Serviced apartments are emerging as one of the most attractive segments of Africa’s luxury real estate market as investors seek stable returns and long-term demand. Once viewed mainly as accommodation for business travelers, these upscale units are now drawing attention from high-net-worth individuals, corporate clients, and diaspora investors.
In cities like Lagos, Nairobi, and Johannesburg, the sector is expanding quickly due to rising mobility, remote work trends, and the growth of multinational companies operating across the continent. Prime locations such as Victoria Island, Sandton, and Westlands are seeing increased development activity from operators offering hotel-level services combined with residential comfort.
“Serviced apartments offer a balance of flexibility, privacy, and luxury that today’s traveler values,” said real estate consultant Benjamin Okeke. “Investors appreciate the steady occupancy rates and predictable income.”
Unlike traditional residential rentals, serviced apartments benefit from a diversified tenant base, including expatriates, corporate teams, and short-term luxury visitors. This diversity contributes to resilience, even during economic fluctuations.
Developers are responding by offering furnished units with concierge services, in-house dining, fitness centers, and security infrastructure that matches premium hotels. Diaspora investors are increasingly purchasing these units as passive income assets, seeing them as lower-risk entries into Africa’s growing property market.
As demand continues to rise, serviced apartments are positioning themselves as a reliable and profitable niche within Africa’s luxury real estate landscape.
