Short-stay apartments across Lagos recorded sustained demand during the 2025 Detty December festive season, driven largely by diaspora Nigerians returning home for the holidays.
Despite noticeable seasonal price increases, occupancy levels remained strong across key locations, reinforcing the growing role of short-let apartments in Lagos’ hospitality and real estate ecosystem.
Investigations by Naijaonpoint show that apartments in high-demand areas such as Ikoyi, Ikeja, Lekki, Victoria Island, Surulere, and Gbagada experienced near-full occupancy from early December through January, with some bookings extending into February.
The trend highlights the preference of festive visitors for flexible, private, and family-oriented accommodation options over traditional hotels.
While pricing strategies varied among operators, the festive period remained highly profitable, especially for those who balanced rate increases with sustained occupancy.
Short-stay operators interviewed by Naijaonpoint described the 2025 festive season as one of strong returns, underpinned by diaspora demand and extended-length stays.
Ambassador Moyosore Badejo, Chief Operating Officer of Deity Homes Int’l Limited, manages five short-stay apartments across Ikeja, Gbagada, and Lekki Phase 1.
He noted that bookings began building from early December and extended well into late January, with newly opened units already receiving reservations into February.
According to him, diaspora Nigerians constituted the majority of guests, often travelling with family or hosting relatives during the festivities. He explained that pricing discipline was critical to maintaining high occupancy.
“Moderate rate increases of about 40% during the festive season ensured steady bookings. In contrast, extreme hikes — sometimes doubling standard rates — did not always translate to better occupancy,” Badejo told Naijaonpoint.
Other operators reported similar experiences. Michael Obot, who manages two four-bedroom duplexes in Ikeja, said operational realities influenced pricing decisions.
“December is unique. Power supply becomes unreliable, and running generators increases costs. We adjusted rates from N200,000 to N250,000 per night to reflect these realities,” he explained.
Bukola Ekunsola, who manages a one-bedroom apartment in Ikoyi, said her unit increased from N150,000 per night to N250,000 during the festive period, citing heightened demand and cost pressures.
“The festive season always attracts more people. These increases reflect demand and operational realities, not arbitrary pricing,” she said.
Diaspora Nigerians emerged as the dominant customer segment, accounting for the longest stays and highest total spending. Many booked apartments for between 10 days and four weeks, with total accommodation costs often reaching N3 million or more.
Amadi Sunday, a France-based Nigerian, booked a four-bedroom apartment in Ikeja GRA for two weeks, spending approximately N3.5 million. He said the option was significantly cheaper and more convenient than staying in a four-star hotel, especially with extended family visits.
Amadi Sunday, a France-based Nigerian, booked a four-bedroom apartment in Ikeja GRA for two weeks, spending approximately N3.5 million. He said the option was significantly cheaper and more convenient than staying in a four-star hotel, especially with extended family visits.
However, he noted transparency challenges, particularly around additional charges for generator fuel during power outages.
Another diaspora visitor, Azeez Abdulamin, booked a three-bedroom apartment in Lekki for his family from December 15 to 28. He paid N200,000 per night initially and later negotiated a reduced rate of N180,000 per night for the remainder of his stay.
“The flexibility, privacy, and space made short-stays more practical for family gatherings than hotels,” he said.
Domestic travelers also contributed to demand. Chinedu Okeke, visiting from Abuja with his siblings, booked a two-bedroom apartment in Surulere for 10 days, securing a negotiated rate below initial offers from intermediaries.
The 2025 Detty December period also saw an influx of new short-stay apartments, particularly in Ikeja, Lekki, Ikoyi, Surulere, and Victoria Island. This increased supply intensified competition and encouraged operators to adopt more flexible pricing strategies to secure occupancy.
The 2025 Detty December season reinforced the resilience of Lagos’ short-stay market, with diaspora Nigerians remaining the primary demand drivers and domestic travellers providing additional support.
During the 2024 festive season, short-let apartments reportedly contributed about $13 million to Lagos’ festive economy. While official figures for 2025 are yet to be released, sustained occupancy levels suggest comparable revenue outcomes.
With rising supply, evolving pricing strategies, and consistent diaspora inflows, Lagos’ short-stay apartment market is likely to remain a key beneficiary of the city’s festive economy in the years ahead.