Behind Shorlet & Airbnb Demand In Lagos: 7 Factors Driving Demand

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On average, shortlet per day in Lagos is 50k per day, that's 1.5m a month, yet the number of shortlet bookings is rising weekly. So, what's driving the Lagos shortlet market.
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1 - Nigerians Abroad
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Rise in Japa in Nigeria is a growth factor for shortlet and airbnb apartments in Lagos. Whenever diaspora Nigerians return to visit for parties or holidays, they prefer to book apartments, regardless of the daily rate.
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Based on reports, shortlet bookings peak in Ikeja, VI, Ikoyi and Lekki phase 1, which are preferred neighbourhoods of Nigerians abroad.
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Despite Japa being a brain drain to Nigeria, it's a valuable source of holiday visits and ember months surge in shortlet in Lagos.
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2 - Parties and events
Nigerians love parties, from birthdays, weddings to even burials, some Lagos parties last for days.
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Therefore, when parties are a regular thing, some which require travelling to other states, people naturally look for a safe place closest to the party to book for short stay.
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Regardless of the economic situation in Nigeria, Nigerians will still party. If your serviced apartment is anywhere nearby to popular Lagos party spot, you will regularly receive bookings.
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3 - Festival and holidays
Presently, there are 4 popular religious festivals in Nigeria and countless holidays. In addition, half the month of December is regarded as a holiday.
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Commonly, during these festivals, Nigerians travel to their hometowns or simply find nice places to chill and relax away from work.
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Although, a 50k per night shortlet apartment in Lagos can seem expensive, but most Nigerians save pretty well to have a blast festival season, go broke, resume work and start saving for the next festival again
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Furthermore, watch the entire video for the full 7 factors driving the Lagos shortlet. You can position around any of these to increase your airbnb bookings in Lagos and increase revenue