGAWA |
23,073.28 |
140,559.59 |
16.42 |
|
ZAMFARA |
22,099.32 |
140,709.24 |
15.71 |
MOST ACTIVE REAL ESTATE LOCATIONS IN NIGERIA
The most active locations for real estate activities are in LAGOS STATE and the FEDERAL CAPITAL TERRITORY (F.C.T), ABUJA. The locations in
each zone is further subdivided into:
1. ACTIVE AREAS (STATE-WIDE)
2. ACTIVE AREAS PER GOVERNMENT DEVELOPMENTS
LAGOS
| STATE-WIDE |
GOVERNMENT DEVELOPMENTS |
| IKOYI |
Ayobo scheme |
| LEKKI PENINSULA |
Lekki |
| VICTORIA ISLAND |
Ajara Doko |
| IKEJA GRA |
Tolu Island |
| MAGODO |
Ikorodu- Housing Estate Odonla |
| MOWE-IBAFO |
Lekki Phase III (Femi Okunnu Estate) |
| OPEBI-ALLEN |
Isheri North |
| IKORODU |
Bola Ahmed Tinubu Estate Agege |
ABUJA
| STATE-WIDE |
GOVERNMENT DEVELOPMENTS |
| MAITAMA |
KUBWA |
| ASOKORO |
DEIDEI |
| APO (MINISTERIAL HILL) |
GARKI |
| GARKI |
JIKOWYI |
| JABI/UTAKO |
GWAGWALADA |
| GWARIMPA |
LUGBE |
| WUSE |
BWARI |
FINANCE
Regarded as one of the most crucial determinants of success in any market, this segment gives the latest validated data, facts and policy
guidelines trending in the Nigerian real estate market. It will supply information such as new Central Bank housing finance regulatory provisions,
current prime lending rates from all financial institutions for the real estate and mortgage industry, graphical illustrations of the lending rates
fluctuations, and possible sources of housing finance coupled with a comprehensive list of registered, recognized institutions.
2010 CENTRAL BANK GUIDELINES
LOAN CONDITION: Total monthly amortization payments of consumer loans, inclusive of housing loan, should not exceed 33 1/3% of the net
disposable income of the prospective borrower.
LOAN TO VALUE RATIO: FLEXIBLE
INTEREST RATE: FLOATING
MAXIMUM LOAN PERIOD: 20 YEARS
LENDING RATES AS AT JANUARY 2012
| S/N |
NAME OF BANK |
REAL EST & CONSTN |
|
MORTGAGE |
|
|
|
PRIME % |
MAX % |
PRIME % |
MAX % |
| 1 |
ACCESS BANK |
12
|
18
|
12
|
18
|
| 2 |
MAINSTREET BANK
|
18 |
22 |
18 |
22 |
| 3 |
DIAMOND BANK |
17 |
23
|
17 |
22 |
| 4 |
ECOBANK NIGERIA |
17 |
20 |
12 |
18 |
| 5 |
EQUITORIAL TRUST BANK |
10 |
20 |
10 |
20 |
| 6 |
FIDELITY BANK |
19 |
23 |
19 |
23 |
| 7 |
FIRST BANK OF NIGERIA |
14 |
16 |
18 |
24 |
| 8 |
FCMB |
17 |
21.50 |
17 |
22 |
| 9 |
GUARANTY TRUST BANK |
10 |
21 |
10 |
21 |
| 10 |
STANBIC IBTC BANK |
14 |
21 |
16 |
22 |
| 11 |
CITI BANK NIGERIA |
13 |
21 |
- |
- |
| 12 |
SKYE BANK |
17 |
22 |
19 |
22 |
| 13 |
STANDARD CHARTERED BANK |
13 |
16 |
12 |
14 |
| 14 |
STERLING BANK |
18 |
22 |
18 |
23 |
| 15 |
UNION BANK |
15 |
20 |
16 |
20 |
| 16 |
UNITED BANK FOR AFRICA |
14.5 |
24 |
10 |
24 |
| 17 |
UNITY BANK |
19 |
27 |
19 |
27 |
| 18 |
WEMA BANK |
18 |
21 |
18 |
21 |
| 19 |
ZENITH BANK |
13 |
20 |
13 |
19 |
SOURCES OF HOUSING FINANCE
1. BANKS
2. PRIMARY MORTGAGE INSTITUTIONS
3. FEDERAL MORTGAGE BANK
4. STATE HOUSING CORPORATIONS
LIST OF REGISTERED PRIMARY MORTGAGE INSTITUTIONS IN NIGERIA
| NAME |
DATE LICENSED |
STATE |
| ABBEY BUILDING SOCIETY LTD. |
|
LAG |
| ACCESS HOMES & MORTGAGES LIMITED |
1/17/2009 |
LAG |
| ACCLAIM HOME SAVINGS & LOANS LTD |
|
LAG |
| ACCORD SAVINGS & LOANS LTD |
|
LAG |
| ADAMAWA SAVINGS & LOANS LIMITED |
6/11/2007 |
ADA |
| AG HOMES SAVINGS & LOANS LIMITED |
6/11/2007 |
LAG |
| AKWA SAVINGS & LOANS LIMITED |
2/26/2008 |
AKW |
| ALLWELL SAVINGS & LOANS LIMITED |
|
ANA |
| AMEX SAVINGS & LOANS LIMITED |
11/3/2008 |
ENU |
| ANAMBRA HOME OWNERSHIP CO. LIMITED. |
|
ANA |
| ASO SAVING & LOANS PLC |
11/3/2008 |
ABU |
| BENHOUSE BUILDING SOCIETY LIMITED |
|
BEN |
| CENTAGE SAVINGS & LOANS LIMITED |
|
LAG |
| CITIHOMES SAVINGS & LOANS LIMITED |
6/11/2007 |
LAG |
| CITY CODE SAVINGS & LOANS LIMITED |
|
LAG |
| CONFLUENCE SAVINGS & LOANS LIMITED |
6/11/2007 |
ABU |
| CONSOLIDATED ESTATE BUILDING SOCIETY |
|
IMO |
| COOP SAVING & LOANS LIMITED |
|
OYO |
| CORNERSTONE BUILDING SOCIETY LIMITED |
|
LAG |
| CREDENCE SAVINGS & LOANS LIMITED |
11/3/2008 |
LAG |
| DALA BUILDING SOCIETY LIMITED |
6/11/2007 |
KAN |
| DELTA BUILDING SOCIETY LTD |
|
DEL |
| DIAMOND BUILDING SOCIETY LIMITED |
6/11/2007 |
LAG |
| EIB BUILDING SOCIETY LIMITED |
|
LAG |
| ESTAPORT BUILDING SOCIETY LIMITED |
6/11/2007 |
LAG |
| EURO - BANC SAVINGS & LOANS LIMITED |
|
KAN |
| FBN MORTGAGES LIMITED |
6/11/2007 |
LAG |
| FHA HOMES SAVINGS & LOANS LTD. |
|
ABU |
| FIRST AMALGAMATED BUILDING BUILDING SOCIETY LTD. |
KWA |
| FIRST CAPITAL SAVINGS & LOANS LIMITED |
|
PLA |
| FIRST GENERATION HOMES (SAVINGS & LOANS) LIMITED |
11/3/2008 |
ABU |
| FOKAS SAVINGS & LOANS LTD. |
|
OGU |
| FUTUREVIEW MORTGAGES LIMITED |
9/18/2008 |
LAG |
| GATEWAY SAVINGS & LOANS LIMITED |
6/11/2007 |
OGU |
| GLOBAL TRUST SAVINGS & LOANS LTD. |
|
LAG |
| GT HOMES LIMITED |
|
LAG |
| HAGGAI SAVINGS AND LOANS LIMITED |
|
LAG |
| HALLMARK HOMES SAVINGS & LOANS LTD |
|
LAG |
| HARVARD TRUST SAVINGS & LOANS LTD. |
|
ENU |
| HOME FOUNDATION SAVINGS & LOANS LTD. |
|
LAG |
| HOME TRUST SAVINGS & LOANS LIMITED |
11/3/2008 |
LAG |
| HOMEBASE MORTGAGE LIMITED |
3/30/1993 |
LAG |
| HORIZON BUILDING SOCIETY LTD. |
|
ABU |
| IMANI SAVINGS & LOANS LTD. |
|
ABU |
| INFINITY TRUST SAVINGS & LOANS LIMITED |
6/11/2007 |
ABU |
| INTERCONTINENTAL SAVINGS & LOANS LIMITED |
6/11/2007 |
LAG |
| JIGAWA SAVINGS & LOANS LIMITED |
6/11/2007 |
JIG |
| JUBILEE-LIFE SAVINGS & LOANS LIMITED |
|
LAG |
| JUBILLEE BUILDING SOCIETY |
|
LAG |
| KEBBI STATE HOME SAVINGS & LOANS LTD. |
|
KEB |
| KOGI STATE SAVINGS & LOANS LTD. |
|
KOG |
| LAGOON HOMES SAVINGS LOANS LTD. |
|
LAG |
| LAGOS BUILDING SOCIETY LTD. |
|
LAG |
| LEVERAGE HOME SAVINGS & LOANS LTD |
|
LAG |
| LIVINGSPRING SAVINGS & LOANS LTD. |
|
OSU |
| MAGNET SAVINGS & LOANS LIMITED |
6/11/2007 |
LAG |
| MAYFRESH SAVINGS & LOANS LIMITED |
|
ABI |
| METRO MORTGAGES LIMITED |
|
LAG |
| MIDLAND MORTGAGES LIMITED |
11/3/2008 |
DEL |
| MORTGAGE GUARANTY SAVINGS & LOANS LIMITED |
6/11/2007 |
ABU |
| MORTGAGES PHB LIMITED |
|
LAG |
| MULTIBANC SAVINGS & LOANS LTD |
|
LAG |
| MUSTARD SEED MORTGAGE LIMITED |
6/11/2007 |
LAG |
| MUTUAL ALLIANCE SAVING & LOANS LIMITED |
6/11/2007 |
AKW |
| NEW CAPITAL SAVINGS & LOANS LIMITED |
6/11/2007 |
ABU |
| NEW PRUDENTIAL BUILDING SOCIETY LIMITED |
|
LAG |
| OASIS SAVINGS & LOANS LIMITED |
|
LAG |
| OCEANIC HOMES (SAVINGS & LOANS) LIMITED |
|
LAG |
| OMEGA SAVINGS & LOANS LIMITED |
6/11/2007 |
LAG |
| OWNERS HOME SAVINGS & LOANS LIMITED |
|
LAG |
| PACIFIC SAVINGS & LOANS LIMITED |
|
LAG |
| PASSWORD SAVINGS & LOANS LIMITED |
|
LAG |
| PEAK SAVINGS & LOANS LIMITED |
|
LAG |
| PERSONAL TRUST SAVINGS & LOANS LIMITED |
|
LAG |
| PLATINUM SAVINGS & LAONS LIMITED |
6/11/2007 |
LAG |
| POST SERVICE SAVINGS & LOANS LIMITED |
11/3/2008 |
LAG |
| REFUGE HOME SAVINGS & LOANS LIMITED |
|
LAG |
| RESORT SAVINGS & LOANS LIMITED |
|
LA |
| ROYAL SAVINGS & LOANS LIMITED |
|
DEL |
| SAFE TRUST SAVINGS & LOANS LIMITED |
|
LAG |
| SAKKWATO SAVINGS & LOANS LIMITED |
6/11/2007 |
SOK |
| SKYFIELD SAVINGS & LOANS LIMITED |
6/11/2007 |
LAG |
| SOLID TRUST SAVINGS & LOANS LIMITED |
6/11/2007 |
LAG |
| SPRING MORTGAGE LIMITED |
6/11/2007 |
LAG |
| STALLION HOME SAVINGG & LOANS LIMITED |
|
LAG |
| STB BUILDING SOCIETY LIMITED |
|
LAG |
| SUBURBAN TRUST SAVINGS & LOANS LIMITED |
|
LAG |
| SUNTRUST SAVINGS & LOANS LIMITED |
3/12/2009 |
ABU |
| SUPREME SAVINGS & LOANS LIMITED |
|
LAG |
| TARABA SAVINGS & LOANS LIMITED |
6/11/2007 |
TAR |
| TMC SAVINGS & LOANS LIMITED |
|
LAG |
| TRANS ATLANTIC MORTGAGES LIMITED |
5/23/2008 |
BAY |
| TRINITY SAVINGS & LOANS LIMITED |
|
LAG |
| UNION HOME SAVINGS & LOANS LIMITED |
|
LAG |
| UNITED MORTGAGE LIMITED |
6/11/2007 |
LAG |
| WEMA SAVINGS & LOANS LIMITED |
6/11/2007 |
LAG |
| YANKARI SAVINGS & LOANS LIMITED |
6/11/2007 |
BAU |
| YOBE STATE SAVINGS & LOANS LIMITED |
6/11/2007 |
YOB |
NOTE:
Primary data sources are Central Bank of Nigeria and National Bureau of Statistics. However, these raw data were further
processed and analysed to derive some more indicators as presented above.
INVESTMENT INDICES
This segment analyzes raw data to produce facts critical to investment analysis. It will supply essential data such as Return on Investment (ROI) for selected locations in Nigeria, Payback period on these investments, sale value on selected properties types and uses as well as their rental values.
LOCATIONS WITH HIGHEST REAL ESTATE VALUE IN NIGERIA (LAGOS)
RESIDENTIAL
| LOCATION |
SALE VALUE |
LEASE VALUE |
YIELD IN % |
PAYBACK PERIOD (YEARS) |
| IKOYI |
200,000,000.00 |
6,000,000.00 |
3.00 |
33.3 |
| VICTORIA ISLAND |
160,000,000.00 |
4,000,000.00 |
2.50 |
40.0 |
| LEKKI PHASE 1 |
70,000,000.00 |
3,000,000.00 |
4.29 |
23.3 |
| VICTORIA GARDEN CITY |
85,000,000.00 |
2,500,000.00 |
2.94 |
34.0 |
| MAGODO |
55,000,000.00 |
3,000,000.00 |
5.45 |
18.3 |
| OGUDU GRA |
65,000,000.00 |
2,500,000.00 |
3.85 |
26.0 |
| OMOLE |
80,000,000.00 |
2,000,000.00 |
2.50 |
40.0 |
| IKEJA GRA |
180,000,000.00 |
6,000,000.00 |
3.33 |
30.0 |
| OPEBI |
70,000,000.00 |
1,800,000.00 |
2.57 |
38.9 |
| NICON TOWN |
120,000,000.00 |
4,000,000.00 |
3.33 |
30.0 |
COMMERCIAL (OFFICE SPACE)
| LOCATION |
FLOOR AREA (SQ.MTS) |
SALE VALUE |
RENTAL VALUE |
YIELD IN % |
PAYBACK PERIOD (YEARS) |
| LAGOS ISLAND |
635 |
80,000,000.00 |
4,000,000.00 |
5.00 |
20.0 |
| VICTORIA ISLAND |
1,700 |
350,000,000.00 |
68,000,000.00 |
19.43 |
5.1 |
| IKEJA |
569 |
120,000,000.00 |
5,000,000.00 |
4.17 |
24.0 |
| AGIDINGBI |
1,500 |
50,000,000.00 |
1,800,000.00 |
3.60 |
27.8 |
| LEKKI-EPE AXIS |
585 |
100,000,000.00 |
23,400,000.00 |
23.40 |
4.3 |
COMMERCIAL (SHOPS)
| LOCATION |
FLOOR AREA (SQ.MTS) |
SALE VALUE |
RENTAL VALUE |
YIELD IN % |
PAYBACK PERIOD (YEARS) |
| LSDPC SHP CTR IKEJA |
15 |
8,500,000.00 |
450,000.00 |
5.29 |
18.9 |
|
36 |
14,000,000.00 |
1,250,000.00 |
8.93 |
11.2 |
|
55 |
25,000,000.00 |
2,000,000.00 |
8.00 |
12.5 |
| SURA SHP COMLEX |
25 |
7,000,000.00 |
500,000.00 |
7.14 |
14.0 |
| IKOTA SHP COMPLEX |
24 |
5,000,000.00 |
500,000.00 |
10.00 |
10.0 |
| MEDICAL ROAD, IKEJA |
30 |
6,000,000.00 |
250,000.00 |
4.17 |
24.0 |
| DOPEMU SHP COMPLEX |
15 |
350,000.00 |
5,000.00 |
1.43 |
70.0 |
| DOLPHIN PLAZA SHOP |
30 |
18,000,000.00 |
1,000,000.00 |
5.56 |
18.0 |
INDUSTRIAL (WARE-HOUSES)
| LOCATION |
FLOOR AREA (SQ.FT) |
SALE VALUE |
RENTAL VALUE |
YIELD IN % |
PAYBACK PERIOD (YEARS) |
| OREGUN |
55,000 |
700,000,000.00 |
66,000,000.00 |
9.43 |
10.6 |
| ACME |
30,000 |
260,000,000.00 |
36,000,000.00 |
13.85 |
7.2 |
| ILUPEJU |
25,000 |
450,000,000.00 |
30,000,000.00 |
6.67 |
15.0 |
| APAPA-OSHODI EXP WAY |
28,000 |
500,000,000.00 |
33,600,000.00 |
6.72 |
14.9 |
| APAPA |
65,000 |
700,000,000.00 |
78,000,000.00 |
11.14 |
9.0 |
| OBA AKRAN |
15,000 |
700,000,000.00 |
18,000,000.00 |
2.57 |
38.9 |
| BOLADE OSHODI |
30,000 |
400,000,000.00 |
36,000,000.00 |
9.00 |
11.1 |
| AMUWO ODOFIN |
30,000 |
900,000,000.00 |
36,000,000.00 |
4.00 |
25.0 |
| ORILE IGANMU |
60,000 |
500,000,000.00 |
72,000,000.00 |
14.40 |
6.9 |
| ERIC MOORE |
45,000 |
750,000,000.00 |
54,000,000.00 |
7.20 |
13.9 |
| PUNCH ESTATE IKEJA |
5,000 |
35,000,000.00 |
6,000,000.00 |
17.14 |
5.8 |
| AGEGE |
25,000 |
230,000,000.00 |
30,000,000.00 |
13.04 |
7.7 |
| KIRI-KIRI |
25,000 |
180,000,000.00 |
30,000,000.00 |
16.67 |
6.0 |
LOCATIONS WITH HIGHEST REAL ESTATE VALUE IN NIGERIA (ABUJA)
RESIDENTIAL
| LOCATION |
SALE VALUE |
LEASE VALUE |
YIELD IN % |
PAYBACK PERIOD (YEARS) |
| MAITAMA |
450,000,000.00 |
6,000,000.00 |
1.33 |
75.0 |
| ASOKORO |
500,000,000.00 |
7,000,000.00 |
1.40 |
71.4 |
| APO (MINISTERIAL HILL) |
500,000,000.00 |
8,500,000.00 |
1.70 |
58.8 |
| GARKI |
300,000,000.00 |
3,500,000.00 |
1.17 |
85.7 |
| JABI/UTAKO |
120,000,000.00 |
2,000,000.00 |
1.67 |
60.0 |
| GWARIMPA |
60,000,000.00 |
1,200,000.00 |
2.00 |
50.0 |
| WUSE |
150,000,000.00 |
1,800,000.00 |
1.20 |
83.3 |
LAGOS RENTAL TRENDS 2011-2012
LAGOS ISLAND
|
LEKKI PHASE 1 |
VGC |
| Type of Property |
Jan-10 |
Jan-11 |
Jan-12 |
Jan-10 |
Jan-11 |
Jan-12 |
| 2bdr flat |
N1.2m |
N2.2m |
N2.2m |
N1m |
N1m |
N1m |
| 3bdr flat |
N2m |
N2.5m |
N2.5m |
N1.8m |
N1.5m |
N1.5m |
| 4bdr semi-detached house |
N3m |
N3.5m |
N3.5m |
N3m |
N3m |
N3m |
| 5bdr detached house |
N5m |
N4.5m |
N5m |
N4m |
N5m |
N4m |
|
|
|
|
|
|
|
|
FEMI OKUNNU ESTATE |
|
OLD IKOYI |
(3 BDR LUX FLAT) |
| 2bdroom wing of bungalow |
N350, 000 |
N450, 000 |
N600, 000 |
N7m |
N10m |
N8m |
| 3bedroom wing of bungalow |
N550, 000 |
N700, 000 |
N800, 000 |
|
|
|
|
|
|
|
|
|
|
|
V.I ONIRU ESTATE |
|
IKOYI |
|
|
| 3bedroom serviced flat |
N4.5m |
N4m |
N4m |
N8.5m |
N9m |
N9m |
| 4bedroom wing of duplex |
N6m |
N6.5m |
N6.5m |
N8m |
N10m |
N10m |
|
|
|
|
|
|
|
|
V.I |
|
|
PARKVIEW ESTATE |
|
|
| 3bedroom luxury flat |
N4.5m |
N6m |
N6m |
N7m |
N8m |
N7m |
| 5bedroom fully detached house |
N8m |
N10m |
N9m |
N8m |
N10m |
N10m |
LAGOS MAINLAND
| Omole Phase 1 |
|
|
|
|
Omole Phase 2 |
|
|
|
| Type of Property |
Apr-08 |
Apr-09 |
Apr-10 |
|
Type of Property |
Apr-08 |
Apr-09 |
Apr-10 |
| 3bedroom flat |
N800, 000 |
N1million |
N900, 000 |
|
3bedroom flat |
N650, 000 |
N850, 000 |
N750, 000 |
| 4bedroom wing of duplex |
N1.5million |
N1.7million |
N1.5million |
|
4bedroom wing of duplex |
N1.2million |
N1.5million |
N1.2million |
| 5bedroom detached house |
N2million |
N2.5million |
N2.2million |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ikeja GRA |
|
|
|
|
Ogudu GRA |
|
|
|
| Type of Property |
Apr-08 |
Apr-09 |
Apr-10 |
|
Type of Property |
Apr-08 |
Apr-09 |
Apr-10 |
| 3bedroom flat |
N3million |
N3.5million |
N3.5million |
|
3bedroom flat |
N800, 000 |
N1.5million |
N1.2million |
| 4bedroom wing of duplex |
N4.5million |
N5million |
N5million |
|
4bedroom wing of duplex |
N1.5million |
N2.2million |
N2million |
| 5bedroom detached house |
N6million |
N6.5million |
N6million |
|
5bedroom detached house |
N2million |
N3million |
N3million |
|
|
|
|
|
|
|
|
|
| Magodo GRA (Shangisha) |
|
|
|
|
|
|
|
|
| Type of Property |
Apr-08 |
Apr-09 |
Apr-10 |
|
Awuse Estate |
|
|
|
| 3bedroom flat |
N800, 000 |
N1million |
N1million |
|
Type of Property |
Apr-08 |
Apr-09 |
Apr-10 |
| 4bedroom wing of duplex |
N1.5million |
N2.2million |
N1.9million |
|
3bedroom flat |
N1.5million |
N2.5million |
N2.2million |
| 5bedroom detached house |
N2.2million |
N2.5million |
N2.5million |
|
4bedroom wing of duplex |
N2million |
N3million |
N3million |
|
|
|
|
|
|
|
|
|
| Shonibare Estate |
|
|
|
|
LSDPC Flat Iponri |
|
|
|
| Type of Property |
Apr-08 |
Apr-09 |
Apr-10 |
|
Type of Property |
Apr-08 |
Apr-09 |
Apr-10 |
| 3bedroom serviced flat |
N4million |
N5million |
N5million |
|
2bedroom flat |
N200, 000 |
N250, 000 |
N250, 000 |
|
|
|
|
|
3bedroom flat |
N250, 000 |
N300, 000 |
N300, 000 |
Source: CASTLE MAGAZINE
NOTE: FOR RENTAL INFORMATION ON PRIOR YEARS KINDLY SEND A REQUEST TO
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