Victoria Island is Lagos’s most liquid premium property market. This guide covers prices by property type, five VI micro-markets, the title verification process, transaction cost breakdown, and the key questions every buyer should ask before committing.
The most important rule: title before funds
C of O (Certificate of Occupancy) is the standard title for all premium VI residential. A physical Lands Registry search at Alausa before any fund commitment is non-negotiable for any VI transaction above ₦50m. This single step eliminates the most serious buyer risks in the market.
Buy-to-let context
Mid-tier VI apartments (3-bed, ₦200m–₦500m) yield 4–7% gross annual return with strong corporate and diplomatic tenant demand. Management quality is the primary determinant of net yield — a well-managed block with consistent generator supply and professional maintenance has materially lower vacancy than an equivalent poorly-managed building.