unity004:
enjoying my 2bedroom flat in nasarawa @50,000naira

virginboy1:
Aboki no get time for the exorbitant lagos house rent wahala.
That's why many of dem turn their wheel Barrow, Okada,Shop And under bridge to their house.

GboyegaD:
Demand outweighs supply.

CotenantNIG:
Why is property expensive in Lagos? Have you ever been involved in a conversation around this question?

No doubt, Lagos is the commercial hub of Nigeria and this is the reason its real estate sector has been an issue discussed in several fora, both home and abroad.

The number of housing units available in Lagos is not sufficient for the population. According to the Pison Housing Group’s 2019 report, the housing stock in Lagos is estimated to be 1.492 million units, while the United Nations put its population at 18 million people in 2019.

Below are reasons property in Lagos remains largely expensive:

Greedy Real Estate Agents: A lot of real estate agents in Lagos are notoriously greedy. A lot of people can actually afford to pay the rent of a house they’ve seen but imagine an agent asking for almost the same amount for agreement, commission, etc . Some deliberately deny people access to affordable properties for example you try to rent an apartment with a rent of ₦200,000 yearly an agent can demand up to ₦170,000 for agreement, commission, damages etc.

Inconsiderate landlords: Due to how desperate some Lagosians are, Landlords take advantage of this and deliberately increase the cost of renting their houses, landlords in Lagos know if you don’t pay for the apartment on time some other person out of desperation would pay for the apartment that might be too expensive for you.

Yahoo Boys: Have you noticed the reasons why agents increase agreement and commission is because yahoo boys don’t negotiate they just pay and move in. Yahoo Boys can pay for anything, I believe they play a major role in the high cost of rent in Lagos.

Location: Rent defer in Lagos, the cost of renting a 2 bedroom apartment is much lower than the cost of renting a mini flat in Ikoyi or Lekki but it can be worst when the cost of renting a 2 bedroom apartment in egbeda that is closer to the road or bus stop is more expensive than the ones that are inside the streets. Just add ₦20,000 to ₦30,000 inside your rent calculation

Structure of the House: The cost of renting a new house is much more expensive than an old house even if they are close to each other. The funny thing is the old house has a stronger design than the new house, for example, the plumbing work of the older house is much better than the new houses that are been built right now. One example is an estate called Goodluck Jonathan at Pipeline Isheri Igando Road, the houses look beautiful on the outside but the plumbing works , drainage etc is a mess

Too Many Prospects: A house can be viewed by more than 10 prospects in a day, this gives house owners and agents the perfect opportunity to increase the cost of rent and stand by it. They both know that one person would eventually pay, houses in Lagos go very fast. There is no first-come basis in Lagos real estate market, it is first to pay.

What is your take? Please kindly enlighten us with a comment below. Thank you,Abuja is really cheap no much issue just pay ur 5 percent agent fee u are good to go u can even negotiate,there's alot of houses wasting here in Abuja,nobody is renting

https://clytee.com/2021/04/29/why-renting-an-apartment-in-lagos-is-so-expensive/

BNLR:




Government are not interested in this country again. All there life savings is somewhere in the Middle East, most especially my Northern Brothers in politics

Shellsploit:
House is very cheap in matogun, okearo.
With 400k u don pay for 3years rent for 3 bedroom flat..

But prepared to expect the worst during rainny season, na inside mud u go dey swim on daily basis.

OfficialBrendan:
Thanks bro..
Omo for someone that earns 150k..I'll just allow him stay for as long as possible although it's hell-stressful for him but there's no hope for him at the moment because he's setting his rent budget at 200-250k. Although quite understandable because he's still a young bachelor and no plans yet of settling down

Ugandatales:

ecomalchemist:
Baba people move for different reasons.
Different strokes for different folks and I'm letting you know the current situation on ground. You cannot really go that far in Lagos if you don't have some kind of support (housing, accomodation, feeding and transportation)...

The system is designed to keep one stagnant for some time due to the bills. Lagos is good for business due to population growth....even if you sell popcorn in a busy street you will make your money...but your standard of living is low due to the fact that you are stressed 80% of the time coupled with anxiety issues.

As a young fresh graduate, I would not advice anyone to come here to do 9to5, e no pay unless na oil and gas, telcomms or tech brother. Most entry level sef no dey earn pass 150k...half of that goes to tfare..feeding...and family members...you are running the rat race.. If you are still doing nysc...save the living shit out of that money, go back home..start POS, scanning, printing, passport photograph..infact just have a busy place that churns out money daily...within 6 months...find another location and replicate the same business. That's how you build a viable business.

Alternatively, if you want to go the entrepreneurship route in Lagos, there are good hubs u can go to learn work (computer village, trade fair, Alaba, idumota, ladipo)...after a while you can start up...but if you don't have the means ..na east sure pass....I know one big time business man for east....he dey enter Lagos via night bus to buy goods...that same day...he don enroute go back base... So it depends on what works for you like i said..the internet has demystified entrepreneurship now...u can stay in sambisa forest and do business.

Cheers.

odiomachi:
its all but because Lagos is over hyped, with the way the eco system is going right now 70 percent of Lagos will be submerged into the Atlantic ocean in less than 50 years coming. An intelligence report made this know 2013 but tinubu and fashola made sure they scrub it of the net because of eko Atlantic failed project.

wunmi590:


God go help us...

I just dey pray make I no disappoint my 5month old daughter....

I promised her she would be in a saner country before she complete 5years old.....

So help me God

odiomachi:
its all but because Lagos is over hyped, with the way the eco system is going right now 70 percent of Lagos will be submerged into the Atlantic ocean in less than 50 years coming. An intelligence report made this know 2013 but tinubu and fashola made sure they scrub it of the net because of eko Atlantic failed project.

Ahmeduana:

Amen brother man, am also in the same situation you are in, sometimes when I look at my children there is this fear like feeling that may be I may not be able to fulfil all my responsibilities on them, but I know say na lie, am gonna give it whatever it takes.

odiomachi:
its all but because Lagos is over hyped, with the way the eco system is going right now 70 percent of Lagos will be submerged into the Atlantic ocean in less than 50 years coming. An intelligence report made this know 2013 but tinubu and fashola made sure they scrub it of the net because of eko Atlantic failed project.

MajesticKris:
Me sef, I don't Deal on house's from 800 thousand...

If you need a good place, it starts from 3m.. and it's on the island

Akpuobi1:
1. Don't blame yahoo boys. They account for less than 0.001% of Nigeria's population.

2. Blame irresponsible government and NASS that doesn't know that cement should be among the cheapest commodity if it wants it's citizens and Nation attain housing and infrastructural sufficiency.

3. Blame irresponsible government & NASS that turn a blind to landlords rascality and devour tenants attitude.

It's a messed country

OfficialBrendan:
Any idea what the rent is like around Berger area. I have a friend that wanna move down there due to accessibility to work and lower rent. He work at Ketu.
A room and parlor..or atleast one room selfcon

Or any suggestions on locations that r cheap and accessible to Ketu..

He stays with me at Ajah and spent almost 40k on tfare last month

Emeka71:
See sense.

WIZGUY69:
The rate of lease doesn't correlate with the average salary in Lagos.

Konquest:

It's the power of relentless immigration into Lagos and
Ogun States.