Gbagada-Yaba Market Sees 231 Active Short-Let Apartments

According to a report from Oiku Real Estate Intelligence, Gbagada and Yaba currently feature 231 active short-let apartments, with a median nightly rate of ₦75,000. The report indicates that one-bedroom short-let apartments are priced at ₦60,000 per night, achieving a 60% occupancy rate, which generates approximately ₦13.1 million annually per unit.

Standard leases in the area yield around ₦2 million annually, resulting in a 6.5% yield, making short-lets a lucrative investment channel for landlords. The report also notes that there are 3,255 active properties listed within the area, reflecting a strong mid-range rental demand.

The short-let segment is characterized by yields significantly above standard rentals. The report emphasizes that the rental market is tightly clustered, with 75% of rentals priced between ₦1.7 million and ₦4.5 million annually.

Gbagada and Yaba are identified as premium hubs with high demand, supported by nearby educational institutions.