Authored by the expert who managed and guided the team behind the Nigeria Property Pack
Yes, the analysis of Lagos' property market is included in our pack
Where are the best places to invest in Lagos right now? Is Victoria Island still the top pick, or are areas like Lekki, Ikeja, and Yaba gaining ground? What makes these locations attractive to both local and foreign investors?
We’re often asked these questions because we work directly with real estate agents, developers, and clients who invest across the city. Our firsthand experience in these markets gives us unique insights into where the real opportunities lie. To save everyone from asking privately, we’ve written this article to share our knowledge broadly.
Our goal is to highlight the hottest markets in Lagos and explain why they’re worth your attention in 2025.
If you have suggestions or want us to dive deeper into a specific area, let us know. You shoot an email, we answer within 24 hours.
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1) Lekki Phase 1 is booming with rapid property appreciation due to upscale developments and growing commercial activities
Lekki Phase 1 is quickly becoming a prime spot for property investment due to its upscale developments and vibrant commercial scene.
Property prices here have soared, with two-bedroom homes now costing between 70 to 100 million Naira, and larger properties fetching even more. This trend highlights the high return on investment that investors can expect, making it a hot choice for those looking to invest.
The area is buzzing with demand from both local and international investors who are drawn to its modern amenities and luxurious lifestyle. High-end residential estates and luxury apartments are popping up, alongside new shopping malls and commercial centers, enhancing the quality of life and boosting the area's appeal.
Improved infrastructure, like contemporary road networks and drainage systems, has made Lekki more accessible and desirable. The strategic location between Victoria Island and Epe has attracted multinational companies and corporate offices, further energizing the commercial activities in the area.
With a growing number of upscale restaurants and entertainment venues, Lekki Phase 1 offers a lifestyle that's hard to resist. This corporate and lifestyle synergy is a major draw for potential investors looking for a vibrant community.
Sources: African Land, Superite Africa, City Stunner
2) Sangotedo is gaining attention with its new infrastructure projects and residential developments, offering promising returns
Sangotedo is quickly becoming a real estate hotspot in Lagos, Nigeria.
Thanks to major infrastructure projects and new residential developments, property values in Sangotedo have been on the rise. This upward trend is fueled by rapid development and a growing demand for housing, making it a promising spot for real estate investment.
The Lagos State Government has been a key player in this growth. In 2024, they dedicated a big chunk of their budget to infrastructure, focusing on transportation and affordable housing. These improvements have made the area more accessible, which is expected to spur even more development.
New residential and commercial projects are popping up all over Sangotedo. The area is buzzing with new estates, shopping centers, and entertainment venues, drawing in both investors and residents. Its closeness to popular spots like Lekki and Victoria Island adds to its appeal, offering a mix of affordability and convenience.
For those looking to invest, Sangotedo offers a unique opportunity. The ongoing developments promise good returns, especially as the area continues to grow and attract more people.
Sources: MKH Properties, Nairametrics, Land Property, PWAN Stars
We have made this infographic to give you a quick and clear snapshot of the property market in Nigeria. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
3) Maryland is gaining interest for its strategic location and modern residential estates, driving property value growth
Maryland is becoming a hot spot for living and investing due to its prime location in Lagos.
Located along Ikorodu Road, Maryland offers easy access to both the mainland and the island, making it ideal for residents and businesses alike. This strategic positioning means you can enjoy the best of both worlds—urban convenience and suburban tranquility.
Getting around is a breeze with major roads and public transport options, including the Maryland BRT station, which serves as a key commuter hub. The Lagos State government's infrastructure investments further boost the area's appeal, enhancing its livability.
New residential estates and gated communities are popping up, transforming Maryland into a sought-after residential area. These developments are not just changing the skyline; they're also driving up property values.
Expect property prices to rise by 5% to 10% in 2025 compared to 2024, thanks to high demand and limited supply. This trend makes Maryland an attractive option for those looking to invest in real estate.
With its strategic location and modern developments, Maryland is quickly becoming a prime choice for property buyers in Lagos.
Sources: Naija Spider, YouTube, Global Property Guide
4) Gbagada is popular for its accessibility to Lagos Island and affordable homes, attracting middle-income earners
Gbagada is gaining popularity because it's easily accessible to Lagos Island.
Thanks to the Gbagada – Oworonshoki Expressway, residents find commuting to the bustling business districts of Lagos Island a breeze. This expressway is a lifeline for those who work on the island but prefer a quieter home base.
Gbagada's charm also lies in its affordable housing options. Unlike pricier neighborhoods like Ikoyi, Victoria Island, and Lekki, Gbagada offers more budget-friendly properties, making it a sweet spot for middle-income earners.
Infrastructure in Gbagada is on the rise, with projects like The Maverick Estate leading the charge. This development has secured substantial funding to enhance local amenities, including roads, drainage, and electrification, which are all set to boost the area's appeal.
These improvements are not just about convenience; they are transforming Gbagada into a more livable and attractive community. Residents can look forward to better connectivity and a more comfortable living environment.
For those seeking a balance between city life and affordability, Gbagada is becoming a top choice. Its strategic location and ongoing developments make it a smart investment for potential homeowners.
Sources: Medorf Solutions, Real Estate Market Blog
5) Magodo is in demand for its secure estates and closeness to major business districts, boosting property interest
Magodo is a top choice for property buyers in Lagos due to its secure estates and proximity to major business districts.
Imagine living in a place where gated communities offer 24/7 security with patrols and CCTV surveillance. This makes Magodo a favorite among families, professionals, and investors who crave both luxury and convenience.
Being close to Ikeja, Ojodu Berger, and the Lagos mainland business districts means commuting to work is a breeze. This strategic location not only saves time but also enhances the convenience of living in Magodo.
Property values in Magodo have been on the rise, with increases similar to high-profile areas like Ogudu and Banana Island. This growth reflects the area's desirability and potential for investment.
Located off the Lagos-Ibadan Expressway, Magodo offers easy access to major parts of Lagos, including Ikeja, Victoria Island, and Lagos Mainland. This accessibility is a major perk for those who want city life without the chaos.
Families find Magodo appealing due to its top-tier educational and healthcare facilities, making it an ideal place to settle down.
Sources: NaijaSpider Blog, NIESV Lagos Branch, The Africanvestor
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6) Surulere is gaining interest for its central location and affordable property prices, appealing to young professionals and families
Surulere is a hotspot in Lagos, famous for its central location and affordable property prices.
Living in Surulere means you’re right in the heart of Lagos, with easy access to key areas thanks to roads like the Lagos-Badagry Expressway. This makes it super convenient for getting around, especially with major transport hubs like Ojuelegba nearby. It's no wonder young professionals and families are flocking here.
Renting in Surulere is a smart move if you're budget-conscious. A 2-bedroom apartment here costs between ₦800,000 and ₦1,500,000 per year, which is a steal compared to places like Victoria Island, where rents can skyrocket to ₦5,000,000. This affordability is a big draw for those looking to save without sacrificing location.
The area is buzzing with a mix of residential calm and commercial energy, making it perfect for families and young professionals. Surulere is seeing a wave of urban renewal, with private developers bringing in high-rise buildings and modern amenities. This transformation is adding a fresh vibe to the neighborhood.
Surulere's diverse community is a blend of cultures and lifestyles, offering a rich tapestry of experiences. The ongoing development projects are not just about buildings; they’re about creating a vibrant community with everything you need close by. This makes Surulere a prime spot for both living and investing.
Sources: NaijaSpider, Northcourt Real Estate
7) Ajah is attracting interest with its affordable property prices and potential for appreciation as infrastructure improves
Ajah is catching the eye of middle-class families and young professionals looking for affordable and comfortable living.
With its lower property prices compared to areas like Lekki or Victoria Island, Ajah is becoming a hotspot for real estate investors seeking high returns. The area offers a unique opportunity for those wanting to invest without breaking the bank.
The Lagos state government is actively working on infrastructure improvements in Ajah, including road expansions and new bridges. These developments are set to enhance property values and attract more interest from potential buyers.
One of the key projects, the completion of the Lekki-Epe Expressway, has already improved connectivity, making Ajah more accessible and appealing. This has been a game-changer for the area, drawing in both residents and investors.
As infrastructure continues to improve, Ajah's potential for future appreciation becomes even more promising. The ongoing developments are not just about better roads but also about creating a more livable and attractive environment.
For those considering a move or investment, Ajah offers a blend of affordability and growth potential, making it a smart choice in the current market landscape.
Sources: The Africanvestor, Krent Real Estate News, Lagos Property
8) Victoria Island is a prime market with high demand for office and residential spaces as a commercial and financial hub
Victoria Island is a top choice for property buyers in Lagos, Nigeria, thanks to its bustling commercial and financial scene.
With its prime location, multinational companies flock to Victoria Island for office spaces. They are drawn by the modern facilities offered by providers like Easy Offices, which cater to their business needs. This influx of businesses keeps the demand for commercial spaces high, further boosted by the presence of major financial institutions and corporate headquarters.
For those eyeing residential properties, Victoria Island is equally appealing. Rental yields here hover around 6.5%, making it a lucrative spot for investors. Its strategic location near business districts, shopping centers, and beaches makes it a magnet for both living and working.
In recent years, particularly 2023 and 2024, house prices in Victoria Island have been on the rise. This trend highlights its desirability and the potential for solid investment returns. The area's reputation as a commercial hub ensures that both office and residential spaces remain in high demand.
Victoria Island's appeal isn't just about business; it's also about lifestyle. Proximity to amenities like shopping centers and beaches adds to its charm, making it a sought-after location for both work and leisure.
Whether you're looking to invest in office spaces or residential properties, Victoria Island offers a unique blend of business opportunities and lifestyle perks, ensuring it remains a prime market in Lagos.
Sources: Nigeria Property Centre, Easy Offices, PWAN Stars
We made this infographic to show you how property prices in Nigeria compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
9) Ogudu is gaining attention for its serene environment and new gated communities, boosting property appeal
Ogudu is quickly becoming a sought-after location for property buyers.
In recent years, land prices in Ogudu have skyrocketed by 275%, making it a prime spot for those looking to invest in Lagos. This surge in property values is drawing in investors and homebuyers eager for promising returns. The area’s growth is not just about numbers; it’s about the lifestyle and opportunities it offers.
One of the standout features of Ogudu is the development of gated communities. These modern estates, especially in Ogudu GRA, come with state-of-the-art amenities and enhanced security. For affluent buyers, these communities offer a blend of safety and luxury, making them highly desirable. The presence of such communities is transforming Ogudu into a more attractive and secure place to live.
Infrastructure improvements are also a game-changer for Ogudu. The new dual carriageway bridge, unveiled by the Governor of Lagos State, links Ogudu to Alapere and has significantly improved connectivity. This development reduces traffic congestion, making commuting easier and more convenient for residents. Such enhancements are a big draw for potential buyers.
Moreover, the Lagos State government is not stopping there. Ongoing projects, like the expansion of the Third Mainland Bridge, are set to further boost Ogudu’s appeal. These infrastructure upgrades are crucial in making the area more accessible and livable, adding to its growing reputation.
Ogudu’s serene environment and the rise of gated communities are key factors in its increasing popularity. The area is becoming a haven for those seeking a peaceful yet connected lifestyle, with the added benefit of modern amenities and security.
Sources: Guardian, PM News Nigeria, Titan Resources Limited
10) Ikoyi is thriving with luxury real estate and strong demand from expatriates and high-net-worth individuals
Ikoyi is a hot spot for luxury real estate, with property values soaring by 113% between 2021 and 2023.
In 2023 and 2024, house prices in Ikoyi stayed high, ranging from ₦773,270,000 to ₦895,160,000, attracting affluent buyers eager for premium properties.
Over 600 premium apartments, each valued at USD1 million, are under construction, driven by demand from high-net-worth Nigerians and expatriates.
Ikoyi's appeal is boosted by its proximity to business districts and high-end infrastructure, making it a top choice for luxury living.
International schools and amenities tailored for expatriates add to Ikoyi's charm, ensuring steady demand for luxury homes.
With its blend of luxury and convenience, Ikoyi remains a preferred location for both local and international buyers.
Sources: Arise TV, Nigeria Property Centre, Business Empires Africa
11) Yaba is booming with its closeness to tech hubs and universities, boosting rental demand
Yaba is a thriving real estate hotspot thanks to its proximity to major tech hubs and universities.
Often dubbed "Yabacon Valley," this area is buzzing with tech startups and companies like Co-creation Hub and NG_HUB, which are pioneers in innovation. These tech incubators, such as CcHUB, have been around since 2011, nurturing countless ideas and companies and creating hundreds of jobs.
This vibrant tech scene naturally draws more tech-enabled startups, which in turn boosts the demand for rental properties in the area. The influx of tech professionals looking for housing options is a testament to Yaba's growing appeal.
Yaba is also home to major educational institutions like the University of Lagos and Yaba College of Technology. These schools attract a large student population, leading to a high demand for student accommodation. The need for housing is further amplified by students seeking to live close to their campuses.
With a growing student population, the demand for rental properties is on the rise, making Yaba a prime location for real estate investment. The area's unique blend of tech and education creates a dynamic environment that continues to attract both investors and renters.
Sources: African Leadership Magazine, Knight Frank Lagos Market Update, Nigeria Real Estate Market Review
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.