The billion naira property locations in major cities nationwide

By Philip Shimnom Clement (Abuja), Salim Umar Ibrahim (Kano), Peter Moses (Lagos) & Victor Edozie (Port Harcourt)   The real estate sector is gradually becoming one of the most lucrative of that economy owing to the investments currently ongoing in the property market across the country. From the Federal Capital Territory (FCT) to Lagos the […]

By Philip Shimnom Clement (Abuja), Salim Umar Ibrahim (Kano), Peter Moses (Lagos) & Victor Edozie (Port Harcourt)

 

The real estate sector is gradually becoming one of the most lucrative of that economy owing to the investments currently ongoing in the property market across the country.

From the Federal Capital Territory (FCT) to Lagos the commercial nerve centre of Nigeria and down to Kano, the centre of commerce in northern Nigeria, the story of property business is the same, which is the fact that it is lucrative, and self-liquidating.

Daily Trust takes a look at property locations where houses are traded in billions.

Kano

Kano, a city known for its diverse architectural landscape, boasts premium residential areas where property commands prices exceeding N1 billion.

These high-end locations, often home to top government officials, business moguls, and investors, reflect status, exclusivity and prime real estate value. Here are some of them:

Nassarawa GRA – The Pinnacle of Luxury:

Nassarawa GRA is Kano’s most expensive and exclusive residential area. As the oldest elite settlement, it has long been the preferred choice for top-ranking officials and influential figures.

Initially characterised by pre-colonial mansions with vast compounds, the area has undergone significant transformation, with modern luxury homes now dominating its skyline. Despite these changes, Nassarawa GRA retains its status as Kano’s most sought-after and high-value real estate hub.

Railway Estate – A secure and prestigious address:

Railway Estate, located within the historic Railway Quarters, is one of Kano’s most expensive and secure residential zones. Bordering Audu Bako Way and linking State Road in Nassarawa LGA, it offers prime real estate investments.

Railway Estate’s proximity to Nassarawa GRA, Government House and high-level security presence since the colonial era further enhances its desirability.

Hotoro GRA – A legacy of prestige:

Situated along Maiduguri Road, Hotoro GRA is among Kano’s oldest Government Reserved Areas (GRAs). After Nassarawa GRA and Railway Estate, it ranks as one of the top luxury residential locations.

The area is known for its well-planned infrastructure, serene environment, and premium property pricing, making it a haven for the wealthy and influential.

Bompai – The business and residential hub: Bompai is a strategic mix of upscale residences and business centres. Known for its proximity to Kano’s industrial zones, it has become a prime destination for executives, expatriates and high-net-worth individuals.

The area’s exclusive properties, excellent road networks, and high-security presence make it a top choice for luxury real estate investment in Kano.

Sharada – A growing high-end enclave: Divided into Phase One, Phase Two and Phase Three, Sharada is an emerging luxury residential hub that continues to attract the well-to-do and influential.

Its proximity to the Sharada Industrial Area adds to its appeal, making it a highly sought-after real estate market. The area has witnessed a surge in modern architectural designs and high-value property developments, further boosting its exclusivity.

These high-end locations in Kano highlight the city’s growing luxury real estate market. As demand for premium properties continues to rise, these neighbourhoods remain exclusive enclaves for the elite, where owning a home signifies wealth, influence and prestige.

 Abuja

In the Federal Capital Territory, major choice locations where wealthy Nigerians reside include Maitama, Asokoro, Guzape, Jabi, Gwarimpa, Jahi, Wuse and Katampe among others.

In the FCT, Maitama, Asokoro, Wuse and Gwarimpa are household names associated with where the rich and elite reside.

Also, the likes of Guzape, Jahi, and Jabi among others have also joined the league of areas where properties are sold from N1 billion and above.

For instance properties in Guzape and Jahi, according to a realtor, Tonia Mbah, go for as high as N4 billion.

Also, a real estate expert, Segun Maku, told the Daily Trust that the rising cost of property in choice locations in Abuja is as a result of the high cost of building materials and the prestige attached to the areas.

Port Harcourt

Also, checks by our reporter showed that a fully detached duplex in the high-brow areas of Peter Odili Road, GRA phases 1, 2, 3 and some parts of the Trans Amadi industrial area go for as high as N1.5bn to N2bn.

Our reporter observed that the quality infrastructure, steady light and serene environment of the area make it a hot cake for buyers.

A Port Harcourt-based property consultant, Mr Emeka Ezeguzoze, said, “For you to get any property at Peter Odili Road, GRA phases 1, 2, 3 and Trans Amadi industrial area, you must budget between N1.5bn to N2bn. That area is the most highbrow area of Port Harcourt and that is the area where you will find the elite class of Rivers State. The areas have the best facilities such as super infrastructure, steady light and well-planned landscaping.”

Lagos

Lagos, Nigeria’s commercial nerve centre, ranks high when it comes to high-end real estate. Lagos parades some of the most expensive neighbourhoods in the country and Africa.

In Lagos, Eko Atlantic tops the list. This innovative, man-made city boasts some of the most advanced technology and cutting-edge designs in the world, which is reflected in its sky-high price tags.

Findings showed that it costs over $4,000 per square meter to secure a place in this exclusive community.

 

The Eko Atlantic City project was borne out of a desire to reclaim land on the shores of Victoria Island, pushing back the water of Bar Beach to create a world-class neighbourhood.

Also, Banana Island is another neighbourhood synonymous with wealth and affluence in Lagos. Located in the Ikoyi area of Lagos, this exclusive community is one of the most expensive places to buy land in the city.

Buyers can expect to spend as much as over N2 billion just to secure a piece of land in this exclusive neighbourhood.

Lekki Phase 1 is also a luxurious neighbourhood in Lagos, look no further than Lekki. With its high concentration of successful businessmen and women, business moguls and celebrities from around the country, this area is known for its opulence and affluence.

Victoria Island is known as the Elite Hub of Lagos Real Estate. Victoria Island, simply VI, is known as one of the most upscale residential and commercial areas in Lagos Island, and for good reason. This sophisticated neighbourhood is in a class of its own, home to wealthy businessmen and women, expatriates and management professionals.