Lagos is one of the most expensive cities to live in Nigeria. In recent years, property and living costs have risen tremendously. The development of Lagos into a metropolis city has seen an upswing in the cost of property. Expensive estates are springing up in all parts of the city.

Individuals can choose between living on the mainland or the island of Lagos, meanwhile, most wealthy people choose the island’s serenity and high life status. Regardless, there are still top-notch areas on the mainland that can match the properties and environment on the island but in this post, we’ll take a look at the most expensive estates in Lagos.

1. Banana Island, Ikoyi

Banana Island is one of the most expensive to live in or own a property. Having one of the highest densities of millionaires, it is home to notable people like Mike Adenuga, Iyabo Obasanjo, Linda Ikeji, and Kola Abiola, to mention a few.

Banana Island is a man-made island shaped like a banana, hence its name, approximately 1,630,000 square meters. To enhance the banana shape of the island, it is sectioned into 536 plots consisting of 100 closes. It is located in Ikoyi, Lagos, and is popularly known for its wealth, multicultural ambience, and beautiful layout. The major attractions of this island are the beautifully designed lawns, excellent roads, serenity, clean environment, and world-class utilities.

2. Oniru Estate, Victoria Island

Oniru Estate, named after the ruling family of the area, is located in the heart of Victoria Island. The estate is mostly residential and houses the Oba Oniru Palace. Oniru estate has several other smaller estates including Crown Court Estate (1 & 2), Mabel’s Court, Tofarati Court, Crescent Park Estate, Philipanni Court, and Demville Court. Oniru also called Maroko is bordered by various landmarks like Palms Mall, Four Points by Sheraton Hotel, Landmark Centre, etc.

Residents are sure to fall in love with its quiet residential area, proximity to various places of interest, less traffic inside the estate, and luxurious amenities. Purchasing a block of flats, three/five-bedroom flat, townhouse or detached house in this area costs as low as N20,000,000 to as high as N800,000,000 and annual rent for a 4-bedroom costs N4 million – N7.5 million.

3. Parkview Estate, Ikoyi

Located in Ikoyi, this estate is bordered by Banana Island and Gerrard Road. Parkview Estate is a deluxe suburb, majorly residential with few guesthouses and offices, consisting of respected, high-class personalities, in the likes of Musiliu Obanikoro, Olu Okeowo, and Amaju Pinnick.

Parkview estate boasts of about 400 buildings with more still under construction. One of the major attractions of this area is its top-level security system as there has been no case of theft or otherwise in the past decade. The area is clean, peaceful, and designed to suit every resident and property owner. Properties in Parkview go for as high as N1 Billion, and as low as N50 Million, depending on the type of property you want to rent or purchase. Rent for a 3-bedroom flat costs about N7 Million.

4. Shonibare Estate, Maryland

This estate is located in the heart of Maryland and bordered by Ikeja. Sitting on large acres of land, Shonibare Estate is one of the exquisite residential estates to live in or own a property, on the Lagos mainland. The estate attracts and keeps buyers calm due to its security advantage as it has proximity to the Ikeja cantonment. Shonibare Estate is owned by Late Chief Samuel Olatubosun Shonibare of Shonny Investment and Properties Limited and was built in 1959. The gated, highly residential estate is popularly known as the “Banana Island of Lagos Mainland”  because of its calm ambience with well-paved roads, outstanding architecture, and first-rate amenities. A property for sale in this area can go as high as N300 Million and it is home to many top executives and directors in Nigeria. A 3-bedroom flat would cost between N2 Million to N3 Million.

5. Amen Estate, Lekki

Built to a luxurious taste and standard, competing with top estates in Nigeria, Amen Estate, located in the Ibeju Lekki axis of the Lekki Peninsula, is home to notable A-List actress Funke Akindele. It is beautiful, with a mix of tradition and modern culture, boasting of leisure utilities like a gym, swimming pool, tennis court, leisure park, open-air market, a community centre for events, and playground for kids. There is the availability of light, water, good roads, integrated CCTV, waste management services, etc., all of these cost about N150 Million.

6. Orchid Estate, Ikeja GRA

Orchid Court Estate is situated in Ikeja G.R.A. This residential estate is one of the most expensive estates in Lagos. Its architecture is of European standard and it offers seven different types of residential units, each with its unique arrangement. Buyers are attracted to this estate due to its security, serene spatial environment, and a very secure title with an unexpired residue of 99 years. Properties in this estate cost between N100 Million – N150 Million. A 3-bedroom flat would cost between N2 Million to N3 Million.

7. Grenade Homes, Citiview Estate in Magodo

This private estate sets a benchmark in infrastructure and utilities. Grenadines Homes Citiview Estate is covered by a Global Certificate of Occupancy, attracting buyers to its domain. It is of high quality, with proximity to commercial, residential, administrative, recreational, and other areas of interest. It also boasts of high-level security as it takes a five-minute drive from the estate to the Alausa Secretariat, Lagos seat of power, which is highly secured.

8. Chevy View Estate, Chevron Drive, Lekki

Another pricey estate in Lagos is Chevy View, this estate is located just opposite the head office of Chevron Nigeria Limited. The estate is not strictly residential as quite a several businesses are located within it. Most of the buildings are semi and fully-detached duplexes, costing as much as N100 Million. The estate is home to many upper-class families, top executives, and directors, and it attracts buyers because of its high property appreciation, environment, and provision of basic social amenities. To rent a 3 bedroom Flat in this estate would cost N2 million – N2.5 million.

9. Pinnock Beach Estate, Lekki

10. Friends Colony Estate, Lekki

Friends  Colony estate is located in the Agungi/Osapa area of Lekki. It boasts quality infrastructure, well-paved roads, drainage systems, clean environments, beautiful lawns, proper management of waste, 24-hour patrol security, and 24-hour electricity. Friends Colony Estate was developed by Aircom Nigeria which is popular for doing top-notch jobs.

Aside from the exquisite amenities of the estate, what attracts buyers is the easy access to its domain, taking just about one hour from the Osapa road, and proximity to various schools, hospitals, pharmacies, and other places of interest. The estate has various duplexes ranging from semi-detached and detached types, costing about N4,000,000 for rent and N70,000,000 to N90,000,000 for purchase. Residents also pay a service charge of N24,500 monthly for maintenance and sanitation.