Ikoyi, Lagos
Lagos's most established old-money address — quiet, tree-lined streets, diplomatic residences, and the highest rents in the state.
Ikoyi sits alongside Victoria Island on the same stretch of coast, within Eti-Osa LGA, and has long been Lagos's most exclusive residential address — home to foreign missions, senior corporate executives, and Banana Island just off its shore. It is quieter and more residential than VI's corporate bustle, with some of the city's oldest colonial-era streets alongside newer luxury towers.
Ikoyi in detail
Typical rent
A 2-bedroom flat in Ikoyi carries the highest average rent of anywhere on Lagos Island — reported at around ₦17.25M/year in the Lagos Island Residential Market Report for 2026, more than double what it was in 2022. Listing-site averages vary far more widely depending on building age and finish, from roughly ₦5M at the low end into the tens of millions for premium towers.
Landmarks & what's nearby
Banana Island, the Lagos Polo Club, and Ikoyi's diplomatic residences.
Security
Among the most heavily secured residential areas in Lagos, reflecting the concentration of diplomatic and senior-executive residents.
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