The Cost of Living in a Service Apartment in Nigeria: An Analysis
Service apartments have gained popularity in Nigeria in recent years, especially among expats and tourists looking for short-term accommodation. A service apartment is a fully furnished apartment that comes with additional amenities such as housekeeping, laundry services, and security. While service apartments offer convenience and comfort, they can be expensive, and the cost of living in one is often a major concern for those considering this option.
The cost of living in a service apartment in Nigeria is generally higher than that of traditional residential accommodation. This is due to several factors, including location, size, and amenities. Service apartments are often located in prime areas of the city, close to business centres and tourist attractions. This prime location comes at a premium, as rental prices are generally higher in these areas. Additionally, service apartments are typically larger than traditional residential accommodation, with more square footage and additional bedrooms. The increased size and additional amenities result in a higher rental cost.
Location Matters
The cost of living in a service apartment in Nigeria varies greatly depending on the location. Lagos, the commercial capital of Nigeria, is the most expensive city to live in. The average cost of living in a service apartment in Lagos ranges from NGN 10,000 to NGN 50,000 per day, depending on the location and the amenities offered. Abuja, the political capital, is the second most expensive city in Nigeria, with the average cost of living in a service apartment ranging from NGN 7,500 to NGN 35,000 per day.
Other cities in Nigeria, such as Port Harcourt and Calabar, are generally cheaper, with the average cost of living in a service apartment ranging from NGN 5,000 to NGN 25,000 per day. It’s worth noting that the cost of living in a service apartment can also vary within a city. For example, a service apartment in the affluent Victoria Island area of Lagos can cost twice as much as a similar apartment in the less affluent Ajah area.
Size of Apartment
The size of the apartment is also a significant factor that affects the cost of living in a service apartment. The larger the apartment, the higher the cost. Most service apartments in Nigeria come in studio, one-bedroom, two-bedroom, and three-bedroom sizes. A studio apartment in a service apartment can cost as low as NGN 5,000 per day, while a three-bedroom apartment can cost as much as NGN 100,000 per day.
Amenities Offered
The amenities offered by a service apartment also affect the cost of living. Most service apartments in Nigeria offer basic amenities such as air conditioning, cable TV, and Wi-Fi. However, some service apartments offer additional amenities such as a swimming pool, gym, and restaurant. The more amenities a service apartment offers, the higher the cost of living.
Length of Stay
The length of stay also affects the cost of living in a service apartment. Most service apartments in Nigeria offer discounts for long-term stays. A long-term stay is usually considered to be 30 days or more. The discount can range from 5% to 20% depending on the length of stay. Therefore, if you are planning to stay in a service apartment for an extended period, it’s worth negotiating with the management for a discount.
Miscellaneous Costs
Aside from the cost of renting a service apartment, there are other costs to consider. For example, most service apartments in Nigeria require a security deposit before check-in. The security deposit can range from NGN 50,000 to NGN 100,000, depending on the size of the apartment and the length of stay. The security deposit is usually refundable, provided there is no damage to the apartment.
Another additional cost to consider is the cost of meals. While most service apartments in Nigeria offer a kitchenette, some people prefer to eat out. Eating out in Nigeria can be relatively expensive, and this cost can add up quickly, especially if you eat out frequently.
It can however be deduced that the cost of living in a service apartment in Nigeria can be expensive, but it offers convenience and comfort. The cost varies depending on the location, size of the apartment, amenities offered, length of stay, and additional costs. It’s important to make flexible plans and note these factors when considering service apartments in Nigeria.
BENEFITS OF SERVICE APARTMENTS IN NIGERIA
The advantages of service apartment are not exhaustive as they go ahead as a flexible solutions to travellers and tourists hospitality needs. Some of these enormous benefits are broken down as follows:
Notably, service apartments offer a level of privacy that is difficult to match in other accommodation options. This is because service apartments are fully furnished and equipped with all the necessary amenities, making them a home away from home. Guests can enjoy their stay without any interruptions, and they can choose to cook their own meals, entertain guests, and even work from the comfort of their own apartment.
Similarly, service apartments offer a lot more space than traditional accommodation options. They are typically larger than hotel rooms, and many have separate living and sleeping areas. This is particularly advantageous for families or groups of friends who want to stay together in one place. Additionally, service apartments are usually equipped with a range of appliances such as washing machines, dryers, and dishwashers, making them an ideal option for longer stays. In the same vein, service apartments offer greater flexibility than other accommodation options. They are available for short-term and long-term stays, and guests can choose to stay for as little or as long as they want. This makes them a popular option for business travellers who are uncertain about the length of their stay. Moreover, service apartments offer more flexibility in terms of cancellation policies, and guests can cancel or modify their bookings with ease.
Also, service apartments are often located in prime and central locations, making them an ideal option for those who want to be close to the heart of the action. This is particularly advantageous for business travellers who need to be in the city centre or near important business hubs. While being in secure buildings, providing an added layer of safety and security for guests.
Furthermore, service apartments are more cost-effective than other accommodation options. They offer a lot more space and amenities than hotels or guesthouses, making them a better value for money. Moreover, guests can save money by cooking their own meals, doing their own laundry, and enjoying other in-house facilities alongside several range of services that can make guests’ stay more comfortable and convenient. These services include daily or weekly housekeeping, 24/7 security, maintenance support, and concierge services. This means that guests can enjoy the benefits of hotel-like services without having to pay hotel prices.
As service apartments becomes an ideal option for those who want to live like a local, guests can choose to stay in apartments located in residential areas, allowing them to experience the local culture and lifestyle. This is particularly advantageous for expats who are moving to Nigeria for work or study and want to get a taste of the local way of life.
Without doubt, service apartments offer a lot of convenience and ease of access. Guests can easily book a service apartment online. Most service apartments offer mobile check-in options, allowing guests to check in and out with ease. Additionally, service apartments are often equipped with a range of facilities such as gyms, swimming pools, and spa services, providing guests with a range of amenities at their fingertips.
The cost of service apartments in Nigeria can hence be closely tied to the level of privacy, space, flexibility, central location, cost-effectiveness, services, local experience, and convenience that it affords. If you are planning to visit Nigeria for work or leisure, Raa n Realtors service apartment is the ideal accommodation option for you. At Raa n Realtors, your comfort, convenience and hospitality are at the fore. Visit www.raanrealtors.com for enquiries.
Article written by:
Olisa Nnodim
+2348101090797