Ikoyi apartments appreciated 132 percent over the past 12 months. That number needs context before it becomes a buying thesis.
Three forces drove the run. Supply in the corridor is structurally constrained: buildable land is scarce, approvals are slow and the premium zones are effectively complete. Naira dynamics pushed dollar-earning buyers toward hard assets. And diaspora inflows hit record levels, with 60 to 70 percent of premium transactions now funded from abroad.
The honest read: appreciation at this pace does not compound indefinitely. Asking prices and transaction prices have already diverged, which is where negotiation lives. Our position is that the corridor remains the strongest store of value in Lagos, but entry now demands comparable analysis, not momentum.
Request the full Ikoyi corridor report for verified comparables and our 18-month outlook.
