While rent increased from N169,000 per square metre in 2020 to N176,000 in 2021 in Ikoyi, the increase in Victoria Island was from N175,000 in 2020 to N182,000 per square metre in 2021. Lekki, another island location in the city, recorded a higher rent increase at 6 percent.
Prime office rents in Nigerian big cities recorded a marginal increase in the first quarter of 2021 (Q1 2021), showing that working from home (WFH) triggered by the COVID-19 pandemic failed to reduce the cost of renting such properties.
The rent increased the most on Aba Road, in Port Harcourt; Y
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