How much is a Plot of Land in Victoria Island, Fundamentals You Need to Know?
How much does a Plot of Land cost in Victoria Island?
The price of a plot of land in Victoria Island varies as Victoria Island is classified into different partitions. But before we go further, how does buying land in Victoria Island benefit its buyers?
Victoria Island is the commercial hub of Lagos, under the Eti-Osa Local Government Area. This neighborhood has experienced exponential growth in market value, commerce, infrastructure, and well-being, which is the reason for its high demand in the commercial sector.
The difference between the commercial section and residential areas in development can be said to be around 80% to 20%, making lands always in high demand.
Here are different areas in Victoria Island:
- Eko Atlantic
- Oniru
- And major streets/roads like Adeola Odeku, which house so many offices, stores, lounges, malls, etc.
- Ozumba Mbadiwe
- And many more.
To have a good understanding of how much a plot of land costs in Victoria Island, it’s good to know how many square meters (sqm) make up a plot of land in the neighborhood. The reason for this is that the method of measuring land by plots differs between neighborhoods in Lagos, which is why it’s easier and more understandable to know the price per square meter.
Though the average size that makes a plot can be around 500sqm–650sqm in V.I.
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Here is what you can get for different sizes with different amounts in different parts of V.I.:
… (details here)
NGN50,000,000: 30 – 65sqm
NGN100,000,000: 75 – 150sqm
NGN200,000,000: 150 – 250sqm
NGN300,000,000: 200 – 400sqm
NGN400,000,000: 550sqm ………………………….. Victoria Island (Oniru)
300sqm – 450sqm …………………….. Victoria Island
NGN500,000,000: 650sqm ……………………………… Victoria Island (Oniru)
450sqm – 500sqm …………………….. Victoria Island
NGN600,000,000: 750sqm ……………………………….. Victoria Island (Oniru)
650sqm ……………………………… Victoria Island
NGN700,000,000: 800sqm – 850sqm ………………………… Victoria Island (Oniru)
500sqm – 600sqm ……………………………………….. Victoria Island
NGN800,000,000: 900sqm – 1,100sqm ………………………… Victoria Island (Oniru)
550sqm – 650sqm ……………………………………….. Victoria Island
NGN900,000,000: 1,000sqm > ………………………… Victoria Island (Oniru)
600sqm – 650sqm ……………………………………….. Victoria Island
NGN1,000,000,000: 1,800sqm >………………………… Victoria Island (Oniru)
650sqm – 750sqm ……………………………………….. Victoria Island
Eko Atlantic
NGN100,000,000: 10 – 20sqm
NGN200,000,000: 20 – 40sqm
NGN500,000,000: 150 – 250sqm
Note that the prices are in ranges, and they could be lower or higher as a result of different factors, such as:
- Market value
- Lease tenure left on the land
- Owner’s choice
- Purpose of the land (whether residential or commercial)
- Location of the land (whether in Oniru or Adeola Odeku)
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