Did you know that Lagos State has the highest number of residential estates in Nigeria and the city is only second to Capetown and Johannesburg in South Africa for the cities with the most residential estates in Africa?
And according to research. 50% of High net worth individuals live or own a home in private residential estates. but there are so many of these estates most of which are in Lagos island, it can be a daunting task to choose where to settle or invest in.
The good news is our team has reviewed over 34 of the most popular estates on the island of Lagos. We have compiled a list of the top 10 residential estates in Lagos island, hopefully, to help you streamline your search for the best residential estate in Lagos.
The rating criteria’s for the top 10 residential estate in Lagos island are:
- Infrastructures: We rate the estates with some of the best standard facilities, and infrastructures like street lights, tarred roads, water, electricity, etc…
- Security: Estates ratings based on the general security provided for its residence, No. of available CCTV cameras, No. of security personnel, etc
- Estate layout / Planning: This is based on the overall layout and plan of the estates, road network, building/ structural synchronicity, Green areas, etc…
- Uniqueness: Rating based on unique factors that set these estates apart
- Family-friendly: Rating based on how friendly the environment is for raising kids and building a family.
Top 10 residential estate in Lagos Island.
- Parkview estate
- Pinnock view estate
- Chevy View estate
- Oral Estate
- Lekki Gardens Estate
- Living gold estate
- Nikon town estate
- Bourdillion estate
- Banana island estate
- Friends Colony Estate, Lagos
1 PARKVIEW ESTATE.
PARK VIEW ESTATE is located in Ikoyi close to Banana island and bordered by Gerrard road. It is one of the most luxurious estates in Lagos… It is a residential estate and is owned by a Royal family.
In the estate you find semi-detached duplexes, fully detached houses, terraces, townhouses, penthouses, and bungalows; there are also private businesses, schools, luxury hotels like Pearl court residence & hotel, Parkview Astoria hotels, Upper-class suites, and several others.
Most houses in Parkview estate are built by private developers, landowners and eventually sold out to the public.
The estate is a gated community in the highbrow area with one major entrance manned by security guards. which makes it a very secure location.
They also have a quality road network, street lights, drainage system, and basic amenities like schools, hotels, pharmacies, relaxation spots, sports facilities, and supermarkets…
Prices of Properties in Parkview Estate.
- 3 bed flat- ₦3million – 7million (rent); ₦85million – 130million (sale)
- 4 bed Terrace- ₦150million – ₦165million; 4-bed townhouse- ₦155million – 230million;
- 4-bed duplex- ₦13 million (rent), ₦250million – 320million (sale)
- 5-bed detached duplex – ₦200 million – ₦380 million;
- 5-bed terrace- ₦175million, ₦5-8 million (rent)
- Land – about ₦270,000 per sqm
2 Pinnock Beach Estate.
Pinnock Beach Estate is located along the Lekki-Epe expressway, Osapa Lekki. Within the Neighborhood of Femi Okunnu Housing Estate and Mobil filling station.
The estate is own and developed by UACN Development and Property Company, UPDC Plc. The project is sitting on over 3 hectares of land where the waterfront of the estate is directly facing the Lagos Lagoon.
The waterfront provides a cool and beautiful natural environment for the residence of this estate.
Pinnock beach estate has 79 housing units, made up of 11 units of five-bedroom detached houses including boys’ quarter,
28 units of four- bedroom semi-detached house with BQ, eight units of four- bedroom semi-detached, and 32 units of three-bedroom apartments with BQ respectively.
Residents enjoy strings of recreational facilities like swimming pools, gymnasium, children’s playground and more.
Other facilities put in place are sewage treatment plant, borehole, and water treatment plant to issue potable water. There is a Fire Alarm system to check fire outbreaks and a Burglar Alarm system to nick theft attempts.
The estate is covered with a certificate of occupancy C of O issued by the Lagos State Government. The power supply is from both PHCN and a standby generator.
Prices of Properties in Pinnock Estate.
- 3 bed flat- ₦3million – 7million (rent); ₦65million – 130million (sale)
- 4 bed Terrace- ₦150million – ₦165million
- 4-bed duplex- ₦13 million (rent), ₦170million – 380million (sale)
- 5-bed detached duplex – ₦200 million – ₦480 million;
- 5-bed terrace- ₦195million, ₦5-8 million (rent)
- Land – average between ₦130,000,000 – ₦300,000,000 per plot
3 Chevy View estate
Although this chevy view estate gets many negative reviews online because of the occasional flooding problems experienced by its residence and rightly so. Asides from that it is one of the best residential/commercial estate in Lagos for many reasons.
Chevy View estate is located along Chevron drive, off the Lekki-Epe expressway, Lekki Peninsula II directly opposite the head office of Chevron Nigeria Limited. It is about 30 min drive to Victoria Island.
The Most common houses found in the estate are duplexes (semi & fully detached;), and terraces built by private estate developers who buy lands, build, and sell.
Another interesting fact about Chevy view estate is most of its residents are high income earning families, which makes it a perfect hub for high-value networking.
Chevy View Estate is very safe and secure. There are 2 main gates with security posts at the estate, and security checks are carried out by the uniformed security men attached to the estate.
They routinely check all cars entering and leaving the estate. There is also the presence of armed mobile police officers deployed to CHEVRON in close proximity to the estate.
Typical property prices are:
- 3 Bedroom Flat: ₦1.7 million – ₦2.5 million (rent)
- 3 Bedroom Duplex: ₦3 million (rent) ₦45 million (sale)
- 4 Bedroom Duplex: ₦3.5 million (rent) ₦45 million – ₦65 million (sale)
- 5 Bedroom duplex: ₦4 million (rent); ₦65 million – ₦130 million (sale)
4 Oral Estate
This estate is the ‘wild-card’ on our list because it is still relatively new and developing. Which makes it the perfect place if you are looking for a less expensive estate that still offers great value in terms of ROI, premium living, and comfort.
Oral Estate is located along the lekki-epe expressway close to Ikota Villa Estate. The estate is not developed by any central body or individuals.
The estate is developed by different property developers who acquired the lands and build them to sell. There are no specifications on how houses must be built; you build according to your taste.
Even though the estate is not serviced by any known central body, the road network within is amazing, in a very serene environment that’s perfect for a family settlement and raising children.
In terms of security, Entrance into the estate is unrestricted however the security officers at the gate carry out checks on motorists.
Typical property prices:
The estate is mainly characterized by tastefully constructed non-uniform fully detached, semi-detached duplexes and terraces which are built by individuals who acquired lands in the estate. It’s a developing neighborhood and most buildings within are new.
- 3 bedroom apartment: ₦1 million – ₦2 million (rent)
- 4 bedroom semi-detached duplex with bq: ₦50 million – ₦55 million (sale)
- 4 bedroom semi-detached duplex without bq: ₦40 million (sale), ₦2 million – ₦3.5 million (rent)
- 4 bedroom semi-detached duplex: ₦55 million (sale)
- 5 bedroom duplex: ₦65 million (sale)
5 Lekki Gardens Estate.
Lekki Gardens estate (Phase 2 & 4) is located along the Lekki – Epe expressway, after Ajah, and a short distance from Abraham Adesanya roundabout.
Although the estate was constructed between 2012 – 2015, The houses and buildings in These estates are aesthetically pleasing, within a lovely, and well-maintained environment.
Entry into these estates is largely restricted for non-residents, you’ll have to call your host for a “gate pass” before being allowed entry.
The estate has a central management authority that handles the cleaning and maintenance of the environment, waste management, and ensures the uninterrupted availability of water and electricity.
There are houses currently available for sale within these estates. For more information and prices visit the official Lekki Gardens website.
6. Living gold estate.
Living Gold estate is estate is located in the prestigious banana island of Lagos State.
Living Gold estate is undoubtedly one of the most beautiful estates in Lagos State, it is a luxury residential complex with an ocean view and state-of-the-art facilities.
This estate is surrounded by beautiful greenery which is a haven for many species of birds like the kingfisher, louries, owls, and so on. The presence of all these birds and nature add an extra spice to the beauty of the estate and the classic luxury on display in the surrounding area.
In living gold estate, you find some of the best top-notch luxurious homes in Lagos with the best amenities and features like, home theatre, elegant marble floors, outdoor pools, luminous chandeliers, and more, you name it you can find it here.
7 Nicon town estate.
Nicon Town Estate is a purely residential estate located in Ikate, Salem bus stop, off the Lekki-Epe expressway.
The project was first facilitated and managed by Chevron Employees Multipurpose Cooperative Society (CEMCS) the estate is sitting on over 57 hectares of land.
In 2001 Nicon Lekki Ltd sold most of the plots of land to CEMCS. CEMCS took over full development of Nicon Town from then on and significantly finished the project in 2007.
Nicon Town is known for its luxury and class, mainly occupied by high-income earning individuals. It highlights are; excellent infrastructure, quality finishing, and its very well organized.
The estate pays high dividends from the investment perspective and has yielded great returns over the years. It started at the rate of about 5 million per plot. But the land is now valued between ₦160 million- ₦200 million making property appreciation to be over 2,000% of its original value.
Nicon Town is divided into Zones and each zone has a separate gated entrance and security guards. The estate is very calm and serene with high-tech security;
The road networks within the estate are tarred. with street light illuminating the estate when its dark and CCTV cams in strategic location for extra security coverage.
The estate is very clean with an excellent waste management system and drainage channels. It also has a good layout and landscape.
Each house has ample space in front for flower planting, a garage, and sufficient parking space, no cars are allowed to park along the road.
Other Facilities and infrastructure in Nicon Town estate include perimeter fence, Children’s playground, central sewage plant, 24 hours water supply and treatment plant, 24-hour surveillance and Nicon Town Security Patrol, good drainage, electricity, and underground cables, streetlights, about 1km access road into the estate from the express.
Typical property prices :
- 5-bed detached duplex – ₦250 million – ₦450 million
- 4-bed terraced duplex – ₦70 million (sale); ₦3 million (rent)
- 5-bed terraced duplex – ₦90 million
- Land – ₦160 million – ₦200 million
8. Bourdillion Court Estate.
Bourdillon Court Estate is a serviced residential estate located on the highbrow Chevron drive in Lekki. It was developed by Aircom Nigeria Limited and its comprised of 172 units of terraced duplexes.
The estate has a central management authority. It is well-maintained with ample space for green areas. The roads within are interlocked, the environment is well-landscaped and attractive.
It’s a gated estate with effective 24-hour security. Entry is restricted and non-residents are required to call their hosts for a “gate-pass” before being allowed in.
There is a monthly service charge of which covers security, gardening, waste management and general estate maintenance.
Typical property prices:
- 3 Bedroom Apartment – ₦50 million(sale), ₦3million (rent)
- 4 Bedroom Semi-Detached Duplex – ₦78 million (sale)
- 4 Bedroom Terraced Duplex – ₦68 million – ₦90 million (sale)
9 Banana island estate
The list of the top 10 residential estates in Lagos island would not be complete without the inclusion of the billionaire’s paradise, “BANANA ISLAND”.
Banana Island is a man-made island located on reclaimed land(from the Lagoon) in the Ikoyi axis of Lagos State. From the aerial view, the Island is curved like a “Banana” hence how it got its name.
Banana island estate has only one major entrance guarded by uniformed security men from BIPORAL (Banana Island Property Owners’ and Residents’ Association Limited) Security Services.
The security is top notch, visitors entering the estate have to proceed to a Visitors’ car park where they obtain access codes and further security checks.
The estate is divided into three zones: Residential zone, Commercial zone, Mixed Development zone.
On the residential side, developers are only allowed to build structures that are three storeys’ high. There are also apartment buildings/blocks of flats for sale or rent developed by private real estate companies. One of the most notable is the Ocean Parade Towers, a series of 14 luxury tower blocks overlooking the lagoon.
The opulence in Banana Island is unrivaled in the whole of West-Africa. It is home to very high net worth individuals like Aliko Dangote, Mike Adenuga, Linda Ikeji, and P square.
Some of the infrastructures and facilities Banana Island include 24-hour electricity, tight security, good road network, covered drainages, good waste management system, sewage and water treatment, constant water supply, greenery and good landscape, kids play area and other facilities that bring comfort, and spells luxury.
Property prices run in hundreds of millions to billions of Naira. After successfully buying a property, you have to consider the annual service charge which is in millions and other bills that come with living “large”.
Typical Property Prices in Banana Island:
- Land- about ₦450,000 per square meter
- 2 bedroom flat & Apartment – ₦76 million
- 4 bedroom terrace – ₦270 million – ₦300 million
- 5 bedroom terrace – ₦350 million – ₦400 million
- 5 bedroom fully detached duplex- ₦630 million – ₦850 million
10 Friends Colony Estate.
Friends Colony is a fully serviced residential estate located in the Agungi / Osapa area of Lekki. It was developed by Aircom Nigeria, the same developers of Northern Foreshore Estate, Milverton Court Estate, and Bourdillon Court Estate.
“Aircom” is known for developing neat and well-maintained residential estate in Lagos island, with quality infrastructure (roads & drainage), 24 hours power supply, beautiful landscaping, and various other facilities.
Residents of Friends Colony pay a monthly service charge, which covers waste management and general estate sanitation, 24-hour security patrol, fumigation, and general estate maintenance.
The estate has water treatment plants, central sewage disposal system, and a good drainage system. There is a membership Fitness gym and a pool within the estate’s commercial centre .
It has its own central power generating units that offers 24 hours electricity to its residence with an energy tariff of about ₦74 per kW/h… ?
Typical Property prices:
- 5 bedroom Fully detached duplex- ₦5m (rent), ₦110m – ₦130m (sale)
- 4 Bedrooms Semi-Detached Duplex – ₦4m (rent), ₦70m – ₦80m (sale)
Conclusion
This concludes our list of the top 10 residential estate in Lagos island based on our rating criteria, opinions and prefences. although there are many other amazing residential estates around lagos which were not mention here. The most important thing when looking for the “perfect” estate ( live in or for investment purposes), is to always carry out an extensive research on the property itself, its naeiborhood/location and land title documents .
Do you know of any other notable residential estate on Lagos island like the ones on our list of “Top 10 residential estate in Lagos Island”. please share in the comments.
Have questions/ feedback? feel free leave a comment and we will do our best to respond ASAP, thanks.
Money is in kagos