Top 10 Choice Real Estate Locations In Nigeria

Looking for the biggest estates in Nigeria to invest? Or maybe you just want to know the more about the biggest estates for informational purposes.

Whichever the case may be, simply proceed to read this article, as we talk about the biggest estate locations in Nigeria, listing only the best of the best that would be profitable to you if you are an investor.

Real estate has become one of the most lucrative opportunities for investors seeking to make long-term gains. Investors like Warren Buffet, Donald Trump and Samir Tapir have real estate investment to say their thanks to for the billionaires they now are.

Over the years, luxury rental property has become one of the most lucrative means of investment especially amongst the most privileged of individuals in Nigeria. These luxury properties are targeted at company officials, celebrities, politicians and also billionaires who could possibly afford them.

If you are wondering where the most expensive and biggest real estates are in Nigeria, Then you should know that Lagos takes the trophy home. The bustling city which has the best economy in Nigeria offers the most expensive properties and best investment opportunities to those seeking to make profit off real estate.

In this list, you will find several real estate companies in Nigeria and their respective locations. Some could be certainly expensive and break your bank depending on your income level. While 4 of the biggest real estate locations in our list are located in Lagos others are located in the Abuja the nation’s capital, Ibadan and Port Harcourt.

  1. Banana Island – Lagos State

Located in Ikoyi Lagos, Banana Island tops our list as the biggest estate location in Nigeria. The island which boasts of many highly privileged individuals is also the most expensive real estate location in Nigeria.

The man-made island which is down by the Federal Government was built to provide world-class utilities which can’t be seen anywhere else in Lagos and other parts of Nigeria.

When we say expensive, we mean expensive as renting or owning a house on Banana Island would certainly break the bank of most Nigerians. Anyway, the Island was built for the highly privileged and has one of the highest density of millionaires within its boundaries.

Notable figures that stay in Banana Island include Linda Ikeji who got a house worth N500 million back in 2015. Other notable figures include Billionaire and Owner of Globacom Mike Adenuga, Iyabo Obasanjo, Kola Abiola, and Saayu Dantata.

Acquiring a 3-bedroom apartment on the Island could typically cost you N100million and prices go as high as N450 million for a 5 bedroom apartment. For most residents in the area, renting properties is the best and most affordable option, but that doesn’t come cheap as renting a 3-bedroom apartment could cost you as much as N9 million a year.

  1. Haven Homes – Lagos State

Haven Homes is a real estate firm in Nigeria. Although the real estate has much presence in Lagos, it also has several real estates in other locations such as Abuja. The company which began developing residential homes in 2006 has grown over the years to become one of the biggest and most expensive real estate companies in Nigeria.

Haven Homes specialize in building world-class 3D mansions which have attracted the likes of 2face Idibia and AY who now call the estate their home.

Cost of houses in Haven Homes are expensive as you should expect, although it is cheaper compared to that of Banana Island, a 5 bedroom Detached Duplex could cost you about N95 million. This might sound like a lot to many people seeking to own a home and that is why Haven Homes offers a 30% down payment and installment payment options.

Haven Homes which has most of its properties located in the Lekki Area is one of the biggest and most expensive estates in Nigeria.

  1. Maitama – Abuja

Located in the nation’s capital, Maitama is one of the major districts built according to the development plan of the Federal Capital Territory.

Maitama is located in the Central Business District of Abuja and as you would expect it offers residential and commercial services to high-class individuals especially politicians.

Maitama is marked by major roads named after prominent individuals in Nigerian history. The estate is quite expensive due to the world-class utilities it offers.

Properties in Maitama could cost as much as N700 million depending on the size and number of rooms of the property you wish to purchase.

With important institutions such as embassies and high commissions occupying this area, you would expect the properties to be worth pure gold.

  1. Adron Homes and Properties – Lagos State

Cutting across 5 cities in Nigeria, Adron Homes and Properties takes its place in our list. The real estate company which was established in 2012 has risen to become one of the most expensive and biggest estates in Nigeria.

Adron Homes has over 4,000 acres of land in its Estate which cuts across three developing Real Estate areas in suburban areas. Adron Homes and Properties aims to develop affordable houses for low and medium income earners.

Getting a property from Adron properties isn’t cheap as a 3-bedroom apartment could cost you about N30 million while a 4-bedroom and 5-bedroom apartment would cost you N40 million and N45 million respectively. This might sound like a lot to most Nigerian, but Adron offers a way out through its flexible payment plans.

With the aim of securing suitable housing for every social class and income level without any grudges, Adron provides a fair payment that would enable even middle-income earners to own their dream home.

Adron offers a 10% initial deposit and a balance payment in a couple of months. The number of months will depend on the size and number of rooms in the apartment.

  1. Asokoro – Abuja

Just like Maitama, Asokoro is one of the major districts in Abuja, housing several high embassies, commissions and government institutions such as the Presidential Villa (ASO Rock), ECOWAS secretariat, the World Health Organization (WHO) office  and National Intelligence Agency (NIA).

The area serves private, business, diplomatic residence for work and play and leisure. Asokoro offers world-class utilities making it one of the most expensive estates in Nigeria.

Properties in Asokoro should normally cost a fortune since it is located in a commercial and governmental area and it definitely does.

The price for a plot of land could go as high as N100 million and possibly N2 billion depending on the size of the plot, location and the purpose of the plot.

When it comes to renting or buying homes on Asokoro, prices could go even higher. On average, the cost of a house in Asokoro District is around N500 million. A 9-bedroom detached duplex in Asokoro District could cost you about N1.6 billion while a 4-bedroom house could go for N120 million.

  1. Jabi – Abuja

Jabi is a residential district in Abuja. The district is in the phase 2 development plan of Abuja and just adjacent to the Central business district.

Just like Maitama and Asokoro districts, Jabi is quite an expensive area although it does not include many government institutions and high commissions.

1 Hectare of commercial land would cost as much as N1 billion, although the price could be lower if the land is located in a residential area and to be used for residential purposes.

Houses for sale in Jabi are also on the expensive side. A 4-bedroom detached house could go for about N45 million while renting the same 4-bedroom apartment could cost you N4 million per annum.

  1. Nicon Town – Lagos State

Located in Lekki Peninsula, Lagos, Nicon Town is one of the biggest and most expensive residential estate locations in Lagos. The town was planned and built by Chevron Employees Multipurpose Cooperative Society (CEMCS).

Nicon Town occupies a land space of 57 hectares divided into over 400 plots. The residential estate is known for its luxury and world-class utilities. The estate is occupied by only high income earning individuals as they are the only class of individuals that could afford to rent or buy a house in the area.

At its inception, you could get a parcel of land in Nicon Town for about 5 million, but recently there has been an appreciation of property in Nicon Town and you would have to pay about N155 million more that same parcel of land.

The estate boasts of a serene environment, an adequate water management system, and drainage channels. It also has a beautiful natural landscape making it a go-to location for those who seek to relax.

Rental properties in Nicon Town could go as high as N2 million per year for a 3-bedroom house. The same house could cost you around N55 million if you choose to buy it instead.

  1. GRA Phase 2 – Port Harcourt

Port Harcourt is known to be the Lagos of the South-South due to the abundance of billionaires and world class residential areas in the city. The oil-rich city houses many of the south-south billionaires who invest in real estate properties.

One of these real estates is in GRA Phase 2. The neighbourhood boasts of the largest concentration of bars and nightclubs in Port Harcourt.

Purchasing a house in this area would certainly cost you a fortune as 5-bedroom detached duplex could go for as high as N1.8 billion. This could make GRA Phase 2 the most expensive real estate on our list based on the cost of the property.

  1. Alalubosa GRA – Ibadan

Located in the old city of Ibadan, Alalobusa GRA takes its place on our list. The residential area which is for the high and middle-income individuals boasts of serene environment and one of the most expensive real estate on our list.

Getting a house in Alalubosa GRA is not as expensive as that in GRA Phase 2 but it will still cost you a fortune. An 8-bedroom detached house could cost around N250 million. While renting a 2-bedroom detached bungalow could cost you are N800,000 a year.

  1. Ibara – Ogun State

To conclude our list, we decided to move to Ibara. The large residential real estate is located in Abeokuta, Ogun State. The estate is a go-to location for those seeking a much cheaper property option.

The estate offers world-class utilities and tight security just like other real estates in our list. A 5-bedroom and 4-bedroom house for rent could cost N800,000 and N600,000 per year respectively.

That’s all on our list of the biggest estates in Nigeria. In our list, you can also find the most expensive estates in the country which could be great for you if you are looking for opportunities to invest.

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