Property prices for rent in Lagos (Lagos)

The rent prices in real estate in Lagos, in the Lagos region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.

₦ 2,085,738.33
Average price last 6 months
₦ 4,882.3
Price/m² last 6 months
Average price per m2

The price per m² in Lagos has risen strongly during the last 6 months. In July, the average price per m² was ₦ 3,880.47. In the following month the price per m² rose to ₦ 4,197.08. The price for the following two months in (September, October) had a considerable rise of 157 %. The price per m² has had a considerable fall of 82 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of ₦ 5,185.29 to ₦ 4,276.31 during November, and December.

Average price

When referring to the price in Lagos (cities & towns), there have hardly been any changes in the last 6 months. The average price during our first sample month during July, is ₦ 2,119,167. During August the price went through a considerable rise reaching ₦ 2,667,292. During the following two months (September, October) the average price fell 93 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from ₦ 2,308,279.25 to ₦ 1,640,656.5, which means a 71 % fall.

Average price per bedrooms

The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of ₦ 1,425,313 they are 59 % more affordable than the average price for Lagos . The properties with the highest average price have 4 bedrooms, Their price is 76 % more expensive than the average. After that we have properties with 3 bedrooms priced at ₦ 1,530,000.

With regard to the average price per m², those properties with 1 bedroom are the most affordable ones at a cost of ₦ 994.06 / m², with an average ₦ 3,386.95 / m² price in Lagos. The properties with the most expensive average prices have 4 bedrooms. They are 46 % more expensive than the average followed by properties with 3 bedrooms with a price at ₦ 3,304.8 / m².

Price per property type

The graph displaying the average rent prices displays the property type "Flat" as the most affordable one. At an cost of ₦ 1,425,313 it is 80 % more affordable than the average price in Lagos. "Land" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Land". At a price of ₦ 1,860,661 it is 308 % more expensive than the average price.

According to the average cost per m², the most affordable property is "Land" at an average price of ₦ 2,576 / m² followed by "House" priced at ₦ 10,905 / m². "Flat" is the most expensive type of property with a ₦ 13,738 / m² value followed by "House" with an average price of ₦ 10,905 / m².

Charts data
Average price December
Average price per m² December
Number of properties used in Lagos
Number of properties used in region Lagos
₦ 1,425,313
₦ 3,386.95
** Graph's data with null or zero value are due to there isn't enough data available to get a reliable value