I recently have a discussion with someone very close to me and in the process, he briefed me about his plan to buy a house in Lekki. According to him, he had been approached by one of the property companies (name withheld) and the price is put at four hundred million naira (400 million). That strikes me as way too high. I know that Lekki is a posh area in Lagos populated by the rich, but cases of flooding and other issue make me doubt if the price is worth it's value. Besides, the house is said to be newly constructed, meaning it's located in one of new area.

I need idea of what a house could cost at Lekki. Which part of the estate is most expensive and what's the average cost of buying a new house. A honest and experience answer only.

Is 400 million naira price tag not too high for newly constructed house in Lekki?