Rac Spotlight On Lagos Housing Development – Eko Atlantic City (2015)
Share this report
Subscribe to our newsletter
Summary
Right from the onset land and property prices in Eko Atlantic was set to break records
as initiall land prices ranged from US$1,000 / sq. m. Due to fast growing interest
especially from international firms land prices have risen strongly over the years
and according to a report in 2014 by MCO Real Estate land values in Eko Atlantic
rose by as much 22% in capital appreciation. At the prevailing market rate, land
prices in Eko Atlantic City have risen in value by as much 85%since the project
inception. According to data obtained during the course of writing this report, the
average price for a 2 bedroom apartment in one of the high rise towers currently under
construction in Eko Atlantic City was selling for US$853,750 (Naira 168,188,750) and for a 3
bedroom apartment in the same tower US$1,010,000 (Naira 198,970,000).
