Why is Lagos expensive?

In this note, we have outlined 5 reasons why property prices in Lagos' top locations are expensive, and chief among the reasons include the city's large population and underserved housing demand. The number of housing units available in Lagos is not sufficient for the population.



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Nigeria - Level 3: Reconsider Travel. Updated with return to full operational status, removal of obsolete COVID-19 page links, and updates to Do Not Travel Areas. Reconsider travel to Nigeria due to crime, terrorism, civil unrest, kidnapping, and armed gangs.

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Lagos is a major African financial centre and is the economic hub of Lagos State and Nigeria at large. The city has been described as the cultural, financial, and entertainment capital of Africa, and is a significant influence on commerce, entertainment, technology, education, politics, tourism, art, and fashion.

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Lagos is a small city; you can pretty much walk everywhere. There is a 1 bus station and a 2 train station to take you to other cities (Silves, Faro, Portimao) and taxis are abundant. Walk to the beautiful sandy golden beaches.

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As a single person living alone in Lagos, you can expect to spend around 150,000 naira per month on housing, food, and other basic needs. However, a married professional with a family and several dependents may need to spend more, typically around 300,000 naira per month, for various essential needs.

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