What is the worth of Lagos real estate market

The Lagos real estate market was estimated to be worth around $35 billion according to a report by PwC Nigeria. This is a significant increase from its estimated worth of $20 billion in 2018, and it is expected to continue growing in the coming years.

The Lagos real estate market is one of the largest and most active in Africa, driven by factors such as rapid urbanization, population growth, and a growing middle class. The market comprises a range of properties, including residential, commercial, retail, and hospitality.

Residential properties, particularly luxury apartments and detached houses, are some of the most expensive in the market, with prices ranging from several hundred thousand dollars to millions of dollars. Commercial properties, such as office buildings, shopping malls, and warehouses, are also in high demand, driven by the growth of the city’s business sector.

Overall, the Lagos real estate market is characterized by high demand and limited supply, resulting in high property prices and rental yields. However, the market also faces challenges such as inadequate infrastructure, regulatory issues, and security concerns, which can impact its growth and attractiveness to investors.