Lagos

As of June 2026, Lagos, Lekki, Victoria Island have 3,314 active Airbnb and VRBO listings. This represents a 4% increase from the previous year.

The average Airbnb or VRBO in Lagos generates NGN6.0M per year. High-performing properties earn NGN29.3M/year, while low-performing properties earn NGN1.7M/year. This massive disparity suggests that the market is highly segmented, where top-tier assets capture the bulk of demand despite a wider 13% occupancy baseline.

Airbnb and VRBO can be profitable in Lagos. Average annual revenue is NGN6.0M with 13% occupancy. High-performing properties earn up to NGN29.3M/year. The revenue gap implies that while base-level performance is strained by current market conditions, specific segments remain capable of outsized returns.

The average occupancy rate for Airbnbs and VRBOs in Lagos is 13%. This occupancy level, combined with an average nightly rate of NGN145K, results in a RevPAR (revenue per available room) of NGN14K per day.

4+ bedroom properties demonstrate the strongest performance in Lagos, with annual revenue of NGN9.6M. These properties balance operating costs and rental demand most effectively in the Lagos market. Property performance varies significantly by location, amenities, and management quality.

Short-term rental regulations vary by jurisdiction in the Lagos area. Lagos: Lenient. No formal STR regulations or licensing system. Operates in regulatory gray area. Minimal government oversight or enforcement. Lekki: Lenient. Part of Lagos, same lack of formal STR framework. No permits required. Hotels/guesthouses need tourism board registration but rarely enforced for STRs. Victoria Island: Lenient. Also under Lagos jurisdiction. No specific STR rules or licensing. High-end market operates informally. Minimal enforcement despite commercial activity. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The Lagos Airbnb and VRBO market is currently showing balanced conditions. Supply has grown 4% year-over-year, while RevPAR has decreased 24%. This indicates balanced supply-demand dynamics. This compression in revenue per available room amidst rising supply signals a softening market where inventory growth is outpacing current demand absorption.

Launch around September, 2-3 months before peak winter season (December peaks). This pre-peak timing lets you build reviews when competition is 54% lower than peak months. Avoid launching during peak season when established listings dominate, or slow months (May-March) when gaining traction is harder.

The most common amenities in Lagos listings include: Air Conditioning (100%), Kitchen (99%), Tv (99%), Washing Machine (90%), Balcony (44%). Amenities that boost revenue the most include Hot Tub, Washing Machine, Pool, with Hot Tub properties earning approximately 70% more (NGN36.2M/year vs NGN21.2M/year).

Monthly estimated revenue per listing in Lagos over the last 12 months: May: NGN362K, June: NGN386K, July: NGN410K, August: NGN455K, September: NGN385K, October: NGN381K, November: NGN404K, December: NGN777K, January: NGN532K, February: NGN301K, March: NGN307K, April: NGN440K. These figures are based on RevPAR (revenue per available room) multiplied by the number of days in each month.

The overall average nightly rate in Lagos is NGN145K, up 19% year-over-year. By property size: 1-bedroom properties average NGN89K/night, 2-bedroom properties average NGN139K/night, 3-bedroom properties average NGN198K/night, 4+ bedroom properties average NGN395K/night. Rates peak in December and are lowest in March.

Guests in Lagos book an average of 17 days in advance, down 25% from last year. By property size: 1-bedroom: 14 days, 2-bedroom: 18 days, 3-bedroom: 20 days, 4+ bedroom: 23 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the Lagos Airbnb and VRBO market has seen the following changes: supply grew 4%, revenue per listing decreased 24%, occupancy fell 20%, average nightly rates increased 19%, and lead time decreased 25%. These metrics reveal a shift toward shorter booking windows and higher price sensitivity, indicating a more reactive, volatile booking environment.

In Lagos, Friday sees the highest booking demand while Monday has the lowest. Nightly rates peak on Friday and are lowest on Monday. Weekends show 8% higher occupancy than weekdays.