The third edition of the State of Lagos Housing Market Report has revealed a dramatic surge in land prices at Eko Atlantic, with plots now valued at over ₦2 billion. The report, released by real estate analysts and market researchers, highlights the rising demand for premium coastal real estate in Lagos State, particularly within the iconic Eko Atlantic City project.
According to the report, Eko Atlantic now ranks among the most expensive real estate locations in Nigeria and West Africa, driven by high-end commercial and residential developments, top-tier infrastructure, and its appeal to both international investors and local elites.
“Land prices in Eko Atlantic have exceeded ₦2 billion per plot, marking a significant appreciation over the past few years,” the report stated. It attributes the spike to increased interest from global investors, upscale developers, and businesses seeking prime locations for offices and luxury living.
Experts say Eko Atlantic’s rapid growth is positioning it as a central business hub, rivaling global waterfront developments in cities like Dubai, Miami, and Singapore. The area’s smart city infrastructure, flood protection systems, and proximity to Victoria Island have further boosted its value.
However, housing advocates have raised concerns about the affordability gap, warning that such price surges may deepen the divide between luxury development and the average Nigerian’s access to housing. The Lagos State Government has yet to respond to calls for inclusive housing policies that balance high-end development with mass-market housing needs.
As Eko Atlantic continues to attract high-net-worth individuals and corporate investments, analysts predict that prices may rise even further, making early acquisition increasingly competitive.
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