Nigerians are now among the biggest foreign landlords in Britain, joining Indians at the top of the UK rental market as property investments surge.
When Lagos entrepreneur Chika Okeke and bought her first buy-to-let flat in Manchester last year, she wasn’t chasing prestige. She was chasing stability. “The system here is clear, the rental demand is strong, and the property pays for itself,” she told told Times UK.
She is part of a powerful wave of Nigerians reshaping Britain’s rental property market. Alongside Indians, Nigerians now dominate UK buy-to-let company ownership.
Fresh data from estate agency Hamptons shows that in the first half of 2025, Nigerians set up 647 buy-to-let companies, second only to Indians, who established 684. Together, both groups have topped the rankings for three years in a row, ahead of Poles and other European migrants who once led the space.
Why the UK?
The appeal is simple: transparency and yields. In Nigeria, investors grapple with opaque land registries, erratic policies, and unreliable tenants. In the UK, rental yields in northern cities reach 9–10 per cent, compared with an average of 7 per cent nationwide.
“You can buy a house in Leeds and have tenants lined up immediately,” said Uche Eze, a Nigerian mortgage broker in Birmingham. “Back home in Lekki, you might wait months to collect rent. Nigerians see the difference and move fast.”
Migration and money
The surge mirrors migration flows. Between 2019 and 2023, 127,000 more Nigerians and 178,000 more Indians arrived in the UK, according to the Office for National Statistics. As these groups settle, many are using property investment as both a wealth-building tool and a hedge against economic volatility back home.
For affluent families in Lagos and Mumbai, UK property doubles as accommodation for children in school and a long-term rental income stream. For professionals in the diaspora, it is the fastest route to building generational wealth.
The tax edge
The smart money is in company structures. Buying through a limited company allows landlords to deduct 100 per cent of mortgage interest and expenses, while paying 19–25 per cent corporation tax instead of up to 45 per cent income tax.
“Serious investors don’t buy in their personal names anymore,” explained Bola Adebayo, a Nigerian property consultant in London. “The company route makes the numbers add up.”
Hurdles in the market
Yet the market is not without obstacles. Non-UK residents now pay a 7 per cent stamp duty surcharge, while buy-to-let mortgage rates have risen from 3.25% in 2021 to over 5.2% today. By 2028, landlords will also have to upgrade properties to meet higher energy efficiency standards.
“It’s costly,” said Okeke, who is already budgeting for energy upgrades. “But compared to the uncertainty at home, it’s still a better deal.”
As Strategy that endures
Despite the headwinds, Nigerians and Indians remain the most aggressive foreign landlords in Britain. Average rents in England and Wales are up 34 per cent in five years, now at £1,372 a month, ensuring steady returns.
“There’s peace of mind in knowing your money is in a system that works,” Eze said.
Or as Okeke put it: “In the UK, even while I’m asleep, my property is working for me.”
