Calculate gross and net yield on an investment property to see if the numbers stack up.
Annual rental income: ₦2,400,000
Management fees, repairs, insurance, service charge
Yield Summary
Gross Rental Yield
9.60%
Income vs Costs
Strong yield for Nigeria
A gross rental yield of 6-10% is generally considered good in Nigerian cities. High-demand areas of Lagos (Lekki, Victoria Island, Ikoyi) often yield 5-8% gross, while emerging areas can yield 8-12%. Net yields after expenses are typically 2-5% lower.
Include: property management fees (5-10% of rent), maintenance and repairs, insurance, service charges, ground rent, void periods (budget for 1-2 months of vacancy per year), and any letting agent fees.
Lagos prime areas (VI, Ikoyi, Lekki) tend to have lower yields (5-7%) because property prices are very high relative to rent. Abuja and emerging Lagos suburbs (Ajah, Sangotedo) can offer higher yields (8-12%) due to lower entry prices.
Both matter. High-yield properties in secondary locations offer better cash flow but may appreciate more slowly. Prime Lagos and Abuja properties often offer lower yields but stronger long-term capital growth. Consider your investment horizon and need for income.
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