Lagos State is Nigeria’s commercial capital; it’s the heartbeat of the nation’s economy, and most industries and brokers reside in these cities.
Most people who can afford comforts prefer living in estates instead of normal residential buildings.
This is because estates have many advantages, like security, good roads, a quality sewage and waste system, access to basic and social amenities, etc. There are many estates in Lagos State, and this post will talk about some of them.
To investigate the best estates in Lagos, we followed and researched different opinions and reviews in some Lagos-based newspapers and television stations; we also searched some reputable websites and forums to gather quality information.
In this article, we researched some of the best estates in Lagos. We will discuss extensively these estates, the qualities of life there, the security situations, and the benefits of living in these estates.
We also emphasized the cost of renting and acquiring properties in these estates. If you’re interested in getting all this information, just pay attention and read to the end; I promise you this article is information packed.
1. Park View Estate
Park View Estate is one of the very best estates in Lagos State. It is located in Ikoyi, very close to Banana Island. It’s a residential area that houses people from all walks of life.
The estate owned by a royal family is developed by private developers and landowners who sell it to the public. You’ll find different housing structures in the Parkview estate, from bungalows to detached houses, penthouses, etc., although they don’t come cheap.
Parkview Estate also has numerous private and public establishments, including top-class schools, luxurious hotels, business establishments, etc.
Other things you need to know about Parkview Estate include:
- top-quality road network; the roads in the estate are of top class.
- There’s constant electricity in Park View Estate; we all know the importance of electricity; it certainly improves the quality of life.
- good sewage system. A well-organized sewage system makes Parkview Estate stand out; these sewage systems ensure that the estate is always neat.
- The most important thing about the estate is its security. The Park View Estate is a well-gated community with just one entrance, which some security guards guard. The estate is so secure that a stranger cannot access it unless the person he or she is visiting comes and identifies the visitor.
- There are a couple of relaxation spots in Park View; you can always go there and chill with family and friends.
worth of properties at Parkview Estate.
Being a highbrow area, the prices of properties here are very costly. Let’s give you a brief overview of how much you can rent or acquire a property here.
- For a 3-bedroom flat, you can rent from N3.2 million to N7.5 million per year. When you buy it, it will cost more than 75 million naira.
- For a 4-bedroom duplex, renting is a minimum of 12 million naira per annum, while outright buying costs from 230 million to 420 million, depending on your negotiation skills.
- For a 5-bedroom terrace, renting starts from N4.8 million to N7.9 million naira. Outright buying is from N180 million naira and upward.
- Buying 2 square meters of land in Parkview Estate costs at least N550,000.
2. Chevy View estate
Chevy View Estate is one estate that’s right there with the best in Lagos State. The estate is located along Chevron Drive, just off the Lekki-Epe expressway.
Most buildings in these estates are owned by private investors who buy empty lands, build on them, and sell them. You’re most likely to see semi- and fully-detached duplexes and terraces at Chevy Estate; they’re the most popular set of buildings here.
Other things you need to know about the Chevy Estate include:
- The security situation of this estate is top-notch; in fact, it’s one of the most secure estates in Lagos. The Chevy Estate has two gates with security guards who ensure top security alertness.
- The estate is always neat, and they have a perfect sewage system that ensures cleanliness is a priority.
- There’s a steady power supply; there’s only a time you come here with electricity.
- The road network is top-notch, and excellent roads link the estate.
- Chevy Estate has high-income residents, meaning the standard of living is very high here.
- Since most residents here are high-income earners, you can build quality connections here if you’re a social type.
- Chevron often deploys mobile policemen within the estate. The policemen ensure the added security of lives and properties.
- Chevy Estate is not entirely a residential estate; it has a lot of businesses, schools, etc.
The cost of properties in Chevy Estate
- For a 3-bedroom flat, the annual house rent in the estate ranges from N1.5 million to N2.7 million. Buying a 3-bedroom flat here can cost around N25 million to N35 million.
- The annual house rent for a 3-bedroom duplex is about N2.8 million—N3.5 million. While the outright purchase is about N43–N50 million,
- For a 4-bedroom duplex, yearly house rent costs about N3.2 million to N3.9 million, while an outright purchase costs around N42 million to N63 million.
- For a 5-bedroom duplex, expect to pay around N3.9 million to N4.2 million naira. Outright purchases can cost you within the range of N63 million to N150 million naira.
3. Pinnock Beach Estate.
Pinnock Beach Estate is one of the best places to live in Lagos State. It is near the Lekki-Epe expressway. UACN Development and Property Company built the estate on more than 3.2 hectares of land right next to the Lagos Lagoon.
The estate comprises 79 housing units, including 28 units of semi-detached four-bedroom apartments with a BQ and 11 units of detached five-bedroom apartments with a boys’ quarter included. To complete the 79 units, there is also a 32-unit 3-bedroom flat and eight units of a semi-detached 4-bedroom apartment.
Other features of Pinnock Beach Estate include
- Adequate provision of security The estate ensures maximum security is provided for its residents.
- good sewage system. There’s provision for a sound sewage system; this helps maintain cleanliness in the estate.
- provision of constant power supply. The electricity provision on the estate is top-notch; there’s almost a 24-hour power supply. The major sources of power here are the PHCN and private generators.
- Since the estate is directly opposite the lagoon, the waterfronts add an array of beauty and a natural feeling to the residents.
- good road network. The roads within the estate community are cool and neat. This increases mobility within the estate.
- fire alarm system. There’s a fire alarm system that helps raise the alarm in case of fire outbreaks.
- Borehole system. The borehole system within the estate is incredible. The essence is to ensure residents of Pinnock Beach Estate never run out of water.
- burglar alarm system. With the burglar alarm system, thieves and criminal elements are scared away from the estate.
- Recreational activities. There are a lot of recreational provisions for the residents to enjoy; some of the facilities provide recreational activities like swimming, gymnastics, etc.
Prices of properties in Pinnock Estate
- A 3-bedroom flat in Pinnock Beach Estate costs between N2.9 million and N7.1 million per year. Outright purchase is from N63 million to N128 million.
- You’ll need N145 million to N170 million to purchase a four-bedroom terrace in the region.
- Renting a 4-bedroom duplex will cost about N12.8 million to N14 million per year. The outright purchase price is about N172 million to N430 million.
- The price of a detached 5-bedroom duplex here ranges from N210 million to N500 million.
- Renting a 5-bedroom terrace for a year ranges from N5 million to N8 million. Buying costs N200 million and above.
- If you want to buy a plot of land here, you have over N120 million.
4. Banana Island Estate
Of course, it’s almost only possible to compile this list by mentioning Banana Island. The estate is not just one of the biggest in Lagos but also one of the largest in Nigeria and West Africa.
The banana island is also called the billionaire island; this is unconnected to the fact that it houses some powerful billionaires in the country, including the richest man in Africa, Aliko Dangote. Other notable residents of this estate include Mike Adenuga, P Square, Linda Ikeji, etc.
Banana Island isn’t a natural island; it was made by people by taking land from the lagoon. It’s located in the Ikoyi axis of Lagos State. Its aerial view takes the shape of a banana, hence the origin of the name Banana Island.
The estate is divided into three different zones: the commercial zone, the residential zone, and the mixed development zone.
Some features of Banana Island
- Banana Island Estate has only one main entrance; this ensures that incomings and outgoings within the estate are metered, thus enhancing security.
- There’s a 24-hour power supply on Banana Island; there’s only one time you can go to Banana Island with electricity, except during maintenance.
- There’s an excellent road network on the island, which enhances mobility within the estate.
- The drainage systems on Banana Island are well covered, improving public health and wellness.
- A well-designed sewage and water treatment system is targeted at improving public health.
- Availability and constant water supply
- Access to high-profile connections
- luxurious comfort zones for relaxation. Here, children and adults can take part in recreational activities.
Prices of Properties on Banana Island
- A two-bedroom apartment on Banana Island costs around N4 million to N8 million per year to rent. The cost of buying ranges from N70 million to N90 million.
- Buying a four-bedroom terrace here costs between N260 million and N320 million.
- Buying one square meter of land on Banana Island costs about N500,000.
- A fully detached 5-bedroom duplex costs between N650 and N900 million.
I think that all in all, we’ve talked a lot about some of the best estates in Lagos State. The list is exhaustive; we just decided to talk about these; many other estates in Lagos State are also of top quality.