A new housing study is set to examine the real cost of living in Lagos by looking beyond rent to include transport, housing fees, infrastructure and access to investment opportunities.
GTI Investment Group will present the findings of its Beyond Rent research at the Lagos Housing and Capital Forum on August 20, 2026. The study examines how housing, transport, regulation and investment interact across the Lagos property market.
The research is aimed at renters, investors, developers and policymakers. It seeks to provide a broader view of the forces shaping housing costs and investment decisions in Nigeria’s commercial capital.
The True Cost of Renting
For many Lagos residents, the cost of housing does not end with monthly or annual rent.
According to the research, households may also face agency charges, caution fees and advance payments before moving into a property. Transport costs can add another major expense, especially for residents who live far from their workplaces.
GTI Research’s Effective Rent Burden Matrix brings housing and transport costs together to measure the wider cost of living in different parts of Lagos.
The approach could change how renters compare locations. A property with lower rent may not always be the cheaper option if residents spend significantly more on daily transport.
This is particularly relevant in a city where access to jobs, transport infrastructure and housing is closely connected. The research therefore places location at the centre of the housing affordability debate.
Infrastructure and Property Investment
The report also examines the changing ways Nigerians can invest in real estate.
According to the study, investors now have several options beyond buying a complete property or plot of land. These include different forms of fractional ownership and other investment structures.
GTI Research also links property investment to infrastructure development. It examines rail catchment yields, real estate investment trust performance and construction equity returns.
The research argues that investors should consider where infrastructure is expected to develop, rather than focusing only on areas where infrastructure has already arrived.
This could help investors assess emerging property corridors and compare current prices with future development potential.
Policy and Tenant Protection
The report also reviews the policy environment affecting Lagos renters and property owners.
It assesses the Lagos State Tenancy Law of 2011 and argues that some of its penalties became less effective because they were not updated over the years. It also examines the treatment of certain rental practices in high-rent areas.
The study considers the 2025 Tenancy and Recovery of Premises Bill as an improvement in areas such as coverage, fee limits and tenant protections.
However, it stresses that stronger laws must also have effective systems for enforcement. Without proper enforcement, legal protections may have limited impact on renters and landlords.
Closing Lagos’ Housing Finance Gap
Housing finance is another major area covered by the research.
GTI Research proposes four financing instruments that it says could mobilise as much as ₦3.85 trillion annually toward addressing Lagos’ housing capital gap.
The proposal reflects a wider challenge in the housing sector. Building more homes requires not only land and construction capacity but also access to long-term capital.
For developers, financial institutions and government, the availability of housing finance can influence the number of homes that can be delivered and the people who can afford them.
Housing as a Capital System
The central argument of the Beyond Rent research is that Lagos housing should not be viewed only as a question of supply.
Instead, the study presents housing as a system in which income, transport, infrastructure, regulation and financial markets affect where people live and how property value is created.
That approach brings renters, investors, developers and regulators into the same conversation. It also highlights the need for housing policy to consider both the cost of homes and the wider economic conditions surrounding them.
GTI Investment Group will present the full research findings at the Beyond Rent: A Lagos Housing and Capital Forum on August 20, 2026. The forum will bring together policymakers, investors, developers, financial institutions, academics and other industry stakeholders.
The wider significance of the research lies in its attempt to connect housing costs with transport, infrastructure, regulation and capital. For Lagos, where housing affordability remains closely tied to location and income, a broader understanding of these links could support better decisions by households, investors and policymakers.
