How Much Does a 2-Bedroom Apartment Cost in Lekki Phase 1?

If you are planning to buy a two-bedroom apartment in Lekki Phase 1, one of the first questions to answer is how much you need to budget. The answer depends on the exact location, whether the apartment is ready or off-plan, its layout, whether it includes a boys’ quarters (BQ), the facilities and the payment terms.

There is no single price that applies to every two-bedroom apartment in Lekki Phase 1. Compare individual properties using verified current prices and specifications rather than relying on a general estimate.

What determines the price?

1. The exact location

Street, access, surrounding development and proximity to commercial and leisure areas can affect value. Confirm the property’s actual location rather than relying only on broad marketing descriptions. Properties described as “Lekki” may be in different neighbourhoods with different characteristics.

2. Ready or off-plan

A completed apartment can be inspected in its actual condition. With an off-plan property, buyers need to assess the developer, title and approvals, construction progress, contractual delivery date and payment protections. Neither option is automatically better; the right choice depends on your timeframe, budget and risk tolerance.

3. With BQ or without BQ

A BQ may be valuable if you need additional accommodation, but compare internal floor area, room dimensions, ventilation, privacy and layout—not just the number of spaces listed in an advert.

4. Building facilities and specifications

Pool, gym, lifts, parking, security, power and water infrastructure can influence price and ongoing costs. Confirm what is included and ask how facilities will be maintained and funded.

Is ₦250 million to ₦300 million enough?

A budget in this range can be a starting point for researching available properties, but it does not guarantee that a suitable apartment will be available at that price. The answer depends on current inventory, exact specifications, delivery status and the seller’s terms. Ask for a current written quotation before making comparisons.

Calculate your total acquisition budget, not only the headline price. Depending on the transaction, additional costs may include documentation, legal fees, agency commission, taxes and other applicable charges. If ₦300 million is your all-in ceiling, tell the seller before arranging inspections.

What payment terms should you check?

Ask for the required deposit, balance deadline, instalment options, any price difference for instalment payments, late-payment consequences, cancellation and refund terms, and whether mortgage financing is accepted for that specific transaction. Get the agreed structure in writing.

What should you verify before paying?

• Title: Have a qualified property lawyer independently investigate the title and seller’s authority.
• Approvals: Verify relevant planning and building approvals with the appropriate authorities.
• Specifications: Confirm floor area, layout, BQ, fittings, parking and facilities.
• Developer: For off-plan purchases, assess track record, construction progress and contractual delivery obligations.
• Total cost: Obtain a written breakdown of all applicable fees and charges.

Explore current apartments in Lekki Phase 1

Maison D’Eko provides information on residential apartment opportunities in Lekki Phase 1. Availability and pricing can change, so request the latest details before making a decision.