Living in Lagos, like most things, comes with benefits and disadvantages. A lot of people find living in an estate more convenient than a single home, an apartment building, or a condo.
Luckily, Lagos state has several beautiful estates to suit every need. There are several benefits to living in an estate. For one, it is a controlled environment. Everything is regulated and maintained by the estate so homeowners don’t need to worry about maintenance.
But the comfort of living in an estate usually comes at a cost which is most times quite expensive than getting a regular house. There are several estates but choosing the right one for you might be tedious. In this article, we will be taking a look at one of the popular estates in Lagos, Parkview estate.
- Overview Of Parkview Estate
- Location And Accessibility Of Parkview Estate
- Features And Amenities Of Parkview Estate
- Real Estate Market In Parkview Estate
- Lifestyle and Community in Parkview Estate
- Education In Parkview Estate
- Cost Of Living In Parkview Estate
- Pros and Cons of Living in Parkview Estate
- Frequently Asked Questions
- Conclusion
- Related Posts
Overview Of Parkview Estate
Parkview Estate is an upscale residential estate located in Ikoyi, Lagos state, Nigeria. The estate is known for its serene environment, beautiful scenery, and high-end real estate properties.
The estate is bordered by the Lagos Lagoon on the south and east, Banana Island on the west, and the upmarket Osborne Foreshore Estate on the north. This strategic location has made Parkview Estate one of the most sought-after residential areas in Lagos.
Parkview estate is an exclusive gated community with strong security protocols. The estate is divided into zones, each with its own security checkpoint and access control. This ensures the safety of all residents and their assets.
Park view estate is one of the best and most expensive estates to live in Lagos state, and as such its occupants include members of the high-class society such as business moguls, celebrities, and expatriates, among others. The cost of living is quite high so the estate is not easily accessible for an average Nigerian citizen.
The houses in this estate are constructed by private developers and are individually owned. There are different types of real estate properties in the estate, ranging from luxury apartments and duplexes to high-end villas and mansions.
Most of the properties in the estate feature modern architectural designs, beautiful landscaping, and state-of-the-art facilities.
In terms of amenities and facilities, Parkview Estate has a well-maintained road network, recreational parks, sports facilities, shopping centers, and top-rated schools. The estate is also home to some of the finest restaurants, bars, and entertainment centers in Lagos.
Location And Accessibility Of Parkview Estate
Parkview estate is located in a strategic area that makes it easily accessible and attractive to anyone looking to buy a house in an upscale neighborhood.
The estate, as earlier stated, is located in Ikoyi which is a high-end residential neighborhood known for luxury homes, hotels, restaurants, and malls. It is a prime location near the Lagos lagoon and a few minutes away from Banana island.
One of the key advantages of Parkview Estate is its central location. It is located just a few minutes’ drive from the Victoria Island business district, making it an attractive location for professionals and business people who work in the area.
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Its location also makes it easily accessible from other parts of Lagos via the Third Mainland Bridge. This bridge serves as one of the main transport links between Lagos Island and the mainland. This makes it easy to get to and from the estate, even during peak traffic periods.
Parkview estate is also close to several basic facilities and amenities that residents of the estate will need. For example, it is close to several international schools, hospitals, gyms, shopping centers, and recreational facilities.
Features And Amenities Of Parkview Estate
Parkview Estate offers a range of facilities and amenities that make it an attractive estate to anyone looking for high-end residential development.
Some of the key features and amenities include:
1. Security
Parkview Estate is a gated estate with a highly effective security system in place. The estate has 24/7 surveillance, armed guards, and access control systems. This ensures the safety and peace of mind of residents.
There is security personnel at the estate’s gated entry and exit. Non-residents are not permitted on the estate until they have received permission from their hosts, although due to the abundance of companies, hotels, and educational facilities, security is lax during business hours.
2. Infrastructure
The estate has well-maintained infrastructure, including good roads, drainage systems, and public utilities like water and electricity.
When it rains, there are several areas of the estate that are known to flood and may take several hours to dry out. However, the drainage systems are in good condition and flooding does not occur unless there is heavy rainfall.
The estate does not generate electricity for the residents, they rely solely on electricity supplied by PHCN. Residents use solar panels, inverters, and portable generators as alternative sources of power.
Waste Management in the estate is handled by the Lagos state government. Waste bins from the Lagos State Ministry of Environment are strategically placed all around the estate.
3. Parks and green spaces
Parkview Estate is known for its beautiful parks and green spaces, which provide a serene and peaceful environment for residents to relax and enjoy the outdoors. The neighborhood is tidy and green, with flowers planted in front of homes and along the road.
4. Recreational facilities
The estate has a range of recreational facilities, including a swimming pool, tennis courts, and a gym. These facilities offer residents opportunities to stay active and healthy without leaving the estate.
There are also recreational facilities in close proximity to the estate including Ikoyi Golf club and Lagos Polo Club.
5. Shopping and dining
Parkview Estate is close to a number of shopping centers and restaurants, offering residents a range of options for shopping and dining without having to travel far.
Some of these facilities include the Astoria grocery store in Park View estate, Ikoyi Mall, Falomo Mall, Walgreens, and Okoli Supermarket.
Ikoyi also has a number of regional commercial ventures like the Ijeh local foodstuff market. This gives residents of Parkview estate easy access to local foodstuff.
6. Community events
Parkview estate community association often organizes events and activities to foster a strong sense of community among the residents. Such events may be cultural festivals, sports tournaments, and charity events.
7. Public Amenities
Parkview estate has all the basic amenities their residents might need either inside the estate or in close proximity to it. There are several health facilities, schools, banks, and hotels, among others.
Real Estate Market In Parkview Estate
The real estate market in Parkview estate is relatively stable and has a lot of potential. It is one of the most desirable markets in Lagos, making it an attractive option for buyers and investors seeking upscale properties in a prime location.
The real estate market in Parkview Estate has been comparatively stable and reliable, with property values often maintaining a steady cost or rising over time.
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This is partly due to the estate’s prime location, as well as its reputation as a secure neighborhood and a desirable place to live.
The properties in Parkview Estate include upscale flats, townhomes, penthouses, and detached homes. The prices of properties in this estate are subject to change and can vary significantly depending on factors such as size, location, and condition.
Generally, the properties in Parkview Estate tend to be more expensive than in other areas in Lagos due to its prime location and exclusivity.
In terms of demand, there is typically a steady stream of buyers and renters looking for properties in Parkview Estate, although the market can be impacted by economic conditions and other external variables.
Lifestyle and Community in Parkview Estate
The lifestyle of the residents in Parkview estate is luxurious and sophisticated. Homeowners enjoy a variety of amenities and services that are tailored to their needs.
There are many parks, sports venues, and recreation facilities located on the estate, offering a variety of options for leisurely outdoor pursuits.
There are also numerous restaurants, cafes, and shopping centers located within the estate and nearby, making it easy for residents to access essential services and amenities.
The people living at Parkview Estate are pleasant and close-knit, many of them participate in social events and other activities that provide a sense of belonging.
The estate is home to a number of organizations and groups, including the Parkview Estate Residents Association (PERA), which plans community events, fundraising efforts, and other social gatherings all year long.
Parkview Estate places a high focus on security, and the neighborhood is renowned for its strict security measures, which include gated entrances, round-the-clock surveillance, and armed guards. This gives people comfort and guarantees that the estate will always be a secure place to live.
Education In Parkview Estate
Many educational institutions and schools in and surrounding Parkview Estate provide access to high-quality education. The local schools serve pupils of various ages and provide a wide range of curricula.
Some of the notable schools in the area include:
- Greenwood House School: A co-educational school with a British National Curriculum and a reputation for academic distinction.
- Lekki British School: This is a British international school that provides pupils from the Early Years Foundation Stage (EYFS) to A-levels with a diverse and balanced curriculum.
- Home Science Association Secondary School: This is a government-owned school that provides junior and senior secondary education.
- Lagos Preparatory School: An international institution that educates students from 18 months to 11 years old using the British curriculum.
- Corona School: A private institution that educates students from the age of six months to sixteen using the Nigerian curriculum.
- St. Saviour’s School: This is a girls’ school with a British curriculum that accepts students ages 2 to 16.
Cost Of Living In Parkview Estate
The cost of living in Parkview estate is relatively high in comparison to other estates in Lagos, it is affected by additional costs for utilities, internet, entertainment, and other facilities provided by the estate.
Rents in Parkview Estate range from about 2 million Naira to 10 million Naira annually, depending on the size and quality of the property. There are several properties that may be purchased for amounts between 60 million and 500 million naira.
Parkview Estate is run by the Park View Residents Association, which is a registered organization with the Corporate Affairs Commission (CAC). Residents and companies in the estate pay annual dues to the association.
Residents of duplexes, mansions, bungalows, and detached homes pay about 172,000 in resident dues, while those of flats pay about 111,000. Churches, schools, and landowners are all expected to pay yearly dues. The dues may vary depending on the type of property, the size, and the location.
Food prices in Parkview Estate might also be pricey, particularly if you frequently eat out or buy your groceries at upscale supermarkets. Local markets and smaller supermarkets, on the other hand, provide more affordable alternatives.
Depending on your choice of transportation in Parkview Estate, transportation costs can vary. Most residents of the estate own private vehicles so the cost of transportation is not a lot. Taxis and ride-sharing services like Uber and Bolt are also available in the estate, although they can be pricey.
Public Transportation is another mode of transportation in and out of the estate. There are buses and ferries in and around the estate, however, they might not be as convenient.
Pros and Cons of Living in Parkview Estate
Like most things, Parkview estate has both advantages and disadvantages. If you are planning to buy a property in this estate, it is essential to weigh both the pros and cons before making a decision.
Pros
- High Quality of Living: Parkview Estate is an exclusive estate in an affluent neighborhood and as such it has become a popular destination for people looking to live luxuriously. The neighborhood is upscale, with impressive buildings, immaculate roads, and lush surroundings.
- Security: Strict security measures are in place to protect the estate’s residents, including a security system that is gated and heavily guarded. Access to the estate is also very strict to avoid unwanted guests.
- Access to amenities: Parkview Estate provides access to a number of amenities, including recreational parks, commercial malls, dining establishments, and clubs.
- Educational and health facilities: The estate has access to top-notch educational and healthcare facilities in the neighborhood.
- High Property Value: The estate is an excellent investment for people who are interested in real estate because of its high property value. The estate’s location has increased its worth throughout the years and it doesn’t look like the value will depreciate any time soon.
Cons
- High Cost of Living: Because of its affluent lifestyle, pricey homes, and proximity to facilities, Parkview Estate has a high cost of living. The cost of living in this estate is not affordable for an average Nigerian and so only members of the high-class society can afford to live there.
- Restricted Affordable Housing: Finding inexpensive housing in the estate can be difficult due to the high property value. The prices for most of the properties in Parkview estate start in the millions and is not affordable.
- Traffic: Parkview Estate is situated in a busy part of Lagos, therefore during rush hour there may be a lot of traffic.
- Restricted Public Transportation: Because most residents of the estate use private vehicles, there are only a few choices for public transit, which can make getting to work difficult for people without personal vehicles.
- Restricted Diversity: The estate’s population is quite homogeneous, which may not be ideal for those who enjoy diverse neighborhoods.
Frequently Asked Questions
Who Can Be Residents Of Parkview Estate?
Anybody that can afford to buy a house in Parkview estate can be a resident. There are no rules or restrictions about who is allowed to buy property in the estate.
Who Owns The Most Expensive House In Parkview Estate?
The most expensive house is owned by the founder of Gibraltar Construction Nigeria Limited, Chief Olu Okeowo. He is one of the wealthiest individuals in Lagos, and he lives in the most lavish and spacious mansion in Parkview, Ikoyi.
Is Parkview Estate Bigger Than Banana Island
The answer is no! Parkview estate is not bigger than Banana Island.
Who Are The Major Inhabitants Of Parkview Estate
Parkview estate has a diverse mix of inhabitants. Both the whites and blacks are there. As long is you can afford the luxury, you can buy a house in the estate.
Conclusion
In conclusion, Parkview Estate is a high-end residential estate in the Ikoyi area of Lagos that offers a luxurious lifestyle with access to several amenities, quality education, and security.
The estate has a high property value, making it a desirable investment for those interested in real estate. However, the high cost of living and limited affordable housing make it inaccessible to some people.
Overall, Parkview Estate is a desirable location for those who can afford its luxurious lifestyle and prioritize security and access to amenities.
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