The short-let rental market in generated an estimated N281.03 billion in revenue in 2025, highlighting the rapid growth of flexible accommodation services in Nigeria’s commercial hub.
The figure was revealed in a new market report by , which showed that demand for short-term rentals continues to surge among business travellers, tourists, expatriates and local professionals.
Rising Demand Drives Growth
According to the report, the short-let sector analysed 5,806 property listings using data from alongside Edala Homes’ internal tracking system. The findings underline the growing importance of short-term rentals within Lagos’ hospitality and real estate industries.
The N281.03 billion generated in 2025 represents an increase from the N264.3 billion recorded in 2024, reinforcing Lagos’ position as Nigeria’s leading destination for short-let accommodation.
Short-let apartments have become increasingly popular among travellers seeking residential comfort combined with hotel-style services. The properties now cater to a diverse group including corporate visitors, digital nomads and Nigerians in the diaspora returning home.
Lekki Leads Revenue Generation
Several neighbourhoods emerged as top performers in the sector. recorded the highest revenue, generating about N94 billion, followed by , which brought in approximately N70 billion.
Luxury districts also benefited from the growing demand for premium short-term stays. In , short-let properties generated around N37.5 billion, with projections suggesting the figure could reach N42 billion as demand for high-end accommodation rises.
Similarly, recorded about N19.3 billion in revenue, with estimates indicating potential growth to N21.6 billion in the coming years.
In , one of the city’s most exclusive residential districts, short-let rentals generated approximately N11 billion, with expectations that the market could exceed N12.4 billion as demand continues to grow.
Mainland Areas Emerging as New Hotspots
The report also identified several mainland districts as emerging markets for short-term rentals. Areas such as , , and are witnessing rising demand for mid-range short-let apartments.
These locations are attracting visitors due to their proximity to commercial centres, transportation networks and entertainment hubs.
Outlook for Nigeria’s Vacation Rental Market
Industry analysts say the rising popularity of short-let apartments reflects changing travel patterns, with many travellers preferring flexible accommodation that offers privacy, convenience and a home-like experience.
The report also projected that Nigeria’s broader vacation rental market could generate about $595.6 million in revenue by the end of 2025, with annual growth expected to exceed 10 percent over the next decade.
Growing tourism, increased business travel and wider acceptance of alternative accommodation models are expected to further boost demand for short-let apartments in Lagos and other major Nigerian cities.
