Lagos has 5 distinct Class A submarkets we track, anchored by Victoria Island (VI) at the trophy tier.

  • 5 submarkets covered.
  • Trophy tier: Victoria Island (VI), Ikoyi, Eko Atlantic City.
  • Prime tier: Lekki Phase 1 / VI Extension, Marina (Lagos Island).
  • Established/emerging tier: —.

Lagos Class A submarkets

Lagos has 5 distinct Class A submarkets we track, anchored by Victoria Island (VI) at the trophy tier.

TL;DR

  • 5 submarkets covered.
  • Trophy tier: Victoria Island (VI), Ikoyi, Eko Atlantic City.
  • Prime tier: Lekki Phase 1 / VI Extension, Marina (Lagos Island).
  • Established/emerging tier: —.

By tier

**Victoria Island (VI)** (trophy, ~₦100,000/sqm/yr · ≈ $6.22 PSF/yr USD) — Lagos's trophy financial core. **Ikoyi** (trophy, ~₦95,000/sqm/yr · ≈ $5.91 PSF/yr USD) — Embassy and luxury HQ enclave. **Eko Atlantic City** (trophy, ~₦90,000/sqm/yr · ≈ $5.6 PSF/yr USD) — Master-planned trophy frontier. **Lekki Phase 1 / VI Extension** (prime, ~₦60,000/sqm/yr · ≈ $3.73 PSF/yr USD) — Trophy expansion corridor. **Marina (Lagos Island)** (prime, ~₦50,000/sqm/yr · ≈ $3.11 PSF/yr USD) — Historic CBD with banking heritage.

Key facts

cityLagos
countryNigeria
regionEMEA
classARentLocal90000 NGN/sqft/yr
classARentUsd$60/sqft/yr
vacancy17.6%
typicalLeaseYears2
typicalRentFreeMonths4
submarkets5
primeYieldPct9.6%
trophyCount3
primeCount2

Frequently asked questions

How many Class A submarkets are in Lagos?
5, ranging from trophy (Victoria Island (VI)) down to established and emerging clusters.

Editorial provenance

Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.

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