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.
Lekki Phase I ranks fifth with an average daily rate of N149,000 for 2-bedroom shortlet apartments in Lagos. The area attracts young professionals, entrepreneurs, and the creative class seeking proximity to trendy leisure hubs and a vibrant urban lifestyle.
Two-bedroom shortlets account for 36% of the inventory in 2025, offering modern, well-equipped units that align with guest preferences for comfort and convenience. Pricing is influenced by unit size, building quality, and access to the area’s high-demand amenities.
Shortlets in Lekki Phase I are primarily booked for brief stays, with most guests staying one or two nights. The Edala Development report noted that Lekki Phase I generated the most revenue for shortlets across the state in 2025, reinforcing the area’s appeal to both investors and visitors seeking short-term accommodation.
Its combination of high occupancy, dynamic pricing, and desirable location makes it a standout performer in Lagos’ shortlet market.
