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.
Ikoyi secured the third position with an average daily rate of N234,000 for 2-bedroom shortlet apartments in Lagos in 2025. The neighborhood, home to some of Nigeria’s most expensive properties, attracts wealthy individuals and expatriates seeking exclusive, high-end living.
The 2-bedroom shortlet inventory, part of a broader market of 583 active listings, offers spacious units with modern facilities, where pricing reflects building quality and amenities. Demand is driven by premium comfort, access to elite social hubs like Ikoyi Golf Club, and proximity to commercial centers.
Shortlets in Ikoyi are primarily booked for brief stays, with most guests opting for one-night stays, making it a preferred choice for business travelers and high-net-worth visitors. Seasonal trends peak during the festive “Detty December” period, ensuring consistent high daily rates for 2-bedroom apartments in the area.
