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Things to Think About Before Relocating to Ikoyi

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Relocation to Ikoyi

Ikoyi is a prominent and affluent neighborhood located in the heart of Lagos which also doubles as the largest city in Nigeria. 

Situated on Lagos Island, Ikoyi is known for its serene and picturesque setting, with its tree-lined streets, well-manicured gardens, and breathtaking views of the Lagos Lagoon. 

With its mix of luxury living, cultural landmarks, and serene ambiance, Ikoyi is a sought-after destination for both locals and visitors alike.

A Sneak Peek Into the Goodies Ikoyi Has in Store For You

The neighborhood is renowned for its upscale residential estates, luxury hotels, high-end restaurants, and exclusive boutiques, making it a popular destination for the wealthy and influential in Lagos. 

Ikoyi also houses several prominent landmarks, including the Nigerian National Museum, the Ikoyi Club, and the Lagos Polo Club. 

While working in Nigeria, most foreign expatriate employees of oil firms and significant international and global organizations are granted residences in Ikoyi. 

Hotels & Apartments owned by Wells Carlton, Gardens View for the lagoon, The Address Homes, Towers Foreshore, and similar estates in Banana Island, Abacha, Osborne, and Park View, Foreshore estate, among others, can all be found to the northeast of Ikoyi. 

There is no disarray: the roads are connected and this part of Ikoyi is very clean. The Lagos elite and billionaires live there, especially within Ikoyi West, while the south leads you to Obalende. 

The Dolphin Estate is close by while Obalende is located very close to Lagos Island. Awolowo Road, a well-known area in Ikoyi, is situated by the left side of the roundabout, Falomo Bridge. 

The major thoroughfare of a business district is Awolowo Road. Corporations and privately held companies, including boutiques, cybercafés, and eateries/restaurants also dominate the area.

Numerous parastatals and Nigerian government buildings, including the NDLEA, the EFCC, the Marriage Registry Ikoyi, Lagos Police stations, upscale shops, and military cantonments, in addition to private companies, opulent hotels, eateries, and international organizations like Google branch offices in Nigeria, the branch offices of United Nations, British American Tobacco, etc.

Reasons Why You Should Give Relocation to Ikoyi a Shot

It’s no longer news that Ikoyi is a posh neighborhood that houses wealthy businessmen, socialites, business partners, and senior corporate officials. So if you are looking to move to this amazing part of Lagos, here are some reasons why you should consider it:

Decent Roads

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Most of the roads in Ikoyi are decent and quite motorable. Thus, it is no gainsaying that the Lagos state government adequately maintains them and they are either connected or paved.

Due to careful and contemporary architectural planning deployed into building Ikoyi, the roadways have a consistent width and drainage ditches on both sides which ensure that water is gathered in canals and then poured into the lagoon.

Excellent Security System

The Ikoyi area is generally considered safe with a visible police presence and security patrols. There are also several private security companies that offer security services to residents and businesses in the area. 

Going further, Ikoyi has police stations and security posts alongside armed security guards hired by apartment buildings and estates.

Property Value Growth

The property market in Ikoyi has experienced steady growth over the years, driven by various factors such as its strategic location, excellent infrastructure, and attractive lifestyle amenities.

One of the key drivers of property value growth in Ikoyi is its prime location. It is situated on Lagos Island, which is a popular commercial and residential area in the city. This location makes it attractive to investors and homebuyers who want to be close to the city’s business and entertainment districts.

Compared to a few years ago, the rent for a luxury apartment in Ikoyi with three bedrooms ranged from ₦12,000,000 to ₦40,000,000; a typical plot of land costs around ₦500,000,000.

Public Services

Ikoyi is home to a sizable number of eye clinics, pharmacies, public health, and hospital services. In the area, there are many banks and ATMs. Nearly all reputable banks’ locations can be found in Ikoyi. Here is the list of public services available in Ikoyi

1. There are several hospitals and clinics in Ikoyi that offer a range of medical services, including general health check-ups, specialized treatments, and emergency services. 

Some of the hospitals in Ikoyi include Reddington Hospital, St. Nicholas Hospital, and Lagos University Teaching Hospital (LUTH).

2. Education: There are also several public and private schools in Ikoyi that offer quality education for students of all ages, including nursery, primary, secondary, and tertiary levels. 

Some of the popular schools in Ikoyi include Corona School, St. Saviour’s School, and Greenwood House School.

3. Transport: Ikoyi is well-connected to other parts of Lagos via road and water transport. 

There are several bus stops and taxi services in the area, as well as the Ikoyi Ferry Terminal, which provides water transport to other parts of Lagos.

Factors to Consider Before Moving into Ikoyi

There are numerous reasons why relocating to Ikoyi can be a smart choice but there are a few things you should think about first.

Expense of Living

Make sure your spending plan can accommodate Ikoyi’s increased cost of living with the rent for multi-story buildings and vertical apartment buildings.

Ikoyi has some of the highest property costs in the country, so you should consider your budget and affordability level carefully before relocating there. Budgeting may also be required for extras like private medical services and recreational options like tennis courts and golf courses that are offered in Ikoyi. 

These additional costs may quickly accumulate depending on your lifestyle and needs, so it is important to factor them in before deciding whether to relocate to Ikoyi. 

Therefore, it’s crucial to investigate Ikoyi and take your budget into account before choosing. “This will assist in determining whether Ikoyi is the best option for you or your family.” 

Lifestyle Quality

You should also consider the standards of living in Ikoyi before making a decision to move there. Rich and well-connected people live in Ikoyi and this explains why this area has access to various amenities that may not be available in other sections of Lagos. 

Due to the growing wealth disparity in Ikoyi, this may be accompanied by additional stress factors such as traffic jams and rising crime rates. 

Therefore, before you decide to relocate to Ikoyi, it is crucial that you embark on some preliminary research on the location and ensure that the prevailing lifestyle on offer matches your needs and expectations.

It is also helpful to speak with residents in Ikoyi to get their opinions on what the city has to offer. “This can assist you make the best decision possible regarding Ikoyi.” 

Labour Market 

With its growing economy, Ikoyi offers a lot of employment prospects. However, you should note that it could be more difficult than in other areas of Lagos to locate a job that matches your interests or skill set. 

In addition, Ikoyi’s high cost of living might make it challenging to live there. Therefore, before making the decision to go there, it is crucial to investigate the job market and ensure that you have a good option for employment. 

Making sure that Ikoyi is the proper decision and that it provides the kinds of career chances you are searching for can be accomplished by taking the time to investigate the company and take into account potential job opportunities. 

Transportation Facilities

Ikoyi boasts a network of well-maintained roads and motorways if you want to drive. It also has excellent public transportation choices and well-maintained roads, which make traveling simple.

However, Ikoyi’s traffic congestion can be a headache during rush hour and this factor should also be taken into account before moving there. Therefore, doing some preliminary study on Ikoyi’s transportation system might help you decide if Ikoyi is the best option for you and your family. 

Public Life

The social scene in Ikoyi should be considered when determining whether or not to relocate there. Ikoyi boasts a thriving social scene with many pubs and restaurants with international chefs and courteous staff, as well as an expanding art museum with a depth of artistry and culture. 

Additionally, both locals and tourists can enjoy the numerous activities that Ikoyi has to offer including boat trips and beach days.

Moreover, conversing with locals will help you get a sense of the social scene in Ikoyi and determine whether or not Ikoyi is the best option for you and your family.

Customs and Culture

Depending on where you are from, Ikoyi’s culture may be different from what you are accustomed to. Ikoyi is home to a diverse population, therefore before relocating, it’s necessary to acquaint yourself with the customs there. 

Places to Live in Ikoyi

Ikoyi is an affluent neighborhood with luxury apartment buildings located in Lagos, Nigeria. It also doubles as home to many luxurious residences and crème de la crème of Lagos.  Known for its high-end real estate and community guidelines some of the pristine neighborhoods within Ikoyi include:

Banana Island

Banana Island is a man-made island located in Ikoyi with sophisticated houses. It is considered one of the most prestigious neighborhoods in Nigeria and is home to some of the wealthiest individuals in the country.

Parkview Estate

Parkview Estate is also a high-end area with residential buildings located in Ikoyi. It is known for its well-maintained streets, lush greenery, and beautiful houses.

Osborne Foreshore Estate Phase I & II

Osborne Foreshore Estate is a gated community located in Ikoyi. It is home to many expatriates and wealthy Nigerians and is known for its beautiful waterfront views and well-maintained streets.

Gerrard Road

Gerrard Road is a beautiful location in Ikoyi known for its luxurious homes and serene environment. It is home to some of the wealthiest individuals in Nigeria.

Bourdillon Road

Bourdillon Road is a prestigious street in Ikoyi with amazing residential properties and also home to many high-profile individuals including politicians, business people, and celebrities. It is also known for its beautiful mansions and well-manicured lawns.

Awolowo Road

This area is dominated by top law firms and modern amenities such as shopping malls, supermarkets, and restaurants. In addition, there are also several luxury condominiums in the area that provide comfortable living at affordable prices.

Dolphin Estate

This is a residential estate located in the western part of Ikoyi. It is a uniquely-structured estate with good road networks, apartment buildings, and basic amenities like schools, hospitals, and supermarkets.

Onilegbale Road

Onilegbale Road in Ikoyi, Lagos is one of the most sought-after locations within the city, thanks to its close proximity to some of the city’s most desirable attractions. For those wanting to explore further afield, the iconic Lekki-Ikoyi Link Bridge provides an easy connection to Lagos Island. 

Shaw Road

This Area is home to some of Ikoyi’s most famous landmarks, including the magnificent Pyramid Art Centre. The Art Center is a popular destination for locals and tourists; you can explore various modern art galleries, diverse sculptures, and unique installations here.  The area is also known for its vibrant nightlife and selection of fine eateries. 

Alexander Road

This charming street dates back to the colonial period and is the perfect place to explore on foot. Here, you will find a variety of traditional houses for sale, blocks of flats, and other residential complexes. Nature lovers can take advantage of the picturesque surroundings by visiting some of the nearby parks and gardens.  Alexander Road is also home to several small shops, restaurants, and bars. 

Mojisola Onikoyi Estate

Mojisola Onikoyi Estate is a gated community in the heart of Ikoyi, Lagos. This exclusive residential complex offers upscale living with top-notch amenities such as underground parking and 24-hour security. Residents can access swimming pools, gyms, private gardens, and other communal spaces. The estate is also within walking distance of some of the city’s most popular attractions, making it an ideal place to call home. 

Frequently Asked Questions (FAQs)

Is Ikoyi a Good Place to Live?

Yes, Ikoyi is an excellent place to live. It is a safe and secure area with many apartments, buildings, businesses, leisure attractions, and great transport links. There are also many reviews online that are very positive. 

What Do I Need to Know Before Relocating to Lagos?

Before relocating to Lagos, it is important to consider the area’s development and infrastructure. Additionally, you should research the local amenities, such as places of interest, entertainment venues, and other services. You should also consider the guest experience when visiting or staying in any accommodation, including safety-wise.

Is Ikoyi the Same as Banana Island?

No, Ikoyi and Banana Island are not the same. Banana Island is an artificial island located in Lagos State, Nigeria. It is a luxury area with high-end residential buildings while Ikoyi is a more traditional suburban area of Lagos.

Does Business Tourism Contribute to the Economy of Lagos?

Yes, business tourism contributes significantly to the economy of Lagos and Nigeria. It is a major source of income and jobs, as it attracts foreign investment, creates jobs in related sectors such as hospitality, entertainment, and retail, and boosts local businesses. 

Which Suburb is the Richest in Nigeria?

Banana Island is an artificial island located in Lagos State, Nigeria. It is a luxury area with high-end apartment buildings for the nation’s riches and expatriate staff, while Ikoyi is a more traditional suburban area of Lagos.


Before relocating to Ikoyi, it is essential that you consider the cost of living, quality of life, and employment prospects.

Ikoyi has the potential to be a fantastic place to live and work and social amenities such as infrastructure, good road network, leisure spots, and social clubs are all present. So we wish you good luck on your possible move to  Ikoyi!

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