It is no doubt that Lagos is one of the most expensive cities in Nigeria to live in as prices of properties and the cost of living are on the rise. Individuals choose between living on the mainland or island in Lagos, with many people choosing the serenity and high life status of the island. Lagos Island boasts of many fascinating structures in Nigeria, see Top 10 Luxury Hotels in Nigeria. Regardless, there are still topnotch areas on the mainland that can match the properties and environment on the island. Check out the Top 10 expensive estates in Lagos.
1. Banana Island, Ikoyi
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It is one of the most popular areas in Lagos, and currently the most expensive to live in or own a property. Having one of the highest densities of millionaires, it is home to notable people like Mike Adenuga, Iyabo Obasanjo, Linda Ikeji, Kola Abiola, to mention a few. Banana Island is a man-made island shaped like a banana, hence its name, approximately 1,630,000 square meters. To enhance the banana shape of the island, it is sectioned into 536 plots consisting of 100 closes. It is located in Ikoyi, Lagos, and popularly known for its wealth, multicultural ambiance, and beautiful layout. The major attractions of this island are the beautifully designed lawns, excellent roads, serenity, clean environment, and world-class utilities. The denomination of payment for properties in Banana Island is Dollars; depending on the type of property available, a piece of land in this area is sold $1,101 per square meter, to rent an apartment, costs between $65,000 to $80,000, detached houses costs approximately $2.75 million, and some time in 2019, one of the properties, a six-bedroom detached house on 2,600 square meters of land cost about $13 million.
2. ParkView Estate, Ikoyi
This Estate is also located in Ikoyi, Lagos, and bordered by Banana Island and Gerrard Road. Parkview Estate is a deluxe suburb, majorly residential with few guesthouses and offices, consisting of respected, high-class personalities, in the likes of Musiliu Obanikoro, Olu Okeowo, and Amaju Pinnick. The area boasts of about 400 buildings with more still under construction. One of the major attractions of this area is its top-level security system as there has been no case of theft or otherwise in the past decade. The area is clean, peaceful, and designed to suit every resident and property owner. Properties in Parkview go for as high as N1,000,000,000, and as low as N50,000,000, depending on the type of property you want to rent or purchase. Rent for a 3-bedroom flat cost about N7 Million.
3. Oniru Estate, Victoria Island
Oniru Estate, named after the ruling family of the area, is located in the heart of Victoria Island. The estate is mostly residential and houses the Oba Oniru Palace. Oniru estate has several other smaller estates with include Crown Court Estate (1 & 2), Mabel’s Court, Tofarati Court, Crescent Park Estate, Philipanni Court, Demville Court. Oniru also called Maroko is bordered by various landmarks like Palms Mall, Four Points by Sheraton Hotel, Landmark Centre, etc. One is sure to fall in love with its quiet residential area, proximity to various places of interest, less traffic inside the estate, and luxurious amenities. Purchasing a block of flats, three/five-bedroom flat, townhouse or detached house in this area costs as low as N20,000,000 to as high as N800,000,000 and annual rent for a 4-bedroom cost ₦4 million – ₦7.5 million.
4. Shonibare Estate, Maryland
This premium estate is located in the heart of Maryland and bordered by Ikeja. Sitting on large acres of land, Shonibare Estate is one of the exquisite residential estates to live in or own a property, on the Lagos mainland. The estate attracts and keeps buyers calm due to its security advantage as it has proximity to the Ikeja cantonment. Shonibare Estate is owned by Late Chief Samuel Olatubosun Shonibare of Shonny Investment and Properties Limited and was built in 1959. The gated, highly residential estate is popularly known as the “Banana Island of Lagos Mainland” because of its calm ambiance with well-paved roads, outstanding architecture, and first-rate amenities. A property for sale in this area can go as high as N300,000,000 and it is home to many top executives and directors in Nigeria. A 3-bedroom flat would cost between N2 Million to N3 Million.
5. Orchid Estate, Ikeja GRA
Owned by Messrs Briscoe Properties Limited, Orchid Court Estate has lit up Ikeja G.R.A. This residential estate has apartments and family homes for every kind of individual. Its architecture is of European-standard and it offers seven different types of residential units, each with its unique arrangement. Buyers are attracted to this estate due to its security, serene spatial environment, and a very secure title with an unexpired residue of 99years. Properties in this estate costs between N75,000,000 to N150,000,000. A 3-bedroom flat would cost between N1.5 Million to N2.5 Million.
6. Amen Estate, Lekki
Built to luxurious taste and standard, competing with top estates in Nigeria, Amen Estate, located in the Ibeju Lekki axis of Lekki Peninsula, is home to notable celebrities like Funke Akindele and her husband JJC. It is beautiful, with a mix of tradition and modern culture, boasting of leisure utilities like gym, swimming pool, tennis court, leisure park, open-air market, a community centre for events, and playground for kids. There is the availability of light, water, good roads, integrated CCTV, waste management services, etc., all of these costs about N140,000,000
There are various types of homes in this estate namely, The Afin, The Iga, The Agbala, The Lolo, The Olori, The Nze, and The Queen Amina, with each home having its unique layout.
7. Friends Colony Estate, Lekki
This fully residential estate is located in the Agungi/Osapa area of Lekki. It boasts of quality infrastructure, well-paved roads, drainage system, clean environment, beautiful lawns, proper management of waste, 24-hour patrol security, and 24 hours electricity. Friends Colony Estate was developed by Aircom Nigeria which is popular for doing top-notch jobs. Asides the exquisite amenities of the estate, what attracts buyers is the easy access to its domain, taking just about one hour from the Osapa road, proximity to various schools, hospitals, pharmacies, and other places of interest. The estate has various duplexes ranging from semi-detached and detached types, costing about N4,000,000 to rent and N70,000,000 to N90,000,000 for purchase. Residents also pay a service charge of N24,500 monthly for maintenance and sanitation.
8. Chevy View Estate, Chevron Drive, Lekki
Chevy View estate is located just opposite the head office of Chevron Nigeria Limited. The estate is not strictly residential as quite a several businesses are located within it. Most of the buildings are semi and fully detached duplexes, costing as high as N80,000,000. The estate is home to many upper-class families, top executives, and directors, and it attracts buyers because of its high property appreciation, environment, and provision of basic social amenities. To rent a 3 bedroom Flat in this estate would cost N1.7 million – N2.3 million.
9. Grenadines Homes, Citiview Estate, Magodo
This private estate sets a benchmark in infrastructure and utilities. Grenadines Homes Citiview Estate is covered by Global Certificate of Occupancy, attracting buyers to its domain. It is of high quality, with proximity to commercial, residential, administrative, recreational, and other areas of interest. It also boasts of high-level security as it takes a five-minute drive from the estate to the Alausa Secretariat, Lagos seat of power, which is highly secured. Properties in this estate costs between N26,000,000 to N50,000,000.
10. Pinnock Beach Estate, Lekki
This private estate sets a benchmark in infrastructure and utilities. Pinnock Beach Estate is a serviced residential estate located along Femi Okunnu Road, Lekki. The environment is well structured with a good road network, well-carved drainage, and security surveillance. Each house has its Green area and also a recreation space to complement it. Annual service charge in this estate is N450,000 which covers waste management, security and general maintenance of the Estate. A 4-bedroom semi-detached would cost around N4.5 Million annually, while the out-right purchase of a 5 bedroom fully detached in this estate costs between N150,000,000 to N230,000,000.
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