Next Neighbourhoods 2021: Lekki Residential Scheme 1, Lagos, Nigeria

Lekki Residential Scheme 1 is a well-planned residential scheme on a natural peninsula adjoining Victoria Island and Ikoyi, bound by the Lagos Lagoon on one side and the Atlantic Ocean on the other. Since 2005, urban renewal and gentrification has gathered pace with Victoria Island emerging as a key business and finance hub which has attracted new residents to the area.

11 March 2021

1 min read

Why is it primed for growth?

Lekki’s proximity to the commercial centre of Lagos and the affluent neighbourhood of Ikoyi attracts upwardly mobile professionals and the vibrant diaspora community, for whom the opportunity to reside in a new town with proper infrastructure is a major draw. The neighbourhood is also primed for growth because of the development of a deep seaport and a planned new airport.

My favourite bits:

The Lagos Lagoon offers residents a cool spot away from the hustle and bustle of the city. There is also a vibrant art scene that reflects the energy of the local culture.

What will my money buy me?

Expect to pay anywhere from US$198,000 to US$250,000 for a three-bedroom new build and upwards of US$300,000 for a detached house.

One thing the locals like to keep secret:

Away from the restaurants and waterfront bars, there are cool hangout spots such as Beer Barn and Woks and Koi, as well as a conservation centre.