10 Most Expensive Estates in Lagos: See How Much It Costs to Live There

Gated estates and exclusive neighbourhoods define the Lagos luxury residential landscape. This is a lifestyle where security, status, and infrastructure set the price.

Data from The State of Lagos Housing Market Vol. 3 indicates that a considerable number of high-net-worth individuals and diaspora investors support demand for these top-tier estates, and that is what makes them so costly.

In many of these estates, residents pay privately for basic amenities that should have been provided by the government, including steady power, drainage, water supply, and high-end security.

ALSO READ: Why Abuja is expensive for newcomers

As a result, they enjoy a better quality of life in a serene environment at an additional cost.

Note: The rental and sale prices cited below are sourced primarily from property listing websites (including Nigeria Property Centre, PropertyPro) and market reports.

10 Most Expensive Estates In Lagos

1. Banana Island (Ikoyi)

Banana Island is Lagos’ most exclusive estate and the ultimate symbol of wealth and prestige. It is home to billionaires, executives, and political elites, and it features restricted access, 24-hour security, and privately managed infrastructure. The banana-shaped estate overlooks Victoria Island and Lekki Phase 1, with high-rise apartments, waterfront villas, and smart homes boasting private cinemas, infinity pools, and fully automated systems.

Rental Prices (2025):
- 3-bedroom: ₦25 million – ₦80 million per annum
- 4-bedroom: ₦40 million – ₦90 million per annum
- 5-bedroom: ₦75 million – ₦160 million per annum
Sale Prices:
- 3-bedroom: ₦750 million – ₦2 billion
- 4-bedroom: ₦940 million – ₦3.5 billion
- 5-bedroom: ₦1.7 billion – ₦7 billion
- Land: about ₦2 million per square metre

New luxury projects like Tinuola Towers start at $750,000, reflecting the area’s appeal to foreign investors. Nearby Landmarks include Lagos Polo Club, Ikoyi Club 1938, Falomo Bridge, The Wheatbaker Hotel, and the Lekki-Ikoyi Link Bridge.

2. Parkview Estate (Ikoyi)

This estate is located in Ikoyi and bordered by Gerrard Road and Banana Island. Parkview Estate ranks among the most prestigious residential enclaves in Lagos. It is known for its serenity, security, and high-profile residents, from top executives to diplomats. The estate’s roads are well-paved and well-lit, with landscaped surroundings and a steady power supply. Security is handled by uniformed guards at the gates and on patrol.

Rental Prices:
- 3-bedroom apartments: ₦11 million – ₦35 million per annum
- 4-bedroom terrace or detached duplexes: ₦45 million – ₦70 million
- 5-bedroom terrace duplexes: ₦40 million – ₦70 million per annum
Sale Prices:
- 3-bedroom apartments: ₦380 million – ₦550 million
- 4-bedroom duplexes: ₦550 million – ₦1.6 billion
- 5-bedroom homes: ₦2 billion – ₦6 billion

Nearby Landmarks include Parkview Astoria Hotel, Pearl Court Residence, Ikoyi Golf Course, Lagos Boat Club, and The National Museum.

3. Osborne Foreshore Estate (Ikoyi)

Osborne Foreshore Estate is a secure, waterfront community in Ikoyi. Its tree-lined streets, lagoon views, and landscaped gardens make it one of Lagos’ most desirable locations. The estate offers a mix of apartments, duplexes, penthouses, and mansions, all with 24/7 electricity and top-tier security.

Rental Prices:
- 3-bedroom: ₦15 million – ₦25 million per annum
- 4-bedroom: ₦17 million – ₦45 million
- 5-bedroom houses: ₦25 million – ₦120 million
Sale Prices:
- 3-bedroom: ₦250 million – ₦1 billion+
- 4-bedroom: ₦300 million – ₦1 billion+
- 5-bedroom: ₦400 million – ₦1.2 billion

Nearby Landmarks include the Oriental Hotel, Civic Centre, Radisson Blu Anchorage, Boli Point Marina, and Lagos Lagoon Waterfront.

4. Nicon Town Estate (Lekki)

This estate was originally developed by Chevron Nigeria Limited for staff housing. But now, Nicon Town has evolved into one of Lekki’s top luxury enclaves. The estate is clean, quiet, and heavily secured, with paved roads, reliable power, and lush landscaping.

Rental Prices:
- 3–4-bedroom terrace duplexes: ₦14 million – ₦22 million per annum
- 5-bedroom detached houses: ₦25 million – ₦30 million per annum
Sale Prices:
- 4-bedroom terrace duplex: around ₦145 million
- Detached duplexes and mansions: up to ₦2.5 billion

Nearby Landmarks include the Palms Shopping Mall, Filmhouse IMAX Lekki, Nike Art Gallery, Twinwaters Lagos, and Lekki Conservation Centre.

5. Pinnock Beach Estate (Lekki)

Pinnock Beach Estate, located off Femi Okunnu Road in Lekki, embodies a coastal serenity with cutting-edge modern living. With paved roads, underground drainage, and landscaped gardens, it provides one of the most exclusive environments in Lagos.

Rental Prices:
- 4-bedroom semi-detached houses: ₦10 million – ₦13.5 million
- 5-bedroom detached duplexes: ₦14 million – ₦22 million
- Serviced apartments: ₦7.2 million – ₦9.6 million
Sale Prices:
- 4-bedroom homes: ₦600 million – ₦950 million
- 5-bedroom detached homes: ₦850 million – ₦1.3 billion
- Premium waterfront villas: ₦1.5 billion+

Nearby Landmarks include Landmark Beach, Elegushi Beach, Oniru Private Beach, Lekki Leisure Lake, and Lekki Arts & Crafts Market.

YOU MIGHT LIKE: Lagos, Abuja among the cheapest African cities to live in

6. Ogudu GRA (Kosofe)

Ogudu GRA is a well-planned, upscale neighbourhood on the Lagos Mainland. Its strategic location and serenity make it ideal for professionals and families.

Rental Prices:
- 3-bedroom apartments: ₦3 million – ₦7 million+ per annum
- 4-bedroom terraced duplexes: ₦12 million (new units)
- 5-bedroom homes: ₦7 million – ₦20 million
Sale Prices:
- 3-bedroom: ₦100 million – ₦500 million
- 4-bedroom: ₦200 million – ₦550 million+
- 5-bedroom: ₦300 million – ₦700 million