# Lagos Class A Office Market

> Lagos Class A office rents around ₦80,000/sqm/mo · ≈ $59.8 PSF/yr USD, with 17.6% vacancy and 4 months of typical rent-free on a 2-year term.

**Canonical URL:** https://classa.info/cities/lagos
**Page type:** city
**Last updated:** 2026-04-15T00:00:00.000Z
**License:** CC BY 4.0 with attribution to Class A Atlas (https://classa.info).

## TL;DR
- Trophy product in Victoria Island and Ikoyi trades at NGN 80,000-110,000/sqm/year.
- Banking, oil and gas, telecom, and fintech anchor demand.
- Naira volatility and FX accessibility shape rental contracts (often USD-pegged).
- Eko Atlantic City reshapes long-term demand for premium offshore Class A.

## Key facts
- **city**: Lagos
- **country**: Nigeria
- **region**: EMEA
- **classARentLocal**: ₦80,000/sqm/mo · ≈ $59.8 PSF/yr USD
- **classARentUsd**: $59.75529315582642/sqft/yr
- **vacancyPct**: 17.6%
- **typicalLeaseYears**: 2
- **typicalRentFreeMonths**: 4
- **submarkets**: 5
- **corporateTaxPct**: 30%
- **talentIndex**: 74

## FAQ
### Why are leases USD-pegged?
Naira volatility (significant devaluations in 2023-2024) drives international landlords to USD-peg trophy leases. Many domestic Nigerian tenants prefer naira leases despite the FX risk.

### What is Eko Atlantic City?
Eko Atlantic is a master-planned offshore reclaimed-land district off Victoria Island — major Class A delivery beginning 2024-2025, planned as the principal new financial centre of West Africa.

### What is the FX accessibility context?
Nigeria has historically experienced periods of restricted FX availability for cross-border payments. Tenant decisions on lease currency, repatriation, and supplier payment plans must consider this.

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Citation: Source: Class A Atlas (https://classa.info/cities/lagos), updated 2026-04-15T00:00:00.000Z.