The demand for short-let apartments in Lagos is experiencing rapid growth, driven by changing lifestyle needs, urban migration, and the evolving travel and work culture. As Nigeria’s economic capital and Africa’s fastest-growing megacity, Lagos has become a hotbed for both local and international travelers seeking flexible, fully-furnished accommodation options.
If you’re a property investor or homeowner wondering whether to convert your unit into a short-let or invest in one, here’s why now is the best time—and what the future holds.
Why Short-Let Apartments Are Booming in Lagos
1. Flexible Living for Professionals & Expats
Many professionals, remote workers, and expatriates are opting for short-term rentals over traditional hotel stays. These properties offer home-like comfort, privacy, and cost-effectiveness, especially for extended stays.
2. Tourist and Business Travel Surge
With the rise of local tourism and frequent business travel, short-let apartments provide a convenient, accessible option. Areas like Ikoyi, Lekki, and Victoria Island are especially high in demand due to their security, infrastructure, and lifestyle offerings.
3. Higher Rental Yields
Compared to long-term rentals, short-let apartments often deliver significantly higher returns. Owners can charge premium rates per night, especially in peak travel seasons or festive periods.
4. Airbnb & Online Platforms Enable Growth
The popularity of Airbnb and similar platforms has made it easier than ever to market and manage short-let properties. With the right listing strategy and management, landlords can enjoy seamless income.
Trends Shaping the Future of Short-Let Apartments in Lagos
1. Increased Regulation & Standardization
As the short-let market grows, government bodies may introduce new policies to regulate pricing, taxes, and operations. This will likely benefit investors who maintain high standards and comply with local laws
2.Demand for Smart, Serviced Apartments
Tenants are seeking properties with high-speed internet, 24/7 security, concierge services, and smart technology. Properties like Pelican Cove 2 and Hamlet Apartments are being developed with these needs in mind.
3. Professional Property Management
More investors are outsourcing day-to-day operations to professional managers who handle bookings, maintenance, and guest services—ensuring better guest experiences and consistent reviews.
4.Expansion Beyond High-End Area
While Ikoyi and Lekki remain top markets, emerging locations in Lagos mainland and around Ajah and Ikate are seeing increasing interest due to more affordable investment entry points.
should You Invest in a Short-Let Apartment Now?
Absolutely. Whether you’re considering converting your current property into a short-let or buying into developments like Pelican Cove 2 or Hamlet Apartments, now is the time to position yourself.
With Lagos’ growing population, increasing demand for flexible housing, and rising rental yields, the future of short-let apartments is promising and highly profitable.
Partner with Dozek Group for Your Short-Let Investment.
