Housing Deficit Rises 15% in First Half of 2025
A report from BusinessDay indicates the housing shortfall in Lagos grew by 15% in the first half
of 2025. This increase has placed additional pressure on the real estate market, leading to a
12% year-over-year surge in rental and property prices.
Currently, rental apartments make up over 80% of the market. For instance, one-bedroom
flats in Lekki-Ajah now average ₦2.2 million annually, nearly double the monthly income of an
average worker.
Experts say the lack of affordable housing and accessible mortgages continues to squeeze
middle-income earners.
Major Infrastructure Projects Gain Momentum
Infrastructure developments across Lagos have picked up
speed in mid-2025:
Green Line Metro Rail: The 68 km line (Marina to Lekki Free Trade Zone), fully funded by
Lagos State, is underway with China Harbour Engineering Company as contractor. Daily
ridership is projected at 500,000.
Fourth Mainland Bridge: Construction of the 38 km dual carriageway kicked off in 2025. The
project, awarded to the CCECC-CRCCIG consortium, is set to ease congestion and unlock new
real estate corridors.
Lagos-Calabar Coastal Highway: Phase 1 of the ₦15 trillion federal project (30 km stretch
from Abule-Egba to Eleko) was commissioned in May 2025, enhancing inter-state connectivity
and boosting the value of surrounding land.
Lagos Arena & Mega Cities Set to Transform Landscape
Construction continues on Lagos Arena, a 12,000-capacity entertainment and sports
complex in Lekki. The arena, financed by the Lagos State Government, NSIA, and private
investors, is set for completion by December 2025.
Meanwhile, Eko Atlantic City and Gracefield Island are expanding into self-sustaining
mixed-use communities, attracting local and foreign investors.
These cities are more than housing, they are economic zones,said an urban development
analyst.
