Banana Island is known for being one of the most affluent and exclusive neighborhoods in Nigeria, with land prices often reaching high values due to its prime location and luxurious amenities.
How Much Is A Plot Of Land In Banana Island? The price per square meter of land in Banana Island is approximately $1,101, equivalent to around N458,016.
A plot of land in Banana Island is typically listed for no less than $1 million, approximately N416 million, while an acre of land is priced at approximately $6.5 million, around N2.7 billion.
The highest-priced land in Banana Island reaches up to N4.5 billion, while the lowest-priced starts at N55 million.
Tenants residing in Banana Island can expect annual rents ranging from N25 million to N30 million, excluding additional charges and service fees.
Banana Island stands as an exclusive and upscale residential enclave situated in Lagos, Nigeria. Nestled within the Lagos Lagoon, this man-made oasis is renowned for its opulent properties, top-tier amenities, and breathtaking waterfront panoramas.
Widely acknowledged as one of Nigeria’s most affluent neighborhoods, Banana Island entices affluent individuals, expatriates, and notable personalities alike.
The brainchild of Adebayo Adeleke, a prominent Nigerian entrepreneur and politician, Banana Island emerged in the 1970s and swiftly gained acclaim for its lavishness and exclusivity.
Every aspect of the island has been meticulously crafted, boasting meticulously maintained roads, verdant landscaping, and an idyllic atmosphere. The residential offerings span an array of opulent dwellings, including palatial mansions, soaring apartment complexes, and expansive townhouses.
The denizens of Banana Island relish an extensive selection of top-notch amenities and facilities, thoughtfully designed to foster a luxurious and refined lifestyle. Among these are private beaches, recreational parks, invigorating swimming pools, well-appointed tennis courts, and state-of-the-art fitness centers.
The island further boasts exemplary security measures, ensuring an environment of safety and tranquility for its esteemed residents.
Positioned with strategic intent, Banana Island grants convenient access to Lagos’ commercial and business districts. Its close proximity to Ikoyi and Victoria Island, two other prestigious locales in Lagos, enables residents to partake in a wealth of culinary delights, shopping indulgences, and entertainment options.
The real estate market within Banana Island is in high demand, with property prices reflecting the exclusivity and allure of this extraordinary locale. Possessing a property on Banana Island is regarded as a definitive symbol of prestige and opulence.
All in all, Banana Island affords a refined and serene residential experience to those who seek a lifestyle of grandeur in Lagos. Its captivating surroundings, unparalleled amenities, and proximity to the city’s myriad attractions all contribute to its reputation as one of Nigeria’s most esteemed addresses.
Is Banana Island the most expensive island in Africa?
Banana Island in Ikoyi, Lagos State, Nigeria is Africa’s most expensive neighborhood.
Is Banana Island in Lagos a billionaire’s paradise?
Banana Island, Lagos State, Nigeria Banana island is a billionaire’s paradise in Nigeria, it is one of the most expensive neighborhoods in the world.
The island is approximately 1,630,000 square meters in size.