“Ikoyi” covers some of the most expensive addresses in Nigeria, but it is not a single price. A plot in Parkview Estate and a plot on Bourdillon Road, a short drive apart, can be advertised at more than twice the price per square metre. This guide sets out what property in Ikoyi is being advertised for in 2026, by property type and by street, so you can judge any price you are quoted, whether you are buying or pricing a home to sell.
It covers Ikoyi proper: Old Ikoyi, Parkview Estate, Dolphin Estate, Osborne and the Bourdillon corridor. Banana Island is excluded, because it is priced as a market of its own.
Quick answer: Ikoyi property prices in 2026
| Land | ₦1.5m – ₦5m per sqm |
| 3-bedroom apartment | ₦580m – ₦750m |
| 5-bedroom detached duplex | ₦1.4bn – ₦3.5bn |
| 6-bedroom mansion | ₦2.5bn – ₦5bn |
Ikoyi prices by property type
These ranges reflect current advertised asking prices for comparable property across Ikoyi. Individual streets and buildings can sit outside them.
| Property type | Typical asking range | What drives the range |
|---|---|---|
| Land, per sqm | ₦1.5m – ₦5m | Parkview at the low end; Bourdillon Road and prime Old Ikoyi at the top |
| 2-bedroom apartment | ₦360m – ₦750m | Older blocks versus new towers on premium streets |
| 3-bedroom apartment | ₦580m – ₦750m ($650k – $1m) | The most common configuration on the market |
| 4-bedroom apartment | $1.27m – $1.7m | Mostly boutique towers around Bourdillon Road |
| Maisonette (duplex apartment) | $1.56m – $2.0m | Four-bedroom maisonettes within apartment buildings |
| Penthouse | $716k – $3m+ | Entry penthouses up to multi-floor penthouse villas |
| Semi-detached or terrace duplex | ₦450m – ₦1.0bn | Limited supply, mostly Parkview and Dolphin Estate |
| 5-bedroom detached duplex | ₦1.4bn – ₦3.5bn | Age, plot size and street |
| 6-bedroom detached mansion | ₦2.5bn – ₦5bn | Mainly Old Ikoyi and Parkview |
Land prices in Ikoyi, street by street
Land shows most clearly how much the street matters. These are advertised asking prices per square metre:
| Street or estate | Asking price per sqm |
|---|---|
| Parkview Estate (inland) | ₦1.5m – ₦1.8m |
| Parkview Estate (waterfront) | ₦1.65m – ₦2.0m |
| Old Ikoyi (Bank Road, Macdonald Road) | ₦2.3m – ₦2.8m |
| Osborne Phase 1 | ₦2.5m – ₦3.3m |
| Old Ikoyi (Glover Road, Probyn Road) | ₦3.0m – ₦4.3m |
| Bourdillon Road and Alfred Rewane Road | ₦3.8m – ₦5.0m |
Market analysis cited by AOP Homes puts Ikoyi’s broad average at around ₦2.15 million per sqm in 2025, up about 412% over five years. That is a useful headline, but it sits in the middle of a much wider street-level spread, so always ask which street a quoted average describes.
Large sites can price lower per square metre. On Propslisting, 12,000 sqm (3 acres) on Gerrard Road, Old Ikoyi is advertised at ₦16.8 billion, about ₦1.4 million per sqm, well below typical small-plot rates on nearby streets. Big parcels attract fewer buyers and usually need significant investment to develop.
Ikoyi budget estimator
Choose a property type to see the asking range current evidence supports.
Typical asking range
₦580m – ₦750m
Dollar-priced units: about $650,000 – $1,000,000.
A rough guide from current asking prices. Street, title, size and finish move the number.
Ikoyi property on Propslisting
Here is how current Propslisting listings compare with the benchmarks:
| Listing | Asking price | Against the market |
|---|---|---|
| 2-bedroom apartment, Osborne Phase II | ₦410,000,000 | Toward the lower half of the 2-bedroom range |
| 3-bedroom ultra-luxury maisonettes with BQ, Glover Road | ₦2,152,800,000 | Premium new-build maisonettes on a top Old Ikoyi street |
| 12,000 sqm land, Gerrard Road, Old Ikoyi | ₦16,800,000,000 | About ₦1.4m per sqm: a large-site rate |
See every listing and our area guide on the Ikoyi property page.
Why Ikoyi prices vary so much
- The street: Bourdillon Road, Glover Road and Alfred Rewane Road command a clear premium over the rest of Ikoyi.
- Title: most land carries a Lagos State C of O or Governor’s Consent, but some Old Ikoyi parcels are still on a Federal C of O, which affects the transfer process.
- Plot size: prices are quoted per square metre, and large sites usually price lower per sqm.
- Old buildings: many Old Ikoyi plots come with a house that a buyer will demolish; check whether that is priced in.
- Currency: many premium homes are priced in US dollars.
- Service charge: boutique towers can carry large annual charges that change the true cost of owning.
- Completed versus off-plan: Ikoyi is largely built up, so most homes for sale are completed. Off-plan is the exception, so ask why a unit is being sold ahead of completion.
Is Ikoyi worth the price? Read our analysis: why property in Ikoyi is so expensive, how it compares with Miami and Manhattan, and the case that it lacks green space.
Selling property in Ikoyi
If you own in Ikoyi, price from evidence on your own street, not from the district average. Adjust for title, plot size, condition and service charge, and for high-value homes consider a valuation by a registered estate surveyor and valuer. Read how to work out what your property is worth.
Many Ikoyi owners prefer not to advertise their homes publicly. Propslisting offers private, off-market listings: nothing is published online, the title is verified first, and your property is presented only to vetted buyers you approve. Public or private, listing is free and our fee is 5% only when the sale completes.
Buyer checklist for Ikoyi
- Have a lawyer verify the title at the Land Registry before you pay anything. See how to confirm title documents.
- Commission a surveyor to confirm the plot size, because prices are quoted per square metre.
- Confirm whether an existing building is included in the land price.
- Agree the currency of payment in writing.
- For apartments, ask for the service charge and what it covers.
- For off-plan units, check the developer’s track record, approvals and payment schedule. See the documents to ask for.
Frequently asked questions
How much is land per square metre in Ikoyi in 2026?
Current asking prices run from about ₦1.5 million per sqm for inland plots in Parkview Estate to around ₦5 million per sqm on Bourdillon Road and Alfred Rewane Road. Large sites can be priced lower per sqm.
How much is a 3-bedroom apartment in Ikoyi?
Most current asking prices for 3-bedroom apartments in Ikoyi sit between about ₦580 million and ₦750 million, or roughly $650,000 to $1 million for dollar-priced units.
How much is a detached house in Ikoyi?
A 5-bedroom detached duplex is typically advertised between about ₦1.4 billion and ₦3.5 billion, and 6-bedroom mansions between about ₦2.5 billion and ₦5 billion, depending on street, plot size and age.
Does this include Banana Island?
No. Banana Island is postally part of Ikoyi but is priced as its own market, usually well above the ranges in this guide.
Are these sale prices?
No. They are advertised asking prices, current in late 2026. Final sale prices are often negotiated lower, and every property should be verified independently.
How do I price my Ikoyi property for sale?
Compare it with similar properties on the same street, adjust for title, size, condition and service charge, and consider a valuation by a registered estate surveyor and valuer. Propslisting can discuss pricing when you list for free.
Sources and methodology
Price ranges are advertised asking prices compiled by AOP Homes Advisory, Propslisting’s sister company, current as of September 2026, with Banana Island excluded. Propslisting examples are our own listings as of November 2026. Asking prices are not verified transaction prices; Lagos listings can be stale or duplicated. This guide is general market information, not investment, legal or financial advice.
