Horizon Heights, Ikate Lekki.
By: Scheme Agatha Happiness
The debate over housing affordability in Lagos has intensified in recent years, as rents continue to outpace incomes, particularly in high-demand neighborhoods such as Lekki Phase 1. Reports by BusinessDay, citing the Lagos Residential Market Report 2025, attribute the surge to a housing deficit of about 3.4 million units, rapid population growth and years of demand outstripping supply.
Against that backdrop, calls for government intervention have grown louder. Yet before policymakers conclude that regulation alone is the answer, it is worth asking whether the problem stems from market failure itself or from longstanding supply constraints, and whether different development choices could improve affordability without distorting the market.
Horizon Estates has already run that experiment, and the results are in.
