Land prices in Banana Island, Lagos
Banana Island is a district in Ikoyi, Eti Osa LGA, Lagos, in the prime zone. Residential land is about ₦6.7m per m², so a typical 600 m² plot is about ₦4.02bn.
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| Typical 600 m² plot | ₦4.02bn | residential |
| Land: residential | ₦6.7m | per m² |
| Land: commercial | ₦9.7m | per m² |
| Land: industrial | ₦3.3m | per m² |
| Building: 2-bed flat | ₦510.2m | asking price |
| Building: 3-bed flat | ₦624.8m | asking price |
| Building: 4-bed house | ₦821.3m | asking price |
| Building: 5-bed house | ₦2.35bn | asking price |
| Rent: 1-bed / mini flat | ₦9m | per year |
| Rent: 2-bed flat | ₦22.7m | per year |
| Rent: 3-bed flat | ₦28.4m | per year |
| Rent: 4-bed house | ₦32.6m | per year |
| Rent: shop or office | ₦1.4m | per m² per year |
Eti Osa LGA as a whole: ₦504,000 per m² median. Coordinates 6.46090, 3.44910.
Questions people ask
How much is a plot of land in Banana Island, Lagos?
A typical 600 m² residential plot in Banana Island, Lagos is about ₦4.02bn (around ₦6.7m per m²) in asking prices as of October 2026. Commercial land is about ₦9.7m per m². Source: Buildocrat Land Value Book, updated weekly.
How much is rent for a 3-bedroom flat in Banana Island, Lagos?
About ₦28.4m a year for a 3-bedroom flat, ₦22.7m for a 2-bedroom flat and ₦9m for a 1-bedroom or mini flat (October 2026).
How much does a 4-bedroom house cost in Banana Island, Lagos?
Asking prices for a 4-bedroom house in Banana Island, Lagos are around ₦821.3m; a 3-bedroom flat around ₦624.8m (October 2026).