Ikoyi Residential Market Report, 2021
The Ikoyi Real Estate market stands out not only in Lagos but Africa as a whole, it represents one of the most valuable and most desirable residential addresses money can buy. This special appeal is mostly influenced by its unique location, quality of buildings and neighbours among other intangible characteristics that make it a prime market.
No doubt, 2021 was a great year for the Ikoyi market, with healthy demand for all real estate sub-asset classes and an unprecedented absorption rate in the market. The vertical development trend continues to gain momentum in Ikoyi, Empire court was delivered in 2021 with other notable developments like Belmonte, Cuddle, and Amazing Grace Tower due for delivery in 2022. Other trends that shaped the Ikoyi market in 2021 were discussed in this report.
Despite the heightened uncertainties that hovered around the market at the fall of the 360 degrees Building collapse in November 2021, overall sales and general absorption rate were strong in all real estate sub-asset classes.
For us at CWRE, 2021 marked a year in which we broke new frontiers in the Ikoyi market, our neighbourhood specialists in Ikoyi doubled, further consolidating our growing presence and neighbourhood knowledge, and our listing portfolio increased by 50% with a 200% increase in leads generated, our transaction volume in the market is at +$17M for 2021
CWRE 2021 report provides a detailed overview of the Ikoyi Real Estate residential market, it covers the trends, market posture and other key market indicators.
We hope that you find this report a valuable tool and resource in your real estate decision making in Ikoyi as we believe a key understanding of Market Trends and price movements is essential to securing a good deal in any real estate transaction.