A report published by Alitheia Capital in 2011, suggested that Nigeria’s short stay serviced apartment industry held a good potential for real estate investments. A phenomenon that has been proved to be valid in the last 5 years. Today, traditional hotels are gradually losing market share to serviced apartments or short let homes.

Before now, short-let apartments were mostly patronized by professionals from oil companies, telecommunications companies, and diplomats; but this has changed as more politicians, tourists, celebrities and entertainers now opt for short stay serviced apartments when they travel to a new city. According to a Market Watch report, the short-term rental market has exploded in recent years, with a predicted occupancy rate of 70% in 2021.

Short let apartment demand is on the rise for a variety of reasons.

From our research, we have identified 4 reasons contributing to increasing demand for short let apartments, and we’ll be sharing them below.

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great post