The average rent price in the Lagos region has remained at pretty much the same value in recent months. Rent prices in this region have remained pretty much the same.
The price per m² in Lagos has barely changed in the last 6 months. During October, the average price per m² was ₦ 14,250.06. In November the price barely changed remaining at ₦ 13,717.33 per m². The following two months (December, January) went through a fall of 88 % in the rent price per m² with regard to the previous two. In the last two months, the price per m² has had a significant rise of 129 %. This has been obtained by comparing the price of ₦ 13,121.51 for the first four months of the sample with regard to the previous 4 months and the price of ₦ 16,880.79 per m² for the last two months (February, March).
When referring to the price in Lagos(region), this has risen considerably in the last 6 months. The average rent price in October is ₦ 2,242,913. In November the price rose to ₦ 2,379,001. In the following two months the average price practically remained the same compared to the previous two going from ₦ 2,310,957 to ₦ 2,319,250. During the last two months the price has had a considerable rise of 184 % with respect to the previous four months going from ₦ 2,315,103.5 a ₦ 4,251,562.5.
The graph displaying the the average rent price per number of bedrooms shows that those with 1 bedroom are the most affordable ones. They are 70 % cheaper than the average price in Lagos followed by those with 2 with an average price of ₦ 2,729,851. The most expensive properties have 4 bedrooms. They are 33 % more expensive than the average followed by those properties with 3 bedrooms priced at ₦ 4,734,568.
Based on the average price per m² those properties with 1 bedroom are the most affordable ones with a price of ₦ 7,018.63 / m² being ₦ 15,615.96 / m² the average for Lagos. The properties with the highest average price are those with 4 bedrooms. These are 26 % more expensive than the average followed by those with 3 bedrooms with a price of ₦ 17,916.76 / m².
The graph displaying the average rent price according to the property type shows "Duplex" as the most affordable one. With an average cost of ₦ 4,311,875 it is 59 % cheaper than the average in Lagos. This is followed by "Commercial" with a cost of ₦ 1,879,862. The most affordable property type is "House" and is 45 % cheaper than the average, followed by "Commercial" with a cost of ₦ 1,879,862.
Based upon the average cost per m² the most affordable property type is "House with a an average price of ₦ 6,011 / m², followed by "Duplex" with a price of ₦ 10,149 / m². "Commercial" with an average price of ₦ 11,271 / m² is the most affordable type of property followed by "Duplex" at a price of ₦ 10,149 / m².