Residential propety

Average rents have increased by 6% in the Mabushi residential market in Abuja over the past 5 years

Mabushi is a serene neighborhood located in the Federal Capital Territory, Abuja. It is bounded by Wuse to the east, Kado to the west and Utako District to the north.

This area is a developing suburb with government developments such as the Federal Department of Works and Housing building, headquarters of the Road and Traffic Services Branch (also known as the Bureau of Vehicle Inspection – VIO); schools such as Brookstone International School and Foundation, Claret International Schools; as well as hotels such as: Dove Resort and Zeus Paradise Multipurpose Hall and Hotel.

Residences at Mabushi are mostly estates of varying sizes, as well as a number of private properties, falling under the luxury housing typology. Some of these developments include:

Real estate information currently tracks 595 residential properties (479 completed and 116 in development) in Mabushi. Based on the data we have gathered, the average rent for a 3 bedroom apartment is N2,868,547 and the same is currently selling for N58,188,567 which is a yield of 6.19% per annum . Rents and sale prices in the area have increased by 6.7% and 2.1% respectively over the last 5 years. This growth has been supported by Mabushi’s proximity to other popular and large areas, which naturally makes it an overflow from the larger and more populated area. Thus, this population growth has stimulated demand leading to an increase in rents. Therefore, we believe that the direction of the market over the next year will be neutral.

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Click on here to read Mabushi’s comprehensive residential market analysis, which provides a more in-depth analysis of other market data we track, including; sales and rental rates, yields, supply factors, inventory allocation, occupancy rate and information on major contractors active in the market.

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