Luxury property’s final frontier

IN THE LAGOS edition of Monopoly, a board game, the priciest neighbourhood up for grabs in Nigeria’s commercial capital is Banana Island. The sand-filled addition to Ikoyi, a rich part of town, has become home to some of Nigeria’s hottest property since its creation 20 years ago. To enter, non-residents need security codes that change every hour. There are curfews for domestic staff. Banana Island was supposed to have more reliable power than the rest of Lagos, too, though it has not quite worked out that way. No matter. These days one square metre of land goes for almost $2,000, approaching prices in Camps Bay, a fancy suburb of Cape Town in South Africa. Plots are selling fast.