In Lagos Nigeria, houses of different types and shapes have various going rates and duration but that largely depends on environment and location. Please note $1 = N 150. In order to explain how rents are collected and where best to seek what kind of apartment let us decimate houses and rents in lagos Nigeria into houses on the mainland and houses on the Island.

Lagos Nigeria is typically divided into two segments namely the Island which houses much of the Middle class and upper classes and the mainland which houses a small segment of the upper class, middle class and the bulk of the upper class.

Houses on the mainland of Lagos Nigeria

Most houses on the mainland are exclusively occupied by the lower class with the bulk of them being unskilled labour. They are made up primarily of the face-me-I-face-you kind of houses in which the apartments are rooms which could be occupied by families sometimes comprising of as many as 12 members. The lower middle class of the Lagos Nigeria society usually occupy houses with apartments such as self contained, two bedroom flats and three bedroom flats. The few middle class folks would either go for three bedroom flats, bungalows or duplexes. On the mainland rents vary from as little as N 30,000 a year to over N 3,000,000 ($ 200 to $ 20,000)

On the mainland, houses and rents are most expensive in the Ikeja and Surulere. Most of the middle class on the mainland live in places like GRA, G Cappa Estate, Allen Avenue, Toyin Street, Opebi road for Ikeja and Alaka, Adeniran Ogunsanya, Eric Moore among others in Surulere. Generally speaking self contained apartments go for as little as $ 2,000 a year. Other flats especially 3 bedroom flats go for between $ 4,000 and over $ 10,000 per annum. Other places on the mainland where apartments are a bit expensive include Apapa, Ilupeju, Magodo, parts of Yaba, Ajao Estate and Festac.

On the other hand places where the poor and lower class abound offer mainly one room apartments on different floors with a single toilet, kitchen and bathroom serving all the tenants on that floor. Rates go for anything from $ 200 to $ 500 per annum.

Houses on the island of Lagos

With the exception of Epe, Obalende, Idumota and other shanty towns Lagos mainland is the exclusive preserve of the middle class and upper class. Many of the people in this class are expatriates who are in Lagos Nigeria on business or leisure. The options are very attractive but expensive. Luxury apartments can be found in Victoria Island, Ikoyi, Lekki Pennisular and Ajah with rates ranging from $ 4,000 to well over $ 100,000 a year. Some expatriates prefer to lodge in five star Hotels which also offer the same amount of luxury except that they are more expensive.

Places like Adeola Odeku, Akin Adesola, Admiralty way and Victoria Garden city are places on the Victoria Island and Ajah Extension that offer luxury apartments. Ikoyi also has a number of luxury offering apartments in places like banana Island, Park view and foreshore estates. Niger Towers is also another well known luxury apartment building with hundreds of apartments on offer. With a budget of $80,000 you could get yourself a 2 or 3 bed room luxury apartment if you are a high end consumer.

Paul Onwueme is a business reporter and writes about business opportunities in Lagos Nigeria.

To find out more about genuine business opportunities in Lagos Nigeria visit his blog at http://www.lagosbusinesses.blogspot.com. or his other blog at http://www.lagos-nigeria-real-estate.blogspot.com

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