When a prospect asks, “How much is a house in Nigeria,” I know s/he either wants to know the cost of building a house in Nigeria or the cost of buying an already-built property in Nigeria.
Irrespective of their decisions to either buy or build, they may need answers to one of the following questions depending on the type of house they want:
- How much does it cost to build a 2 bedroom flat in Nigeria?
- How much does it cost to build a standard 3 bedroom house in Nigeria?
- How much will it cost to build a 3 bedroom duplex in Nigeria?
- How much is a 4 bedroom flat in Nigeria? or
- What is the cost of building a 5 bedroom duplex in Nigeria?
The list, directly above, shows that the question is vague and complex. However, I will give the most professional and helpful advice on how much a house is worth in Nigeria. I will factor in inflation because it affects the cost of building houses in the country.
For simplicity, let’s start with the cost of buying an already-built property in Nigeria.
How Much Is A House In Nigeria In US Dollars
Most of our clients are Nigerians in the Diaspora. So, a lot of time, they prefer knowing house prices in Nigeria in US Dollars.
Unfortunately, only very few developers like Redbricks tag their prices in US Dollars. Using Amen Estate Phase 2 as a case study, let’s look at the price of houses in Nigeria in US Dollars:
2 Bed Back To Back Semi Detach = $105,000 = #105,000,000 (Sold out)
3 Bed Detached Duplex + BQ = $145,000 = #145,000,000 (Edited)
This stunning 3-bedroom detached duplex is aesthetically designed with a creative touch of class & splendour.
4 Bed Detached Duplex + BQ = $160,000 = #160,000,000 (Edited)
This 4 bedroom duplex design catches the fancy of most real estate investors in Lagos, Nigeria.
A 4 Bed Detached Duplex + BQ (Luxury) = $168,000 = #168,000,000 (Sold out)
4 Bed Detached Villa + BQ = $168,000 = #168,000,000 (Edited)
This magnificent 4 bedroom detached villa, has striking views of the elite neighbourhood. It offers flexible living space in a large compound.
A 4 Bed Detached Villa With Pent House + BQ = $168,000 = #168,000,000 (Sold out)
4 Bed Back To Back Semi Detached = $117,000 = #117,000,000 (Sold out)
5 Bed Detached Villa (Ecliptic Staircase) + BQ = $218,000 = #218,000,000 (Sold out)
A 5 Bed Detached Villa With BQ = $200,000 = #200,000,000 (Sold out)
5 Bed Detached Villa With Pent House = $240,000 = #240,000,000 (Edited)
Check out this 5 bedroom detached villa, with a penthouse and a BQ. It is mind-blowing and perfect for a large family.
Commercial Land For Sale = $60,000 = #60,000,000
You only need $60,000 for each plot of commercial land offered for sale in Amen Estate Phase 2 if you are making an outright payment. The price is slightly higher for instalments.
Amen Estate Phase 2 is the true definition of luxury houses in Nigeria. Thus, its prices are a little higher than Hockley Millennial Town, which has some cheap houses for sale in Nigeria. You can check them out.
How Much Is A House In Lagos, Nigeria?
There are several houses for sale in Lagos, Nigeria, with varying prices. We can, however, take a clue from Hockley Millennial Town – an estate that presently showcases several units of 1 and 2 bedrooms as presented below:
- 1 Bedroom Co-living = #12,500,000
- 1 Bedroom Studio = #17,000,000
- 2 Bedroom Apartment = #25,000,000
- 2 Bedroom Maisonette = #30,000,000
- 3 Bedroom Semi-detached Villa = #75,000,000
- 4 Bedroom Semi-detached Villa = #85,000,000
- 5 Bedroom Semi-detached Villa = #100,000,000
With these figures, you can estimate the average house price of a well-furnished 1 or 2-bedroom apartment in Nigeria.
Cost Of Building A House Versus Cost Of Buying Property In Nigeria
Before we proceed, let me emphasize that (other things being equal), the cost of building a house in Nigeria is slightly lower than the cost of buying a property in Nigeria. But it’s not always so. Wastages and pilfering at the site can make it cost more to build than buying a house in Nigeria.
So if you’ve been wondering if it is cheaper to buy or build a house in Nigeria, now you know. No one can give a straight answer to questions relating to the cost of building a house in Nigeria because it is influenced by a lot of factors.
Luxury Houses Versus Beautiful Houses In Lagos, Nigeria
There is a common saying in Nigeria, “better soup, na money kill ahm”. This implies it costs more money to acquire something better. So, when you decide to build a house, its quality, size, nature, and aesthetics will determine the total cost of the building.
A quick check on Nigerian housing prices shows that luxury or smart Nigerian homes cost more than non-smart but beautiful houses.
Factors That Influence The Cost Of Building A House In Nigeria Are:
- Price of the plot of land: The average price of a plot of land in suburbs ranges from #500,000 – #5,000,000 while it runs into units, tens and hundreds of millions in the city centre, especially in Lagos, Nigeria. For a quick reference, you can check out Queens Park Estate Phase 2 = #4,000,000 or Amen Estate Phase 3 = #20,000,000.
- Documentation and development levy: The items here are deed of assignment, survey, building plan and approval, governor’s consent and C of O. It ranges from #1,500,000 – #10,000,000 depending on location, size, etc.
- Borehole or Well: While the average cost of a borehole is about #700,000 (a little less or a little more depending on the soil hardness, size of pumping machine and tank etc.), the cost of a well is about #150,000.
- Soakaway and foundation: A solid work on soakaway and the foundation of the building should average #2,000,000 – #10,000,000.
- Roofing: Aluminum roofing runs into #3,500,000 – #5,000,000
1 Million Naira Versus 10 Million Naira House In Nigeria
When considering how much is it to build a house in Nigeria or to buy one (at least), people often ask if it is still possible to get a 1 million naira house in Nigeria. Well, that’s a dream that ended several years back.
The average you can get is a 10 million Naira house in Lagos, Nigeria. It will at least give some level of comfort and security.
Please note that the average house in Nigeria that #10,000,000 can afford is a cost-minimized 1-bedroom flat. It will require more money to build a bigger apartment.
How Much Does It Cost To Build A 1 Bedroom Flat In Nigeria?
The average house price of a 1 bedroom flat in Nigeria is #10,000,000 – #15,000,000. It can be a little outside the range, most likely higher for a luxury/smart apartment.
How Much Does It Cost To Build A Standard 2 Bedroom House In Nigeria?
A standard 2 bedroom house in Nigeria costs #15,000,000 – #25,000,000. As earlier stated, it can be slightly higher for smart homes.
How Much Does It Cost To Build A Standard 3 Bedroom House In Nigeria?
With the current rate of inflation in Nigeria, a 3 bedroom apartment should costs #20,000,000 – #30,000,000.
How Much Will It Cost To Build A 3 Bedroom Duplex In Nigeria?
Most 3 bedroom duplex in Nigeria cost #35,000,000 – #60,000,000 on average. It should cost more for smart homes in that category.
How Much Is A 4 Bedroom Flat In Nigeria?
It costs just about #30,000,000 – #45,000,000 to build a 4 bedroom flat in Nigeria.
What Is The Cost Of Building A 5 Bedroom Duplex In Nigeria?
Finally, #45,000,000 – #80,000,000 should be enough to erect a 5 bedroom duplex in Nigeria.
A Quick Disclaimer And Concluding Remark
The figures presented here are a rough estimate computed by our construction team to help ascertain how much a house is in Nigeria. The prices of already-built Nigerian homes we presented are easily verifiable online.
No industry expert can give the exact figure because of inflation, lobbying to speed up paperwork, waste and breakages etc.
You can get in touch if you have an unaddressed question to ask or check out our properties if you want to buy one.
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on said
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Rachelle Hirthe
on said
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