Eko Atlantic has emerged as the strongest performer in Lagos’ luxury residential property market, recording a 59.5 per cent sales growth rate over the last five years, according to data compiled by Estate Intel.
The report revealed that prime luxury residential assets across Lagos delivered robust sales price growth in naira, averaging between 38 per cent and 60 per cent annually. This performance was driven largely by sustained demand from high-net-worth individuals and the limited supply of premium properties in ultra-prime districts.
While Eko Atlantic led the rankings, other elite neighbourhoods also posted impressive gains. Ikoyi followed closely with 58.14 per cent growth, reflecting its long-standing appeal to affluent buyers. Banana Island recorded 55.30 per cent, supported by its scarce waterfront properties and exclusive residential offerings.
Victoria Island posted 45.04 per cent growth, highlighting strong demand within its mixed-use commercial and residential environment, while Oniru recorded 38.32 per cent, indicating steady but comparatively moderate appreciation in a district with a broader range of housing options.
According to Estate Intel, the figures reflect a widening gap between ultra-prime, master-planned districts and more mixed neighbourhoods, as investors continue to pay premium prices for scarcity, security, and lifestyle amenities. The firm noted that sustained demand, limited supply, and superior urban planning remain the key drivers of strong performance in ultra-prime locations.
Eko Atlantic’s dominance in Lagos’ luxury housing market is underpinned by its unique infrastructure, sophisticated regulatory structure, and investor-friendly environment, as highlighted in a previous interview with Tosin Soile, Managing Director of August Crossing Limited.
Drawing from his experience on the 16-storey Le Rêve project, Soile explained that Eko Atlantic’s attractiveness lies in its master-planned infrastructure, which includes:
- Uninterrupted power supply
- Reliable water systems
- High-speed internet
- Efficient drainage networks
- Climate-resilient reclaimed land
These features, he noted, provide a stable and sustainable foundation for high-rise luxury developments.
In addition, Eko Atlantic operates as a Free Zone, offering streamlined regulatory approvals, investor protections, tax incentives, and registered subleases backed by the Lagos State Government, giving buyers added confidence and legal security.
Projects such as Le Rêve, currently offered off-plan at prices starting from $550,000 for three-bedroom maisonettes and $730,000 for four-bedroom units, allow investors early market entry with options for interior customization. Soile disclosed that the total investment size of the project is about $25 million, underscoring the scale of capital required for luxury developments in Eko Atlantic.
Such large-scale developments typically involve a mix of local and international contractors, including piling specialists, structural engineers, architects, and quantity surveyors, ensuring adherence to global construction standards.
Combined with private security, professional facility management, and premium lifestyle amenities, these factors continue to sustain Eko Atlantic’s appeal to both local and international luxury property investors.
