LAGOS – Abuja’s property market has entered 2026 with remarkable force, posting its strongest first-quarter performance on record and signaling renewed investor confidence despite mounting economic pressures.
In a standout performance, March 2026 alone saw 9,465 residential transactions—an impressive 83.4% increase compared to the same period last year. This surge pushed total first-quarter transactions to an unprecedented 29,009 deals, reinforcing Abuja’s reputation as one of Africa’s fastest-growing real estate markets.
Data from industry sources indicates widespread growth across all segments. Off-plan property sales jumped by 94.6%, while transactions in the secondary market rose by 76.1%.
The figures reflect strong demand from both new buyers and existing investors, even as financing costs continue to rise and payment structures tighten.
Speaking on the remarkable success, an investment banker and real estate expert, Kúnlé Ìlòrí-Diamond, noted that the anticipated market slowdown has yet to occur.
“The total number of transactions in March reached 9,465, up significantly from 5,598 in February. This marks the strongest first quarter ever recorded in Abuja’s residential market,” he said.
He continued: “While property prices and rents continue to rise, we are beginning to see a moderation in growth rates, particularly within the duplex segment.”
According to him, the rental market has also experienced a notable upswing, offering increasingly attractive returns for investors.
He explained that, after a relatively subdued third quarter, average apartment rents surged by 14% in the fourth quarter of 2025—the highest quarterly increase since 2017.
He attributed this growth to Abuja’s expanding appeal as both a business and lifestyle destination, supported by competitive property pricing and improved housing options.
Importantly, he said, investment opportunities are no longer limited to traditional high-end locations.
He stressed that, emerging districts such as Kyami, Kuje, Karsana, and Appo-Wasa are gaining attention, presenting viable alternatives beyond the city’s core.
According to Diamond Ilori, CEO of Jacob & Co Developments, the strong first-quarter performance sets a positive trajectory for the rest of the year.
“After a challenging period, apartment prices have returned to double-digit growth, while duplexes continue to lead with over 20% price appreciation,” he said.
“The market is expected to sustain this momentum, particularly as it attracts growing interest from foreign investors, especially in the luxury housing segment.
“Price growth remains strong across property types. As of March 2026, average property prices rose by 11.3% year-on-year.
“Duplexes led the market with a 32% surge, maintaining their dominance. Average prices are now estimated at ₦11,118 per square foot for apartments and ₦11,267 per square foot for duplexes.
“Premium districts continue to command top valuations. Abuja City Centre leads the apartment market, while Maitama and Katampe Extension (Usuma) dominate the off-plan segment.
“Rental values have also climbed significantly, rising 33.1% year-on-year. Average duplex rents reached ₦238,441, while prime locations such as Jahi, Gwarimpa, Wuse, Guzape, and Apo Legislative Quarters recorded some of the highest apartment rents. Maitama remains the most expensive rental district, with average asking rents approaching ₦801,940.”
