As Nigeria’s property market continues to expand beyond traditional urban centres, a new wave of coastal developments is reshaping investor interest and redefining residential trends.
With the real estate sector currently valued at over ₦20 trillion and contributing around 6.5% to the nation’s GDP, analysts say Nigerians are increasingly turning to land banking and lifestyle estates as tools for wealth preservation amid currency volatility and inflationary pressures.
One of the notable entrants driving this coastal shift is Tropicana Acres, a new residential project in the Ibeju Lekki corridor, reflecting growing demand for serene, nature-connected communities that promise both livability and investment value.
According to real estate analysts, property prices in emerging growth areas such as the Lagos–Ogun coastal axis have recorded steady year-on-year increases of between 20% and 25%, driven by new infrastructure projects and rising migration from congested city centers.
“We are seeing more Nigerians, especially young professionals and diaspora investors, seeking opportunities that combine lifestyle with long-term value,” said Ojerinde Damilare, Managing Director of Halleys Homes, the company behind Tropicana Acres. “Coastal developments are becoming the new frontier for those who understand that land is a generational wealth asset”
Experts also note that the growing appetite for suburban and coastal properties aligns with government plans to decongest Lagos and expand infrastructure connectivity towards the Ibeju–Lekki and Ogun waterside zones, where several new estates are springing up.
Beyond the investment appeal, these emerging estates are also introducing a new model of real estate transparency and affordability. Companies like Halleys Homes are offering verified documentation, guided inspections and flexible payment structures designed to make property ownership less daunting for first-time buyers.
As Nigeria marks 65 years of independence, the ongoing evolution of its real estate landscape underscores a quiet but significant shift, from speculative buying to structured, long-term investment. Coastal communities such as Tropicana Acres may well represent the next phase of urban migration, lifestyle evolution, and wealth creation in the nation’s housing narrative.
