You can make a lot of money from Airbnb and Shortlet apartments in Lagos, you can also make several mistakes.
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Ikeja GRA, Ikoyi and Victoria Island holds 40% of the Airbnb market in Lagos, the shortlet demand in these places is thriving already and has the highest charge per night.
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The location you buy an apartment in Lagos will determine if it's an existing or emerging market for short stay, which will have a big say in the occupancy rate.
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Epe, Alaro City, Abijo and Sangotedo are all emerging markets for Airbnb. Surulere, Yaba, Magodo are also thriving market, but demand in shortlet here is lower than Ikate and Lekki Phase 1
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Other mistakes you can make are:
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Doing it all alone without a shortlet Manager
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Lack of market backup or alternative for your serviced apartment
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No business plan
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Looking at the returns only without the expenses
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In a nutshell, you can lose a lot of money too if you don't invest rightly and smartly in shortlet apartments, and you got to do your maths before you put your capital down.