- Landlords in certain areas of Lagos Mainland are expected to further increase rent prices even though it has risen by 71% since the Lekki flood occurred
- As rental prices increase significantly on the Mainland, they are expected to drop noticeably on the Lekki-Ajah axis of the Lagos Island
- Since the flood occurred, most tenants in the Lekki-Ajah axis have stated that they would soon be relocating to the Mainland
Prices of rent in the Lagos Mainland axis have continued to rise significantly, following the devastating flood which ravaged the Lekki-Ajah axis of Lagos Island recently, New Telegraph reports.
Landlords in certain areas such as Anthony, Maryland, Obanikoro, Yaba and Surulere, have reportedly increased their rent prices by up to 71 percent.
And according to estate agents, Lagos Mainland landlords may soon increase the rents further.
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For example, the cost of renting a three bedroom flat in Adeniran Ogunsanya, Surulere, has increased to N1.2 million, from N700,000, market statistics show.
In Ogudu, to rent a four-bedroom flat, prospective tenants would now be prepared to part with N1.2 million.
Before the flood occurred, rental prices in Lekki had been on the rise.
But since the occurrence of the disastrous incident, there is a consensus among experts that demand for houses in that location will drastically reduce, causing rental prices to drop significantly.
Since the flood occurred, most tenants in the Lekki axis have also stated that they would soon be relocating to the Mainland.
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Meanwhile, NAIJ.com earlier reported that the National Orientation Agency (NOA) has warned residents of flood prone areas to quickly evacuate to avoid danger as environmental experts predict intense flooding across Nigeria this year.
In a statement by the head of its Press Unit Paul Odenyi, the agency emphasized that the Nigerian Meteorological Agency (NIMET) and Nigeria Hydrological Services Agency (NIHSA) in their rainfall prediction and flood outlook for 2017 had listed local council areas in almost all the states of the federation as likely to be affected by flooding this year.
Watch this NAIJ.com TV video about the Lekki flood