Places With The Best Real Estate in Nigeria 2024: Top 10

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Real estate in Nigeria is currently one of the most profitable investments. In this article, you would see the places with the best real estate in Nigeria.

Real Estate in Nigeria

op 10 Best Real Estate Locations in Nigeria

1. Banana Island in Lagos (Lagos State) – N450Million ($2.81Million)

A 3-bedroom apartment typically sells for N100Million ($625,000) here and N450Million ($2.81Million) for a 5-bedroom house.

Apparently, due to the cost of acquiring properties, rental properties are very popular, with rent for a 3-bedroom apartment even going as high as N10Million ($63,000) per annum.

A man-made island in Lagos State, Nigeria that is slightly curved in shape – like a banana, Banana Island is located in the Lagos Lagoon.

It has one of the highest density of millionaires within its boundaries, with billionaire Globacom Chairman Mike Adenuga, daughter of a former president of Nigeria, Iyabo Obasanjo are proud owners of property on the island.

Son of late MKO Abiola, Kola Abiola, and Saayu Dantata – Son of late Alhassan Dantata are other notable residents of the Island.

2. Asokoro in Abuja (Federal Capital) – N418Million/$2,612,500

One of the major districts in Abuja, Asokoro is a high-class area; home to state house, Aso Rock, the secretariat of the Economic Community of West African States, (ECOWAS), National Intelligence Agency (NIA), and the World Health Organization (WHO) office, among others. Property ‘understandably’ cost a fortune in this area.

3. Maitama in Abuja (Federal Capital) – N430Million/$2,687,500

Property in Maitama costs close to $2.7 million or more. An area occupied by embassies and high commissions, as well as the crème de la crème of the society, Maitama sure deserves its second place on this list.

4. Nicon Town in Lekki (Lagos State) – N320Million/$2,000,000

Nicon Town in Lekki is one of the budding real estate markets in Lagos now, with property in excess of $2 million.

5. Jabi in Abuja (Federal Capital) – N400Million/$2,500,000

Nigeria’s capital city comes in at number 4 with the property at Jabi costing at least $2.5 million. Many Nigerian politicians have interests in this area.

6. GRA Phase 2 in Port Harcourt (Rivers State) – N145Million/$906,250

Port Harcourt is home to a lot of expatriates, many of who work for oil companies in the oil-rich city. If there are people who can afford property close to a million dollars, they sure can.

Many South-South billionaires who just don’t want their money out of their region also spend so much on the property in the city.

7. Ikeja GRA, in Ikeja (Lagos State) – N250Million/$1,562,500

Many wealthy Nigerians who love the quiet life the GRA offers crave property in this area and don’t mind they have to part with money in the excess of $1.5 million to get the comfort they want. You’d find several ex-pats here too.

8. Lekki Scheme I, Lekki (Lagos State) – N140Million/$875,000

With $875,000, you can get a property in Lekki. The Island has been home to some of the most expensive property in Lagos in recent times, but the demand for more luxury has pushed it down to eight on this list.

9. Alalubosa GRA in Ibadan (Oyo State) – N100Million/$625,000

Ibadan, Africa’s second-largest city has been regarded by some as the most under-developed city in the world, but the city has started living to its potentials in the past few years, little wonder it made it to this list.

10. Ibara in Abeokuta (Ogun State) – N80Million/$500,000

Abeokuta’s real estate market is growing fast as people look to outlying locations outside Lagos, as high prices are forcing many out of the real estate space in Lagos.