In Lagos, Nigeria, houses of different types and shapes have different prices and durations, but that largely depends on the environment and location. Keep in mind $1 = N 150. To explain how rents are collected and where best to look for what kind of apartment, let’s tithe houses and rents in lagos Nigeria on houses on the mainland and houses on the island.
Lagos Nigeria is typically divided into two segments, namely the island which is home to much of the middle class and upper classes and the mainland which is home to a small segment of the upper class, the middle class and most of the upper class. .
Houses in the mainland of Lagos Nigeria
Most of the houses on the mainland are occupied exclusively by the lower class and most of them are unskilled labor. They are mainly made up of the face-to-face type of houses in which the apartments are rooms that can be occupied by families sometimes consisting of up to 12 members. The lower middle class of the Lagos Nigerian society usually occupy houses with apartments such as self-contained apartments, two-bedroom apartments and three-bedroom apartments. The few middle-class people would opt for three-bedroom apartments, bungalows, or duplexes. On the mainland, rents range from 30,000 naira a year to over 3,000,000 naira (US$200-20,000).
On the mainland, houses and rents are most expensive in Ikeja and Surulere. Most of the middle class on the mainland lives in places like GRA, G Cappa Estate, Allen Avenue, Toyin Street, Opebi road for Ikeja and Alaka, Adeniran Ogunsanya, Eric Moore, among others, in Surulere. Generally speaking, self-contained apartments are as low as $2,000 a year. Other apartments, especially 3-bedroom ones, cost anywhere from $4,000 to over $10,000 a year. Other places on the mainland where apartments are a bit expensive are Apapa, Ilupeju, Magodo, parts of Yaba, Ajao Estate and Festac.
On the other hand, places where the poor and lower classes abound mainly offer one-bedroom apartments on different floors with a single bathroom, kitchen and bathroom for all the tenants on that floor. Rates range from $200 to $500 per year.
Houses on the island of Lagos
With the exception of Epe, Obalende, Idumota and other slums, the mainland of Lagos is the preserve of the upper and middle class. Many of the people in this class are expatriates who are in Lagos, Nigeria for business or pleasure. The options are very attractive but expensive. Luxury apartments can be found on Victoria Island, Ikoyi, Lekki Pennisular and Ajah with rates ranging from $4,000 to over $100,000 a year. Some expats prefer to stay in five-star hotels that also offer the same amount of luxury except that they are more expensive.
Places like Adeola Odeku, Akin Adesola, Admiralty Way and Victoria Garden City are places on Victoria Island and Ajah Extension that offer luxury apartments. Ikoyi also has a number of luxury apartments in places like Banana Island, Park View and Foreshore Estates. Niger Towers is also another well-known luxury apartment building with hundreds of apartments on offer. With a budget of $80,000, you could get a 2 or 3 bedroom luxury apartment if you are a high end consumer.