Recent data on rental yields in real estate submarkets of Lagos Island has shown that, contrary to assumptions, especially among investors, the highest-priced neighbourhoods are not the highest-return markets.
The data, compiled by Stears, a financial data and research provider, shows the Lekki corridor leading rental yields with Chevron axis of city recording 5.85 percent, while Ikoyi trails at 3.09 percent.
Other submarkets also give higher yields than Ikoyi which is clearly the most upscale and highest-priced neighbourhood in Lagos. They are Lekki Phase 1, 3.95 percent; Osapa London, 4.28 percent; Victoria Island: 4.59 percent; Oniru, 4.88 percent; Ikota Elegushi, 5.02 percent, and Chevron, 5.85 percent.
These findings challenge the assumption that prestige locations automatically translate into better investment returns. The findings also show that even though Ikoyi is Lagos most expensive address, it delivers the lowest rental yield.
Similarly, a recent Lagos Island Residential Market Report 2026 by Lagos
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