Eko Atlantic: Where land now sells for over N2 billion per plot

• Land prices successful Lagos person seen monolithic increases implicit the past decade, turning existent property into a large root of wealth
• Several factors, including accelerated urbanisation, colonisation increase, and large infrastructure projects, thrust this growth
• High-end properties present connection world-class amenities and are seen arsenic presumption symbols, attracting some affluent locals and diaspora investors

Legit.ng writer Victor Enengedi has implicit a decade's acquisition covering Energy, MSMEs, Technology, Banking and the Economy.

Land that utilized to outgo astir N180 cardinal successful Eko Atlantic successful the aboriginal 2000s is present worthy implicit N2 billion, according to the 3rd variation of the State of Lagos Housing Market report.

This shows however accelerated onshore prices, particularly successful apical locations by the coast, person grown successful Lagos.

Eko Atlantic, which is located successful Lagos, is seen arsenic a hub for luxury surviving and concern opportunities. Photo recognition - Lagos authorities government, Eko Atlantic
Source: UGC

According to Punch, the study explains that implicit the past 10 years, the existent property marketplace successful Lagos has changed a lot, particularly successful luxury areas.

What utilized to beryllium affordable onshore has go costly and highly competitive. This maturation has been influenced by the economy, rising population, and large infrastructure projects.

According to the report, 1 wide illustration is Ibeju-Lekki. In 2013, onshore determination was sold for astir N500,000 to N1.5 million. By 2018, prices roseate from N5 cardinal to N10 cardinal arsenic projects similar the Lekki Free Trade Zone began.

By aboriginal 2025, onshore prices successful the aforesaid country had accrued to betwixt N25 cardinal and N40 million, a important emergence successful conscionable 10 years.

According to the report:

"Similarly, plots successful Lekki Phase 1 that were priced astatine N10m – N15m successful 2005 are present valued astatine implicit N400m – N500m. Land prices successful Eko Atlantic, which stood astatine N180m per crippled successful the aboriginal 2000s, person besides escalated to implicit N2bn today."

These terms hikes amusement that buying onshore successful Lagos has go a large mode to turn wealth.

The study besides notes that this maturation isn't conscionable due to the fact that people request homes—many affluent investors, including Nigerians surviving abroad, spot luxury existent property arsenic a harmless and profitable investment.

This is particularly existent for those consenting to clasp onto their onshore for a agelong time.

Why Eko Atlantic?

Lagos Eko Atlantic properties are highly sought aft owed to their premier location, modern infrastructure, and imaginable for semipermanent concern returns.

Situated successful Victoria Island, the improvement offers proximity to cardinal business areas, planetary airports, and the seaport.

Investors are drawn by the taxation incentives from being wrong a Free Trade Zone and the area’s quality to pull multinational corporations.

The metropolis boasts state-of-the-art amenities specified arsenic autarkic powerfulness supply, discarded absorption systems, and unafraid surviving environments.

With its high-value properties, waterfront views, and promising aboriginal growth, Eko Atlantic is seen arsenic a hub for luxury surviving and concern opportunities.

Legit.ng had antecedently reported that celebrities such arsenic Davido, on with large Nigerian Stock Exchange-listed companies like FirstBank, MTN Nigeria, and Dangote, are making moves to relocate their office to Eko Atlantic.

Factors causing accelerated landed plus growth

The study explained that the crisp emergence successful the worth of luxury existent property successful Lagos implicit the past 10 years is owed to a premix of intimately related factors.

Urban growth: Lagos present has astir 24 cardinal people, increasing by astir 2.5% each year. Over 6,000 radical determination to Lagos daily, and galore take to stay. This pushes up the request for homes, including costly ones.

High-end features: Even though Lagos has infrastructure challenges, luxury homes often travel with world-class features similar astute technology, backstage gyms, pools, and sometimes adjacent helipads and play courses (such arsenic successful Banana Island).

Modern designs: Luxury homes travel successful a assortment of styles—from modern, unfastened designs with ample windows to accepted homes that bespeak Nigerian culture. Inside, they’re equipped with high-end finishes similar Spanish tiles, imported bath fittings, and astute location systems.

Prestige and lifestyle: Places similar Banana Island, Ikoyi, Lekki Phase 1, and Victoria Island are seen arsenic symbols of wealthiness and success. Living determination offers societal status, waterfront views, fancy shopping, good dining, and entree to concern centres.

The Lagos Eko Atlantic is accelerated becoming the residential determination for Nigeria's super-rich. Photo recognition - Eko Atlantic
Source: UGC

This study was published by the Roland Igbinoba Real Foundation for Housing and Urban Development. Earlier editions came retired successful 2009 and 2016.

Things to see earlier buying land

Legit.ng had antecedently highlighted some important factors that buyers indispensable see erstwhile purchasing onshore successful Lagos.

While the property's determination and terms whitethorn beryllium enticing, determination are respective important aspects to measure earlier making a purchase, careless of the intended use.

Key considerations see reviewing the property's rubric papers and knowing the applicable onshore usage regulations, among different indispensable factors.

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng