Low Income Apartments Lagos Nigeria - Cheap Apartments For Rent And Free Rental Tips

low income apartments lagos nigeria africa

Low income apartments in Lagos Nigeria - This guide provides free tips for leasing or renting cheap apartments in Lagos Nigeria. I have also included a low income apartments for rent directory where anyone can post or find cheap property free.

Let's start with the basic concept of cheap apartments.

Cheap or low priced apartments are for low income earners. As you are aware, there are several types of apartments in Lagos Nigeria. And what is consider low priced apartment is relative to the apartment type you're interested in.

The following types of apartments are popular in Lagos Nigeria:

  • Single room apartments also called tenement house or face me I face you with all rooms using same kitchen and toilet

  • Self contain apartments or one bedroom flat
  • 2 bedroom flat
  • 3 bedroom flat
  • 4 bedroom flat
  • 4 bedroom duplex
  • 5 bedroom duplex

    These types of apartments are available on the mainland and island areas of Lagos Nigeria and in prime locations as well as cheap apartment locations.

    Let's consider an example of a low income apartment for two types of apartments mentioned above.

    Take the case of single room apartments. What is the attraction for single room apartments?

    The key factor here is cost. Single room apartments are the perfect low income apartments in Lagos Nigeria and every else in Nigeria.

  • They are cheap
  • Easy to construct and
  • Provide consistent income stream for the owner and

    What is the price like for single room apartments?

    In the mainland areas of Lagos Nigeria, single room apartments within the city cost about 3,000 Naira per month. That is, 36,000 Naira per year. And since they are low income apartments, a lot of landlords of single room apartments are willing to accept one year rent as opposed to the two year rent charged by landlords in Lagos.

    In the outskirts of Lagos, single room apartments cost between 1,000 to 1,500 Naira per month. And landlords in the outskirts of Lagos Nigeria are often willing to accept 6 months rent instead of the 2 years or 1 year rent accepted in the city areas of Lagos.

    Single room apartments are the perfect cheap apartments! They are the perfect example of income based apartments

  • 1 bedroom flat at Iju . . . 80,000 - 120,000 Naira per annum
  • 1 bedroom flat at Ayobo . . . 24,000 - 48,000 Naira per annum
  • 1 bedroom flat at Ikoyi . . . 500,000 - 800,000 Naira per annum

    Now, let's take a look at the price tag for 3 bedroom apartments and see how low income apartments differ from high income apartments even for the same apartment type.

    See the prices below:

  • 3 bedroom flat at Ayobo Lagos Nigeria . . . 70,000 - 120,000 Naira per annum
  • 3 bedroom flat at Ipaja Lagos Nigeria . . . 120,000 - 200,000 Naira per annum
  • 3 bedroom flat at Ojodu Lagos Nigeria . . . 350,000 to 450,000 Naira per annum
  • 3 bedroom flat at Ikeja Lagos Nigeria . . . 500,000 - 1,200,000 Naira per annum
  • 3 bedroom flat at Lekki 900,000 - 3,500,000 Naira per annum

    Three things come through from the pricing above:

    1. Prices for the same apartment type in the same area (even in the same street) vary depending on the finishing (look and feel) of the particular house

    2. Apartments in the island areas of Lagos tend to be more expensive than the mainland areas of Lagos and

    3. Apartments within an estate tend to be more expensive than apartments outside the estate even though they are all within the same geographical area.

    So, if you are a low income earner looking for low income apartments for rent, you now know where to look.

    Cheap apartments help low income earners manage the small income they have and still have something left to feed their families and settle other bills.

    Nevertheless, this does not mean you should settle for dead cheap apartments that compromise the health of your family because what you save in apartment expenses, you will lose through increase in health care bill.

    Yes, look for low income apartments if you're within that bracket. But search for the best apartment within your budget bracket. You will be better off.

    P.S: Prices discussed here are valid for the time period this article was written. Prices change over time. (Last updated January 28 2011).

    Related:

    Apartment Guide

    Buying A House

    How To Build A House

    How To Sell Your House

    List Low Income Apartments For Rent In Mainland Areas of Lagos Nigeria.
    It's Free!

    Low income apartments are apartments with rental price below 200,000 Naira per annum.

    Have apartments for rent on the mainland in this price category?

    List them here in this mainland apartment for rent directory.

    It's FREE!

    Enter Your Title (e.g. 1 Bedroom Flat For Rent On Olaniyi Road New Oko Oba Abule Egba Lagos Nigeria)

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