Best Places to live in Lagos, Nigeria - Banana Island leads the way

September 13, 2018 Nigeria,Real Estate News

Where is the best places to live in Lagos State, Nigeria?

This may be a question for an individual looking to move his or her family to Lagos state in Nigeria. Additionally, it may also be a question for a corporate organization looking to send an expat into the country.

If you are looking to send your kids to good school or you want to reside in peaceful neighborhood with peace of mind, consider living in any of these areas in our list of the best places to live in Lagos.

Although, Banana Island, Lagos is considered to be the best and most expensive areas in Lagos to live; comparatively, there are still some other areas you can consider. Read with me as we go through all the best areas to live in Lagos one-by-one.

Are you looking to buy a property or move to live in one of the best places in Lagos? If so, you have plenty of choice to choose from. Inasmuch as you have what it takes, you are guaranty to secure a residential property in the areas of Lagos State.

For one thing, Lagos is a choice destination for many tourist and at the same time, a good place to work and do business. It was not surprising when over 57% of expats interviewed said they preferred to work and live in Lagos than some other African countries.

In fact, and rate Lagos as an excellent city; according to, Lagos is one of the best cities to live in Africa with some encouraging data. Without to much ado, let us go through most choice area of Lagos State to live in; that is to say, where is the best areas to live in Lagos?

10+ Best Places to live in Lagos

Here are the 10 best places to live and work in Lagos, Nigeria.

1. Banana Island Lagos – A good place to live

An artificial island carve out from the foreshore of Ikoyi, Lagos Nigeria. Not only is Banana Island home to the rich and wealthy Nigerians, but also has some of the most expensive real estate in Nigeria.

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How much is an average cost of house in Banana Island Lagos?

The average price of a typical 4 – bedroom property in Banana Island is ₦ 201.40 million, while a house with more bedrooms and other amenities cost more that ₦ 350.01 million.

Cost to rent a property in Banana Island

You will pay around ₦ 5.01 million each year as rent for a typical moderate 4 – bedroom house in this island. Remember, what you pay for rented property may defer depending on the real estate agent that you used in securing the property.

In like manner, majority of real estate business owners in Lagos benefits hugely when they are able to execute a business deal within this location. In other words, selling, leasing or renting a single property by an estate agent will result in the agent receiving an enormous commission for the service rendered.

Educating your kids in Lagos

While there are few schools within and around the Island, Banana Island School (BIS) is notably the main school you may want to consider; especially, for kids from the age of one.

Additionally, the school run similar three terms like some of the United Kingdom best private schools; in other word, a typical year is divided into three terms namely – Michaelmas, Lent and Trinity, each of which has a half term holiday.

Security of the environment

To many, safety and security is of high important when it comes to their place of abode. Living in Banana Island can give you peace of mind when it comes to property and its content safety. The island main entrance is manned by professional security men and women 24 hours a day.

Not only are the security personnel visibly seen at the main entrance, but also and actively presents within the island. If you have the financial power, I will recommend Banana Island as the first place to consider when search to relocate or buy a property ii Lagos.

2. Eko Atlantic – Victoria Island

A city within a city. Eko Atlantic is termed the best prime real estate in West Africa. Built on the once known Bar Beach in Lagos State, Eko Altantic is one of the most precious place to live in Lagos.

As shown above, the video gives an insight into what Eko Atlantic City is made up of. Cost of property Rent a property Educating the kids Security of the environment

3. Lekki Phase 1 – Lagos Island

Full of various amenities, Lekki is tagged the new modern Lagos as it has all you need to live in a comfortable environment. Presently, Lekki currently houses modern Estates, new residential developments and areas allocated for a Free Trade Zone.

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Cost of property Rent a property Educating the kids Security of the environment

4. Ikoyi – A nice place of abode

As wikipedia puts it – Ikoyi is the most affluent neighborhood of Lagos. That is to say, it has the largest group of rich individuals living in Ikoyi area of Lagos.

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As a matter of fact, Ikoyi is one best places to buy houses for long term investment in Nigeria.

What is an average cost of property in Ikoyi?

The average cost of a medium to large residential property in Ikoyi is around ₦ 200.00 million; similar, to the cost of an average semi detached house in Banana Island above. Not only is Ikoyi one of the best places to live in Lagos, but also its a location where you are guaranty some peace of mind in terms of security.

In addition, Ikoyi and its environment can boost of the best road networks in Nigeria. These good road networks can be attributed to the influence of the caliber of individuals and corporate entities located within the community.

How much can I rent a property in Ikoyi?

The cost to rent a medium to large family home in Ikoyi is between the range of ₦ 6.90 Million to ₦ 11.2 million. Nevertheless, you will be getting value for money because the location has state-of-the-art social amenities; in addition, it is a secured location to live.

While renting a property in Ikoyi may be expensive for many Nigerians; to the few that are able to afford the rent, the benefits out-weigh the rent cost.

Good school to educating kids in Ikoyi

Corona School, Mekunwen Road, Ikoyi, top the list of good schools ithe area; in fact, Corona School is considered to be one of the best schools in Lagos Island. While there are various educational institution (primary and secondary) in the area, Corona is one of the best schools in Ikoyi.

Is it safe to live in Ikoyi, Lagos?

Yes, it is very safe ti live in Ikoyi. Not only is one of the best places to live in the town, but also one of the most secured place when it come to security in the state.

5. Victoria Garden City (VGC)

VGC as it is popularly called is a fully gated and secured residential property develop. Developed in the 1990’s, Victoria Garden City is a highbrow residential development area located along the Lekki-Epe expressway.

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Cost of property Rent a property Educating the kids Security of the environment

6. Magodo Lagos

Not only is Magodo one of the best places to live in Lagos, but also an area with good security and fantastic social amenities. In spite of the fact that Magodo is located in the mainland area of Lagos State, it is still a choice location to live in. Close to Ikeja in proximity, it has three main areas namely:

  • Magodo Phase 1;
  • Magodo GRA Phase 2; and
  • Magodo Shangisha.

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Cost of property Rent a property Educating the kids Security of the environment

7. Ikeja – Lagos Mainland

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Ikeja is the capital of Lagos State and has always been a densely populated area of the state. For this reason, it has been know as one of the areas in Lagos where people want to live and work. Generally speaking, Ikeja is regarded as the central business hub of the state.

Not only is the area a business hub, but also house all the Lagos State Government parastatals. For example, the state house of assemble and the governors office are in Ikeja. Cost of property Rent a property Educating the kids Security of the environment

8. Surulere – Lagos Mainland

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Surulere has remain one of the Best areas to live in Lagos; from time to time, the area consist of both residential and commercial properties. Significantly, Surulere house the Lagos National Stadium; built in 1961 and renovated in 1972 for the Africa’s most prestigious games.

That is to say, the All-Africa Game. Cost of property Rent a property Educating the kids Security of the environment

9. Maryland – Lagos Mainland

Cost of property

Rent a property

Educating the kids

Security of the environment

10. Festac Town

Cost of property

Rent a property

Educating the kids

Security of the environment

Why do Nigerians Like to Live in Lagos?

There are lots of reasons why Lagos is most people living in Nigeria’s choice when it comes to choosing a place of abode; in fact, many of us cannot even live outside the state. Social and economic development of the state contribute is the main reasons why many people will want to reside in the state.

As a matter of fact, Lagos has the highest number of top class companies, schools and entertainment amenities in the country. In light of the fact that Lagos is a choice destination for many expats, we look at what the city has in stock for the Lagosians themselves?

As shown above, schools for your kids and the security of your neighborhood may be the main reason for looking to move to one of the best places in Lagos. For example, Banana Island, Ikoyi and Lekki phase 1 – all in Lagos Island has most of the best schools and high security personnel presence in the state.

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