Eko Atlantic leads Lagos luxury residential sales with 59.5% growth – Report

Eko Atlantic led Lagos’ luxury residential market, recording a 59.5% sales growth rate over the last five years, according to data compiled by Estate Intel.

The report highlighted that prime Lagos luxury residential assets delivered strong sales price growth in naira, averaging 38%–60% annually, driven by sustained high-net-worth demand and the scarcity of premium properties in ultra-prime districts.

While Eko Atlantic topped the list, other prime areas also posted impressive gains.

Ikoyi followed closely at 58.14%, reflecting its enduring appeal among affluent buyers, while Banana Island recorded 55.30% growth, driven by its scarce waterfront properties and high-end residences.

Victoria Island grew 45.04%, demonstrating strong demand in a mixed-use commercial and residential hub, whereas Oniru rose 38.32%, showing steady but comparatively moderate appreciation in a district with a broader mix of housing options.

The data illustrate a widening gap between ultra-prime, master-planned districts and more mixed neighbourhoods, as investors continue to pay premiums for scarcity, security, and lifestyle amenities. Estate Intel emphasized that sustained demand, scarcity premiums, and superior urban planning remain the key drivers of ultra-prime areas’ strong performance.

What you should know  

Eko Atlantic’s top position in Lagos’ prime luxury housing market is underpinned by the city’s unique infrastructure, sophisticated regulatory framework, and highly investment-friendly environment, as highlighted in an earlier interview Nairametrics conducted with Tosin Soile, Managing Director of August Crossing Limited.

Drawing on his experience with the 16-storey Le Rêve project, Soile discussed the attributes that make Eko Atlantic particularly appealing to investors and high-net-worth individuals seeking premium residential options.

• These include master-planned infrastructure, uninterrupted power, reliable water supply, high-speed internet, efficient drainage systems, and climate-resilient reclaimed land, which together provide a solid and sustainable foundation for high-rise residential developments.

• The city’s Free Zone status offers streamlined regulatory approvals, investment protections, tax incentives, and registered subleases backed by the Lagos State Government, giving buyers additional assurance and security.

• Projects like Le Rêve, offered off-plan at prices starting from $550,000 for three-bedroom maisonettes and $730,000 for four-bedroom units, provide investors the opportunity to enter the market early while customizing interiors. According to Soile, the total investment for the project is around $25 million, highlighting the scale of capital required for high-end developments in Eko Atlantic.

Such large-scale projects involve a blend of local and international contractors, including piling specialists, structural experts, architects, and quantity surveyors, ensuring global standards in construction.

Combined with private security, professional facility management, and premium amenities, these features help maintain a safe, functional, and high-quality living environment, explaining why Eko Atlantic continues to attract local and international luxury residential investors. (Nairametrics)