Top 5 Luxurious Estates in Nigeria

The real estate industry has exponentially grown in Nigerian just as it has in other parts of the country. Therein we note the top luxurious estates in the country and some of the celebrities who live there.

Top 5 Luxurious Estates in Nigeria

Over the years, real estate investment has proven to be one of the most profitable investments globally.

According to a forecast by wealth intelligence firm, Wealth-X, the number of High Net Worth Individuals with more than $30 million in investable assets will rise by 95,000 over the next decade. This means every year, there will be more people who want and can afford luxury properties.

Like in several real estate markets of the world where economic growth is shooting up or at least stable, demand for luxury real estate is rising in Nigeria, and so are the prices.

Here are the lists of Top 5 Luxurious Estates 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. Including billionaire Globacom Chairman Mike Adenuga, daughter of a former president of Nigeria, and Iyabo Obasanjo are proud owners of property on the island. Son of late MKO Abiola, Kola Abiola and Saayu Dantata, and Son of late Alhassan Dantata are other notable residents of the Island.

2. 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.

3. 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.

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

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

5. 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.

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