Houses and Apartments for rent Lagos Nigeria

If you choose to visit or reside in Lagos Nigeria what are the kinds of rents and their ranges and in which parts of Lagos do such rents apply?

Take it from an experienced Lagosian, house rent in Lagos Nigeria has always been on the increase year in year out and there is no indication that it will change anytime soon. So even in places where you least expect it, rents could be too expensive for many people.

Price range for rents N 100,000 a year for self contained and above, 2 bedroom flats N 200,000 a year and above, 3 bed room flats N 250,000 a year and above of course it all depends on the location and age of the building. Perhaps what you want is a dedicated apartment such as a bungalow of duplex for yourself and your family, then start looking at N 500,000 and N 750,000 a year and above respectively.

In certain places do not be surprised that rents are quite unbelievable.

Causes of increasing house rent

Why are house rents so expensive in Lagos Nigeria? Some people have argued that people pay more than they ought to for accommodation being that houses in Lagos are not necessarily better built than those in other parts of the country. My take on it is this house rents are high because;

Most Lagos Landlords are greedy

Trust Lagos landlords to be exploitative with the rent increases. They never seem satisfied for the harsh economic Palavers their greed could bring on others. For instance it is regular practice for landlords to demand 2 or even 3 years house rents upfront from new tenants. Some in extreme cases could demand for up to 5 years rent upfront. Never mind that their houses are older than most of their tenants, these landlords will often justify their heavy rents on cost of building materials, the economy and other silly excuses. If however you find a landlord who is considerate to take just a single year rent, count yourself lucky but make sure you do a background check of the house and perhaps your potential neighbours as well.

High population density

In many parts of Lagos Nigeria, there is a rapidly increasing population. Places like Onipanu and shomolu (which for long have had stable and affordable rents and still are when compared to other places) have experienced massive increase in rents over the last decade. I blame this on population explosion in those areas as they are fast becoming commercial hubs unlike the residential areas they were less than 15 years ago. Festac, IKeja and Surulere on the other hand are far more expensive than most places on the mainland because of their strategic significance although they too are densely populated areas.

Location and exclusivity

Another reason for increasing and high house rents has to do with the location of the houses. Since most Lagosians employed in the formal sector work on the Island, houses closer the Island especially those on the Island tend to be more expensive than those elsewhere. For instance Surulere, Yaba and Apapa are closer to the Island than Mushin, Ogba and so on, hence rents are relatively higher. Not forgetting, Lekki, Ikoyi, Ajah and Victoria Island these places are also very expensive.

Another cause of high rents will be Commercial nature of the locations. Apapa is both an exclusive and strategic part of town because of its closeness to the Lagos ports and the industrial nature of its infrastructure hence demand for houses is not only high but could rightly be described as exclusive. Most of the countries imported cargos and shipments berth at its ports hence, the sheer volume of transactions make it an exclusive area. Also Ikeja is an exclusive area because it is the capital of Lagos state and has a number of industrial estates. Also its closeness to the Tollgate and Airports confers some measure of exclusivity.











More by this Author


Comments

No comments yet.

    Sign in or sign up and post using a HubPages Network account.

    0 of 8192 characters used
    Post Comment

    No HTML is allowed in comments, but URLs will be hyperlinked. Comments are not for promoting your articles or other sites.


    Click to Rate This Article
    working