Surulere Property Market Trends 2025 (Prices, Rent and Investment Guide)

As someone who has brokered deals in Surulere for years… 

I’ve watched its transition from being primarily occupied by civil servants in the 1990s to becoming a magnet for young professionals and short-term landlords.

I’ve written this short guide based on a combination of thorough recent research and my own experience in the Surulere real estate market. 

You will learn about:

• Property demand drivers in this part of Lagos
• The newest areas in Surulere for high ROI properties
• What investment appraisal looks like presently

With these market trend details, you can make an informed decision about whether to buy, rent, or invest in Surulere.

Average House Prices Have Increased By Over 20% In Less Than One Year

According to listing data, the average price of houses for sale in Surulere in September 2025 is approximately ₦195,290,000. 

As of January 2025, the average was approximately ₦163,360,000. 

This means that there has been a roughly 20% increase in less than a year.

If you extrapolate that trend over the last decade, you will realise that the price of properties in Surulere has been increasing steadily. 

For example, according to The BuyLetLive report titled ‘Nigeria Property Price Index Report 2024:

• 2024: Short-let apartments in Surulere saw an appreciation rate of approximately 30%.
• Over five years (2019-2024): Rental prices in Surulere rose by 133%, indicating substantial market appreciation over an extended period

Demand Trends: Who’s Renting/Buying And Why

So far in 2025, based on anecdotal evidence, property demand trends in Surulere can be grouped into three broad categories. 

*Based on anecdotal evidence and property deals brokered in RentHouseSurulere, H1 2025. 

Surulere’s connectivity to major hubs, such as Yaba, Ikeja, Victoria Island, and the Lagos Island business districts, makes it an attractive option for working professionals. 

Many buyers are now families upgrading within Lagos Mainland.

However, a notable and growing segment is landlords converting apartments into short-lets (for business travellers) and student housing (given the presence of tech hubs, schools, and tutorial centres nearby).

This creates higher turnover but potentially higher yields compared to long-term rentals.

Investors And Developers Command More Demand In the Surulere Property Market Right Now

Developers are actively involved in the “gentrification” of certain Surulere micro-areas, where terraces, duplexes, and serviced units are replacing older buildings. 

Investors with mid-to-long-term horizons (3-5 years) are viewing Surulere as a “value entry” relative to the Island/Lekki zones.

What this trend means: 

1. If you’re buying a property to live in, target locations with good transportation links, amenities, and quality schools.
2. If you’re buying to rent or short-let: focus on compact units (1-2-bed or mini-flats), near to amenities or transport, with flexibility for servicing.
3. If you’re buying for capital appreciation, look for sub-areas undergoing infrastructure upgrade or redevelopment (see next section).

“Neighbourhood” Leads On Factors Determining Property Value

Surulere is a mix of high-end, middle-class, and budget-friendly neighbourhoods, so property prices vary widely.

Bode Thomas and Adeniran Ogunsanya have better infrastructure and security.

Itire and Lawanson are more residential but can be crowded and noisy.

Ojuelegba is central but can be rowdy due to traffic and commercial activities.

For example:

• A 4-bedroom duplex in Bode Thomas or Adeniran Ogunsanya (prime areas with good roads, modern amenities, and easy access to businesses) could cost N300 million or more.
• Meanwhile, a similar 4-bedroom duplex in Itire or Aguda, where roads may not be as developed and commercial activity is lower, might cost between N180 million and N250 million.

Even within the same area, properties on major roads (good for businesses) often cost more than those on residential streets.

The Lagos State Government has focused heavily on improving roads across Surulere. Major roads, such as Babs Animashaun, Akerele, Ogunlana Drive, and Randle Avenue, have been resurfaced or expanded.

There’s also better drainage and traffic control around Stadium Road, Ojuelegba, and Lawanson.

However, factors that actually drive cost are inflation, increased demand, the rise of gated estates, and stable rental returns.

ALSO READ: 6 Factors Driving the Values of Properties in Surulere this Year

What Now Stands as Property Valuation Yardsticks?

When you’re out viewing properties in Surulere, these are the factors that now take the front seat for valuation: 

1. Title/Ownership: Confirm legal ownership, conduct a survey, and obtain necessary approvals.
2. Location and access: Is it within walking distance to a major road/transport route? How’s traffic at peak hours?
3. Infrastructure: Factors such as parking, power backup, security, and water supply contribute significantly to property values these days. 
4. Tenant demand: Neighbouring vacant properties, occupancy levels, furnishings, and even turnover are all telltale signs of tenant demand levels.
5. Exit potential: Is the unit in a micro-market attractive to future buyers? Is developer activity nearby?

Our View: The Best Time to Invest in Surulere is Now

If you’re planning to buy now, don’t wait too long.

The longer inflation stays high, the more expensive properties will become. This is not just due to demand, but also because of the cost of replacement.

This makes early investment smarter, especially if you intend to renovate and resell or rent out the property.

For someone willing to act now, securing a 3-bed or 2-bed unit in a good part of Surulere for between ₦120 to ₦180 million (depending on condition) and holding for 3–5 years should yield both occupancy and appreciation. 

For students seeking short-let demand, a well-furnished 1–2-bed unit near transport/amenities offers an attractive niche.

Our final recommendation is that you don’t expect Surulere to deliver Island-premium prices; instead, expect it to offer far better value than some of the more expensive Lagos zones. 

Of course, this depends on how well you can pick the right micro-market and manage the property aggressively.

Find High ROI Properties in Surulere with RentHouseSurulere

At RentHouseSurulere, we’re plugged into the community and know how to find those hidden gems. Some of the hot deals are on:

• Apartments/Flats: Includes self-contained units, mini-flats (1-bedroom), 2-bedroom, and 3-bedroom flats.
• Duplexes: Semi-detached and fully detached duplexes, often for families or high-end buyers.
• Bungalows: Single-story house.
• Detached houses: Standalone houses with private compounds.
• Semi-detached houses: Houses sharing a wall with another unit.
• Office Spaces: For Businesses, Startups, and Corporate Offices.
• Shops and retail spaces: Shop units for trading, boutiques, supermarkets, and salons, especially around markets in Surulere.
• Bare land: Bought for future development or resale.
• Serviced plots:  Land in gated estates with infrastructure like roads, drainage, and electricity.

Once you contact us on WhatsApp with your specs and preferences, you’ll be surprised at how fast we provide you with video, pictures, and price options based on your request (because we have them ready to go).