Due to many factors that ranges from commercial; educational and particularly, the locality’s easy access to other parts of the Lagos metropolis, the Jibowu/Yaba/Ebute Metta axis of Lagos will forever remain a hot hub as far as the property market in Lagos State is concerned.
Expectedly, property seekers are attracted to the axis because of all the convenient trappings it has got to offer. These factors on the other side, has pushed up the rent paid for accommodation, and subsequently, forced prospective tenants who will like to secure apartments in the neighbourhood look elsewhere for their housing needs.
propertysearch.com.ng takes a look at the types of apartments prospective tenants can secure with a budget ranged between N150k and N350k naira in these areas.
The Jibowu area comprises of Fadeyi, Yaba Tech, Underbridge and Empire. Apartments in this area are not usually easy to come by, given the huge students population that are always competing amongst themselves to secure ‘hostels’ as some of these accommodations are called. Depending on whether the building is new or old, and the type of facilities found within and around such apartments, self-contain apartments go between 150k to 180k per annum. A mini-flat/studio apartment ranges between N200k to N250k per annum, while a 2-bedroom flat can cost up to 500k in this area, but with a careful search, one can be lucky to get a decent flat for N350k per annum.
Spencer, Sabo, Alagomeji, Onike, Iwaya, Univeristy Road, and Montgomery are all considered part of Yaba. Like Jibowu and indeed any other area in this environs, property in the listed areas are keenly seek too, and a bit on the high side. However, investigations revealed that with a budget of N200k per annum, one can get a decent self-contained apartment in these places. Mini-flats/studio apartments ranges from N250k to N300k. Although not exactly within the price range, it is somehow possible through careful search, to secure 2-bedroom apartments in these places for N350k.
- Ebute Meta
Ebute Meta is divided into Ebute Meta East and Ebute Meta West, although the Adekunle end of the locality is sometimes considered part of the area. Now that the old buildings around Abeokuta; Odunfa, Ibadan, Kano, Glover and Lagos streets are giving way to new buildings housing modern apartments, rent in this neighbourhood is gradually shooting up. 1-room self-contained apartment with its private facilities such as kitchen, toilet, and sometimes parking space goes between N150k to N200k. Mini-flats/studio apartment can be secured between N250k to N300k, and with some bit of luck and careful search, 2-bedroom flat can be rented between N300K and N350k.
It is worthy to mention that in the Jibowu/Yaba/Ebute Metta axis, rent is often calculated per number of rooms in the apartment, and charged in excess of two years and above.
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