Africa: Real Estate and Construction

The Lagos State Government has approved a revised Fair Market Value (FMV) 2026 that will fundamentally reshape property valuation and transaction costs across the state. This update affects undeveloped land, residential properties, and all government property-related transactions, requiring buyers, sellers, and developers to recalibrate their financial planning and compliance strategies.

Nigeria remains one of Africa’s most attractive real estate markets, particularly in major commercial centres such as Lagos, Abuja, Port Harcourt, Ogun State, and other fast-developing urban areas. Foreign investors buy property in Nigeria for residential use, commercial investment, industrial projects, hospitality, agriculture, warehousing, and long-term capital appreciation. However, buying property in Nigeria as a foreigner requires proper legal guidance because land ownership in Nigeria is regulated by federal and state laws, and title documentation can be complex.

Real estate remains one of the most valuable investment assets in Nigeria, particularly in Lagos State, where land values continue to rise due to population growth, commercial activity, urban expansion, and increasing demand for residential and commercial property.