Eko Atlantic Drives 59.5% Growth in Lagos Luxury Property Sales

Eko Atlantic has strengthened its dominance at the pinnacle of Lagos’ luxury real estate market, recording a remarkable 59.5 per cent increase in sales over the past five years, a performance that underscores the growing appeal of ultra-prime, master-planned developments among affluent and diaspora investors seeking long-term value preservation and premium lifestyle offerings.

The finding was contained in a report by Estate Intel, which revealed that prime luxury residential assets in Lagos recorded strong sales price growth in naira, averaging between 38 per cent and 60 per cent annually over the five-year period under review.

According to the report, Eko Atlantic led the growth chart, followed closely by Ikoyi with a 58.14 per cent increase, reflecting its sustained attractiveness to high-net-worth individuals, while Banana Island recorded 55.30 per cent growth, driven largely by its limited waterfront plots and exclusive high-end residences.

Victoria Island posted a 45.04 per cent rise in luxury sales, buoyed by strong demand within its mixed-use commercial and residential environment, while Oniru grew by 38.32 per cent, showing steady but relatively moderate appreciation in an area characterised by a broader range of housing options.

The report noted that the figures highlight a widening gap between ultra-prime, master-planned districts and more mixed neighbourhoods, as investors increasingly pay premiums for scarcity, enhanced security, superior infrastructure, and lifestyle amenities.

“While Eko Atlantic topped the list, other prime areas also posted impressive gains, illustrating sustained demand, scarcity premiums, and the impact of superior urban planning as key drivers of strong performance in ultra-prime locations,” the report stated.

“Historical data show that land values in Lagos have consistently moved upward without significant reversals, underscoring real estate as a major vehicle for wealth accumulation, particularly for affluent and diaspora investors with long-term investment horizons,” it added.

An earlier report on the Lagos housing market further revealed that land prices in Eko Atlantic, which stood at about N180 million per plot in the early 2000s, have surged to over N2 billion today, reinforcing the transformation of Lagos’ luxury real estate sector into a highly competitive, premium investment destination driven by infrastructure growth, economic expansion, and investor confidence.