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

4 min read

Victoria Island is a part of Lagos with a fabled history. It makes a great location for relaxing and socializing as well as an ideal neighbourhood to settle down with your family. You wouldn’t be wrong if you call it the Business and Lifestyle centre of the city. It houses many banks and company headquarters making it an attractive area for people to find work or thrill seekers who want to be a heart beat from the action.

V.I as it is fondly called, is a planned city, some areas within are sand filled from the Atlantic Ocean. It has significantly proved to be a growing business hub with many small businesses, supermarkets (Spar, Goodies), malls (Mega Plaza), cafe’s, restaurants, hotels, cinemas (Silverbird) clubs and lounges spread around.

Now, with affluence comes expense. Renting a 1, 2 or 3 bedroom apartment in this part of town requires some serious commitment budget wise but let’s break down the expected prices from three stand points.
• Economical
• Standard
• Expensive/Luxury

Economical Apartments

Economical 1 bedroom apartment

Expect to pay any amount between N300, 000 – N500, 000 if you have a string budget. Amenities you can expect to have include one bedroom and bathroom, kitchen, parking space, about 12 – 16 hours of electricity daily, water supply, so also accessible road networks.

Economical 2 bedroom apartment

The economical rates for a 2 bedroom flat in this area will be around N500, 000 – 2, 000, 000. Apartments in this range definitely come with en-suite rooms, ample parking, tarred road, good water supply, constant electricity and stand by generator, security. The areas in Victoria Island where you’ll find economical 2 bedroom apartments include Oniru, 1004 estates, Kofo Abayomi amongst others.


Economical 3 bedroom apartment

With a budget of N2, 000,000 to as much as N3, 500, 000 you will get a 3 bedroom flat. Amenities to expect include en-suite rooms, parking space, furnishing, standard electricity, security, good water supply. In addition, accessible road networks, and interlocked compound.

Standard apartments

Standard 1 bedroom apartment

Have ready about N500, 000 – N1, 500, 000 if you want to rent a standard 1 bedroom apartment in Victoria Island. This amount will definitely get you an apartment with one bathroom/shower, kitchen, parking space, 12 – 16 hours of daily electricity. Likewise water supply, accessible road networks.

Standard 2 bedroom apartment

If you’re looking to rent a 2 bedroom apartment in Victoria Island with a standard budget you’ll find some from N2, 000, 000 to as much as N5, 000, 000. These apartments can be found in Oniru, 1004 estates, Adeola Odeku. Expect to get tiled floors, kitchen, pool, elevator, constant electricity supply, gym, en suite rooms and so on. Service charge might apply for some apartments.

Standard 3 bedroom apartment

Renting a standard 3 bedroom apartment in Victoria Island doesn’t come cheap. Some start from N4, 000, 000 and goes up to about N8, 000, 000 per annum. You’ll find these apartments in areas like Kofo Abayomi, 1004 estates, Oniru to name a few. Most importantly, such apartments certainly come with fitted kitchen, swimming pool, gym, elevator, ample car parking, constant electricity, good road networks, proper drainage. So also CCTV, security, treated water.

Luxury apartments

Luxury 1 bedroom apartment

Victoria Island lives up to its reputation as one of the playgrounds for the rich. If it is in your budget to go for something pricey and exclusive, be ready with anything from N2, 500, 000 – N5, 000, 000. Of course you should expect the following, tiled floors, swimming pool, gym, en-suite rooms. Furthermore, ample parking space, elevator, CCTV, washing machine, smoke detector, security, 24 hour electricity, serene and clean environment. You’ll find 1 bedroom luxurious apartments in V.I at Akin Adesola, Oniru, 1004 estates.

Luxury 2 bedroom apartment

A luxurious 2 bedroom apartment in Victoria Island goes from N3, 000, 000 to as much as N8, 000, 000 per annum. Some property owners collect rent in Dollars. These apartments are usually found in areas like 1004 estates, Adeola Odeku, Kofo Abayomi, Oniru. Expect your apartment to come fully furnished and with 24 hour electricity, swimming pool, en-suite rooms, parking space. So also accessible road network, interlocked compound, security, elevator, gym, treated water, visitor’s toilet, maid’s room and more.

Luxury 3 bedroom apartment

Renting a 3 Bedroom apartment in Victoria Island starts at N4, 500, 000 to N10, 000, 000, sometimes even more. Amenities include ample parking, 24 hour security, swimming pool, air conditioned rooms, children’s play area, study. You also get walk in closet, laundry rooms, 24 hour electricity, fitted kitchen, boys quarters, treated water, jacuzzi, clean environment.

luxury apartment for rent in Victoria Island

Always remember to view in person before committing to any property. Some properties may demand service fee and a refundable caution fee. After viewing and with a more precise view of what’s on offer, you can then proceed to make your choice. Let’s get you your dream apartment in Victoria Island.

Abd'kareem Oladipo

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

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