Guzape Property Prices: What a 5-Bedroom Home Asked Two Years Ago and Now
Two years ago we put a five-bedroom fully detached duplex in an estate in Guzape on the market at an asking price of about ₦580 million. It has since been sold; we do not publish what it sold for. Today we are asking ₦900 million for a five-bedroom fully detached duplex in Guzape. Here is what that comparison does and does not tell you.
Then: about ₦580m asking
A 5-bedroom fully detached duplex in an estate in Guzape, two years ago.
Now: ₦900m asking
A 5-bedroom fully detached duplex in Guzape, 5% agency fee applies.
Asking, not selling
These are asking prices. Our sale price is confidential.
Rent: ₦20m to ₦25m a year
What similar homes commonly let for, often with two years up front.
Asking price versus sale price
Everything on this page is an asking price. Our earlier Guzape home was sold, but what it sold for is confidential and we do not publish it. What we can honestly share is what we asked then and what we ask now for a comparable home.
What has changed
The naira has weakened against the dollar, and some properties are priced in dollars. That is part of why prices have risen, but it is not the whole story: in our experience prices have also risen year on year.
The same pattern shows up in Katampe Extension. Five-bedroom fully detached duplexes in mini estates were selling at around ₦700 million last year, and similar finished homes now ask around ₦900 million to ₦1 billion.
The rent-and-hold case
In our experience a five-bedroom fully detached home like this lets for around ₦20 million to ₦25 million a year, and it is common practice to ask for two years up front. At a ₦900 million asking price, ₦20 million to ₦25 million a year is a gross rent of roughly 2% to 3% before costs, so most buyers weigh rent alongside how well the property holds its value.
Buyers often treat a home like this as a store of value: buy it, let it, and decide in a couple of years whether to keep it or sell. Past asking prices do not guarantee future prices, so verify the title and the numbers for the specific property you are considering.
Before you buy in Guzape
Have your own property lawyer confirm the C of O, the governor's consent, the AGIS and court searches and the seller's identity, and have a surveyor check the plot. Our cost guide explains each fee and how long it takes.
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