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Top 3 most expensive neighborhoods in Nigeria

All men are created equal but not all neighborhoods. Although there may be no such thing as a perfect neighborhood, some are actually very close to perfect. Stellar views, proximity to top shopping and dining, class, lifestyle match, low crime rate, walkability and so much more. These factors are the wings on which the price of properties in such neighborhoods soar.

With the average Nigerian’s eyes on the goal of home ownership and perhaps luxury, below are the top 3 most expensive neighborhoods in Nigeria.

Banana Island

Topping this list is Banana Island in Lagos state. Often called the Billionaire’s Haven, Banana Island is a man-made island, slightly curved in shape, like a banana, hence its name.  It is located in the Lagos Lagoon and is connected to Ikoyi Island by a dedicated road which is linked to the existing road network near Parkview Estate.

The island was constructed by the Lebanese-Nigerian Chagoury Group in partnership with the Federal Ministry of Works and Housing and is considered to be on par with the Seventh Arrondissement in Paris, La Jolla in San Diego, and Tokyo’s Shibuya and Roppongi neighborhoods.

It is home to successful business moguls, politicians and celebrities.  Banana Island is Nigeria’s most extravagant and expensive neighborhood and a plot of land can be sold for as high as N500, 000,000.00 (Five hundred million naira only) or more. A 3-bedroom flat can be rented for as high as N15, 000,000.00 (Fifteen million naira only) per annum while a 4-bedroom terraced duplex can be rented for as high as N22, 000,000.00 (twenty two million naira only) per annum. Banana Island’s luxury and magnificence is indeed unrivalled.


Asokoro District

The second neighborhood on our list is Asokoro in Abuja. The highbrow and very secure area is one of the major districts in Abuja. The district is home to most past and serving ministers, top government officials and politicians.

Properties are very expensive. A plot of land can be sold for as high as N400, 000,000.00 (four hundred million naira only) or more depending on size, title etc. The average price of houses for sale in Asokoro District is 300,000,000.00 (Three hundred million naira) and can be as high as 800,000,000.00 (Eight hundred million naira).

Landmarks in Asokoro include Aso Rock, Economic Community of West African States, (ECOWAS) Secretariat, National Intelligence Agency (NIA), World Heath Organization (WHO) Office, Asokoro shopping Mall and ECOWAS Park.

Maitama District

Maitama is also one of the major districts of Abuja and home to most embassies and high commissions. It is an exclusive and expensive area where the rich and top politicians live.

Landmarks in Maitama include: Transcorp Hilton Hotel, British Council, Nigerian Communication Commission, NCC, National University Commission, NUC etc. Land in Maitama ranges from N50, 000,000.00 (Fifty million Naira) to N500, 000,000.00 (Five hundred million naira), while 3 bedroom flats are rented from N7, 000,000.00 (Seven million naira) to N15,000,000.00 (Fifteen million naira) per annum.

Worthy Mentions

Lekki Phase 1, Lagos

GRA Phase 2, Port Harcourt

Omole Phase 1, Lagos

Magodo GRA, Lagos

Jabi, Abuja

Alalubosa G.R.A. in Ibadan (Oyo State)



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