EasyScout's mid-year 2026 rental market analysis reveals important trends across Nigeria's three largest rental markets: Lagos, Abuja, and Port Harcourt.

LAGOS MARKET OVERVIEW

Rental prices in Lagos have increased by an average of 18% year-over-year, driven primarily by demand pressure in Lekki Phase 1, Ikeja GRA, and Victoria Island. The supply of new apartments has failed to keep pace with population growth and returning diaspora demand. 1-bedroom self-contained units in Surulere now average ₦650,000–₦900,000/year, up from ₦520,000–₦720,000 in 2025.

High-end 3-bedroom apartments in Lekki Phase 1 have reached ₦4.2M–₦6.5M/year, with penthouse units in Banana Island topping ₦25M/year.

ABUJA MARKET OVERVIEW

Abuja's rental market has remained more stable, with price increases averaging 11% YoY. Demand is strongest in Maitama, Asokoro, and Wuse 2. The FCT government's recent crackdown on illegal structures has reduced supply in some areas, putting upward pressure on prices.

A standard 3-bedroom flat in Gwarinpa now averages ₦1.8M–₦2.5M/year, while premium Maitama properties range from ₦4.5M–₦8M/year.

PORT HARCOURT MARKET OVERVIEW

Port Harcourt's oil-driven rental market has seen moderate growth of 9% YoY. GRA Phase 2 and 3 remain the most sought-after areas, with 3-bedroom flats averaging ₦2.2M–₦3.5M/year.

OUTLOOK FOR H2 2026

EasyScout analysts project continued rental price growth of 8–14% across major markets in H2 2026, driven by persistent inflation, naira pressure, and growing demand from young professionals aged 25–35. Tenants are advised to lock in multi-year agreements now to hedge against future increases.

Landlords should expect higher vacancy rates if prices are not adjusted to reflect stagnant salary growth for the average Nigerian worker.