The Rise of High-Rise Luxury Living in Ikoyi Phase 2 (BeYourLandlord Updates 2025)

3-bedroom flat, Ikoyi

Why Ikoyi Phase 2 Is the New Frontier for Luxury High-Rises

New Ikoyi: The Future of Luxury Real Estate in Lagos

In recent years, New Ikoyi, also known as Ikoyi Phase 2, has rapidly become one of the most desirable addresses in the Lagos luxury property market. While traditional Ikoyi has long been synonymous with prestige, exclusivity, and affluence, Phase 2 is emerging as the new face of modern urban living.

From Traditional Ikoyi to Ikoyi Phase 2

For decades, Old Ikoyi has been home to Nigeria’s elite, high ranking government officials, and international expatriates. Its leafy boulevards, exclusive clubs, and prime roads such as Gerrard Road and Bourdillon Avenue have defined the standard of luxury living in Lagos

However, the demand for modern housing solutions and contemporary infrastructure has fueled the growth of New Ikoyi, stretching towards Osborne Foreshore and surrounding serene neighborhoods. This expansion has created a vibrant, upscale enclave that appeals to a new generation of buyers and investors.

A Hub for Modern Developments

Ikoyi Phase 2 is now a focal point for some of Lagos’s most innovative real estate projects, with developers introducing:

Ultra modern high-rise apartments with panoramic views
Smart residences equipped with home automation systems
Fully serviced luxury homes designed for convenience and lifestyl

These residences are built with state of the art amenities such as:

Rooftop infinity pools
Wellness and fitness centers
Private cinemas and entertainment lounges
Dedicated children’s play zones
24/7 power supply and top-tier security systems

This shift reflects the growing demand for luxury living spaces that combine comfort, style, and technology.

The Appeal of New Ikoyi

Several factors make Ikoyi Phase 2 especially attractive to homebuyers and investors:

Serene Environment – Unlike the busier parts of Old Ikoyi, Phase 2 offers quieter surroundings, blending luxury with tranquility.
Improved Infrastructure – Well paved roads, upgraded drainage systems, and better urban planning ensure a more organized living experience.
Strategic Location – Its proximity to Victoria Island, Lekki, and Lagos Island makes it ideal for professionals, families, and expatriates.
Lifestyle & Convenience – Easy access to business districts, international schools, hospitals, embassies, and recreation centers like Ikoyi Club 1938.

A Strategic Investment Location

Beyond lifestyle, New Ikoyi is fast becoming a prime investment destination. Rising demand for secure, well planned communities is driving property values upward, with prices appreciating steadily year after year.

Investors are drawn to Ikoyi Phase 2 because:

It offers higher ROI than many other Lagos neighborhoods.
It attracts a mix of local elites and global investors, ensuring strong rental demand.
Properties here are built with long term value in mind, appealing to both homeowners and investors looking for capital appreciation.

Ikoyi’s Role in Lagos’s Global Evolution

As Lagos positions itself as a world class megacity, New Ikoyi stands at the forefront of this urban renaissance. It represents the perfect balance between heritage and modernity, offering residents a lifestyle that blends:

Opulence – luxury homes with world class amenities
Comfort – thoughtfully designed, serviced living spaces
Convenience – central access to business and lifestyle hubs

For those seeking luxury real estate in Lagos, Ikoyi Phase 2 is no longer just an alternative to Old Ikoyi, it is the future of upscale living in Nigeria.

Several factors are driving this shift:

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2025 Price Guide: What 3bedroom apartments in Ikoyi Are Selling For

If you’re looking to buy a 3bedroom flat in Ikoyi, especially within the growing high-rise market in Phase 2, it’s crucial to understand current market pricing, and what drives those numbers.

Here’s what you should know in 2025:

Average Price Range (2025): 3bedroom Apartment Ikoyi

Newly built 3bedroom Apartment in Ikoyi Phase 2 range from ₦750M to ₦1.4B, depending on the finishing, location, and amenities offered.
Serviced high-rise apartments & Penthouses with luxury features, such as elevators, pools, gyms, and concierge services, often start at ₦1.6B and can go above ₦3.7B, especially in newer, more iconic buildings.

If you are looking for finished Maisonettes for sale go to>> Maisonette for sale

Location Still Matters

While Phase 2 is booming, certain areas command premium value. Developments near Osborne Foreshore, Glover Extension, and close to Bourdillon or Queen’s Drive are especially sought after for their exclusivity and views of the Lagos Lagoon.

High-Rise vs Mid-Rise Living

High-rise towers (8–22 floors) offer greater status, better views, and often more high end amenities, justifying their elevated price points.
Mid-rise buildings (4–7 floors) provide solid value for those seeking luxury in a more intimate estate setting.

Off-Plan vs Fully Built Units

Off-plan 3bedroom apartments in top estates typically start from ₦650M to ₦1.1B, offering room for price appreciation before delivery.
Fully finished homes in gated, serviced estates range from ₦2.5B upward, especially when furnished or customized.

Featured Estate: Oak Place, Ikoyi
Newly finished 3bedroom apartment Ikoyi with energy efficiency.

One of the standout developments in Ikoyi Phase 2 is Oak Place. A boutique luxury high-rise offering a limited number of architecturally stunning 3bedroom flats, complete with premium interiors, underground parking, cuttingedge full smart home technology, rooftop lounge and Jacuzzi, 3 elevators, and full energyefficient system. Located strategically within a secure enclave, Oak Place is designed for elite buyers who value privacy, design, and high investment potential.

Top 5 Luxury Estates in Ikoyi With New High-Rise Apartments

As demand rises for serviced apartments and high-rise living in Ikoyi, a new generation of luxury estates is redefining the skyline, offering not just space, but status, security, and smart investment value. Here are five of the most sought-after developments in 2025:

1. The Oak Place, Ikoyi Phase 2

The Oak Place is a signature blend of elegance and engineering developed by Oak Homes Limited. It features a limited collection of 3bedroom smart apartments and 2 units of 4bedroom maisonette penthouses at the Oak Apartments. Also features 4 exclusive units of 5-bedroom Triplex on 650SQM at the oak Villa. With an emphasis on architectural design, top-tier finishing, and privacy, it caters to elite homeowners looking for a balance of comfort and class. Residents enjoy underground parking, gym, concierge, and full smart-home automation. This is the kind of address people do not forget you own.Location: Glover Road, Ikoyi
Ideal For: CEOs, diaspora buyers, and high level professionals

2. Bluewater Tower, Bourdillon Axis

A high-rise masterpiece with stunning lagoon views, Bluewater Tower is known for its expansive glass façades, world class lobby, and rooftop lounge. It’s a favorite among foreign investors and diplomatic residents.
Location: Bourdillon Road
Ideal For: Diplomats, UN staff, and luxury expats

3. Osborne Heights Estate

Located within the highly secure Osborne Foreshore Phase 2, this estate features 3-4 bedroom serviced apartments with elevator access, water view balconies, and a central generator plant. It’s a solid investment for rental returns.
Location: Osborne Phase 2
Ideal For: Rental investors and long term residents

4. The Belmonte Residences

Known for its refined Italian finishes and private lifestyle perks, Belmonte offers just a few exclusive units per floor. Features include a clubhouse, spa, and underground parking.
📍 Location: Gerrard Extension
Ideal For: HNWIs looking for ultra low-density living

5. Admiralty Luxury Towers

Modern, functional, and very investor friendly. With spacious 3bedroom layouts and modern interiors, this estate is often fully occupied, making it a favorite for buy-to-let owners.
📍 Location: Near Banana Island Gate
Ideal For: Corporate buyers and investment portfolios

What You Must Know Legally Before Buying Property in Ikoyi
3bedroom apartment owners in Ikoyi

Purchasing a 3 bedroom flat in Ikoyi, especially in serviced high-rise estates, is a significant investment, and the legal side must be handled with the utmost care. Ikoyi’s status as a prime real estate zone means that buyers need to be vigilant, particularly when dealing with off-plan purchases, estate agreements, or resale titles.

Here’s what every informed buyer should know:

1. Title Verification Is Essential

Never assume a property is legitimate just because it looks luxurious. Always work with a trusted real estate lawyer to verify:

Governor’s Consent
Certificate of Occupancy (C of O)
Deed of Assignment
Any pending litigation or land disputes

In Ikoyi Phase 2, many older properties are undergoing redevelopment, and ensuring that the property has clear legal titles is crucial.

2. Check the Developer’s Credentials

If you’re buying an apartment off-plan, it’s essential to verify the developer’s legitimacy:

CAC registration & Previous project
Development/Building approvals from Lagos State Physical Planning Authority
Survey plan & the deed of assignment history
Proof of compliance with Environmental Impact Assessment (EIA) for high-rise projects

Reputable developers follow the legal process to ensure timely and transparent delivery.

3. Understand the Estate’s Legal Framework

Many new estates in Ikoyi are serviced communities with shared facilities and maintenance. As a buyer, it’s important to:

Review the Deed of Sublease
Understand your rights and obligations as an owner
Check the estate’s bylaws and service fee structure

Having a solid understanding of the community’s governance and maintenance fees will save you from future disputes.

4. Get a Proper Contract of Sale

Whether you’re paying outright or through installments, ensure the agreement includes:

Timeline for delivery (if off-plan)
A clear description of finishes and fixtures
Refund terms (in case of breach)
Penalties for delays

Always get everything in writing, and ensure a lawyer reviews the contract to protect your interests.

By understanding these critical legal steps, you’re not just purchasing a flat — you’re ensuring peace of mind, legal protection, and long-term value.

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