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Lagos · report

New homes in Lagos

7.0% more homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
230
Per 1,000 residents
5.6

Homes licensed for construction in Lagos

Dwellings in new buildings licensed over the previous 12 months, at each month.

  • Lagos
  • Ten-year average
Show the numbers
PeriodLagos
Aug 2026230
Jul 2026231
Jun 2026235
May 2026283
Apr 2026283
Mar 2026282
Feb 2026280
Jan 2026280
Dec 2025210
Nov 2025210
Oct 2025144
Sep 2025134
Aug 2025131
Jul 2025133
Jun 2025136
May 202589
Apr 202591
Mar 2025119
Feb 2025162
Jan 2025160
Dec 2024168
Nov 2024173
Oct 2024147
Sep 2024142
Aug 2024195
Jul 2024228
Jun 2024226
May 2024236
Apr 2024236
Mar 2024205
Feb 2024191
Jan 2024230
Dec 2023233
Nov 2023261
Oct 2023296
Sep 2023328
Aug 2023295
Jul 2023260
Jun 2023258
May 2023262
Apr 2023263
Mar 2023262
Feb 2023241
Jan 2023205
Dec 2022216
Nov 2022193
Oct 2022154
Sep 2022133
Aug 2022115
Jul 2022130
Jun 2022143
May 2022134
Apr 2022223
Mar 2022226
Feb 2022277
Jan 2022279
Dec 2021283
Nov 2021277
Oct 2021290
Jul 2021327
Apr 2021228
Jan 2021175
Oct 2020135
Sep 202069
Aug 202081
Jul 2020101
Jun 202097
May 2020120
Apr 2020119
Mar 2020125
Feb 2020115
Jan 2020171
Dec 2019182
Nov 2019180
Oct 2019184
Sep 2019218
Aug 2019210
Jul 2019200
Jun 2019207
May 2019211
Apr 2019225
Mar 2019229
Feb 2019229
Jan 2019216
Dec 2018256
Nov 2018282
Oct 2018282
Sep 2018252
Aug 2018262
Jul 2018251
Jun 2018238
May 2018237
Apr 2018230
Mar 2018233
Feb 2018232
Jan 2018187
Dec 2017146
Nov 2017136
Oct 2017145
Sep 2017148
Aug 2017279
Jul 2017324
Jun 2017322
May 2017313
Apr 2017306
Mar 2017298
Feb 2017299
Jan 2017301
Dec 2016288
Nov 2016324
Oct 2016350
Sep 2016353
Aug 2016228
Jul 2016181
Jun 2016195
May 2016181
Apr 2016183
Mar 2016187
Feb 2016184
Jan 2016180
Dec 2015181
Nov 2015138
Oct 201599
Sep 201590
Aug 2015129
Jul 2015126
Jun 2015112
May 2015109
Apr 2015105
Mar 2015103
Feb 2015102
Jan 2015101
Dec 2014100
Nov 201491
Oct 201491
Sep 201487
Aug 201427
Jul 201442
Jun 201441
May 201442
Apr 201442
Mar 201436
Feb 201436
Jan 201437
Dec 201334
Nov 201335
Oct 201333
Sep 201334
Aug 201332
Jul 201316
Jun 201320
May 201321
Apr 201322
Mar 201321
Feb 201324
Jan 201325
Dec 201227
Nov 201227
Oct 201227
Sep 201228
Aug 201227
Jul 201227
Jun 201225
May 201222
Apr 201219
Mar 201219
Feb 201218
Jan 201232
Dec 201130
Nov 201130
Oct 201130
Sep 201127
Aug 201126

Homes finished and licensed each year in Lagos

Homes completed in new buildings (columns) against homes licensed for construction (line), each year since 2011. INE.

  • Homes finished
  • Homes licensed
Show the numbers
YearHomes finishedHomes licensed
2025254210
2024272168
2023112233
202269216
2021134283
2020129150
2019218182
2018139256
2017126146
201686288
201558181
201431100
20134534
201211027
20114630
Homes finished per 1,000 residents, 2025
6.2

Who built the homes finished in Lagos

Who built the homes completed each year, as a share of that year. INE, since 2011.

  • Cooperatives and others
  • Public bodies
  • Private individuals
  • Companies
Show the numbers
YearCompaniesPrivate individualsPublic bodiesCooperatives and othersTotal
202591.7%8.3%0.0%0.0%254
202493.0%6.6%0.4%0.0%272
202371.4%27.7%0.9%0.0%112
202268.1%29.0%0.0%2.9%69
202177.6%22.4%0.0%0.0%134
202084.5%15.5%0.0%0.0%129
201984.4%14.7%0.9%0.0%218
201884.9%13.7%1.4%0.0%139
201787.3%12.7%0.0%0.0%126
201675.6%24.4%0.0%0.0%86
201579.3%20.7%0.0%0.0%58
201471.0%29.0%0.0%0.0%31
201368.9%31.1%0.0%0.0%45
201281.8%18.2%0.0%0.0%110
201154.3%45.7%0.0%0.0%46

Homes finished in Lagos, by number of bedrooms

Homes completed in new buildings by number of bedrooms, as a share of each year. INE.

  • Four or more
  • Three bedrooms
  • Two bedrooms
  • Studio or one bedroom
Show the numbers
YearStudio or one bedroomTwo bedroomsThree bedroomsFour or moreTotal
20256.7%55.9%30.7%6.7%254
202411.0%41.5%39.0%8.5%272
20233.6%43.8%39.3%13.4%112
20224.3%44.9%24.6%26.1%69
202110.4%28.4%56.7%4.5%134
20203.1%48.1%38.0%10.9%129
201912.8%40.4%38.5%8.3%218
20180.7%61.9%26.6%10.8%139
201726.2%32.5%30.2%11.1%126
20163.5%57.0%29.1%10.5%86
201524.1%50.0%17.2%8.6%58
20149.7%67.7%16.1%6.5%31
201355.6%28.9%6.7%8.9%45
20129.1%72.7%12.7%5.5%110
20116.5%19.6%45.7%28.3%46

A licence is permission to build, not a finished home: most are completed one to three years later, and some never are. INE publishes licensing three months at a time, so four windows make a year.

Other reports for Lagos

Next 12 months

Asking prices have an 80% chance of landing between €4,596/m² and €5,143/m² by September 2027.

Expected, September 2027
€4,870/m²
Chance of a rise
75%

Affordability

At the bank valuation, a 90 m² home costs €285,300. With 10% down and a 30-year mortgage, the payment is €1,083 a month. Banco de Portugal caps it at 50% of a household's net income.

Payment, two incomes
50%
Payment, one income
99%

Buy or rent

Renting a 90 m² home costs less each month than owning it. Owning counts interest, running costs and the return the deposit could earn, at the median sale price. Repaying the loan is saving, so it is left out.

Rent per month
€1,149
Owning per month
€1,247

Asking against valuation

Sellers ask 49.2% more than banks value homes at. A year ago the gap was +49.7%.

Gap today
+49.2%
Change in a year
−0.6 pp

Foreign buyers

Over the last 12 months, buyers domiciled abroad paid 20.0% more per m² than buyers living in Portugal.

Abroad against residents
+20.0%

Past cycles

Bank valuations have fallen by 3% or more 11 times since 2014. The deepest began in August 2014.

Deepest fall
−17.2%
Recovery from the low
5 months

People and new homes

In 2025 the population fell by 151 while 254 homes were finished.

Homes finished, 2025
254
Population change, 2025
−151

Empty homes

10.3% of the 27,933 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
10.3%
Empty homes
2,873

Renovation

In 2025, 16% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.

Work on existing buildings, 2025
16%
Reconstructions per 100 new buildings
2.1

Public housing works

Public bodies signed €21.8M of housing works here in 2025, and €27.6M since 2012.

Signed in 2025
€21.8M
Per resident, 2025
€534

Data: INE, ECB and others · updated October 27, 2026

Asking prices and bank valuations are not sale prices. This is a description of public data, not financial advice.

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