Nigeria’s real estate market projected to hit $40bn by 2030 — Report

By Firdaus Jibril

Nigeria’s real estate market is projected to grow from $32.2 billion in 2025 to $40 billion by 2030, according to a report by Next Move Strategy Consulting.

The market was valued at $29.2 billion in 2024 and is expected to expand at a compound annual growth rate of 4.5 per cent between 2025 and 2030, the consulting firm said.

According to the report, rapid urbanisation and population growth are key drivers of the projected expansion, with rising demand for residential, commercial and industrial properties.

Next Move Strategy Consulting identified Lagos, Abuja and Port Harcourt as key real estate hubs for high-rise residential, office and mixed-use developments.

The report also noted that logistics and warehousing activities are expanding alongside e-commerce and trade, creating additional demand for real estate.

Government initiatives focused on affordable housing, infrastructure development and foreign investment were also identified as factors supporting market growth.

However, the report identified regulatory complexities, economic volatility and limited financing options as challenges facing the sector.

It said regulatory hurdles, land ownership disputes and inconsistent planning policies can delay property development, while inadequate infrastructure, including electricity and water supply, can increase development costs.

Next Move Strategy Consulting further identified affordable housing and industrial parks as growth opportunities for the Nigerian real estate market.

According to the report, government initiatives promoting low-cost housing could help address housing demand, while industrial zones could support manufacturing, logistics and e-commerce activities.

The firm’s latest edition of the Nigeria Real Estate Market report was published in June 2026 and covers the 2025–2030 forecast period.