Estate Intel’s Q1 2026 Lagos Average Apartment Price Index (released early February 2026) shows continued upward pressure on mid-market zones, with 2–3 bedroom flats averaging ₦48M–₦95M (up 11–17% YoY), while prime areas (Ikoyi, Victoria Island) average ₦320M–₦780M (up 7–12% YoY).
Emerging corridors continue to offer the best value-for-money entry points, with strong demand from young professionals and small families driving faster absorption and rent growth.
Zone-by-Zone Average Prices (Q1 2026 – 2–3 Bedroom Flats)
| Zone / Neighborhood | Average Price Range (₦) | Price per sqm (₦) | YoY Change (2025–2026) | Notes / Best For |
|---|---|---|---|---|
| Ikoyi / Banana Island | ₦450M–₦780M | ₦3.8M–₦5.2M | +7–12% | Ultra-luxury, diaspora |
| Victoria Island | ₦320M–₦650M | ₦3.2M–₦4.5M | +8–11% | Corporate & high-net-worth |
| Lekki Phase 1 | ₦180M–₦380M | ₦2.2M–₦3.5M | +10–14% | Premium mid-to-high |
| Lekki Phase 1 Extension / Osapa London | ₦85M–₦180M | ₦1.4M–₦2.4M | +12–16% | Young professionals |
| Yaba / Akoka | ₦55M–₦95M | ₦800k–₦1.3M | +13–17% | Tech & university proximity |
| Surulere / Bode Thomas | ₦48M–₦85M | ₦750k–₦1.2M | +11–16% | Mid-market families |
| Gbagada Phase 2 | ₦50M–₦90M | ₦780k–₦1.25M | +12–15% | Balanced mid-market |
| Ikorodu–Ibeshe | ₦28M–₦55M | ₦450k–₦850k | +14–18% | Affordable entry |
| Sangotedo–Badore | ₦35M–₦68M | ₦550k–₦950k | +15–19% | Emerging premium value |
| Mowe–Ofada–Shimawa (Ogun) | ₦25M–₦50M | ₦400k–₦780k | +16–20% | Infrastructure-linked value |
Best-Buy Zones by Budget (Q1 2026)
- Under ₦50M (First-time / Starter): Ikorodu–Ibeshe, Mowe–Ofada–Shimawa, Sangotedo (highest appreciation potential)
- ₦50M–₦100M (Mid-Market Upgrade): Yaba–Akoka, Surulere, Gbagada Phase 2 (strong rental demand)
- ₦100M–₦300M (Premium Mid): Lekki Phase 1 extension, Osapa London, Sangotedo–Badore (balanced yield + growth)
- ₦300M+ (Luxury): Ikoyi, Victoria Island, Banana Island (prestige & dollar hedge)
Key Insights & Trends (Q1 2026)
- Mid-market zones continue to lead price growth due to infrastructure access (roads, rail extensions) and demand from salaried professionals
- Prime areas show slower appreciation but stronger rental stability (5–9% yields)
- Emerging corridors offer the best risk-adjusted returns (15–25% total) with lower entry barriers
- Diaspora influence remains strong in prime zones (dollar payments)
Final Thoughts
The Q1 2026 Lagos apartment price index highlights a bifurcated market: prime areas deliver prestige and stability, while mid-market and emerging corridors offer higher growth and yield potential.
For buyers: emerging zones still provide the best value-for-money in 2026. For investors: focus on mid-market furnished units in high-demand corridors for cash flow + appreciation.
Which Lagos zone offers the best value in your view? Share your target budget or area below!
Disclaimer: This information is for general purposes only and not legal advice. Consult a qualified real estate lawyer for guidance.
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