Short-Let & Airbnb Prices in Lagos
Nightly and monthly rates across 8 Lagos zones — from ₦5K budget Mainland to ₦550K Banana Island luxury. Compare with hotel and annual rent costs, see investor yields (24% average in Q1 2026), and pick the right platform.
Lagos Short-Let Prices by Zone
8 zones with nightly + monthly rates, occupancy, and investor net yield.
| Zone | Nightly | Monthly | Occupancy | Net yield | Best for |
|---|---|---|---|---|---|
| Banana Island / Eko Atlantic 📍 Island | ₦230K–550K avg ₦350K | ₦4000K–8.0M | 85% | 18% | Ultra-HNW travelers, CEOs, diplomats, wedding parties |
| Victoria Island 📍 Island | ₦70K–200K avg ₦190K | ₦1500K–2.0M | 92% | 22% | Business travelers, expats, diaspora visitors, corporate relocations |
| Ikoyi 📍 Island | ₦120K–300K avg ₦200K | ₦1500K–3.0M | 88% | 20% | Diplomats, long-stay expats, luxury seekers who want quiet over nightlife |
| Lekki Phase 1 📍 Island | ₦65K–120K avg ₦85K | ₦800K–1.5M | 92% | 26% | Young professionals, diaspora visitors, couples, remote workers |
| Lekki Extension / Ajah 📍 Island | ₦35K–75K avg ₦55K | ₦500K–1.0M | 85% | 24% | Budget travelers, families, longer stays |
| Ikeja 📍 Mainland | ₦25K–60K avg ₦40K | ₦300K–0.5M | 82% | 20% | Airport transit, business travelers, mainland corporate visitors |
| Yaba / Surulere 📍 Mainland | ₦15K–40K avg ₦25K | ₦200K–0.4M | 80% | 22% | Tech workers, NYSC members, students, budget travelers |
| Ikorodu / Festac / Budget areas 📍 Mainland | ₦5K–25K avg ₦12K | ₦100K–0.3M | 68% | 18% | Ultra-budget travelers, relocating families, long-term budget stays |
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.
| 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 | ❌ | ❌ | ❌ | ❌ |
💰 Lagos short-let investment yield calculator
Buy + furnish a Lagos apartment, list as short-let, earn rental income. See how the yield compares to other Lagos investments.
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 | ✅ |
Browse by zone
24% net yield: why Lagos short-lets outperform every other asset class except stocks
A furnished 2-bedroom apartment in Lekki Phase 1 costs ₦80M to purchase plus ₦8-12M to furnish to short-let standard — total investment of ₦90-95M. At 92% occupancy and ₦85,000/night average, the apartment generates ₦28.5M gross revenue per year. After management fees (15%), cleaning (₦800K/year), maintenance (₦500K/year), platform commissions (12%), and contingency, the net income is approximately ₦18-19M — a 20-21% net yield.
Compare that to alternatives: a bank fixed deposit yields 18% with zero effort but no capital appreciation. The NGX All-Share Index returned 55% YTD but with significant volatility and no cash flow. Annual rent on the same Lekki apartment yields 8-12% but with tenant risk and no furnishing premium. The short-let sits in a unique position — higher yield than rent, steadier cash flow than stocks, and the underlying asset appreciates with Lagos real estate inflation (15-20% annually in prime zones).
The catch is operational. A short-let is a hospitality business, not a passive investment. You need 24/7 power (₦50K-₦150K/month in diesel/solar), WiFi (₦15K-₦25K/month), daily cleaning staff, a responsive manager for guest check-ins, and the ability to handle maintenance issues within hours. The 24% yield is real — but it requires work that a bank deposit or stock portfolio does not.