Apartment for Rent in Lagos Island – How Much You Should Expect To Pay

Lagos, one of the fastest growing cities in Africa is made up of 2 major areas; Lagos Island and Lagos Mainland. The Lagos Island, also known as Isale Eko happens to be the principal local government of Lagos State. It has a lot of history, dating as far back as the 1800’s with Brazilian, Portugese, English and Benin Kingdom influences.

Many institutions like banks and multinational companies specifically have their headquarters in Lagos Island. It has popular markets like Balogun, Apongbon, Idumota and also Ebute Ero. Lagos Islanders keep their culture alive with the Eyo and Fanti festival. The palace of the Oba of Lagos is likewise located here.

Lagos Island links to neighbouring areas including Ikoyi, Victoria Island, Lekki, Ajah so also Epe. Every big thing associated with a city is available on the island. From fun hang out spots to bubbling economic activities of small, medium and large companies. As much as this part of Lagos is business oriented, there are a number of residential accommodations within. Prices for renting apartments in Lagos Island vary from area to area; we’ve highlighted prices for economical, standard and luxurious apartments available in Lagos Island below.

Economical Apartments

These are the places with the cheapest rent in Lagos Island. In this category, apartments from a 1 to 3 bedroom have an annual rent of between N100, 000 – N450, 000.

1 Bedroom Apartment

For a 1 bedroom apartment, prices goes from N100, 000 to as much as N250, 000 per annum, not all apartments have water running from the taps, roads are accessible and there’s electricity supply. The areas on the island for this category are: Obalende, Adeniji, Idumota, Okesuna, Campos, Igbosere amongst others.

2 Bedroom Apartments

Expect to spend anything between N150, 000 – N300, 000 per annum. These apartments come with good water supply, electricity, kitchen, one toilet/bathroom, accessible roads, parking spaces are limited. The areas in Lagos Island where you can get these economical 2 bedroom apartments are: Okepopo, Glover, Tokunboh, Obalende, Adeniji, Campos, so also Olowogbowo.

3 Bedroom Apartments


For an economical 3 bedroom apartment in Lagos Island, rent ranges from N200, 000 – N350, 000 per annum. Amenities include a parking space, accessible roads, water supply, and electricity. The areas to look at are: Iduganran, Obalende, Adeniji, Olowu, Tokunboh, Igbosere, Idumota, Bamgbose, TBS amongst others.

Standard apartments

Standard apartments in Lagos Island come with slightly better amenities. Apartments range from N300, 000 and goes up as much as N650, 000. Areas you’ll find these apartments in Lagos Island include: Obalende, Onikan, Igbosere, Lafiaji to name a few.

1 Bedroom Apartment

A standard 1 bedroom apartment starts at N300, 000 and goes up to N450, 000 per annum. They usually come with parking spaces, accessible roads, water supply, and also electricity.

2 Bedroom Apartments

With N400, 000 – N500, 000 per annum, you can get a decent 2 bedroom apartment in Lagos Island. In general, these apartments come with en-suite rooms, water supply, good roads, visitor’s toilet and at least one parking space. Areas these apartments are located are; Onikan, Olowu, Obalende, Lewis Street, Simpson Street, so also Adeniji Adele.

3 Bedroom Apartments

3 bedroom apartments in Lagos Island starts at N500, 000 – N650, 000 per annum, they come with en-suite rooms, good water supply, electricity. In addition, parking spaces, tiled floors, interlocking compound, fitted kitchen. Areas located are: Onikan, Adeniji, Upper Stratchan, Campos, Glover Street, Berkeley Street.

Luxury Apartments

These apartments are explicitly the most comfortable you will find in Lagos Island. Rent range is from N600, 000 – N1, 000, 000 per annum. Apartments have good water supply, accessible roads, fitted kitchen cabinets, electricity, and pre paid metre per apartment amongst others.

1 Bedroom Apartment

For a luxury 1 bedroom apartment in Lagos Island, expect to pay rent from N600, 000 to as much as N800, 000 per annum. Amenities like parking spaces, water supply, electricity, visitor’s toilet. So also security (OPC or Neighbourhood watch) and good roads. Areas include: Onikan, King George V road amongst others.

2 Bedroom Apartments

Rent for a 2 bedroom starts from N650, 000 – N750, 000. Apartments come with parking spaces, good water supply, electricity, tiled floors, visitor’s toilet. In addition, fitted kitchen and balcony. Areas to find them include: Onikan, King George V road, Simpson Street.

3 Bedroom Apartments

3 bedroom luxury apartments starts from N800, 000 and may go up as much as N900, 000 per annum. They come with parking spaces, en-suite rooms, fitted kitchen, good water supply, electricity, good roads, visitor’s toilet, also a balcony. These apartments might come along serviced; therefore an additional service fee will be charged. Areas to find these 3 bedroom luxury apartments include: Onikan, King George V, Joeseph Harden Street, to name a few.

 

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Abd'kareem Oladipo

"Seize the day, never trust in the promise of tomorrow" - a wise person

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