📞 0908 008 8779 WhatsApp
For Rent · Victoria Island

Property for Rent in Victoria Island

Apartments, duplexes, maisonettes, serviced units and commercial space. Oniru · VI Central · 1004 Estate · Ajose Adeogun · Adeola Odeku. Available now. Inspections arranged within 48 hours.

✓ Verified listings only 2-bed avg: ₦15M 5-yr rent CAGR: 33.5%

Tell us what you're looking for

Describe your requirement and we'll come back with matched options — usually within one business hour.

No spam. No reCAPTCHA. We reply within 1 business hour.

Prefer to call? 0908 008 8779

Verified listings only Office: 26b Abike Sulaiman St, Lekki Phase 1 Inspections within 48 hours Mon–Sat, 8am–6pm

Current rental price bands in Victoria Island

Guide rents based on verified listings and the Lagos Island Residential Market Report 2026. Average annual rent for a 2-bedroom apartment in Victoria Island is ₦15 million — up 128.31% from ₦6.57 million in 2022. VI recorded a five-year rent CAGR of 33.5%, the second-highest among Lagos Island submarkets.

Property typeTypical sizeAnnual rent
Studio / self-contained (serviced)40 – 60 sqm₦6M – ₦10M
1-bedroom apartment / mini flat (VI Central)60 – 90 sqm₦8M – ₦9M
1-bedroom apartment / mini flat (Oniru)60 – 90 sqm₦6M – ₦8M
1-bedroom apartment (serviced, furnished)70 – 100 sqm₦15M – ₦30M
2-bedroom apartment (VI Central)110 – 160 sqm₦10M – ₦25M
2-bedroom apartment (Oniru)110 – 160 sqm₦15M – ₦18M
3-bedroom apartment (Oniru)160 – 220 sqm₦20M – ₦30M
3-bedroom apartment / maisonette (VI Central)180 – 280 sqm₦25M – ₦45M
4-bedroom apartment / penthouse260 – 420 sqm₦30M – ₦80M
Terraced duplex (1004 Estate)200 – 300 sqm₦8M – ₦15M
Office space (Grade A, per sqm/annum)—₦120k – ₦450k

Victoria Island sub-locations we cover

Victoria Island has distinct rental micro-markets. Oniru leads with the deepest residential stock and 89.1% of VI search volume. VI Central anchors the commercial corridor. 1004 Estate offers established estate living.

Oniru

The deepest residential micro-market in VI. Beach access, gated estates, strong rental demand. 1-bed from ₦6M. 2-bed avg ₦18M. 3-bed from ₦20M. 4-bed penthouse at ₦30M.

VI Central

The commercial and mixed-use core. Office, retail and residential density. 1-bed from ₦8M. 2-bed from ₦10M. 3-bed from ₦25M. Strong corporate tenant demand.

1004 Estate

Established, well-managed gated estate. Terraced duplexes from ₦8M–₦15M. Serviced short-lets from ₦35,000–₦140,000/night. Popular with corporate tenants and diaspora.

Ajose Adeogun

Premium address with proximity to the business district. Short-let average ₦245,000/night. 1-bed from ₦165,000/night. Strong corporate and expatriate demand.

Adeola Odeku / Akin Adesola

The prime commercial corridor anchoring the luxury market. Ground-floor retail, offices and residential above. High-rise development potential. Strong serviced apartment demand.

Ozumba Mbadiwe & Waterfront

High-end waterfront frontage. Penthouses and luxury apartments with lagoon views. Short-let premium and expatriate demand. Rents at the top of the VI range.

Why rent in Victoria Island

  • Second-highest rent growth on Lagos Island. Victoria Island recorded a five-year rent CAGR of 33.5% — behind only Lekki Phase 1 at 35.9%, and ahead of Ikate at 29.6% and Ikoyi at 22.6%.
  • Rents more than doubled in four years. Average annual rent for a 2-bedroom apartment reached ₦15 million in 2026, up from ₦6.57 million in 2022 — a 128.31% increase. 3-bedroom units rent for ₦25M.
  • Strong rental yields. VI delivers 4.59% gross yield overall. 2-bedroom flats show 5.9% gross and 4.1% net — significantly higher than Ikoyi's 3.09%. Oniru delivers 4.88% gross yield.
  • Corporate and expatriate demand. VI is Lagos' business core. Multinationals, banks and diplomatic missions place staff here. Corporate lets sign longer leases and carry lower default risk than individual tenants.
  • Short-let yields. VI short-lets deliver 24–30% net yields with 85–95% occupancy. Short-let rates range from ₦35,000 to ₦320,000 per night. Furnished 2–3 bed units dominate demand.
  • Walkability and lifestyle. Restaurants, hotels, banks, offices, gyms and retail within walking distance. A neighbourhood that functions as a community and a business district simultaneously.

How renting through us works

Send your brief

Name, WhatsApp, requirement and budget. One minute on your phone.

We match

We send verified VI listings that fit your brief — with rents, not "DM for price".

Inspect

We arrange and attend the inspection with you. No upfront inspection fee.

Offer & keys

We present your offer, coordinate the tenancy agreement, and hand over keys.

Frequently asked questions

What is the average rent for a 2-bedroom apartment in Victoria Island?
Average annual rent for a 2-bedroom apartment in Victoria Island is ₦15 million in 2026, up from ₦6.57 million in 2022 — a 128.31% increase over four years. Victoria Island recorded a five-year rent CAGR of 33.5%, second only to Lekki Phase 1 at 35.9%. Rents for 2-bedroom flats range from ₦10 million to ₦25 million depending on sub-location, finishing and whether the unit is serviced. In Oniru, the average 2-bedroom rent is ₦18 million.
How much is rent for a 1-bedroom apartment in Victoria Island?
Average annual rent for a 1-bedroom apartment in Victoria Island is ₦9 million. In Oniru, the average is ₦8 million. Entry-level mini flats (room and parlour) start at ₦6 million in Oniru and ₦8 million in VI Central. Fully furnished serviced 1-bedroom units in Oniru with sea views and housekeeping are listed at ₦19 million per annum. Brand new luxury 1-bedroom smart apartments in VI Central are listed at ₦30 million.
What is the rental yield in Victoria Island?
Victoria Island delivers 4.59% gross rental yield overall, according to Stears data — ahead of Ikoyi at 3.09% but behind Oniru at 4.88% and Lekki Phase 1 at 3.95%. 2-bedroom flats in Victoria Island show 5.9% gross yield and 4.1% net yield. Short-lets in VI deliver 24–30% net yields with 85–95% occupancy. Capital appreciation for luxury segments is expected at 5–10%.
Do you offer short-lets in Victoria Island?
Yes. Short-let rates in Victoria Island range from ₦35,000 to ₦320,000 per night. Serviced short-lets in 1004 Estate range from ₦35,000 to ₦140,000 per day for studio to 3-bedroom maisonettes. Short-lets on Ajose Adeogun Street average ₦245,000 per night. A 2-bedroom furnished short-let in Oniru is listed at ₦220,000 per day. Minimum stays are typically 2–3 nights.
What service charges apply on Victoria Island rentals?
Service charges vary by estate and facilities. A 1-bedroom mini flat in Oniru carries a service charge of ₦1.3M–₦2M per annum. A 2-bedroom luxury apartment in Oniru carries ₦1M–₦2.5M per annum. A 4-bedroom penthouse in Oniru carries ₦1.5M per annum. Diesel deposits of ₦1M–₦2.5M and caution deposits of 5–10% of annual rent are also standard. All service charges typically exclude power and diesel costs.
Which area of Victoria Island is best for renters?
Oniru leads with the deepest residential rental stock, beach access and gated estates — it accounts for the majority of VI rental supply. Ajose Adeogun is premium with proximity to the business district and short-let demand. 1004 Estate offers value with terraced duplexes and established estate management. Adeola Odeku and Akin Adesola anchor the commercial corridor. Ozumba Mbadiwe and the waterfront offer high-end lagoon views and expatriate demand. Each has its own rental price band and lifestyle character.
What agency and legal fees apply on a Victoria Island rental?
Agency fee is 10% of annual rent per LASRERA cap. Legal fee is 10% of annual rent. A caution deposit of 5–10% of annual rent is also standard. All fees are disclosed in writing before you inspect. You will never be asked for an upfront inspection fee.

Looking for something specific in Victoria Island?

Send us your brief on WhatsApp. We'll come back with verified VI rentals and rents within one business hour.

Chat on WhatsApp 📞 0908 008 8779
Call WhatsApp