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Check Out Top These 7 Most Expensive Places To Live In Lagos


With property and living costs
on the rise, expensive estates springing up in all parts of the city,
the development of Lagos into a mega city has seen an upswing in the
cost of property, it is no wonder Lagos state has been dubbed one of the
most expensive cities to live in Nigeria.
Residents in Lagos have a choice of either staying in the Lagos
Island or the mainland. While most people have a preference for living
in the Lagos island due to its high-life status, beauty, and economic
opportunities. There are still very good areas located on the Lagos
mainland which can as well compare to the cost and standard of living on
the island.
Here are the top 7 most expensive places to live in Lagos;

1. Eko Atlantic

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The Eko Atlantic is the rising smart city being developed from
reclaimed land on the shores of Victoria Island, Lagos. Overlooking the
former beach front of the Bar Beach. It is adjacent to Victoria Island,
When completed, Eko Atlantic will rise as the next generation of
property in Africa.
The city will satisfy needs for financial, commercial, residential and
tourist accommodations with a state-of-the-art high-tech infrastructure
in line with modern and environmental standards.The city will naturally
feature a range of high-end luxury apartments
With a per square meter of land costing as high as $4, 000, it is one of the most expensive housing projects in Africa
Essentially built to solve the chronic shortage of real estate in the
world’s fastest-growing megacity, it is a focal point for investors
capitalising on rich development growth based on massive demand – and a
gateway to emerging markets of the continent
The project is expected to be one of the leading sources of foreign
direct investments into the country. The city will become West Africa’s
new financial hub, accommodating the headquarters of the subregion’s
leading banks, financial institutions, and international corporate
companies.
The Eko Atlantic City Business District is a strategic and
prestigious location with a state-of-the-art 24/7 infrastructure
network, including 21st-century communications, smooth transport system,
and uninterrupted electricity, making it a compelling place to work.”
Upon completion of the city, Eko Atlantic will be home to 500,000
residents with an expected commuter volume to exceed 300,000 people.
The city not only boasts of independent power and water supply,
seamless communications network but also an extensive city-wide road
network. This will be the first of its kind in Lagos and Nigeria.
The city, which is divided into 8 districts, is planned for mixed-use
with commercial, residential, entertainment and leisure activities to
make the city a 24/7 lively environment. City amenities and services
will include an international school, hospital, and a high-quality
shopping mall, the largest in sub-Saharan Africa.

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2. Banana Island

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Banana Island is the premier neighbourhood in Lagos next in prestige and cost to Eko Atlantic in cost.
Banana Island, is an area of Ikoyi, Lagos known for its wealthy,
multi-cultural aura. This area has some of the most expensive real
estate in Nigeria as it houses some of the most expensive houses in
Nigeria. It has one of the highest density of millionaires within its
boundaries. It is home to the likes of Mike Adenuga, Iyabo Obasanjo,
Saayu Dantala and a host of other elites
This island is beautifully designed with well-laid lawns, beautiful
flowers, and well-paved roads. The quietude and the untainted
environment is a major attraction as well. A piece of land for sale in
Banana Island can go for as high as $1.8 million
Banana Island is a man-made island and is curved in the shape of a
banana hence the name. The banana-shaped island is approximately
1,630,000 square meters in size and it has been zoned into 536 plots
consisting of 100 closes, which serve to enhance the banana shape of the
island. Residents are provided world class utilities including
underground electrical systems, an underground water supply network,
central sewage system and treatment plant, street lighting and satellite
telecommunications networks, as well as overhead and storm water
covered drainage. All of these add up to make the cost of buying a plot
of land in Banana Island, all the more expensive. One of the most
outstanding features of the island is the Ocean Parade Towers rising
into the sky at eight floors with a penthouse. The denomination of
payment for properties in this area is Dollars

3. Lekki

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Lekki has emerged to be the abode of the nouveau riche. Apart from
being expensive, Lekki is fast developing into the Beverly Hills of
Lagos. It is home to Lagos corporate moguls, celebrities, and captain of
industries.

Located in Lagos Island, Lekki depicts class and beauty at it’s
finest. It is one of the best places to raise children in Lagos because
it gives them a higher chance create a healthy relationship with the
children of affluent persons in the society. Asides this, Lekki is known
for its security, peacefulness, calmness, serenity and orderly
structure. There are a lot of estates in Lekki and houses found in this
environment include; duplexes, bungalows, serviced apartments, luxury
apartments. A property here can go for as high as N650,000,000
4. Victoria Island

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Victoria Island which is located on Lagos Island is a residential as
well as a commercial area. This is one of the most affluent areas of
Lagos Island and it has some of the most expensive real estate
properties in Nigeria. Renting a 3 bedroom flat apartment in this area
can go for as high as N800,000,000. Residents of Victoria Island include
wealthy Nigerian business people and management professionals, and many
of the city’s expatriates. Victoria Island is also a diplomatic centre
with numerous foreign embassies and consulates located in the area.
There are also good and expensive hospitals on Victoria Island and most
of the international schools in Lagos are also located here which is
another major attraction for expats in the country.
5. Ikeja GRA

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Located in Lagos Mainland, Ikeja GRA is known to be home to some of
the richest people in the society, long before the development in many
parts of Lagos. It is occupied by the creme de la creme of Lagos
Mainland.The evident serenity and calmness in this area make it one of
the best places to raise kids in, despite the ever bubbling Lagos
atmosphere. The saying that ‘you get what you pay for’ really holds true
for Ikeja GRA. With well-paved roads, traffic lights and regular power
supply, it is hard to resist this area. Most houses in this area are in
form of detached houses, bungalows, serviced apartment and duplexes.
Ikeja GRA is perhaps the most expensive place in Lagos Mainland today. A
property in Ikeja GRA can for as high as N600,000,000
Although the whole of Ikeja GRA was planned to be a residential
estate, commercial activities have since taken over this area,
especially along Joel Ogunnaike and Isaac John which has led to traffic
congestion in these areas. There are however still some areas that have
maintained their residential characteristics like Oduduwa Crescent,
Herbert Macaulay Crescent, Rev. Ogunbiyi and Fani-Kayode streets.
6. Shonibare Estate, Maryland

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Maryland is regarded as the central in Lagos, although it is not like
Oshodi or other central places in Lagos, it shares a boundary with the
state’s capital. Maryland is the home of the Ikeja cantonment which
makes it highly secured. There are also a few sub-estates in Maryland,
one of which is the popular and expensive Shonibare Estate.
Shonibare Estate one of the best residential estates in Lagos
Mainland. It is along Mobolaji-Bank Anthony Way, Maryland. The estate
commands so much premium rents. Maybe because it seems to put buyers’
mind at rest. The gated estate enjoys the security advantage of its
proximity to the Ikeja army cantonment. It’s calming ambience with
tree-lined streets and restrained architecture should also be a big
plus. A bungalow for sale in this area can go as high as N300,000,000
7. Ikoyi

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Ikoyi is one of the most affluent neighbourhoods in Lagos Island. It
is an up-market residential island separated by a narrow waterway from
Lagos Island to the west inhabited by expatriates and the upper-class
residents of the Nigerian society. It lies to the northeast of Obalende
at the edge of the Lagos Lagoon and encompasses the eastern half of
Lagos Island.

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Ikoyi includes the newer suburbs of Banana Island, Parkview Estate,
Dolphin Estate and other luxurious blocks of flats that are springing
up.
With well-paved roads as well as a good layout, it is one of the most
expensive areas to live in. A property for sale here can go for as high
as N9,000,000

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