Calabar's property prices reflect its status as one of Nigeria's best-organised cities, with a premium for well-located GRA properties and consistent demand from government, tourism, and Free Trade Zone employment.
GRA Calabar
Premier residential. 3-bed detached: ₦40m–₦80m. 3-bed semi-detached: ₦30m–₦60m. 2-bed flat: ₦15m–₦30m. Annual rent (3-bed): ₦700k–₦1.4m. Carnival-season short-let: ₦5k–₦15k/night. Rental yield: 7–9%.
State Housing Estate
Government-developed. 3-bed homes: ₦20m–₦50m. Annual rent: ₦500k–₦1m. Rental yield: 8–10%. Consistent infrastructure and services. Good long-term hold investment.
Bogobiri
Established mid-range. 3-bed homes: ₦15m–₦38m. 2-bed flats: ₦10m–₦22m. Annual rent (2-bed): ₦300k–₦650k. Rental yield: 9–12%. Active commercial strip and market access.
Federal Housing Estate
Federal government scheme properties. 3-bed: ₦18m–₦42m. Annual rent (3-bed): ₦450k–₦900k. Consistent infrastructure. Regular secondary market transactions.
Marian Road (commercial)
Calabar's main commercial corridor. Shops: ₦400k–₦2m/yr rent. Office space: ₦600k–₦2.5m/yr. Hotel occupancy tied to Carnival season — serviced apartments near Marian Road have the highest short-let potential in Calabar.