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The Most Expensive House In Nigeria - Properties - Nairaland

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The Most Expensive House In Nigeria by lolypop: 11:03am On Jul 17, 2007
i was discussing with my friend on a particular issue , eventually he asked whether i know the most expensive house in Nigeria.I mentioned OTUNBA SUBOMI BALOGUN'S HOUSE @ ijebu Ode that, the house was built in 2-3years ago with N400M to mark his 70th birthday.
Surprisingly, my friend said RASAQ OKOYA(ELEGANZA)built his house located along chevron drive with N3b. This is very incredible nevertheless i disagreed with him.
Re: The Most Expensive House In Nigeria by felele(m): 2:09pm On Sep 09, 2007
I'd pay more for Subomi Balogun's place though. Okoya's place is overbuilt.
Re: The Most Expensive House In Nigeria by sunjongs(m): 4:29pm On Sep 10, 2007
IS THAT SO!
Re: The Most Expensive House In Nigeria by thirdeye(m): 12:50am On Sep 12, 2007
Your friend did not tell you about the house just besides Subomi Balogun's house?
KUKU'S house. It has a dome infact we have King Fahd's building replica right in Ijebu ode .It has a beautiful dome .
It is sure far costlier.
The message --whatever standard you set somebody close is on his way to beat you, so look back before engaging in what may not profit your next door neighbour. Those buildings are best monumental pieces grossly underutilized, Around them are best described shanties some call shelter.
Billions that could have helped mankind.

I still go for Okoya, he is into business, so he is solving a problem by renting the buildings out.

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Re: The Most Expensive House In Nigeria by tosinaded(m): 6:14pm On Sep 28, 2009
mai deribe's house in maiduguri cost over 100million dollars!!!!!!!!
interior made with pure gold
Re: The Most Expensive House In Nigeria by pro01: 11:46pm On Mar 21, 2010
There are so many houses that are more expensive than Subomi Balogun's. And I don't think it's appropriate to consider Okoya's Ajah development; it is a vast estate mainly with terrace apartments for rent, not exactly a private residence. Mai Deribe's Maiduguri palace ranks in the top ten. So also Femi Otedola's spectacular Ikoyi home which cost about N1.3 billion. But Mike Adenuga's almost completed castle in Banana Island takes the cake. I hear its a N4billion project.
Re: The Most Expensive House In Nigeria by KunleA2(m): 7:58am On Mar 22, 2010
lolypop:

i was discussing with my friend on a particular issue , eventually he asked whether i know the most expensive house in Nigeria.I mentioned OTUNBA SUBOMI BALOGUN'S HOUSE @ ijebu Ode that, the house was built in 2-3years ago with N400M to mark his 70th birthday.
         Surprisingly, my friend said RASAQ OKOYA(ELEGANZA)built his house located along chevron drive with N3b. This is very incredible nevertheless i disagreed with him. 

Otunba Subomi built that house almost 20yrs ago. Check your facts. I moved to California in 1992 and our house is about 5mins drive from Otunba's house (off Molipa Express).

I will like to think that i know what i am talking about. I witnessed that house being built before i left Nigeria. It may have been renovated for his birthday but DEFINITELY not just built.

What kinda baffles me and infuriates me the most is how Nigerian get off and get whipped up on this numbers game. Who does the evaluation when these houses are built? Most Rich people are not short on Ego, so if they spend $1,000 on an item and they call it $10,000 who's really counting?  undecided

I have seen dumb and wack houses going for insane amt of money. That does not mean its worth that much. When some shitty house is costing more that the most expensive area in California or New York, you kinda wonder.

Most of these areas are flood prone, No constant electricity, security is so-so and yet some people still buy these houses just to say i live in so and so area. It does not mean its worth it.

Lets assume that i offer to sell a 2000 Honda Accord (Babyboy) for N3m and someone was silly enough to pay for it, does that make the car all of a sudden worth N3m? Probably not!

There are far better property with income potential here in the US than those dump houses being sold over there. Don't get caught up.

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Re: The Most Expensive House In Nigeria by pro01: 4:11pm On Mar 22, 2010
@ Kunle. I think Otunba Balogun pulled down the old house and built a sparkling new one a few years ago to mark his 70th. Lolipop isnt far from the facts about that.

But I agree with you a million percent that Nigerian real estate is preposterously overpriced; i'd blame this anomaly primarily on the prevalence of illicit wealth. Only about 1% of Nigeria's moneyed class made every kobo of their wealth legally in the truest sense of the world.

Maybe you've heard of some shitty status-symbol dump called Banana Island in the new axis of Ikoyi. I gathered that a plot of land goes for up to N300M. Thats about $2M! Pray, wouldnt that get me a plot of land in a decent part of Malibu, or Berveley Hills? Can you compare the st.upid Banana Island to these heavens on earth? Even worse, I hear you cant get a property/strip of land in some parts of Old Ikoyi or Asokoro in Abuja for less than N800M! Thats over $5M! And the roads are prolly battered, security lax, and all that. Something is very very wrong somewhere, and it gets demoralizing at times.
Re: The Most Expensive House In Nigeria by oderemo(m): 4:47pm On Mar 22, 2010
Kunle. I think Otunba Balogun pulled down the old house and built a sparkling new one a few years ago to mark his 70th. Lolipop isnt far from the facts about that.

But I agree with you a million percent that Nigerian real estate is preposterously overpriced; i'd blame this anomaly primarily on the prevalence of illicit wealth. Only about 1% of Nigeria's moneyed class made every kobo of their wealth legally in the truest sense of the world.

Maybe you've heard of some shitty status-symbol dump called Banana Island in the new axis of Ikoyi. I gathered that a plot of land goes for up to N300M. Thats about $2M! Pray, wouldnt that get me a plot of land in a decent part of Malibu, or Berveley Hills? Can you compare the st.upid Banana Island to these heavens on earth? Even worse, I hear you cant get a property/strip of land in some parts of Old Ikoyi or Asokoro in Abuja for less than N800M! Thats over $5M! And the roads are prolly battered, security lax, and all that. Something is very very wrong somewhere, and it gets demoralizing at times.

TRUE TALK.same reason i have been saying this 4 long time .the next economic volcano is the property CRASH in nigeria. watch this space. shocked shocked shocked cool cool
Re: The Most Expensive House In Nigeria by KunleA2(m): 5:04pm On Mar 22, 2010
ode remo:


Kunle. I think Otunba Balogun pulled down the old house and built a sparkling new one a few years ago to mark his 70th. Lolipop isnt far from the facts about that.



I was still in Naija in Dec'07/Jan '08 and the "old house" is still standing. I will check my facts again or see for myself sometimes when i go home again.

Thanks
Re: The Most Expensive House In Nigeria by Flow70: 4:32pm On Aug 11, 2010
@Kunle

I was in Nigeria 5 month ago and still saw the house. I live just 10 mins from Otunba's house, they just repainted it. Its nice to see a brother in here. Hope you good
Re: The Most Expensive House In Nigeria by KunleA2(m): 5:49pm On Aug 11, 2010
Flow70:

@Kunle

I was in Nigeria 5 month ago and still saw the house. I live just 10 mins from Otunba's house, they just repainted it. Its nice to see a brother in here. Hope you good


Im good. I live 2 junctions after Yisade Hotel going towards ibadan garage. We moved into our house in 1987. So im pretty familiar with the area. Last time i was home was Dec. 07/Jan.08. Will be there again this year God willing. So i will check my facts myself.

How are you? Good to hear from you.

Regards.
Re: The Most Expensive House In Nigeria by Flow70: 7:38pm On Aug 11, 2010
Kunle-A:


Im good. I live 2 junctions after Yisade Hotel going towards ibadan garage. We moved into our house in 1987. So im pretty familiar with the area. Last time i was home was Dec. 07/Jan.08. Will be there again this year God willing. So i will check my facts myself.

How are you? Good to hear from you.

Regards.

I'm alrite my brother. I hope you still remember the round about, one leads to ibadan garage (Molipa express), one to Erinlu. My house is the first at Erinlu junction,  If you dont mind, you can put your email here for me, will get intouch.

Hope our Ijebu never leave your mouth oo!  smiley
Re: The Most Expensive House In Nigeria by KunleA2(m): 8:08pm On Aug 11, 2010
Flow70:

I'm alrite my brother. I hope you still remember the round about, one leads to ibadan garage (Molipa express), one to Erinlu. My house is the first at Erinlu junction,  If you dont mind, you can put your email here for me, will get intouch.

Hope our Ijebu never leave your mouth oo!  smiley

promise72[at]yahoo.com
Re: The Most Expensive House In Nigeria by balfour201: 1:04pm On May 28, 2011
Antilla in mumbai, a  building being constructed worth of $1billion is claimed as world's most expensive home, 

Source: http://www.bornrich.com/entry/top-10-most-expensive-homes-from-around-the-world
Re: The Most Expensive House In Nigeria by tlops(m): 10:54am On Jan 17, 2012
my house built with 50,000 naira in 1960,

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