Lagos Real Estate Market Report Q2 2026

The Lagos real estate market showed resilience in Q2 2026, with sustained demand in the premium residential segment and increasing activity in the commercial sector.

Key Trends: Luxury residential prices in Ikoyi and Lekki Phase 1 rose 5% quarter-on-quarter, driven by limited supply and strong diaspora demand. The rental market remained robust, with annual yields of 6–8% in prime locations.

Emerging Neighbourhoods: Eko Atlantic City continues to attract premium commercial tenants. Lakowe Lakes is gaining traction as a lifestyle destination. Ibeju-Lekki land values are rising steadily.

Commercial Market: Office vacancy rates on Victoria Island dropped to 12% from 18% in Q1, signalling a strong return-to-office trend. Retail spaces in high-traffic areas remain in high demand.

Outlook: We expect continued growth in the premium segment, steady land appreciation in development corridors, and increasing interest from international investors as Nigeria’s economic reforms take hold.