Wednesday, 22 October 2014

WOW ! Check Out The 7 Most Expensive Areas In Lagos.

The dream of owning one’s own house is the desire of every Nigerian citizen. It doesn’t matter if you are a landlord or you are currently living in a rented apartment, check out this list of the seven most expensive places in Lagos. On a lighter note, be sure not to break the bank to get that dream house.

7. Lekki-Ajah Area:

lekki ajah

For the Lekki-Ajah area, the average rent for a wing of duplex is between N2.5 million and N3 million. Lekki is one of the fastest growing places in Lagos.  a standard plot of land in the neighbourhood still goes between N15 million and N20 million.

6. Magodo:

magodo house 

Magodo is located close to the Lagos-Ibadan expressway and easily accessible to Lagos Island and Ikeja Central Business Districts making it a real-estate. Fifteen million naira may not seem a lot to a billionaire but it is a whole lot of money to the average Nigerian citizen. With N20 -N40  million,  you can get a standard plot of land in the Magodo area. Renting a wing of duplex per annum goes for around N2 million-N3 million.

5. Ikeja GRA:

Ikeja GRA 

Ikeja GRA was created during the colonial period as a high-end residential area. It is an integral part of the suburb of Ikeja and with about N4million-N8 million if not more you can get a house there that affords you some peace and quiet. As of 2002, the figure used to be about N800,000  to N1 million per annum. If you are looking to buy an acre there, it costs between N100 million and N150 million.

4. Victoria Island:

victoria island houses

If you are thinking of buying an acre of land in Victoria Island, then you should be holding a minimum of N150 million-N250 million. Not to worry if you aren’t thinking of buying but just renting, then you can get yourself a wing of duplex in Victoria Island for between N 5 million to N10 million per annum. Do note that this depends on the facilities of the house as well as its location.

3.  Lekki Phase 1 and Nicon Town, Lekki:

nicon town

Lekki Phase 1 is one of the popular expensive areas In Lagos.Land there goes for as much N300million-N500million.If you want to rent a place in Lekki,be ready to part with loads of money as rent goes for as much as N4million t0 N8million.
Nicon Town is located outside of the Lekki Peninsula towards the campus of Chevron Nigeria Limited. It is one of the emerging real estate markets in Lagos and properties there cost more than $2 million(N350 Million).

2. Ikoyi :

ikoyi houses

Life used to be a whole lot cheaper in Ikoyi but the same cannot be said again as house pricing has skyrocketed over the past few years. To rent a luxury three-bedroom flat in Ikoyi used to be between N1.16 million and N3.5 million about three years ago but the same now goes for around N5.2 million to N9.3 million per annum. An acre of land in places like Parkview and Osborne Road sells for between N450 million and N550 million.This also depends on the area of location.

1. Banana Island :

banana island villas
Banana Island is a man-made island in the Lagos Lagoon and is curved in the shape of a banana hence the name.  It is the most expensive place to live in Lagos as a three bedroom apartment for rent  goes for as high as N15million to N20 million per annum. Land goes for as much as N600 million to N900 million.Isn’t that outrageous? well,it is a no go area for the average man in Lago.s
Naira is not the denomination of payment so get your dollars ready. The likes of Mike Adenuga (Chairman of Globacom), Iyabo Obasanjo (daughter of former Nigerian president), Saayu Dantata who is a brother to Africa’s Richest man,Aliko Dangote are inhabitants there.

Culled from