# Nigeria real estate made up 13.10% of Q1 GDP, report says

> Knight Frank’s H1 Lagos update reported real-estate and rental figures; it also cited Q1 GDP and construction growth.

- **Source date:** 2026-10-20
- **Original source:** [Punch Newspapers](https://punchng.com/real-estate-sector-contributes-13-to-gdp/)
- **Reading time:** 1 min read
- **Language:** English
- **URL:** https://voltformer.com/news/ng-real-estate-q1-gdp-h1-market-update-20261020
- **Markdown:** https://voltformer.com/news/ng-real-estate-q1-gdp-h1-market-update-20261020.md

Nigeria’s real-estate sector accounted for 13.10% of real GDP in Q1 2026, while construction grew 6.38% year on year, according to the report. Knight Frank’s H1 2026 Lagos Market Update was released on October 19.

The report said prime rents in Ikoyi, Victoria Island, Banana Island and Lekki Phase 1 had more than doubled since 2023. Lagos Grade A office rents were about US\$55 per square metre per month; Grade A industrial rents at Alaro City and Lagos Free Zone were US\$4–6.5 per square metre monthly. These are reported market figures, not transaction volumes.

[Punch Newspapers](https://punchng.com/real-estate-sector-contributes-13-to-gdp/)

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