Waterfront homes in Lagos are under increasing pressure as extensive reclamation along the coastline threatens the views that give them their value.
In the city’s luxury market, properties with unobstructed views of the lagoon or ocean command higher prices because they offer lifestyle appeal, exclusivity, and scenic beauty.
However, many reclamation projects, some carried out without proper approvals according to the Lagos State Government, are altering the shoreline.
According to realtors, new developments are appearing between existing waterfront homes and the water they once overlooked, reducing their appeal and making them harder to sell, with values potentially falling below those of properties with direct water access and views.
The value of waterfront vistas
Waterfront living in Lagos has long been synonymous with luxury. Properties along the lagoon, beaches, or coastal areas not only offer space but also scenic beauty, exclusivity, and a lifestyle that appeals to high-net-worth individuals.
“The closer you are to the water, the more expensive it is,” a Lagos-based realtor told Nairametrics.
He added that a home’s value is often tied as much to its views as to its structure. Buyers are willing to pay significant premiums for unobstructed vistas and direct access to waterways, making waterfront properties some of the most sought-after in the city.
Yet the allure of these homes comes with a caveat. New reclamation projects and unregulated developments have the potential to obstruct views, reducing both the aesthetic and financial value of existing properties.
For owners, this can mean a property that once commanded premium prices may become less attractive as newer developments emerge closer to the water.
Buyer perspectives: Weighing allure against uncertainty
For many buyers, waterfront homes are not just an investment—they are a personal retreat. A seasoned professional in the oil and gas sector, who requested anonymity, shared that he had long dreamed of owning a beachside home in Lagos.
“I always wanted a place where I could feel at peace whenever I returned. I wanted a sanctuary where I could enjoy the calm and beauty of the sea while staying close to my family,” he told Nairametrics.
He explained that even with the means to acquire prime real estate, he exercised caution because the city’s shoreline is constantly changing.
“Two of my friends who bought waterfront properties have had their views blocked or changed by new developments,” he said.
Concerned about the longevity of his own view, he ultimately chose a property without a waterfront vista, prioritizing certainty over prestige.
This experience illustrates a broader reality in Lagos: the value of waterside living is closely tied to the view, which can be unpredictable.
As reclamation and unregulated developments reshape the coastline, homeowners must consider both lifestyle appeal and long-term property value before investing in waterfront real estate.
Expert insight: Balancing development and waterfront value
Olabisi Odusanya, a real estate analyst, explained that Lagos’ land scarcity makes reclamation attractive, but the approach has often prioritized developers over residents.
“Lagos is a small state, so any effort to create more land or increase housing units is welcome.
“But what has been done so far is indiscriminate, with developments that are below standard and poor infrastructure to support them, which creates more problems for the state,” she told Nairametrics.
Drawing comparisons with coastal cities abroad, she highlighted how cities like New York, Baltimore, and Malibu integrate development with waterfront access.
“Along the Hudson River, at Harbour Point in Baltimore, and in Malibu, California, apartments, homes, and businesses are built to embrace the waterfront,” she said.
Similar approaches exist in Fidjrosse, Cotonou, where planning prioritizes both accessibility and aesthetics.
Odusanya emphasized sustainable planning for Lagos:
“Building upward rather than outward, incorporating greenery, proper drainage, and ensuring public access to water can create waterfront developments that retain both value and community appeal,” she said.
Her insights suggest that with proper design and regulation, Lagos can develop its coastline in ways that maintain scenic views, property value, and public enjoyment, rather than prioritizing short-term gains for developers alone.
Government steps in to regulate reclamation
Meanwhile, the Lagos State Government has taken steps to manage the city’s expanding landmass and safeguard waterfronts. The state’s area has grown from 3,577 to 4,050 square kilometres, largely due to extensive reclamation of wetlands and lagoon areas.
Tokunbo Wahab, Commissioner for Environment and Water Resources, explained the significance of this expansion in a September press release issued by the ministry.
“This growth highlights the scale of human-driven changes to Lagos’ geography, with implications for flooding, drainage, and climate resilience,” he stated.
In response, the government ordered the suspension of all reclamation projects, citing environmental and social risks. The suspension applies to both ongoing and planned activities, regardless of prior Environmental Impact Assessment approvals.
Wahab also noted that indiscriminate reclamation in areas such as Ikoyi, Victoria Island, Lekki, Ajah, Ikorodu, Ojo, and Badagry has become widespread without proper oversight.
“All approved projects must now undergo proper documentation and monitoring. Ongoing or planned activities require Environmental Impact Assessment approval and drainage clearance before proceeding,” he said.
These measures aim to balance development with environmental protection, ensuring reclamation projects follow proper oversight and environmental standards.
Outlook
Some reclamation projects in Lagos have been criticized for being below standard, but well-planned developments show potential for sustainable waterfront living. Eko Atlantic City, for example, features proper drainage, road networks, and accessible waterfront areas.
Civil engineer Babatunji Adegoke emphasized the need for Environmental Impact Assessments, risk mitigation, and strict regulations before starting reclamation.
“Reclaimed land often requires stabilization or more expensive foundations, such as piling, to ensure safe construction,” he said.
Experts note that Lagos can learn from coastal cities like New York, Baltimore, and Malibu, where developments integrate infrastructure, aesthetics, and public access. With proper planning and oversight, waterfront living can remain both safe and sustainable.
