Lekki Phase 1 Short-Lets
The short-let sweet spot: premium enough for quality, affordable enough for extended stays. Highest occupancy (92%) and highest net yield (26%) in Lagos. The N80K-N120K/night range is the market's volume centre. Most popular with Nigerian diaspora visiting home.
₦65K–120K/night92% occupancy26% net yieldIsland
Typical amenities in Lekki Phase 1 short-lets
24/7 powerwifiNetflixACPS5pool (some)parking
Short-let vs Hotel vs Annual rent — Lekki Phase 1
The same apartment as a 1-night short-let, 1-month short-let, hotel room and annual rental. Last 4 columns show what's included.
2-bedroom apartment
| Option | Per night | Per month | Per year | ⚡ | 📶 | 🧹 | 🛋️ |
|---|---|---|---|---|---|---|---|
Short-let (per night × 30) Fully furnished, all bills included. The convenience premium. | ₦85K | ₦2.5M | ₦30.6M | ✅ | ✅ | ✅ | ✅ |
Short-let (monthly rate) Monthly rate — 53% cheaper per night than daily rate. | — | ₦1.2M | ₦14.4M | ✅ | ✅ | ✅ | ✅ |
Mid-range hotel Four Points Sheraton or similar. Hotel rate for comparison. | ₦120K | ₦3.6M | ₦43.2M | ✅ | ✅ | ✅ | ✅ |
Budget hotel Budget hotel. No daily cleaning on some days. | ₦60K | ₦1.8M | ₦21.6M | ✅ | ✅ | ❌ | ✅ |
Annual rent (per month) Annual rent: N5M-N12M/year. Excludes power (N50K-N150K/mo), wifi (N15K-N25K/mo), furnishing (N2M-N5M one-time). | — | ₦500K | ₦6.0M | ❌ | ❌ | ❌ | ❌ |
Lekki Phase 1 short-let investment snapshot
Buy price
₦80M
Furnishing
₦10M
Annual net income
₦19M
Net yield
26%
Lagos Short-Let Platforms Compared
6 platforms — Airbnb, Spleet, Shortlethomes, PropertyPro, Jiji, Booking.com. Commissions, listing counts and verification levels.
| Platform | Commission | Lagos listings | Verification | Insurance |
|---|---|---|---|---|
🏡Airbnb International travelers, diaspora visitors, tourists | 14% | 3,000 | ID Verified | ✅ |
🟢Spleet Young professionals, Nigerian-to-Nigerian bookings | 10% | 800 | Background Check | ❌ |
🏠Shortlethomes Verified premium listings in Lekki and VI | 12% | 500 | ID Verified | ❌ |
🔵PropertyPro Largest selection, direct-to-landlord negotiation | FREE | 6,262 | Basic | ❌ |
🟡Jiji Budget options, mainland listings, direct deals | FREE | 4,595 | Basic | ❌ |
🔷Booking.com Serviced apartments, hotel-like short-lets | 15% | 500 | ID Verified | ✅ |