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.

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.

RELATED: 10 things that instantly make your house look expensive

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.

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.

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.

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

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

Nearby Landmarks include Ikeja City Mall, Ndubuisi Kanu Park, Lagos Country Club, and Johnson Jakande Tinubu Park.

Ikeja GRA remains the Mainland’s most prestigious estate, with large detached homes and tree-lined streets.

• Rental Prices:

  • 3-bedroom units: ₦12 million – ₦35 million

  • 4-bedroom: ₦15 million – ₦30 million

  • 5-bedroom duplexes: ₦18 million – ₦50 million

• Sale Prices:

  • 3-bedroom flats: ₦290 million – ₦450 million

  • 4-bedroom duplexes: ₦400 million – ₦600 million

  • 5-bedroom detached: ₦820 million – ₦1.7 billion

  • Multi-unit blocks: up to ₦2.3 billion

Nearby Landmarks include Murtala Muhammed International Airport, Ikeja City Mall, Reddington Hospital, Radisson Blu Hotel, and Alausa Secretariat.

EXPLORE: 10 expensive books worth more than some mansions

Located along Mobolaji Bank Anthony Way, Shonibare Estate is a peaceful gated community with strong appeal for expatriates and executives.

• Rental Prices:

  • 3-bedroom duplexes: ₦10 million – ₦20 million

  • 4-bedroom units: ₦12 million – ₦40 million

  • 5-bedroom homes: from ₦13 million per annum

• Sale Prices:

  • 3-bedroom detached duplex: ₦420 million – ₦500 million

  • 3-bedroom maisonettes: ₦270 million

  • 4–5 bedroom villas: ₦250 million – ₦1 billion+

Nearby Landmarks include Sheraton Lagos Hotel, Murtala Muhammed Airport, Maryland Mall, and Ikeja City Mall.

Magodo GRA Phase 2 in Kosofe LGA is one of the most expensive estates on the Mainland. Once reserved for civil servants, it’s now home to upper-middle-class professionals.

• Rental Prices:

  • 3-bedroom duplexes: ₦6 million – ₦20 million

  • 4-bedroom: ₦9 million – ₦18 million

  • 5-bedroom: ₦13 million – ₦25 million

• Sale Prices:

  • 3-bedroom houses: ₦150 million – ₦400 million

  • 4-bedroom duplexes: around ₦650 million

  • 5-bedroom: ₦450 million – ₦700 million

Nearby Landmarks include CMD Road, Omole Phase 1, Ndubuisi Kanu Park, and Lagos State University Teaching Hospital (LASUTH).

Victoria Garden City (VGC), along the Lekki–Epe Expressway, is one of Lagos’ earliest planned luxury estates. It remains a symbol of order, beauty, and family living.

• Rental Prices:

  • 3-bedroom homes: ₦5.5 million – ₦13 million

  • 4-bedroom: ₦6 million – ₦14 million

  • 5-bedroom: ₦15 million – ₦18 million

• Sale Prices:

  • 3-bedroom: ₦120 million – ₦220 million

  • 4-bedroom: ₦135 million – ₦500 million

  • 5-bedroom duplexes: ₦300 million – ₦650 million

  • High-end terraces: ₦1.6 billion

Nearby Landmarks include VGC Shopping Mall, Shoppers Place, Novare Lekki Mall, and Sky Mall Sangotedo.

RECENT: Why #JusticeForOchanya Is Trending Again, 7 Years After Her Death