Lekki Phase I Leads Lagos Shortlet Revenue at N93.78bn

According to the Lagos shortlet market report for 2025, Lekki Phase I has topped the revenue charts with N93.78 billion, a slight decrease from N94 billion in 2024. The report, published by Edala Develop, highlights that the submarket continues to strengthen its reputation as a vibrant hub attracting young professionals, entrepreneurs, and creatives.

The daily rental rates in Lekki Phase I range from N111,000 for a one-bedroom unit to approximately N377,000 for a five-bedroom villa. The report also notes that the two-bedroom unit prices rose from N140,000 in February to N196,000 in December.

Other areas like Lekki Peninsula II earned N72.02 billion, maintaining its position as a top-earning area, while smaller submarkets like Yaba and Gbagada recorded gains. The report indicates that the Lagos shortlet sector has expanded rapidly over the past five years, driven by corporate travel, tourism, and digital nomads seeking high-yield properties.