“Island” to a Lagosian, and the picture that immediately comes to mind is that
of an impossibly expensive, oppressive environment where one cannot afford to
survive for an extended period of time. While this picture may be true of some
central parts of Lagos Island such as Victoria Island and Ikoyi, there are
still some places within the designated area that offer you the opportunity to
live within your means and save money. Here are the top 5 most affordable
places to live on Lagos Island.
is a sleepy neighbourhood located inside Ajah after Ado roundabout. It is a
coastal area with direct access to the Lagos Lagoon, and it has a ferry jetty
that receives a regular shuttle service servicing Ikorodu and other parts of
the Island. In Badore, a miniflat typically starts from about N250,000, and a
2-bed will set you back about N300,000 annually. To put that in context, 12
kilometres down the road in Lekki Phase 1, these same properties will cost nothing
less than N1.5m annually. As with the other neighbourhoods on this part of the
Island, most properties in Badore are new-builds, and so they have a definite
aesthetic advantage over their equivalents on the Mainland. Amenities located
nearby include several schools, Badore General Hospital, Badore market, petrol
stations and the ferry jetty. For those looking for a bit more, it is also
possible to buy land in some parts of Badore for as little as N3m a plot, which
makes it possible for you to build on a budget. Unlike many other parts of
Lagos, Badore also enjoys excellent power supply, often ranging from 8-23 hours
a day.
further down the Lekki corridor, Sangotedo offers miniflats starting from about
N350,000 annually, and 2-beds going for about N600,000. The prestigious
Pan-Atlantic University’s Lagos Business School is located in Sangotedo, as is
the impressive new Lekki Novare Mall, which is by far the largest mall in
Lagos. The mall features a Genesis Deluxe cinema and all the retail
establishments you would find at The Palms or Ikeja City Mall. There is also a
large local open-air market with cheap consumables and food ingredients, so it
is possible to both rent and live cheaply in this area. If you ever get bored
of this self-sustaining neighbourhood, VI and Ikoyi are always a 40-minute
commute down the Lekku Expressway.
is where the second scheme of the Lekki corridor development plan, sometimes
called Lekki Phase II is supposed to start. Due to the delay in actualizing the
masterplan, it has become a somewhat chaotic place, but that comes with a set
of unique opportunities. A miniflat here typically starts from about N250,000,
with a 3-bed going up to N700,000. These figures would be multiplied by 3 or 4
if the properties were located 1.5km down the road at Victoria Garden City.
Ajah has one of the largest street markets on the Island offering everything
from bargain deals on petrol generators to cheap clothes and food. The new
Jubilee flyover bridge has slightly improved the chaotic traffic situation at
the Ajah turnoff on the Lekki Expressway, and like Badore, Ajah enjoys some of
the best power supply in Lagos, so you will definitely save on the petrol or
Adeniji Adele Estate Phase 2
just at the end of 3rd Mainland Bridge coming into the Island,
Adeniji Adele Estate Phase II has a range of accommodation generally starting
from about N300,000 to about N500,000. Its location is the Lagos commuter’s
dream because it completely avoids the morning and evening 3rd
Mainland Bridge rush hour traffic. It is also smack dab next to Balogun market,
the largest street market in West Africa where some of the best merchandise can
be found at the lowest prices. It is 10 minutes away from the goodies of
Victoria Island and Ikoyi at just a fraction of the rental prices of those
39km down the Lekki Expressway, some may consider Awoyaya to be a bit too far
from the CBD to make its cost savings worthwhile. Certainly if you work on
Victoria Island and wake up at 5am every morning to catch a bus from Awoyaya,
this could be the case. For many who work closer to the area or work at home,
Awoyaya is increasingly becoming a new frontier. Featuring some of the best
architecture in Lagos and several high-end estate developments, Awoyaya is now
where Lekki Phase 1 was as at 1991. With the average flat here starting from
N450,000, it is certainly within the range of the affordable, and a raft of
local amenities including a general hospital, several schools, and a retail
mall under construction make it a rental destination to consider on a budget.
will not escape your notice that 4 of the 5 listed areas are on the Lekki-Epe
Expressway corridor and as such, are not strictly on “the Island” at all per
se. The reality is that central Lagos Island is actually an expensive place,
and substantially more expensive than most of the Mainland. The Lekki-Epe
corridor is the new frontier of both the Island and Lagos as a whole, and that
is why a lot of development is going on there. If you are a renter, this is
your chance to find a decent rental accommodation at a reasonable price, before
it inevitably starts inching up, and if you are a buyer, this is the time to
invest in the area. It is a relatively “cheap” place to be for now, but in
another 15 years, that will not be the case. Where will the next “cheap Island
area be? Poka-Epe? Lekki Town? Who knows?

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