The short-term rental (shortlet) market in Lekki, Lagos is booming and if you have ₦20 million to invest, you can tap into this cashflow-driven business with the right guidance and strategy.
Instead of chasing land or waiting on long-term appreciation, consider a steady income stream that pays monthly, weekly or even daily. Here’s how to do it smartly:
Step 1: Work With A Trusted Agent
First, don’t go into Lekki blindly. A trusted real estate agent will help you rent the right property in the right location close to demand zones like Lekki Phase 1, Ikate, or Chevron.
Step 2: Rent a 2-Bedroom Apartment – ₦7M to ₦8M
Target modern apartments in secure estates with 24/7 power, water, and good road access.
Annual rent for a 2-bedroom in Lekki is around ₦7M–₦8M.
Step 3: Furnish the Apartment – ₦2M
Invest in tasteful but durable furnishings: beds, wardrobes, TV, kitchen appliances, air
conditioners, and modern décor. Think hotel-like experience, but homey.
Step 4: Hire Staff – ₦2M–₦2.4M Annually
You’ll need a dedicated cleaner and a facility manager (or someone that doubles as both). Their
job is to keep the property clean, stocked, and guest-ready.
Step 5: Maintenance & Tools – ₦500K
Invest in tools and emergency fix kits, light bulbs, basic plumbing kits, backup gas, etc. Also,
plan for wear and tear.
Step 6: Service Charge & Electricity – ₦2.5M Annually
Pay your service charge upfront and maintain a prepaid meter with consistent power credit.
Guests won’t tolerate blackouts or water issues.
Step 7: Advertise & Launch
List your property on platforms like Airbnb, Booking.com, and shortlet directories. Run ads on
Instagram and Google to reach high-value guests.
Your Total Investment: ₦19M–₦20M
And from there, your income begins. With consistent occupancy (15–25 days/month), you could
earn ₦1M–₦1.5M monthly, covering your annual costs in less than a year.
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Top Areas in Lagos with Luxury Properties
If you’re seeking high-end living or investment-ready homes, these Lagos neighborhoods offer
premium value, security, and lifestyle.
- Banana Island (Ikoyi)
- Ultra-exclusive gated community
- Waterfront homes, mansions, and luxury apartments
- Ikoyi
- Old-money prestige
- Embassies, duplexes, and high-rise residences
- Victoria Island (VI)
- Corporate luxury blend
- Penthouses, serviced apartments, and ocean-view properties
- Lekki Phase 1
- Trendy and upscale
- High rental yield, luxury terraces, and duplexes
- Oniru (VI Extension)
- Beach access and shortlet hot zone
- Stylish apartments and serviced estates
- Ikate, Lekki
- Luxury with lifestyle
- Popular with upwardly mobile buyers, filled with modern terraces and mini-estates
- Lekki County / Megamound Estate
- Gated, serene, and family-friendly
- Offers premium duplexes, detached homes, and excellent infrastructure
- Ikota, Lekki
- Rapidly growing with luxury clusters
- Known for gated estates and smart homes
- Osapa London, Lekki
- High-end suburb feel
- Contemporary architecture, close to Lekki Phase 1
- Ajah
- Affordable luxury
- Gated estates, new developments, great for mid-tier luxury buyers
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