Most Expensive Luxury Real Estate Locations in Nigeria [Photos]

What are the top most expensive luxury real estate location in Nigeria?

No doubt, The real estate business is a big industry in Nigeria worth billions of dollars and the dream of every Nigerian is to own a dream home that they can tag as the talk of town.

If your search is actually based on the most expensive real estate location you can find in Nigeria? Then this article got you covered with all information fully outlined.

These are the list of the most expensive luxury real estate locations in Nigeria.

1. Banana Island in Lagos (Lagos State) – N450Million ($2.81Million)

A 3-bedroom apartment typically sells for N100Million ($625,000) here and N450Million ($2.81Million) for a 5-bedroom house. Apparently due to the cost of acquiring properties, rental properties are very popular, with rent for a 3-bedroom apartment even going as high as N10Million ($63,000) per annum.

A man-made island in Lagos State, Nigeria that is slightly curved in shape – like a banana, Banana Island is located in the Lagos Lagoon. It has one of the highest density of millionaires within its boundaries, with billionaire Globacom Chairman Mike Adenuga, daughter of a former president of Nigeria, Iyabo Obasanjo are proud owners of property on the island. Son of late MKO Abiola, Kola Abiola and Saayu Dantata – Son of late Alhassan Dantata are other notable residents of the Island.

2. Maitama in Abuja (Federal Capital) – N430Million/$2,687,500

Property in Maitama costs close to $2.7 million or more. An area occupied by embassies and high commissions, as well as the crème de la crème of the society, Maitama sure deserves its second place on this list.

3. Asokoro in Abuja (Federal Capital) – N418Million/$2,612,500

One of the major districts in Abuja, Asokoro is a high class area; home to state house, Aso Rock, secretariat of the Economic Community of West African States, (ECOWAS), National Intelligence Agency (NIA) and the World Health Organization (WHO) office, among others. Property ‘understandably’ cost a fortune in this area.

4. Jabi in Abuja (Federal Capital) – N400Million/$2,500,000

Nigeria’s capital city comes in at number 4 with property at Jabi costing at least $2.5 million. Many Nigerian politicians have interests in this area.

5. Nicon Town in Lekki (Lagos State) – N320Million/$2,000,000

Nicon Town in Lekki is one of the budding real estate markets in Lagos now, with property in excess of $2 million.

6. Ikeja GRA, in Ikeja (Lagos State) – N250Million/$1,562,500

Many wealthy Nigerians who love the quiet life the GRA offers crave property in this area and don’t mind they have to part with money in the excess of $1.5 million to get the comfort they want. You’d find several expats here too.

7. GRA Phase 2 in Port Harcourt (Rivers State) – N145Million/$906,250

Port Harcourt is home to a lot of expatriates, many of who work for oil companies in the oil-rich city. If there are people who can afford property close to a million dollars, they sure can. Many South-South billionaires who just don’t want their money out of their region also spend so much on property at the city.

8. Lekki Scheme I, Lekki (Lagos State) – N140Million/$875,000

With $875,000, you can get a property in Lekki. The Island has been home to some of the most expensive property in Lagos in recent times, but demand for more luxury has pushed it down to eight on this list.

9. Alalubosa GRA in Ibadan (Oyo State) – N100Million/$625,000

Ibadan, Africa’s second largest city has been regarded by some as the most under-developed city in the world, but the city has started living to its potentials in the past few years, little wonder it made it to this list.

10. Ibara in Abeokuta (Ogun State) – N80Million/$500,000

Abeokuta’s real estate market is growing fast as people look to outlying locations outside Lagos, as high prices are forcing many out of the real estate space in Lagos.

Here’s a quick recap of the most expensive luxury real estate location in nigeria.

  1. Banana Island in Lagos (Lagos State) – N450Million ($2.81Million)
  2. Maitama in Abuja (Federal Capital) – N430Million/$2,687,500
  3. Asokoro in Abuja (Federal Capital) – N418Million/$2,612,500
  4. Jabi in Abuja (Federal Capital) – N400Million/$2,500,000
  5. Nicon Town in Lekki (Lagos State) – N320Million/$2,000,000
  6. Ikeja GRA, in Ikeja (Lagos State) – N250Million/$1,562,500
  7. GRA Phase 2 in Port Harcourt (Rivers State) – N145Million/$906,250
  8. Lekki Scheme I, Lekki (Lagos State) – N140Million/$875,000
  9. Alalubosa GRA in Ibadan (Oyo State) – N100Million/$625,000
  10. Ibara in Abeokuta (Ogun State) – N80Million/$500,000

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