SHOTLET LET BUSINESS IN LAGOS, NIGERIA

The Lagos short-let market has grown by 263% over the past 3 years. Ikoyi, Victoria Island, Lekki Phase 1, Oniru and Ikeja have emerged as the top short let hubs in Lagos, with an occupancy level of 60% to 80% year round. This growth was mainly underpinned by rising demand for both long-stay and short-stay apartments in the wake of the pandemic according to Estate Intel. Findings revealed that short-term rental landlords could make upwards of 20% more than they would on a property rented annually.

This document provides details on the operational plan for the Short-let accommodation, its revenue and cost drivers and projected investment payback period. Investors can expect to get back their return on investment in 5 to 7 years compared to 20 years for long term rentals and then experience year to year profit after each consecutive year. Therefore investing in the Glass Vine will be a wise and strategic business investment with even more significant potential in the years to come.