Gbagada-Yaba logs 231 active short-let apartments

A recent report by Oikus, a real estate intelligence platform, has stated that with 231 active short-let listings and a median nightly rate of N75,000 in the Gbagada-Yaba axis, the sector is small but financially compelling.

The firm disclosed this in its recent report tagged ‘Gbagada-Yaba Market Analysis’, obtained by The PUNCH on Tuesday.

The report explained that a one-bedroom short-let at N60,000 per night, running at 60 per cent occupancy, generates N13.1m annually, while the same unit on a standard lease generates N2m.

“With 231 active short-let listings and a median nightly rate of N75,000, the segment is small but financially compelling. A one-bedroom short-let at N60,000/night, running at 60 per cent occupancy, generates N13.1m annually, while the same unit on a standard lease generates N2m annually.

This 6.5× yield premium makes short-letting the highest return on investment channel for landlords and property managers operating in this corridor,” the report said.

While reiterating that an analysis of 3,255 active property listings within the axis reveals a market defined by strong mid-range rental demand, it is added that there is a concentrated sales tier between N140m and N300m and an emerging short-let segment offering yields several multiples above standard rentals.

According to the report, the rental market in the axis is tightly clustered, stressing that 75 per cent of rentals sit between N1.7m and N4.5m annually, offering landlords and agents reliable pricing benchmarks.

It stressed that the sales market shows more variance, “but 74 per cent of sale properties fall in the N100m–N500m band, a well-defined mid-premium segment.”

“One-bedroom flats account for 46 per cent of all rental listings; this is the corridor’s true volume engine. Any strategy targeting listing acquisition should lead with one-bed and two-bed flats in Akoka, Soluyi, and Ifako Gbagada, where supply is concentrated and turnover is high,” it stressed.

Oikus, in the report, highlighted that due to the fact that the corridor houses schools like the University of Lagos and Yaba College of Technology, rental listings command the largest share at 56 per cent.

The report emphasised that for agents and investors active in this corridor, the data points to both immediate volume opportunity and a credible path to premium positioning.

Beyond pricing, the report provides neighbourhood-level intelligence, showing Gbagada as the premium hub while Yaba absorbs high-volume demand.

Oikus positions this report as part of its broader vision to transform fragmented property listings into structured, data-driven insights that enable smarter decisions for investors, agents, and developers. Oikus is a real estate intelligence platform that powers verified property discovery, faster workflows, secure transactions, and data-driven decision-making for house hunters and agents.