Surulere is a middle-income neighborhood in Lagos, driven by residential and light commercial activity. Due to its relatively central location and proximity to Lagos Island and Victoria Island, it has become a location of choice for young people and the middle-income population in Lagos. Surulere is not only accessible to the Island but also has good connectivity to Ikeja, Ilupeju, Yaba, and other important parts of the Lagos Mainland. Two major Stadiums in Lagos are located in Surulere, they include The National Stadium and Teslim Balogun Stadium, with a host of private ventures including Quick Service Restaurants, local canteens, lounges, hotels, and clubs. It has a handful of smaller-scale retail and leisure developments including the Adeniran Ogunsanya Shopping Mall, and Leisure Mall.

The region, which was initially a prime option for civil servants, and business owners in the 90s, is now seeing larger volumes of investment in the residential sector. In recent times, the area has attracted young professionals and young families who are typically drawn by the allure of its affordability, and transport connectivity especially around the Aguda, Ijesha, Ayetoro, and Brown Road suburbs. On the Northern end, Ogunlana Drive, Bode Thomas, Adelaku, and Eric Moore have been top choices for business executives working closeby due to its road connectivity, serenity, and amenities. Although top-tier areas such as Ikoyi, Victoria Island, and Lekki Phase 1 have historically absorbed the largest chunk of the upper class in Lagos, Surulere has retained some share of the market, among those who had bought properties in the neighborhood many years ago.

The full version of this article has now been moved to our curated download center for subscribers. 

Subscribe to ei Pro to read the full Surulere Market Analysis, which gives a more in-depth analysis of other market data that we track including; sales and rental rates, yields, supply drivers, stock breakdown, occupancy rate, and information on key contractors who are active in the market.