The Eko Atlantic land price has now surged beyond ₦2 billion per plot, marking a historic high in Lagos’ real estate market. According to the State of Lagos Housing Market Report (Volume 3), plots that sold for ₦180 million in the early 2000s now attract more than ten times that value.
This sharp rise highlights a decade of strong performance in the Lagos luxury property sector. Investors who entered early have seen extraordinary returns. The report, published by the Roland Igbinoba Real Foundation for Housing and Urban Development, shows consistent growth across high-demand areas in the city.
In Ibeju-Lekki, for example, land sold for just ₦500,000 to ₦1.5 million in 2013. By 2018, the price had reached ₦5 million to ₦10 million. As of the first quarter of 2025, the same plots now sell between ₦25 million and ₦40 million. Similarly, in Lekki Phase 1, plots priced at ₦10 million in 2005 now go for ₦400 million to ₦500 million. Yet, it is Eko Atlantic land prices that stand out, now exceeding ₦2 billion per plot.
The report reveals that Lagos real estate has become a reliable tool for long-term wealth creation. Luxury properties are no longer just homes; they are major investment assets. Many buyers are high-net-worth individuals, including Nigerians in the diaspora, seeking capital appreciation and prestige.
Population growth is a key factor. Lagos now has nearly 24 million residents. Over 6,000 people migrate to the city daily, and about half of them choose to stay. This migration drives high demand for both residential and luxury properties.
Despite wider infrastructural challenges, luxury estates in Lagos offer global-standard living. Smart home technology, private gyms, pools, home cinemas, and even helipads are common features. Some estates also offer concierge services, golf courses, and wellness centres. The design often blends modern architecture with premium materials such as Spanish tiles, glazed windows, and imported fittings.
Living in areas like Banana Island, Ikoyi, Victoria Island, and Lekki Phase 1 is about more than comfort. These locations represent prestige and financial success. Residents enjoy waterfront views, fine dining, upscale retail, and proximity to business hubs. This adds to the growing appeal of Lagos luxury real estate.
The report concludes that real estate in Lagos especially in prime areas like Eko Atlantic is a powerful vehicle for wealth growth. As the population rises and land becomes scarcer, Eko Atlantic land price trends are expected to continue upward.
