NO RESTING PLACE FOR SINGLES

Abstract:

The real estate market has typically been slow to react to the changes in the environment.  One of the glaring examples of this is the scarcity of purpose built accommodation for the fast-growing single working population in the city centres. Whether due to religion, exposure to modern values, lack of marriageable men and women or even in the extreme case of homosexuality, the number of singles living alone has risen sharply.

Along with the rise in numbers is the demand for single accommodation like self-contained rooms, mini-flats and one-bedroom flats. In the request box of our website, request for some properties are by far the highest we receive on a daily basis. To assist the singles, we have published below a guide on how much rents are being charged for some properties in various areas in Lagos State.

This can also be a guide for developers and landlords who may be thinking of catering for this large and increasing group of accommodation seekers.

Mainland

N50, 000-150, 000 (Per annum)
Properties you can get in this price range include self-contained rooms and mini-flats depending on the location. A self-contained room can be gotten in areas like Yaba, Surulere, Fadeyi, Ketu, Ogba GRA, Shomolu and Magodo. For mini-flats for this price range you have to move further ahead to areas like Ojota, Ikorodu, Agege, Mowe-Ibafo, Meiran (after Abule Egba), Abule Egba, Iyana-Ipaja and Olodi-Apapa.

The trend here is that with N100, 000 and above you would get a mini-flat in those locations that are not necessarily considered premium. While in places that are considered city centres like Yaba, Surulere and Ogba GRA, the most you can get for this price range are self-contained rooms. 

N160, 000-N250, 000 (Per annum)
In this price range it was discovered that mini-flats could be gotten in locations that were not upscale so to say but these are locations that can be considered as commercially vibrant. Some of these locations would also afford you easy access to the Island. Places you can find mini-flats for this price range include: Fagba, Agege, Surulere (Kilo, Aguda, Obele), Orile-Iganmu, Ojota, Isheri -Ketu, Ikosi-Ketu and Ogba.

Getting a room in this price range is rather difficult but in Awuse a gated estate in Opebi, rooms are available to let. This is a gated estate that has mostly detached and semi-detached houses. So it would appear that a property conversion has been done or this is a boys’ quarter.

N260, 000-N350, 000 (Per annum)
For this price range, one can get mini-flats in the relatively upscale location of Ikeja, Ebute-Metta, Magodo (GRA/Shangisha), Maryland , Fadeyi, Gbagada, Adeniyi Jones, and other parts of Ogudu apart from the GRA like Alapere. In Adeniyi Jones, mini-flats are available for let in Adekunle Village, an estate that can be considered middle class.  In other parts of Adeniyi Jones however, you can still get mini-flats but mostly at a higher rental rate.

N360, 000-N500, 000 (Per annum)
Surprise, surprise. Singles are ready to pay up to this amount for mini-flats but they must be well done up in central locations. Mini flats for this price range can be gotten in areas like Opebi, Ojodu, Oregun, Omole Phase 1 and 11, Surulere (Bode Thomas, Adeniran Ogunsanya, Abayomi), Ogudu GRA and Anthony.

In Ogudu GRA, mini flats are available in this price range because charges for services like fumigation, refuge disposal, security and PHCN bills have been included in the rental price.  

There is the interesting case of mini-flats in Anthony Village for an annual rent of between N600, 000 - N800, 000m. The mini-flats going for this rate were in serviced estates around Adebayo Makuolu Street, a hop, step and jump away to the Gbagada Expressway and Ikorodu Road.

Executive singles accommodation on the Island
As with all accommodation on the Island, singles accommodation does not come cheap. The lowest we found was for a self-contained room in Oniru for N400, 000.

Area	Description	Rent p/a	Realtors Contact
Lekki, Christ Avenue	Mini-flat (serviced)	N1m	Demand Properties & Inv Ltd08123290100
Oniru, Lekki	1bedroom flat	N1.5m	Greg Usiholo & Co: 08067413196
Oniru, Fatai Arobieke Str	1 bedroom studio flat (serviced)	N800,000	E.O Realtors 08033047772
Oniru Estate	Mini-flat	N600, 000	Base 3 Properties: 08038226645
Oniru Estate	Self-contained	N400,000	Base 3 Properties: 08038226645
Lekki Phase 1	Mini-flat	N1.2m	Lazer Limited: 08033788689, Sumbo Onitiri & Co: 08029467674.
VGC	1 room self-contained	N500, 000	Stanley Peters Properties: 08032014442
Dolphin, Ikoyi	Mini-flat	N800,000	Ariwayo Group Nig Ltd: 08174604142
Lalupon Str, Ikoyi	1 bedroom flat	N1m	Akinsuyi Estate Consultant: 08055113850
1004 Estates	1 bedroom flat	N2m	Joe Etoniru & Ass: 07038480838
Bishop Oluwole Str, VI	1 bedroom flat	N700, 000	M.I Realtors 08034017927
Muri Okunola Str, VI	Mini-flat	N600, 000	M.I Realtors 08034017927
Bourdillon, Ikoyi	Mini-flat	N1.5 m	Akinsuyi Estate Consultant: 08055113850
Abacha Estate, Ikoyi	1 bedroom chalet with AC, courtyard	N1.7m	Country Home Real Estate: 08033963999

SURVEY OF RENTAL PROPERTY SUPPLY

The survey covered advertised flats in Castles from October 21 to Nov 10, 2012 and the results showed that only 28 rooms (2 %) were advertised out of a total of 1, 492 flats with mini-flat coming at 6 % (86). Developers seem restricted to the 3 bedroom flat accounting for half of the figures recorded.

 

Self-contained rooms (SF) -28
Mini-flats (MNF)-86
2 bedroom flats (2BF)-255
3 bedroom flats (3BF)-726
4 bedroom flats (4BF)-397

Demand survey for singles in Lagos
From our survey, all female single respondents said they preferred mini-flats but due to its dearth in the market they have settled for other property type. The few single male respondents who preferred 2 bedroom flats said they did so because they would soon be getting married. Some said they would ordinarily have preferred a mini-flat but due to non-availability they presently share 2 and 3 bedroom flats with other friends. The choice of location ranged due to proximity to work, centrality and price.