# Lagos Class A office rents and incentives

> Headline Class A rent in Lagos is around ₦80,000/sqm/mo · ≈ $59.8 PSF/yr USD, with 4 months of typical rent-free on a 2-year term.

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

## TL;DR
- Headline Class A rent: ₦80,000/sqm/mo · ≈ $59.8 PSF/yr USD.
- Trophy submarket rents (Victoria Island (VI)) push to roughly ₦100,000/sqm/mo · ≈ $74.7 PSF/yr USD.
- Typical concessions on a 2-year deal: 4 months free rent.
- Vacancy stands at 17.6% — market trend is flat.
- Use effective rent (face minus PV of concessions), not headline, to compare deals.

## Key facts
- **city**: Lagos
- **country**: Nigeria
- **region**: EMEA
- **classARentLocal**: ₦80,000/sqm/mo · ≈ $59.8 PSF/yr USD
- **classARentUsd**: $60/sqft/yr
- **vacancy**: 17.6%
- **typicalLeaseYears**: 2
- **typicalRentFreeMonths**: 4
- **submarkets**: 5
- **primeYieldPct**: 9.6%
- **trophyRent**: ₦100,000/sqm/mo · ≈ $74.7 PSF/yr USD
- **primeRent**: ₦60,000/sqm/mo · ≈ $44.8 PSF/yr USD

## FAQ
### What is the average Class A rent in Lagos?
Around ₦80,000/sqm/mo · ≈ $59.8 PSF/yr USD across the broader Class A index. Trophy submarkets like Victoria Island (VI) command 20–40% above that.

### How many months of rent-free are normal in Lagos?
4 months on a 2-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

### Are rents rising or falling in Lagos?
The Lagos Class A market is currently flat. Vacancy is 17.6%, which sets the negotiating context.

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