Average Cost of Short-let Apartments in Lagos and Abuja

Short-let apartments have become a popular choice for business travellers, expatriates, tourists, and even locals looking for temporary accommodation in Nigeria.

Whether it’s for a weekend getaway, a business trip, or a temporary stay before moving into a permanent home, short-let apartments provide flexibility, comfort, and affordability compared to traditional hotel stays.

Lagos and Abuja, being Nigeria’s two most important cities, have a booming short-let market with varying price points depending on the location, amenities, and type of apartment.

This blog post explores the average cost of short-let apartments in Lagos and Abuja, factors affecting pricing, and how to find the best deals.

Factors Influencing Short-Let Apartment Prices

Several factors determine the cost of short-let apartments in both Lagos and Abuja. Understanding these elements can help you find the best option that suits your budget and needs.

1. Location

One of the most significant price determinants is location. Areas with high demand and premium real estate naturally have higher short-let prices. For instance, in Lagos, locations like Ikoyi and Victoria Island command higher prices than places like Surulere or Yaba. Similarly, in Abuja, Maitama and Asokoro are more expensive than Gwarinpa or Kubwa.

2. Apartment Type

The type and size of an apartment affect its cost. Common options include:

Studio Apartments – Compact and ideal for solo travelers
One-Bedroom Apartments – Suitable for couples or business travelers
Two & Three-Bedroom Apartments – Preferred by families or groups
Luxury Penthouses & Villas – Premium accommodations with exclusive features

3. Amenities & Features

Short-let apartments with modern furnishings, 24/7 electricity, air conditioning, security, Wi-Fi, smart TVs, swimming pools, gyms, and housekeeping services tend to be more expensive. High-end luxury apartments in prime areas come with premium facilities, increasing their rental prices.

4. Duration of Stay

The length of stay also affects pricing. Many landlords and property managers offer discounts for extended stays. For instance:

Daily rates – Generally higher
Weekly rates – Slightly discounted
Monthly rates – More cost-effective for long-term guests

5. Peak vs. Off-Peak Seasons

The demand for short-let apartments fluctuates throughout the year. Prices may increase during festive seasons (Christmas, New Year), high tourist periods, and major events such as conferences or international summits. Booking during the off-peak season can help secure better deals.

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Average Cost of Short-Let Apartments in Lagos

Lagos, being Nigeria’s economic hub, has a dynamic short-let market with a wide range of options. Here’s an estimate of average costs in different parts of the city:

1. Victoria Island & Ikoyi (High-End Locations)

These areas are known for their luxury apartments, exclusive residences, and premium real estate. They cater to expatriates, business executives, and high-net-worth individuals.

Studio Apartment: ₦80,000 – ₦150,000 per night
One-Bedroom Apartment: ₦100,000 – ₦200,000 per night
Two/Three-Bedroom Apartment: ₦150,000 – ₦300,000 per night
Luxury Villas & Penthouses: ₦300,000+ per night

2. Lekki & Ajah (Mid-Range to Luxury)

Lekki Phase 1 is a trendy area with modern apartments, while Ajah offers more affordable options.

Studio Apartment: ₦40,000 – ₦80,000 per night
One-Bedroom Apartment: ₦60,000 – ₦120,000 per night
Two/Three-Bedroom Apartment: ₦80,000 – ₦150,000 per night

3. Mainland Areas (Ikeja, Yaba, Surulere) – Budget-Friendly

These areas cater to middle-income earners and budget travelers.

Studio Apartment: ₦25,000 – ₦50,000 per night
One-Bedroom Apartment: ₦35,000 – ₦80,000 per night
Two/Three-Bedroom Apartment: ₦50,000 – ₦100,000 per night

Average Cost of Short-Let Apartments in Abuja

Abuja, Nigeria’s capital city, has a well-structured short-let market with a mix of luxury, mid-range, and budget-friendly apartments. Below is an estimate of costs in key districts:

1. Maitama & Asokoro (Premium Locations)

These neighborhoods house government officials, diplomats, and affluent individuals. Short-let apartments here come with top-tier amenities.

Studio Apartment: ₦70,000 – ₦120,000 per night
One-Bedroom Apartment: ₦100,000 – ₦180,000 per night
Two/Three-Bedroom Apartment: ₦150,000 – ₦250,000 per night

2. Wuse & Garki (Mid-Range Pricing)

These are business hubs with a mix of high-end and affordable apartments.

Studio Apartment: ₦40,000 – ₦80,000 per night
One-Bedroom Apartment: ₦60,000 – ₦120,000 per night
Two/Three-Bedroom Apartment: ₦80,000 – ₦150,000 per night

3. Gwarinpa, Kubwa & Lugbe (Budget-Friendly Options)

These areas are ideal for those seeking affordability without compromising too much on comfort.

Studio Apartment: ₦20,000 – ₦50,000 per night
One-Bedroom Apartment: ₦30,000 – ₦70,000 per night
Two/Three-Bedroom Apartment: ₦50,000 – ₦80,000 per night

Comparing Lagos and Abuja: Which Offers Better Value?

Cost Differences

Abuja tends to have slightly lower short-let costs compared to Lagos, especially in mid-range and budget categories.
High-end apartments in both cities are similarly priced, but Lagos has a wider variety of luxury apartments due to its commercial appeal.

Demand Trends

Lagos has a higher demand for short-let apartments due to its business environment and entertainment industry.
Abuja’s demand is more government and business-driven, with a more stable market.

Pros and Cons

Factor	Lagos	Abuja
Cost	Higher on average	More affordable
Variety	More options	Fewer options
Demand	High year-round	Seasonal fluctuations
Traffic	Heavy congestion	Less traffic

How to Find the Best Short-Let Deals

Use Trusted Rental Platforms
- Airbnb, Jiji, PropertyPro, ShortletNigeria, private real estate listings.
Book in Advance
- Prices tend to rise closer to check-in dates.
Consider Long-Term Discounts
- Many landlords offer lower rates for weekly or monthly stays.
Read Reviews
- Ensure the apartment meets your expectations before booking.
Negotiate Directly with Property Managers
- Some hosts offer better rates for direct bookings.

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Conclusion

Short-let apartments in Lagos and Abuja offer diverse options for different budgets. While Lagos is more expensive overall, Abuja provides slightly better value, especially for mid-range and budget travellers.

Factors like location, amenities, and stay duration significantly impact pricing.

When booking a short-let, consider platforms like Airbnb, Jiji, and direct real estate listings to find the best deals. Always compare options and read reviews to ensure a smooth stay.

Looking for a short-term apartment? Start your search today and find the perfect fit for your needs.