Cost of Serviced Apartments in Nigeria

Serviced apartments are becoming increasingly popular in Nigeria, offering a blend of home-like comfort and hotel-like convenience.

These fully furnished rental properties provide amenities such as housekeeping, security, and utilities, making them an ideal choice for business travellers, expatriates, and even locals looking for short- or long-term stays.

But how much do serviced apartments cost in Nigeria?

The price varies depending on factors like location, size, and amenities.

In this guide, we’ll break down the cost of serviced apartments in Nigeria’s major cities, compare them to hotels, and provide tips for getting the best deals.

Key Features of Serviced Apartments

Fully Furnished: Includes furniture, kitchen appliances, and home essentials.
Utilities Included: Electricity, water, and sometimes Wi-Fi are part of the rental fee.
Housekeeping Services: Regular cleaning, laundry, and maintenance.
Security: 24/7 security, CCTV surveillance, and gated compounds.
Flexible Lease Options: Available for daily, weekly, and monthly rentals.

Who Uses Serviced Apartments?

Business Travelers: Professionals on short-term assignments.
Expatriates: Foreign nationals working in Nigeria.
Remote Workers: Digital nomads needing a home-like workspace.
Families on Vacation: People looking for a spacious, cost-effective alternative to hotels.

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Factors That Affect the Cost of Serviced Apartments in Nigeria

Several factors influence the price of serviced apartments across Nigeria, making costs vary widely between cities and neighbourhoods.

1. Location

The city and neighbourhood significantly impact pricing. In cities like Lagos and Abuja, high-end areas such as Ikoyi and Maitama are more expensive than places like Yaba or Kubwa.

2. Apartment Size

Studio Apartments (Self-Contained): Cheapest option, ideal for solo travellers.
One-Bedroom Apartments: Slightly more expensive but suitable for couples or remote workers.
Two- and Three-Bedroom Apartments: Best for families or group travellers, with a higher price tag.
Luxury Penthouses & Villas: The most expensive, catering to high-net-worth individuals.

3. Amenities Offered

More amenities lead to higher costs. Features like a swimming pool, gym, 24/7 electricity with backup power, and concierge services increase the price.

4. Duration of Stay

Many serviced apartments offer discounts for long-term stays. For example, a daily rental might cost ₦80,000 per night, but a monthly stay could be negotiated down to ₦1.5 million instead of ₦2.4 million.

5. Seasonal Pricing

During festive seasons, public holidays, and major events, prices tend to rise due to increased demand.

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Cost Breakdown by Major Cities

1. Lagos

Lagos, being Nigeria’s commercial hub, has the highest concentration of serviced apartments. Prices vary depending on the neighborhood:

Ikoyi: ₦100,000 – ₦300,000 per night
Victoria Island: ₦80,000 – ₦250,000 per night
Lekki Phase 1: ₦50,000 – ₦150,000 per night
Ikeja (GRA): ₦40,000 – ₦120,000 per night
Yaba & Surulere: ₦30,000 – ₦80,000 per night

2. Abuja

Nigeria’s capital city, Abuja, has a high demand for serviced apartments, especially among expatriates and government officials.

Maitama: ₦100,000 – ₦300,000 per night
Asokoro: ₦80,000 – ₦250,000 per night
Wuse 2: ₦50,000 – ₦150,000 per night
Gwarinpa & Jabi: ₦30,000 – ₦100,000 per night

3. Port Harcourt

As a major oil city, Port Harcourt has a demand for high-end serviced apartments.

Old GRA & New GRA: ₦80,000 – ₦200,000 per night
Peter Odili Road: ₦50,000 – ₦150,000 per night
Other areas: ₦30,000 – ₦100,000 per night

4. Other Nigerian Cities

Kano: ₦30,000 – ₦80,000 per night
Enugu: ₦25,000 – ₦70,000 per night
Ibadan: ₦20,000 – ₦60,000 per night

Comparing Serviced Apartments to Hotels

Many travelers and professionals prefer serviced apartments over hotels for the following reasons:

1. Cost-Effectiveness

Hotels charge high rates per night, often without offering a kitchen. A serviced apartment can be cheaper in the long run, especially for extended stays.

2. Privacy & Space

Unlike hotels, serviced apartments provide full apartments with living rooms, kitchens, and sometimes laundry facilities.

3. Convenience & Comfort

With a serviced apartment, you can cook your meals, do laundry, and have a more homely experience.

Where to Find Affordable Serviced Apartments in Nigeria

Finding a serviced apartment is easier than ever with online platforms and real estate agents.

1. Online Platforms

Airbnb: Offers a variety of serviced apartments across Nigeria.
Booking.com: Lists apartments with verified guest reviews.
PropertyPro & Private Property: Real estate websites with serviced apartment listings.

2. Working with Real Estate Agents

Local agents can help find better deals, especially for long-term stays.

3. Direct Rental from Property Managers

Some property managers offer direct bookings, which can be cheaper than using third-party platforms.

Tips for Getting the Best Deals on Serviced Apartments

1. Book in Advance

Last-minute bookings usually cost more.

2. Negotiate for Long-Term Stays

Monthly stays often come with discounts.

3. Look for Discounts and Special Offers

Some property managers provide promotional rates during off-peak seasons.

4. Check for Hidden Charges

Always confirm additional fees such as VAT, service charges, or security deposits.

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Conclusion

Serviced apartments in Nigeria offer a comfortable and convenient alternative to hotels, with flexible pricing depending on location, size, and amenities. Whether you’re a business traveller, expatriate, or remote worker, you can find a serviced apartment that fits your budget.

Final Tips:

Choose your location wisely based on budget and accessibility.
Compare different listings on platforms like Airbnb and Booking.com.
Always negotiate when staying for an extended period.

With these insights, you can make an informed decision when booking your next serviced apartment in Nigeria.