Top 10 most expensive areas for 2-bedroom shortlets in Lagos 

The Lagos shortlet market has grown from a fragmented, informal segment into an integral part of the city’s housing and hospitality landscape.

Rising demand from business travelers, tourists, and returning diaspora members has transformed short-term rentals into a structured and competitive market. Seasonal peaks, particularly during the festive “Detty December” period, push occupancy close to 100% in prime neighborhoods, reflecting the high turnover and short-stay nature of the market.

Lagos now attracts both corporate and leisure visitors, drawn by economic opportunities, events, and lifestyle offerings. Certain neighborhoods consistently command higher rates due to location, amenities, and accessibility, making them the most sought-after for 2-bedroom shortlets.

This ranking, based on The Edala Development Lagos Shortlet Market Report 2025, highlights areas in Lagos where 2-bedroom shortlet apartments recorded the highest average daily rates over the full 2025 calendar year, providing an objective snapshot of premium pricing across the city.

Surulere – N107,000

Surulere ranks tenth with an average daily rate of N107,000 for 2-bedroom shortlets. The area serves as a strategic mainland hub, bridging Lagos Island and the wider mainland, while offering a more affordable and community-focused alternative to high-end island neighborhoods.

Two-bedroom units form a smaller share of the market, dominated by studios (30%) and one-bedroom apartments (38%) in 2025. Rates for 2-bedroom units rose from N100,000 in January to N125,000 in December, reflecting strong seasonal demand.

Guest stays are primarily short-term, with most bookings lasting one or two nights. Surulere’s accessibility, affordability, and steady occupancy, peaking at 76% during festive periods, make it a resilient shortlet submarket attracting local professionals, transit guests, and visitors seeking convenient, budget-friendly accommodation.

Ajah – N110,000

Ajah ranks ninth with an average daily rate of N110,000. Once largely undeveloped, the area has transformed into a bustling residential hub along the Lekki–Sangotedo corridor, featuring modern apartment blocks, gated estates, terraces, and semi-detached homes.

Ajah’s strategic location along the Lekki corridor and emerging business and lifestyle hubs appeal to professionals, young families, and visitors seeking more affordable short-term accommodation compared to central Lekki.

Two-bedroom units provide a balance of space, modern amenities, and comfort, making them ideal for short stays and medium-term bookings.

Gbagada – N113,000

Gbagada ranks eighth with an average daily rate of N113,000 for 2-bedroom shortlet apartments in Lagos. The area serves as a strategic mainland base, offering convenient access to both Lagos Island and the airport, while providing a secure, gated community atmosphere that appeals to business travelers, middle-income families, and transit guests.

While 2-bedroom units are part of the market mix, the area is primarily dominated by studio apartments (39%) and one-bedroom units (30%) in 2025. Rates for 2-bedroom shortlets climbed from N100,000 in January to N135,000 in September, reflecting strong seasonal demand and the market’s ability to adjust pricing effectively to meet fluctuations.

Most stays are short-term, with the majority of guests booking for a single night or two, and occupancy peaked at 75% in December.

Ikeja – N125,000

Ikeja ranks seventh with an average daily rate of N125,000 for 2-bedroom shortlet apartments in Lagos. As the administrative capital and a major transit hub, the area appeals to business travelers and domestic guests seeking convenient access to Murtala Muhammed International Airport, corporate offices, and retail centers.

Two-bedroom shortlets account for a significant portion of the 2025 inventory, providing well-equipped units designed for comfort and short-term stays. Pricing reflects unit size, quality of facilities, and proximity to Ikeja’s commercial and transport nodes.

The market is characterized by high turnover, with most guests booking one or two nights. Seasonal peaks, especially during the festive period, help sustain robust daily rates, reinforcing Ikeja’s position as a reliable, high-yield shortlet submarket on the Lagos mainland.

Lekki Peninsula II – N127,000

Lekki Peninsula II ranks sixth with an average daily rate of N127,000 for 2-bedroom shortlet apartments in Lagos. As the city’s most expansive shortlet hub, the area spans from Ikate to Victoria Garden City, offering a diverse range of units that appeal to both budget-conscious and premium-seeking guests.

Two-bedroom shortlets make up 36% of the inventory in 2025, providing modern, well-equipped apartments that balance comfort and affordability. Pricing reflects property quality, access to local amenities, and proximity to Lagos’ commercial and leisure corridors.

The market is dominated by high-turnover, short-term stays, with most guests booking for one or two nights. Seasonal surges, particularly during the festive period, push two-bedroom rates up from N101,000 in March to N153,000 in December.

Lekki Phase I – N149,000

Lekki Phase I ranks fifth with an average daily rate of N149,000 for 2-bedroom shortlet apartments in Lagos. The area attracts young professionals, entrepreneurs, and the creative class seeking proximity to trendy leisure hubs and a vibrant urban lifestyle.

Two-bedroom shortlets account for 36% of the inventory in 2025, offering modern, well-equipped units that align with guest preferences for comfort and convenience. Pricing is influenced by unit size, building quality, and access to the area’s high-demand amenities.

Shortlets in Lekki Phase I are primarily booked for brief stays, with most guests staying one or two nights. The Edala Development report noted that Lekki Phase I generated the most revenue for shortlets across the state in 2025, reinforcing the area’s appeal to both investors and visitors seeking short-term accommodation.

Its combination of high occupancy, dynamic pricing, and desirable location makes it a standout performer in Lagos’ shortlet market.

Victoria Island – N158,000

Victoria Island ranks fourth with an average daily rate of N158,000 for 2-bedroom shortlet apartments in Lagos. The area remains a strategic choice for business travelers and tourists, offering convenient access to Grade A office spaces, high-end restaurants, and recreational attractions.

Two-bedroom shortlets account for 29% of the inventory in 2025, providing modern, well-equipped units that appeal to guests seeking comfort and short-term convenience. Pricing is influenced by unit size, quality of facilities, and proximity to the island’s commercial and lifestyle hubs.

Demand is strongest for brief stays, with the majority of guests booking one or two nights. Seasonal peaks during festive periods help sustain high daily rates, ensuring Victoria Island continues to deliver attractive returns for owners of 2-bedroom shortlet apartments.

Ikoyi – N234,000

Ikoyi secured the third position with an average daily rate of N234,000 for 2-bedroom shortlet apartments in Lagos in 2025. The neighborhood, home to some of Nigeria’s most expensive properties, attracts wealthy individuals and expatriates seeking exclusive, high-end living.

The 2-bedroom shortlet inventory, part of a broader market of 583 active listings, offers spacious units with modern facilities, where pricing reflects building quality and amenities. Demand is driven by premium comfort, access to elite social hubs like Ikoyi Golf Club, and proximity to commercial centers.

Shortlets in Ikoyi are primarily booked for brief stays, with most guests opting for one-night stays, making it a preferred choice for business travelers and high-net-worth visitors. Seasonal trends peak during the festive “Detty December” period, ensuring consistent high daily rates for 2-bedroom apartments in the area.

Banana Island – N236,000 

Banana Island ranks second with an average daily rate of N236,000 for 2-bedroom shortlet apartments in Lagos in 2025. Known for privacy, luxury, and high security, the island attracts high-net-worth individuals and expatriates.

Two-bedroom shortlets make up 25% of the market, offering spacious layouts, modern amenities, and premium features like waterfront views and smart-home technology. Demand is driven by the area’s exclusive lifestyle and proximity to Lagos’ commercial hubs, with occupancy peaking during festive periods.

In February 2026, the Banana Island Property Owners and Residents Association banned all short-let and Airbnb-style rentals, citing security concerns. The association said the ban would restore residents’ privacy and prevent misuse of apartments for criminal activities.

The decision drew mixed reactions online. Some Nigerians supported the ban as a necessary security measure, while others expressed concern that it could negatively affect investments in luxury short-term rental properties.

Eko Atlantic – N325,000

Eko Atlantic claimed the top spot with an average daily rate of N325,000 for a 2-bedroom shortlet apartment in Lagos in 2025. The city’s master-planned design, modern infrastructure, and towering residential complexes continue to position it as the most premium address in the state.

Built on reclaimed land along the Atlantic Ocean, Eko Atlantic offers advanced drainage systems, 24/7 security, and professionally managed facilities, making it especially attractive to high-net-worth individuals, expatriates, and corporate tenants seeking exclusivity and convenience.

Demand for shortlets in the area is fueled by luxury living, panoramic ocean views, and proximity to Victoria Island’s commercial hub. Consequently, Eko Atlantic continues to command the highest average daily rates in Lagos’ shortlet market.

Source: I confirmed from the author of this report that the Banana Island with N234K Average Daily Rate (ADR) is Ikoyi. That was a typo.