Lekki-Ikoyi Link Bridge in Lagos, Nigeria...Photo Credit: Julius Berger International
The average annual rent for a two-bedroom apartment in some of Lagos Island’s major residential areas has risen to as high as N17.25 million in 2026, according to a new residential market report.
The Lagos Island Residential Market Report 2026 by real estate company Lagos Realty , seen by Nairametrics on Sunday, tracks rental prices, property sales values and land costs across four major submarkets between 2022 and 2026.
The report covers Ikoyi, Victoria Island, Lekki Phase 1 and Ikate, with rental prices recording significant increases across all four locations.
According to the report, “Ikoyi has an average annual rent of N17.25 million for a two-bedroom apartment in 2026, making it the highest among the four Lagos Island submarkets covered in the report.”
