For years, renting in Lagos has been seen as the “safer” choice flexible, convenient, and easier to manage than homeownership. But with Lagos rent prices now soaring by over 80% in the past year, that safety net is quickly unraveling.
According to recent market reports, tenants across Lagos are being forced to pay nearly double their previous rents, with some experiencing hikes as high as 103%. In Lagos, the rent trap has tightened dramatically, leaving countless families and tenants squeezed between rising costs and limited housing supply. Many tenants find themselves with impossible choices: pay the higher rent, move to a worse location, or accept informal, substandard options.
Compounding the problem is a severe housing supply shortage. Lagos currently needs hundreds of thousands of new housing units annually to keep up with demand resulting in fewer available homes, higher competition among renters, and landlords who feel empowered to raise Lagos rent prices. Yet, amidst this housing crunch lies an emerging truth: the real estate market is finally tilting in favor of buyers.
When you rent, you’re locked into someone else’s asset, not building your own. Every rental payment is essentially funding your landlord’s investment, not your future. With Lagos rent prices increased acceleration, you might find yourself stuck in a cycle of escalating costs with little control.
Meanwhile, owning your home changes the equation entirely, the timing couldn’t be better for aspiring homeowners.
Developers across the city are increasingly open to flexible payment plans, mortgage collaborations, and discounted prelaunch offers as they look to attract more buyers and exit completed projects quickly.
With the government and major mortgage institutions working to expand access to home financing, first-time buyers now have opportunities that simply didn’t exist five years ago.
Whereas before you needed to make a full upfront payment, today you can own a home with as little as a 10–30% initial deposit, spreading the balance across structured payment timelines.
Another factor working in buyers’ favor is the rising supply of new developments. From Lekki to Ibeju-Lekki, and Ogombo, developers are racing to deliver residential estates that appeal to modern buyers from affordable bungalows and smart duplexes to luxury high-rises.
This surge in supply has created a healthy level of competition, pushing developers to offer more value for money through better pricing, enhanced features, and longer payment windows.
For many, that’s the key difference between renting indefinitely and taking control of their future. You shift from paying a landlord to building equity in yourself. You gain peace of mind, stability, and a hedge against future rental inflation. In a market where rents are climbing so rapidly, ownership is a better financial strategy.
Here is Why Buying Makes Sense Right Now
1. Lock in Today’s Value Before Tomorrow’s Surge
With rents climbing, property values are also moving upward. Investing now allows you to secure a purchase at current rates before values and rental equivalents rise even further.
2. Gain Control Over Your Living Costs
Once you own, your monthly costs become more predictable. While maintenance and property taxes still apply, you won’t face arbitrary 50-plus percent rent hikes year after year.
3. Build an Asset, Not Just a Lease
Buying gives you ownership of an asset that can appreciate, be sold, or yield rental income. It transforms your housing expense into a component of wealth creation.
4. Benefit from Long-Term Market Trends
The imbalance between housing demand and supply in Lagos is not new and it’s not going away. Owning in a verified, high-growth location positions you to benefit from future appreciation and rent-to-own possibilities.
The Geoponts Properties Advantage
At Geoponts Properties Ltd, we help buyers navigate the transition from renting to owning with clarity, confidence, and care. We connect you to verified properties, handle due diligence, negotiate on your behalf, and make sure your investment meets both lifestyle and financial goals.
Whether you’re a first-time buyer or an investor looking to expand your portfolio, we connect you with verified listings, flexible payment plans, and developer-backed mortgage options that make owning property easier than ever.
From prime developments in Ogombo, Ajah, Chevron, and Lekki, to exclusive off-plan opportunities across the city, we ensure your investment is safe, strategic, and positioned for growth.
📍 Visit Us: 781 Somide Odunjinrin Avenue, Omole Phase 2, Ikeja
📞 Call/WhatsApp: 08084410146 || 07063557501
📩 Email: geopontsproperties@gmail.com
🌐 Website: www.geopontsproperties.com
📱 Instagram: @geopontspropertiesltd
