Why property value in Lagos Island slumps as Banana Island remains most expensive destination

For its inadequate and decaying infrastructure coupled with increasing densification, property value in Lagos Island is on a downward slope, making the neighbourhood a low-yield investment destination. But, for its world class infrastructure and low density population, Banana Island remains the most expensive destination in Nigeria. This is the country’s most exclusive and most sought after location for investors and home buyers who can afford it. The man-made island whose name derives from its distinct shape, is in the league of San Diego’s La Jolla, New York City’s Tribeca, Tokyo’s Shibuya a…

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