You’ve found the perfect property. The location is strategic, the design is modern, and the asking price of N100 million fits exactly within your savings. You are ready to transfer the money and collect your keys.
But wait.
Before you send that transfer, you need to ask the question that catches 70% of first-time buyers off guard: “What is the TOTAL package price?”
In the Nigerian real estate market, the “Purchase Price” (the number on the flyer) is usually just the cost of the asset itself. It does not cover the cost of transferring that asset to you. When you add up the professional fees, statutory taxes, and estate levies, the final figure can be 15% to 20% higher than the listed price.
If you haven’t budgeted for this, your dream purchase can quickly turn into a financial crisis.
At MiraEmma Properties, we believe in radical transparency. We want you to buy with your eyes wide open. Here is a comprehensive breakdown of the “hidden” fees you must prepare for in 2026.
1. Professional Fees: The “Team” Cost
You cannot buy property safely alone. You need professionals to verify, negotiate, and document the deal. Their expertise comes at a standard industry cost.
- Agency Fee (5% – 10%):
- What it is: The fee paid to the real estate firm or agent who sourced the property, conducted inspections, and facilitated the negotiation.
- The Cost: In Lagos and Abuja, the standard is 5% of the property value. In some rental transactions, it can be 10%.
- Note: Never try to bypass the agent to “save” this fee. A good agent saves you millions by negotiating the price down and spotting red flags.
- Legal Fee (5%):
- What it is: The fee paid to the solicitor who drafts the Deed of Assignment and the Contract of Sale. More importantly, this covers the cost of their liability. If the deal goes bad due to negligence, your lawyer is on the hook.
- The Cost: The Nigeria Bar Association scale guides this, but in property transactions, 5% is the industry standard.
- Note: Some developers charge a flat “Legal & Admin Fee” (e.g., N500k or N1m) instead of a percentage, which can be cheaper for high-value properties.
2. Technical Fees: The “Boundary” Cost
- Survey Fee (Variable):
- What it is: The cost to produce a Registered Survey Plan in your name. This is the document that officially maps out your plot’s coordinates at the Surveyor General’s office.
- The Cost: This is not a percentage; it is based on location.
- Lagos: Depending on the zone (e.g., Epe vs. Ikoyi), it can range from N350,000 to N2,000,000.
- Abuja: Typically ranges from N250,000 to N600,000.
3. Statutory Fees: The “Government” Cost
This is often the largest “extra” cost, and it is mandatory if you want to perfect your title (which you absolutely should).
- Governor’s Consent / Perfection Fees:
- What it is: The taxes paid to the State Government to register the transfer of ownership. It includes Registration Fees, Consent Fees, and Stamp Duty.
- The Cost: This varies wildly by state.
- Lagos: Officially roughly 1.5% – 3% of the assessed value (not necessarily your buying price), but with administrative costs, budget around N500k – N1m for average plots, or significantly higher for prime land.
- Abuja: C of O recertification and regularisation costs can vary.
- Pro Tip: Many buyers delay this step, but doing so puts your title at risk.
4. The “Estate” Fees: The “Community” Cost
If you are buying into a serviced estate (gated community), there is one final hurdle.
- Infrastructure / Development Levy:
- What it is: A fee charged by the estate developer to provide communal facilities like paved roads, drainage, streetlights, and the gatehouse.
- The Cost: This is usually a flat fee, ranging from N1 million to N5 million depending on the luxury level of the estate.
- Note: Always ask if this fee is inclusive or exclusive of the land price. In “Site and Service” schemes, it is almost always extra.
The “20% Rule”: Your Safe Budget Strategy
To avoid getting stranded, use the 20% Rule.
When you see a property you like, calculate 20% of the asking price and set it aside.
- 5% for Agency.
- 5% for Legal.
- 10% buffer for Survey, Development Levies, and Government/Misc costs.
Example:
- Property Price: N50,000,000
- Real Budget Needed: N60,000,000
If you have exactly N50m, look for properties in the N40m range so you can comfortably cover the closing costs without stress.
Transparency is Our Policy
At MiraEmma Properties, we hate surprises as much as you do. That is why for every listing we send you, we provide a “Total Package Breakdown.” We list the purchase price, the legal fee, the agency fee, and any development levies upfront.
No hidden math. No last-minute invoices. Just a smooth, transparent path to ownership.
Ready to see properties with clear, upfront pricing?
