With the desire and demand for luxury real estate growing in Nigeria, it is no wonder the prices for owing homes in some of the best luxury real estate locations in the country keeps getting higher. These luxury real estate locations in Nigeria can be found mostly in Abuja and Lagos.
Most residents can only dream to own properties in these locations as they are mainly demanded by the upper class, the expatriates, as well as the creme de la creme of the society.
Below is a list of the top 5 most expensive luxury real estate locations in Nigeria:
1. Banana Island, Lagos
Banana Island, is an area of Ikoyi, Lagos known for its wealthy and multi-cultural aura. This area has some of the most expensive real estates in Nigeria as it houses some of the most expensive houses in Nigeria. It has one of the highest density of millionaires within its boundaries. It is home to the likes of Mike Adenuga, Iyabo Obasanjo, Sayyu Dantata and a host of other elites.
This island is beautifully designed with well-laid lawns, beautiful flowers, and well-paved roads. The quietude and the untainted environment is a major attraction as well.
A property in Banana Island can go for as high as N700Million and above. Renting a three bedroom apartment in this area can go as high as N15Million per annum and above.
Banana Island is a man-made island and is curved in the shape of a banana hence the name. The banana-shaped island is approximately 1,630,000 square meters in size and it has been zoned into 536 plots consisting of 100 closes, which serve to enhance the banana shape of the island.
Residents are provided world class utilities including underground electrical systems, an underground water supply network, central sewage system and treatment plant, street lighting and satellite telecommunications networks, as well as overhead and storm water covered drainage. All of these add up to make the cost of living in Banana Island, all the more expensive. One of the most outstanding features of the island is the Ocean Parade Towers rising into the sky at eight floors with a penthouse.
2. Maitama, Abuja
Maitama is one of the major districts of Abuja, it is in the phase 1 development plan of the federal capital territory. Maitama is one of the prestigious areas in Abuja. The area is home to most embassies and high commissions. It is an exclusive and expensive area where Nigeria’s big-shots reside.
Most people who live in Maitama are diplomats, ministers, government functionaries, former or serving governors and their families, senators or big time contractors. The Dome, Independent National Electoral Commission, Nigerian Communications Commission, British Council, Transcorp Hilton and the Minister’s hill are some of the distinguishing places in Maitama.
A property in Maitama can go as high as N600million or more.
3. Asokoro, Abuja
One of the major districts in Abuja, Asokoro is an upscale, secured and high-class area. This haven for serving ministers and top government officials is recognized as Abuja’s most exclusive district.
One of the stand points of this area which easily makes it our hottest zone is its strategic location. Asokoro houses the Economic Community of West African States, (ECOWAS) secretariat, National Intelligence Agency, World Health Organization (WHO) Office as well as the Aso rock, making it close to been the seat of power not only in Nigeria but the entire West African region.
Properties in Asokoro can go for as high as N500Million and above.
Jabi located in Abuja sure has the eye and the interest of Many Nigerian politicians and the upper class, little wonder a property in this area can go for as high as N400Million and above.
5. Nicon Town, Lagos
Nicon Town located in Lekki is one of the emerging real estate markets in Lagos. A property in Nicon Town, Lekki can go for as high as N380million and above.