The Lagos shortlet market has grown from a fragmented, informal segment into an integral part of the city’s housing and hospitality landscape.
Rising demand from business travelers, tourists, and returning diaspora members has transformed short-term rentals into a structured and competitive market. Seasonal peaks, particularly during the festive “Detty December” period, push occupancy close to 100% in prime neighborhoods, reflecting the high turnover and short-stay nature of the market.
Lagos now attracts both corporate and leisure visitors, drawn by economic opportunities, events, and lifestyle offerings. Certain neighborhoods consistently command higher rates due to location, amenities, and accessibility, making them the most sought-after for 2-bedroom shortlets.
This ranking, based on The Edala Development Lagos Shortlet Market Report 2025, highlights areas in Lagos where 2-bedroom shortlet apartments recorded the highest average daily rates over the full 2025 calendar year, providing an objective snapshot of premium pricing across the city.
Gbagada ranks eighth with an average daily rate of N113,000 for 2-bedroom shortlet apartments in Lagos. The area serves as a strategic mainland base, offering convenient access to both Lagos Island and the airport, while providing a secure, gated community atmosphere that appeals to business travelers, middle-income families, and transit guests.
While 2-bedroom units are part of the market mix, the area is primarily dominated by studio apartments (39%) and one-bedroom units (30%) in 2025. Rates for 2-bedroom shortlets climbed from N100,000 in January to N135,000 in September, reflecting strong seasonal demand and the market’s ability to adjust pricing effectively to meet fluctuations.
Most stays are short-term, with the majority of guests booking for a single night or two, and occupancy peaked at 75% in December.
