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Cost of building a house in Ikeja, Lagos (2026)

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

5-bedroom duplex + BQ, standard finish
₦109,183,566
280 m² · ₦389,941/m² · includes fence, gate & contingency
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Building costs in Ikeja by house type

House typeBasicStandardLuxury
3-bedroom bungalow₦42.5M₦54.7M₦90.2M
4-bedroom bungalow + BQ₦65.2M₦79.4M₦126.8M
4-bedroom duplex + BQ₦81.8M₦99.7M₦155.5M
5-bedroom duplex + BQ₦89.1M₦109.2M₦170.5M
6-bedroom duplex + BQ₦96.2M₦118.5M₦185.4M
block of 6 two-bedroom flats₦141.7M₦199.1M₦361.5M

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

ElementShareCost
Foundation7.7%₦8,365,076
Structure22.7%₦24,803,057
Finishes25.9%₦28,257,570
Services11.6%₦12,712,520
External Works21.2%₦23,177,768
Prelims & Contingency10.9%₦11,867,575
Total100%₦109,183,566

Property market in Ikeja

New-build sale price₦1,560,000 / m²
Gross rental yield5.9%
Typical capital growth12% / year
DemandHigh
Average time to sell5 months
Typical land price₦1,000,000 / m² (≈ ₦648.0M per plot)
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Frequently asked questions

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

About ₦109.2M 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 Ikeja?

About ₦54.7M with standard finishing.

What is the building cost per square metre in Ikeja?

Around ₦389,941 per m² for a standard 5-bedroom duplex.

What do new houses sell for in Ikeja?

About ₦1,560,000 per m², with gross rental yields around 5.9%.

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

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