Top 7 Most Expensive Places to Live in Lagos (2025)

Lagos, Nigeria’s commercial hub, is known for its high cost of living and rapidly growing real estate market. With property prices soaring and luxury estates emerging across the city, Lagos is ranked among the most expensive cities in Nigeria.

Residents in Lagos typically choose between the Island and the Mainland. While Lagos Island is often preferred for its upscale lifestyle, aesthetics, and business opportunities, the Mainland also boasts high-end neighborhoods that rival the Island in terms of luxury and cost.

Here are the top 7 most expensive places to live in Lagos:

1. Eko Atlantic

Eko Atlantic is an ultra-modern smart city developed on reclaimed land adjacent to Victoria Island. Overlooking the former Bar Beach, this futuristic metropolis is set to redefine luxury living in Africa.

High-end infrastructure: State-of-the-art amenities, 24/7 electricity, a seamless transport system, and high-speed telecommunications.
Real estate value: Land costs up to $4,000 per square meter, making it one of Africa’s priciest housing projects.
Investment hotspot: Designed to attract global investors, accommodating 500,000 residents and over 300,000 daily commuters.
Luxury lifestyle: Features upscale apartments, premium office spaces, a world-class shopping mall, an international school, and top-tier healthcare facilities.

2. Banana Island

Banana Island is an exclusive, man-made neighborhood in Ikoyi, renowned for its affluence and prime real estate. Home to billionaires, top executives, and expatriates, it boasts some of the most luxurious homes in Nigeria.

High-profile residents: Includes Mike Adenuga, Iyabo Obasanjo, and Saayu Dantata.
Elite facilities: Features underground electrical and water systems, a central sewage system, satellite telecommunications, and a top-tier security network.
Real estate prices: A plot of land can cost up to $1.8 million.
Notable landmarks: The Ocean Parade Towers, a luxury residential development, dominates the skyline.

3. Lekki

Lekki is the preferred residential destination for Nigeria’s elite, including celebrities, business tycoons, and top executives. This fast-growing area is evolving into Lagos’ equivalent of Beverly Hills.

High-end estates: Features gated communities like Pinnock Beach Estate and Northern Foreshore Estate.
Real estate prices: Properties range up to ₦650 million.
Family-friendly environment: Offers excellent schools, security, and recreational facilities.
Entertainment hub: Hosts high-end restaurants, malls, and nightlife attractions.

4. Victoria Island

Victoria Island (VI) is Lagos’ central business district and a luxury residential zone. It is home to top executives, expatriates, and embassies.

Upscale lifestyle: Features high-end apartments, five-star hotels, luxury shopping centers, and world-class hospitals.
Real estate prices: A 3-bedroom apartment can cost up to ₦800 million.
Prime business location: Hosts the headquarters of multinational companies and diplomatic missions.
Expensive schools: Home to international schools, making it attractive for expatriate families.

5. Ikeja GRA

Ikeja Government Reserved Area (GRA) is the most prestigious neighborhood on the Lagos Mainland, long known as a haven for the wealthy.

Serene and secure: Well-paved roads, green landscapes, and a tranquil environment.
High-end properties: Home to luxurious detached houses, bungalows, and serviced apartments.
Real estate prices: Properties sell for as high as ₦600 million.
Commercial presence: Hosts corporate offices, fine dining restaurants, and boutique hotels.

6. Shonibare Estate, Maryland

Shonibare Estate is a premium gated community in Maryland, Lagos Mainland, known for its exclusivity and security.

Strategic location: Proximity to Ikeja Cantonment ensures top-tier security.
Prestigious living: A serene environment with tree-lined streets and luxury housing.
Real estate prices: A bungalow can sell for ₦300 million.
Well-planned infrastructure: Offers underground utilities and reliable drainage systems.

7. Ikoyi

Ikoyi is an elite neighborhood on Lagos Island, housing expatriates, business magnates, and government officials.

Prime location: Includes prestigious areas such as Parkview Estate, Dolphin Estate, and Banana Island.
Luxurious residences: Features high-rise apartments, mansions, and penthouses.
Real estate prices: Some properties sell for up to ₦9 billion.
Exclusive amenities: Offers yacht clubs, golf courses, and luxury hotels.

Final Thoughts

Lagos is home to some of the most expensive real estate in Africa, catering to the ultra-wealthy and expatriates. Whether you’re looking for the futuristic appeal of Eko Atlantic, the exclusivity of Banana Island, or the vibrant luxury of Victoria Island and Lekki, these neighborhoods represent the pinnacle of opulent living in Nigeria.