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Cost of building a house in Ibeju-Lekki, Lagos (2026)

Construction costs for Ibeju-Lekki using current material prices (cement ₦12,800/bag, iron rods ₦800,000/tonne) and local labour rates.

5-bedroom duplex + BQ, standard finish
₦108,017,287
280 m² · ₦385,776/m² · includes fence, gate & contingency
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Building costs in Ibeju-Lekki by house type

House typeBasicStandardLuxury
3-bedroom bungalow₦41.9M₦54.1M₦89.7M
4-bedroom bungalow + BQ₦64.3M₦78.6M₦126.2M
4-bedroom duplex + BQ₦80.7M₦98.7M₦154.6M
5-bedroom duplex + BQ₦87.8M₦108.0M₦169.4M
6-bedroom duplex + BQ₦94.8M₦117.2M₦184.2M
block of 6 two-bedroom flats₦139.6M₦197.3M₦359.9M

Where the money goes (5-bedroom duplex + BQ)

ElementShareCost
Foundation7.6%₦8,216,920
Structure22.5%₦24,338,515
Finishes25.8%₦27,815,137
Services11.6%₦12,544,520
External Works21.2%₦22,880,818
Prelims & Contingency11.3%₦12,221,377
Total100%₦108,017,287

Property market in Ibeju-Lekki

New-build sale price₦525,000 / m²
Gross rental yield4.3%
Typical capital growth20% / year
DemandHigh
Average time to sell6 months
Typical land price₦72,000 / m² (≈ ₦46.7M per plot)
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Frequently asked questions

How much does it cost to build a 5-bedroom duplex in Ibeju-Lekki?

About ₦108.0M for a standard-finish 5-bedroom duplex with BQ (280 m²), including fence, gate and contingency.

How much does a 3-bedroom bungalow cost to build in Ibeju-Lekki?

About ₦54.1M with standard finishing.

What is the building cost per square metre in Ibeju-Lekki?

Around ₦385,776 per m² for a standard 5-bedroom duplex.

What do new houses sell for in Ibeju-Lekki?

About ₦525,000 per m², with gross rental yields around 4.3%.

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Read more: cost of building a house in Lagos · 5-bedroom duplex costs across Nigeria

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