Eko Atlantic Land Prices Soar Past ₦2 Billion — A New Peak in Lagos Real Estate
Lagos’ luxury real estate market has reached a historic milestone, with land prices in Eko Atlantic now exceeding ₦2 billion per plot.
This marks a staggering increase from early 2000s figures, when plots sold for around ₦180 million. The trend highlights over a decade of exceptional capital appreciation in Lagos’ high-end property market particularly for investors who bought in early.
The report also shows similar upward movements across other hotspots:
In Ibeju-Lekki, land that sold for ₦500,000–₦1.5 million in 2013 now commands ₦25–₦40 million.
In Lekki Phase 1, plots priced at ₦10 million in 2005 now go for ₦400–₦500 million.
Behind this surge is a mix of strong population growth, nearly 24 million residents in Lagos and an influx of new settlers, with 6,000+ people migrating to the city daily, many choosing to stay permanently. As demand rises, so does the appetite for premium living.
Luxury estates in Lagos continue to offer more than just residential comfort, they reflect status, lifestyle, and global living standards. Features like smart home automation, wellness facilities, helipads, and waterfront views are now the norm in prime areas like Banana Island, Ikoyi, and Victoria Island.
With limited land supply and increasing demand, the report concludes that Lagos real estate, especially in zones like Eko Atlantic, is solidifying its position as a long-term wealth creation asset both for local investors and Nigerians in the diaspora.
