Building a two-storey six-unit flat in Nigeria—where each unit is a 3-bedroom flat—is a step up from constructing a single home. It’s a multi-unit residential project with big potential, especially in Lagos, Nigeria’s bustling economic hub. If you’re a property investor or developer eyeing this in 2025, you’re probably wondering: How much will this cost me? With construction costs on the rise, estimating a multi-storey building can feel overwhelming. Fear not—we’ve done the heavy lifting. In this article, we’ll break down the costs for a two-storey six-unit flat in Lagos using 2025 pricing, provide a detailed cost breakdown in Naira, and highlight why this is a golden investment opportunity given Lagos’ housing crisis. Let’s get started!
Why Lagos? A Real Estate Hotspot with a Housing Gap
Lagos, home to over 20 million people, is Nigeria’s real estate powerhouse. The city’s skyline is expanding, but so is its housing deficit—estimated at 2 to 3 million units. This gap fuels massive demand for residential properties, especially multi-unit flats, making Lagos a prime spot for developers and investors. However, this demand also drives up costs, influenced by land prices, labor rates, and material availability. That’s what makes this market both challenging and rewarding.
What’s the Total Cost? The Numbers at a Glance
For a two-storey six-unit flat in Lagos in 2025, with each unit being a 3-bedroom flat of 100 square meters, the total construction cost is approximately 74 million Naira. This assumes a total built-up area of 600 square meters (six units × 100 square meters, spread across two floors of 300 square meters each). Breaking it down, the cost per unit is about 12.33 million Naira—a bargain compared to building a standalone 3-bedroom flat, thanks to shared construction elements like the foundation and roof.
Here’s the quick cost breakdown:
- Total Cost: ~74,000,000 Naira for the whole building
- Cost per Unit: ~12,333,333 Naira per 3-bedroom flat
- Cost per Square Meter: ~123,333 Naira across 600 square meters
This is a mid-range estimate for Lagos, based on standard finishes and an average location. Costs can shift depending on where you build, the materials you choose, and the design complexity—details we’ll explore below.
Cost Breakdown: Where Your Investment Goes
Building a six-unit flat involves multiple components, each eating into your budget. Here’s how the costs stack up for a 600 square meter building in Lagos, totaling roughly 74 million Naira:
| Component | Percentage of Total Cost | Cost (NGN) | Notes |
|---|---|---|---|
| Foundation | ~18% | 13,050,000 | For 300 sqm ground floor, supporting two storeys |
| Structure | ~32% | 23,490,000 | Walls, columns, beams, slabs for 600 sqm |
| Roofing | ~6% | 4,350,000 | For 300 sqm top floor |
| Electrical and Plumbing | ~12% | 8,700,000 | Systems for six units |
| Finishing | ~24% | 17,400,000 | Flooring, painting for six units |
| Other Costs | ~9% | 6,699,000 | Design, permits for the project |
| Total | 100% | 73,689,000 | Rounded to ~74,000,000 Naira |
- Foundation (~18%): Covers excavation and concrete for the 300 square meter base, built to hold two storeys. It’s pricier than a single-storey foundation due to the added load.
- Structure (~32%): Includes walls, columns, beams, and slabs for both floors. Shared walls between units trim costs slightly.
- Roofing (~6%): Covers the 300 square meter top floor, with costs varying by material (e.g., tiles vs. aluminum).
- Electrical and Plumbing (~12%): Wiring, pipes, and fixtures for all six units—more complex than a single flat.
- Finishing (~24%): Flooring, painting, and cabinetry across six units. Premium finishes can bump this up.
- Other Costs (~9%): Design fees and permits, with some savings from economies of scale.
Building six units together saves costs compared to six standalone flats, which would run about 87 million Naira (6 × 14.5 million Naira). That’s the beauty of multi-unit projects.
Size Adjustments: Scaling Your Vision
If your six-unit flat isn’t exactly 600 square meters—maybe each unit is 90 or 120 square meters—you can tweak the cost using 123,333 Naira per square meter:
Total Cost = Total Size (sqm) × 123,333 NGN
Examples:
- 540 sqm (6 × 90 sqm): 540 × 123,333 ≈ 66,600,000 NGN
- 600 sqm (6 × 100 sqm): 600 × 123,333 ≈ 74,000,000 NGN
- 720 sqm (6 × 120 sqm): 720 × 123,333 ≈ 88,800,000 NGN
Keep in mind: Costs like permits or foundation don’t scale perfectly, so for pinpoint accuracy, adjust each component individually. This formula gives you a solid starting point.
Location Impact: Where You Build Matters
In Lagos, location can make or break your budget:
- Prime Areas (Victoria Island, Lekki, Ikoyi): Add a 20-30% premium for higher labor and material costs. Total could climb to ~92,500,000 NGN (+25%).
- Mid-tier Areas (Surulere, Yaba, Ikeja): Costs hover around our 74 million Naira baseline.
- Outskirts (Ikorodu, Badagry): Save up to 20%, bringing costs down to ~59,200,000 NGN (-20%).
For a 600 square meter flat:
- Victoria Island: 74,000,000 NGN + 25% = 92,500,000 NGN
- Surulere: 74,000,000 NGN
- Ikorodu: 74,000,000 NGN – 20% = 59,200,000 NGN
Choosing the right spot can swing your costs by millions—and your returns, too.
Budget-Saving Tips for Developers
Keep your project lean with these strategies:
- Shop Around: Get quotes from multiple contractors.
- Go Local: Use quality local materials instead of pricey imports.
- Phase It: Build the structure first, finish units as cash flows.
- Hire a Pro: A quantity surveyor can spot savings and avoid overruns.
- Time Purchases: Buy materials when prices dip.
Every Naira saved boosts your ROI.
Why This Is a Stellar Investment
Lagos’ housing deficit—over 2 million units—creates a goldmine for investors. By building a two-storey six-unit flat, you’re not just erecting a structure; you’re helping solve a pressing need while reaping financial rewards. Real estate in Lagos, especially in prime areas, has a strong track record of appreciation. Rental yields here outpace many Nigerian cities, and a multi-unit property amplifies your gains with:
- Multiple Income Streams: Six units mean six rents or sales.
- Economies of Scale: Lower per-unit costs in construction and upkeep.
- High Demand: Tenants are plentiful in a housing-starved market.
Whether you rent out all six units or sell them individually, this project positions you to profit while addressing Lagos’ housing crunch.
The Bottom Line: Build for Profit and Purpose
In 2025, a two-storey six-unit flat in Lagos costs around 74 million Naira for 600 square meters (~12.33 million Naira per unit). In prime areas, expect up to 92 million Naira; on the outskirts, as low as 59 million. With careful planning, you can tailor this to your goals—whether personal use or investment.
Ready to capitalize on Lagos’ housing boom? Contact a trusted construction firm or real estate consultant for a custom quote and turn this opportunity into action!
Note: Costs exclude land purchase and assume labor is part of construction expenses, per industry norms.
