A new report on the Lagos Island residential market has documented a significant surge in land prices, with the upscale Ikoyi area now reaching N2.5 million per square meter.
The Lagos Island Residential Market Report 2026, prepared by real estate company Lagos Realty and reviewed by Nairametrics, tracks rental prices, sales values and land costs across the market from 2022 to 2026. According to the report, land values have soared during that time, with Ikoyi hitting the N2.5 million per square meter benchmark.
Beyond land costs, the report also examines trends in residential rental prices and sales values on Lagos Island. The data covers a broad range of locations, providing a comprehensive picture of how the property market has evolved over the period.
The report documents a period of notable growth in Lagos Island land values, culminating in the N2.5 million per square meter price in Ikoyi.
