Research Insights

Nigeria’s housing deficit currently stands at 28 million units, according to data from the Federal Mortgage Bank of Nigeria (FMBN). According to the Central Bank of Nigeria, it will take an investment of about $46.7 billion dollars over 20 years to meet the country’s housing demand.   As of today, Nigeria imports 90% of the materials […]

Many house renters know that finding the right living place can be a struggle. It usually means spending hours scouring property listings online, setting up multiple viewings, and commuting to meet property agents and landlords. The allure of a new space can cloud judgment, leading renters to overlook critical aspects that could make or break […]

Lagos State is the most vibrant economic powerhouse in Nigeria, with an approximate population of 16.5 million people. The city has a capital importation of $308.83 million accounting for 47.18% of Nigeria’s total capital importation as of Q3 2023. The state has been recorded as the commercial capital of Nigeria and the economic hub of West […]

In this edition of the Nigerian Property Price Index Report, we found that there was an overall spike in property prices in 2023 asking prices compared to 2022. Lagos and Abuja had the highest increases underpinned by rising cost of building materials, FX volatilities and operational costs.

Renting an apartment may be both an exciting as well as terrifying activity. Whether you’re a longtime tenant or a first-time renter, there are a lot of other things to think about in addition to the advertised rent for your new apartment. Beneath the surface, hidden costs can frequently be under the radar, causing financial […]

If you have ever rented an apartment in Lagos, you must have noticed the new trend where agents charge inspection fees before they conduct inspections. Although this practice is mostly prevalent among upcoming agents who typically service the low to middle-income segment of the market, it is something that most people frown at.   This […]