Property prices for rent in Lagos (Lagos)

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

₦ 1,639,514.5
Average price last 6 months
₦ 4,390.41
Price/m² last 6 months
Average price per m2

The price per m² in Lagos has had a strong fall during the last 6 months. In October, the average price per m² was ₦ 7,641.75. In the following month the price per m² fell considerably to ₦ 5,165.66. The price for the following two months in (December, January) had a considerable fall of 53 with regard to the previous two months. The price per m² has had a considerable fall of 69 % 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 ₦ 4,889.49 to ₦ 3,392.25 during February, and March.

Average price

When referring to the price in Lagos (cities & towns), this has fallen considerably in the last 6 months. The average price for October is ₦ 2,101,856. During November the price had a slight fall till ₦ 1,856,000. During the following two months (December, January) the average price had a considerable fall of 70 % with regard to the previous two months. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 92 %, going from ₦ 1,686,339.25 to ₦ 1,545,865 in February and March.

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 ₦ 1,684,188 they are 71 % more affordable than the average price for Lagos . The properties with the highest average price have 4 bedrooms, Their price is 34 % more expensive than the average. After that we have properties with 3 bedrooms priced at ₦ 1,712,500.

With regard to the average price per m², those properties with 1 bedroom are the most affordable ones at a cost of ₦ 1,156 / m², with an average ₦ 3,606.51 / m² price in Lagos. The properties with the most expensive average prices have 4 bedrooms. They are 19 % more expensive than the average followed by properties with 3 bedrooms with a price at ₦ 4,180.7 / m².

Price per property type

The graph displaying the average rent prices displays the property type "Semi-detached duplex" as the most affordable one. At an cost of ₦ 1,684,188 it is 83 % more affordable than the average price in Lagos. "Flat" is seen as the second most affordable property type. The most affordable property is "House" followed by "Flat". At a price of ₦ 1,185,125 it is 11 % more affordable than the average price.

According to the average cost per m², the most affordable property is "Flat" at an average price of ₦ 998 / m² followed by "House" priced at ₦ 3,861 / m². "Semi-detached duplex" is the most expensive type of property with a ₦ 13,696 / m² value followed by "House" with an average price of ₦ 3,861 / m².

Charts data
Average price March
Average price per m² March
Number of properties used in Lagos
Number of properties used in region Lagos
₦ 1,684,188
₦ 3,606.51
1,326
7,902
** Graph's data with null or zero value are due to there isn't enough data available to get a reliable value