In the past 3 years, Lagos has seen a greater level of adoption of co-living than the past 3 decades combined. The desire for community, socialization, and gross unaffordability that characterize the Lagos property market has played a huge role in forcing young professionals to opt for the shared option. Explore shared apartments for rent – discover 5 places to consider when renting a shared apartment in Lagos.
In our maiden article on the co-living model, we discussed what the emergence of co-living means for the Lagos property market and how developers are responding to it. In this article, we aim to highlight five of the coolest spots that people looking to rent a shared space should consider. We have taken time to analyze several factors, including pricing, amenities, and quality of supply, among others and have used those factors to rank our choices. Before we get started, let us go over some additional background on why the youth of Lagos are choosing co-living. In general, affordability, flexibility and a sense of community have been the major factors driving demand for co-living spaces in Lagos.
The cost of living in Nigeria has increased in recent years, making it difficult for young people to rent their own apartments. Shared apartments are more affordable than renting the entire apartment yourself. This is especially important for young Nigerians who are just starting out and may not have a lot of savings. More and more young Nigerians are working in the gig economy, which means they may have unstable incomes. This can make obtaining a traditional lease difficult.
Read Also: The future of the co-living model in Nigeria
Additionally, shared apartments are often more flexible than traditional rentals. This may be of interest to young Nigerians who are still thinking about their careers and life plans. Lastly, shared apartments can bring a sense of community to young Nigerians who may feel isolated or lonely. Living with others can provide companionship and support. Nigerian youth are increasingly accepting of shared living arrangements. This may be due to the influence of social media and global trends.
Now, let’s dive deeper into the locations. We analyzed the available supply of shared apartments in different locations in Lagos and juxtaposed it with factors like accessibility, affordability and quality of build.
Top 5 Places to Consider When Renting a Shared Apartment
Oniru
Going by our ranking, Oniru ranked first in the list of places to rent a shared apartment in Lagos. A lot of people know Oniru as Victoria Island Extension. It is a middle to high-income residential area in Lagos. Like Victoria Island, Oniru borders the Atlantic Ocean to the south, along with other coves and lagoons, providing lagoon views to most high-rise projects in the area. It extends from the famous Sandfill bus station to the beginning of the Ikate area, on the right side of the Lekki-Epe expressway, providing direct access to Victoria Island, Lekki Phase 1, as well as Ikoyi. The price difference between a 1 bedroom in a shared space and a 1-bedroom apartment in Oniru is more than 107%, based on the data that we gathered. This, alongside Oniru’s proximity to major nubs on the island part of Lagos, makes it the best place to rent a shared apartment in Lagos based on our ranking.
Lekki Phase 1
Lekki Phase 1 is an upscale neighbourhood in the southeast region of Lagos. Just as a lot of people would expect, Lekki Phase 1 ranked second on our list of top places to rent a shared space in Lagos. It lies below the Lagos Lagoon and above the Atlantic Ocean.
Lekki Phase 1 has historically proven to be one of the most desired locations by young professionals and business executives. Based on our analysis, shared spaces in Lekki Phase 1 are 44% cheaper than renting outright.
Ikeja GRA
Ikeja GRA is a residential and commercial centre for wealthy Lagos mainland residents, where many government officials choose to live. In the Ikeja government area, there are many high-end houses, government offices, beautiful 5-star hotels and many places to eat. Ikeja GRA is located in the Ikeja Local Government Area and borders Maryland. It is close to Lagos national and local airports, MMA1 and MMA2.
Check Properties for Rent in Ikeja GRA
Orchid road
Orchid Road is one of the busiest roads, full of real estate activities. It’s one of the longest roads on the Lekki axis. Orchid is opposite the popular housing estate of Lagos billionaire Chief Rasaq Okoya, called Oluwa Ni Nsola Estate. One of the most attractive things about Orchid Road is that it is an emerging real estate district with several new estates emerging. Victoria Crest Estate, Ocean Bay Estate, Southpoint Estate, Buena Vista Estate, Paradise Estate, and Pine Estate are just a few of the developments gracing this location. With new developments coming up in the neighbourhood, prospective renters get to enjoy newer options and better amenities compared to older neighbourhoods.
Osapa
Osapa London came in fifth in our ranking. Osapa is a neighbourhood in Lekki, Lagos, Nigeria, known for its upscale residences, modern amenities and convenient location. It is often popular because of its proximity to key areas such as Victoria Island and Ikoyi, as well as its proximity to shopping malls, schools and entertainment areas.
Surulere
Surulere, located on the mainland, is one of the most vibrant neighbourhoods in Lagos. This area ranked sixth and serves as a link between mainland Lagos and Lagos Island. Many Afro-Brazilians and liberated Cubans known as Agudas or Ceros settled in Surulere to join local settlers from Lagos during the 19th century.
Chevron
Chevron ranked seventh in our research. Chevron Drive, part of Eti-Osa Local Government Area. Apart from being 17 minutes away from Lekki Phase 1, it is also located between Igbo Efon and VGC. The wealthy of Lagos State as well as expatriates living there congregate in this upscale neighborhood.
| Abraham Adesanya | Orchid Road | Surulere | Chevron | Osapa | Lekki Phase 1 | Oniru | Yaba | Ikeja GRA | Gbagada | |
| % difference between Shared Apartments and Studios in Lagos | 90% | 70% | 30% | 60% | 57% | 44% | 107% | 90% | 67% | 25% |
Yaba
Yaba came eighth in our ranking. Yaba is particularly famous for being one of the most vibrant areas of Lagos City. Located on mainland Lagos, Yaba features a booming tech scene, educational institutions and residential areas. Being a central area of Lagos, Yaba is priced slightly lower than its nearest neighbour, Surulere. The area is considered the educational hub of the state and is home to many educational institutions, including the University of Lagos, Yaba College of Technology, and the headquarters of the Western Council of African Examinations (WAEC). Accordingly, it also has several dormitories and residential facilities in its surroundings, such as Jacob Mews Estate, Comfy Burrows and Legacy Urban Apartments. In addition, it is also home to several technology-focused companies, such as Kuda, Andela and Co-creation Hub.
Gbagada
Gbagada ranked ninth in our ranking. Gbagada is a lookout point in Lagos State, located between Kosofe and Shomolu local governments. It is, above all, a residential area. Due to its location and accessibility, it is a gem. Popular areas of Gbagada include Ifako, New Garage and Diya Street, among others.
Abraham Adesanya
Abraham Adesanya is a neighbourhood in Ajah that is located near the Ajah roundabout (as it is located at the 10th roundabout in Lekki). The estate was built by the Lagos State Government as an affordable housing project between 2001 and 2002. It is a residential development with distinct but similar housing designs. The land today serves as bourgeois housing.
The environment has seen a significant influx of people over the past decade as the Lagos population grew. The attractiveness of this neighbourhood has been underpinned by its relative affordability compared to other regions in this article.
These locations are all popular for shared apartments because they are relatively affordable and offer easy access to public transportation, schools, and workplaces. They also have a variety of amenities and attractions, making them great places to live.
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