Real estate in Nigeria is booming — and for international investors, diaspora Nigerians, or curious global citizens, one question frequently pops up: how much is a house in Nigeria in US dollars?
Whether you’re thinking about relocating, investing, or just want a sense of the market, this comprehensive guide breaks it all down.
With Nigeria’s bustling urban centers, diverse architecture, and growing demand for housing, understanding the cost of property in USD makes the process more accessible. Let’s walk through real numbers, exchange rate dynamics, regional price differences, and smart investment tips.
Why Convert Property Prices to USD?
For many foreigners, investors, and Nigerian expatriates, evaluating property in Nigeria using the US dollar makes things easier. Here’s why:
- Currency Familiarity: Most international buyers work in USD.
- Stability: The naira (₦) fluctuates — USD offers a more stable point of reference.
- Comparison: It allows you to easily compare Nigerian real estate prices with other global markets.
By converting to USD, you also sidestep some of the confusion that comes from inflation or sudden exchange rate dips.
Currency Exchange Rates and Trends
The value of Nigeria’s naira changes frequently. As of early 2025:
- 1 USD ≈ ₦1400–₦1500 (fluctuates daily)
This means that a property listed at ₦75,000,000 is roughly $50,000–USD 53,000.
Always check the official CBN rate or use platforms like XE for updated rates.
Pro Tip: When budgeting, add a 5–10% buffer for exchange rate fluctuations.
Major Cities and Average Housing Prices
Here’s a glance at how house prices vary in major Nigerian cities (approximate ranges):
| City | Average Price (₦) | USD Equivalent |
|---|---|---|
| Lagos | ₦50M–₦300M | $35,000–$210,000 |
| Abuja | ₦40M–₦250M | $28,000–$175,000 |
| Port Harcourt | ₦30M–₦200M | $21,000–$140,000 |
| Kano | ₦15M–₦80M | $10,000–$56,000 |
Prices are based on urban areas; suburbs or outskirts can cost significantly less.
Urban vs Rural Property Cost Comparison
Urban Areas
- High demand
- Better infrastructure
- Prices in USD: $60,000–$200,000+
Rural Areas
- Low development cost
- Limited facilities
- Prices in USD: $5,000–$25,000
For investors, urban areas offer better ROI, but rural areas present low-entry opportunities.
Types of Homes Available in Nigeria
Nigeria has a diverse range of housing options:
| House Type | Description | Price Range (USD) |
|---|---|---|
| Bungalow | Single-floor, detached home | $30,000–$120,000 |
| Duplex | Two floors, luxury finishes | $60,000–$250,000 |
| Terraced House | Row-style, modern design | $50,000–$150,000 |
| Flat (Apartment) | Common in urban centers | $20,000–$80,000 |
| Mansion | For high-net-worth buyers | $300,000+ |
How Much is a House in Lagos in USD?
Lagos is the commercial heart of Nigeria, and real estate here is in high demand.
| Location in Lagos | Price (₦) | USD Equivalent |
|---|---|---|
| Lekki Phase 1 | ₦120M | ~$85,000 |
| Ikoyi | ₦300M+ | ~$210,000+ |
| Ajah | ₦65M | ~$45,000 |
| Ikeja | ₦90M | ~$63,000 |
Gated estates like Banana Island are among the most expensive real estate in Africa.
Cost of a House in Abuja in USD
As Nigeria’s capital, Abuja features strategic neighborhoods for diplomats and elites.
| Area | Price (₦) | USD Approx. |
|---|---|---|
| Maitama | ₦200M+ | $140,000+ |
| Asokoro | ₦180M | $126,000 |
| Gwarinpa | ₦80M | $56,000 |
| Lugbe | ₦50M | $35,000 |
Hidden Costs in Buying Nigerian Property
When budgeting, remember that the sale price isn’t all you’ll pay.
- Legal Fees: ~5% of property value
- Land Survey / Title Check: $500–$2,000
- Agent Commission: 5–10%
- Stamp Duties: 1.5–2%
Tip: Always work with a reputable lawyer and agent to avoid fraud.
Housing for Locals vs Expats
For Locals:
- More likely to build on family land
- Pay in Naira
- Use a mortgage sparingly
For Expats:
- Prefer buying finished homes
- Often paid in USD
- Seek secure, gated communities
Nigerian Mortgage System and Foreign Buying
While there’s a mortgage system in place, it’s underdeveloped:
- High interest rates (up to 25%)
- Strict requirements
- Better for locals than expats
Foreigners are legally allowed to buy property, especially through registered business entities.
How Safe is It to Invest in Nigerian Real Estate?
Nigeria’s real estate market is growing, but be aware of:
- Title fraud
- Unregistered land
- Scams from fake agents
Work with certified professionals and use verified platforms for safer transactions.
Budget Breakdown: Sample USD House Cost
| Property Type | Cost in ₦ | Cost in USD |
|---|---|---|
| 3-Bedroom Flat in Abuja | ₦75M | ~$52,000 |
| 2-Bedroom Bungalow in Enugu | ₦30M | ~$21,000 |
| Duplex in Lekki | ₦150M | ~$105,000 |
| Mansion in Ikoyi | ₦500M+ | ~$350,000+ |
Tips for Buying a House in Nigeria as a Foreigner
- Use a registered real estate agent
- Verify land title and ownership
- Always involve a lawyer
- Inspect the property personally or via a trusted party
- Avoid cash transactions
- Negotiate in USD where possible
FAQs
1. Can a foreigner legally buy a house in Nigeria?
Yes, as long as the land is not government-excluded or communal. Buying through a company is even better.
2. How much is a small house in Nigeria in USD?
You can get a small house in rural areas for $10,000–$20,000. In cities, it starts around $30,000.
3. Is it better to build or buy a house in Nigeria?
Building may be cheaper if you have trusted local contacts. Buying is faster and often safer.
4. Can I pay for Nigerian real estate in USD?
Yes, many sellers — especially in high-end markets — accept USD.
5. What’s the most expensive area to buy property in Nigeria?
Ikoyi and Banana Island in Lagos are the priciest, with homes exceeding $1 million.
6. How long does it take to complete a house purchase?
On average, 1–3 months, depending on legal checks and documentation.
Conclusion
So, how much is a house in Nigeria in US dollars? It depends, from as low as $10,000 in rural areas to over $1 million in elite Lagos neighborhoods. The market is diverse, fast-growing, and full of potential for the right buyers.
Whether you’re investing, moving back, or just exploring options, Nigeria’s housing market offers something for everyone. Just make sure you research, verify, and always work with trusted professionals.
