In Nigeria’s biggest cities, short let apartments are a growingly popular accommodation choice for tourists and those who are transitioning. The expense of living, however, can be one of the worries people have when thinking about short rentals. The expense of living in short-term rentals in Nigeria’s major cities, including Lagos, Abuja, and Port Harcourt, will be thoroughly covered in this blog post.
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1. Costs associated with lodging
When it comes to short lets, lodging is the biggest outlay of money. Variables like location, apartment size, and amenities all affect how much short-term rentals cost. Between 40,000 and 150,000 Naira can be spent each week on a decently located one-bedroom apartment in Lagos. The weekly cost of a similar apartment in Abuja could range from 50,000 to 200,000 Naira. One-bedroom apartments in good locations can cost anywhere from 35,000 to 100,000 Naira per week in Port Harcourt.
2. Utility costs
When calculating the cost of living in short-term rentals, utility costs should also be taken into account. Electricity, water, and internet bills are some of these expenses. In Lagos, monthly electricity costs can be between 20,000 and 40,000 naira while monthly water costs might be between 5,000 and 15,000 naira. Water bills in Abuja can cost between 5,000 and 20,000 Naira per month, while electrical bills can cost between 25,000 and 60,000 Naira per month. In Port Harcourt, monthly electricity costs might be between 15,000 and 35,000 Naira, while monthly water costs can be between 5,000 and 15,000 Naira.
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3. Food expenses
The price of food is a significant additional expense to take into account while renting short-term housing. The price of food varies depending on where you are and what you’re buying in Nigeria’s major cities. A mid-range restaurant lunch might cost around 3,000, whereas a basic meal at a fast-food establishment might cost roughly 1,500. Depending on your dietary preferences, a week’s worth of groceries for someone who prefers to prepare their own meals could cost anywhere from 15,000 to 40,000.
4. Transportation expenses
When living in short-term rentals, transportation expenses are another important thing to think about. Depending on the mode of transportation and the destination, transportation costs change. In Lagos, the price of a one-way bus ticket ranges from 50 to 200 Naira, while the cost of a taxi journey, depending on the distance, may be anywhere between 1,500 and 5,000 Naira. A one-way bus fare in Abuja costs between $100 and $300, whereas a cab ride may cost between $2,000 and $8,000 per person. A one-way bus fare in Port Harcourt costs between $50 and $150, whereas a cab ride may cost between $1,500 and $5,000.
5. Miscellaneous costs
Entertainment, medical care, and personal care are additional expenses to take into account while renting short-term housing. Depending on your interests, the cost of entertainment might range from roughly 2,000 for a movie ticket to around 10,000 per month for a trip to the gym. The price of healthcare also varies according to your demands, however depending on the hospital or clinic, a doctor’s appointment may cost anywhere from 10,000 to 50,000 yen. Personal care charges might also vary, although a trip to the hairdresser may run you about 5,000.
In conclusion, the cost of living in short-term rentals varies depending on location, apartment size, and amenities offered in Nigeria’s major cities. It is crucial to take into account all the elements that determine how much it costs to live, such as housing prices, energy costs, food costs, transportation costs, and other costs. Consider making your reservations in advance, comparing pricing from other short-term rental companies, and bargain with the providers to get the best available deal. Short lets can be an affordable and practical alternative for anyone searching for temporary housing in Nigeria’s major cities with careful preparation and budgeting.
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