First things first;
It’s 2025. In the real estate market, “cheap” has taken on a new definition.
It is currently nearly impossible to find a decent property for under ₦100 million in Surulere.
However, if you’re looking to spend around ₦200 million, there are areas in town where you have a better chance at finding deals of great value for money at that budget.
That’s what this post is all about.
Key Takeaways
- You can easily find miniflats and 2-3-bedroom apartments within a ₦50-₦130 million budget.
- Location matters too. Areas like Itire, Bode Thomas, Eric Moore, and Ayilara have affordable offers.
- It’s nearly impossible to find a decent 4-bedroom duplex house for sale under ₦200 million in Surulere. Affordable options typically start at ₦240 million or more.
What You Should Know
Based on our recent inspections and the average listing price, the average price for houses in Surulere is around ₦195.3 million (as of September 2025).
For 4-bedroom houses, the average asking price has crept higher, to around ₦260 million and above in many available offers.
So if your budget is ₦200 million or less, you’re already looking at property at or slightly below the current average, which means you’ll need to be strategic.
It all boils down to which part of Surulere you consider for this.
Best Neighbourhoods in Surulere to Find Houses Under ₦200m
Here are some of the most promising areas and what you should expect:
1. Aguda / Ijesha / Ayetoro
These are inner-Surulere neighbourhoods with good connectivity and more modest house stock.
However, expect smaller land size, older structures, maybe semi-finished rather than ultra-luxury. But surely good value.
A good example is this standard 3-bedroom apartment for sale in Aguda going for ₦80 million:
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2. Itire / Iponri / Lawanson
You can find mid-level zones with many older duplexes or terraced houses.
It’s possible to find a 4-bedroom terraced duplex in Surulere listed for ₦190 million in these areas, but it is usually rushed.
The closest we’ve seen recently to that figure was this 3-bedroom fully detached house off Adelabu going for ₦260 million:
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If you’re considering these areas for affordable houses to buy in Surulere, expect slightly more foot traffic, perhaps less exclusive compounds, but primarily residential and accessible.
3. Off Adeniran Ogunsanya / Bode Thomas (but with caution)
These are high-demand streets in Surulere; many listings start above ₦200 million.
For example, the average house price in Adeniran Ogunsanya is around ₦297 million.
The closest we’ve seen recently that’s close to this figure is a 4-bedroom terrace duplex off Eric Moore via Bode Thomas:
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If you find something under ₦200 million in these high-brow areas, it could be a good deal. But check the condition, title, and location carefully.
Many Miniflats, 2-3 bedroom, For Sale Under N50m-N130m Budget
If the type of house you’re looking to buy is not a detached option, then it’s easy to find many offers below your budget.
This means a block of flats with multiple units, especially if you’re looking for investment rather than just self-occupancy. Example: block of 4 units 3-bed
Some of the examples we’ve listed cut across major areas in Surulere, including:
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The Bottom Line
Buying a house under ₦200 million in Surulere is realistic, but it may mean you need to compromise on size, finishes, the exact neighbourhood, or choose properties that need some work.
With such a budget, you’re below average in a market where average is close to that number, so savings are possible.
It also depends on the quality of the real estate agent you work with.
Buy an Affordable House in Surulere with RentHouseSurulere
If you’re looking to buy any property in Surulere, the easiest and fastest way is to use the ‘Request Property’ feature on RentHouseSurulere.
- Proudly Registered: We are proud to be a fully registered and certified real estate agency with Lagos State Real Estate Regulatory Authority (LASRERA). This means we operate legally, transparently, and in full compliance with Lagos State’s real estate laws.
- Zero Inspection Fees: Unlike traditional agents, who may charge ₦5,000 to ₦10,000 per property inspection (often with no guarantee of quality), we offer three free inspections.
- Transparent Process: You’ll always know how much property and agency fees cost, all of this before inspection. We deal directly with sellers and landlords, so there are no surprises. We clearly present the landlord’s terms, and you receive a receipt for each payment.
- Verified Listings: We only upload listings that we’ve personally inspected. We update our listings regularly so you don’t waste time chasing unavailable houses.
- It’s Fast: If you’re in a hurry or prefer chatting or calling, simply message us on WhatsApp.
We’ll reply faster than you expect, usually with ready-to-go apartment options, photos, videos, and even personalised advice on which areas in Surulere are most suitable for you, based on your lifestyle and budget.
