“How much is my property worth?” is the first question every seller asks, and the answer decides how fast you sell. Price too high and your property sits for months while buyers move on; price too low and you lose money you can never get back. Here is how to work out a realistic value for a house, flat or plot in Lagos.
The five things that drive value in Lagos
- Location: the area, the estate and even the street. A home on a quiet, dry street in Lekki Phase 1 can be worth far more than a similar one a few roads away.
- Title: a C of O or Governor’s Consent commands a premium over weaker or unperfected titles.
- Size and layout: plot size, built area, bedrooms, a BQ and parking.
- Condition and finishing: newly built and well finished homes sell faster and for more.
- Infrastructure: road access, flooding history, power, water and estate security.
Step 1: Find comparable properties
Look for properties like yours, in the same area and estate, with similar size, title and finishing. Our area pages show live price ranges for Lekki, Ikoyi, Victoria Island, Ajah, Chevron, Ikate and more. Remember that asking prices are not sale prices: well-priced properties sell, overpriced ones linger.
Step 2: Adjust for your property
Add value for better title, a corner piece, a pool, a BQ, newer finishing or a better street. Take value off for flooding, a weak title, poor access or work that a buyer will need to do. Be honest: buyers and their lawyers will find the issues anyway.
Step 3: Get a professional valuation for high-value property
For prime homes and large sites, a valuation by a registered estate surveyor and valuer gives you an independent figure to anchor negotiations, and banks require one for mortgage buyers. Also note that since May 2026, Lagos uses fair market values for Governor’s Consent and related charges, so buyers will compare your price with official values.
Step 4: Test the market
If you receive no serious enquiries within the first few weeks of a well-presented listing, the price is usually the problem. Small, early adjustments sell homes; big, late cuts make buyers suspicious.
Common pricing mistakes
- Pricing from what you need, not what the market will pay.
- Copying the highest asking price in the area.
- Ignoring title or flooding issues.
- Letting different agents quote different prices.
List your property free on Propslisting
Not sure what to ask? List your property free on Propslisting and our team will discuss pricing with you before it goes live. You pay a 5% commission only when the sale completes, and private, off-market listings are available. Read our guide on how to sell your property fast in Lagos.
Frequently asked questions
How do I know the value of my house in Lagos?
Compare similar properties in the same area and estate, adjust for title, size and condition, and for high-value homes get a valuation from a registered estate surveyor and valuer.
Do title documents affect property value in Nigeria?
Yes. A C of O or Governor’s Consent usually commands a higher price and sells faster than an unperfected or weaker title.
Why is my property not selling?
The most common reasons are an asking price above the market, poor photos, unclear title or slow responses to enquiries.
Can Propslisting help me price my property?
Yes. When you list, our team reviews the details and can discuss pricing against similar listings in your area.
