Every December, Nigeria experiences a surge of visitors, events, and festivities known as Detty December. While concerts, weddings, and beach parties dominate headlines, the season has become a major economic engine. Real estate, including rental apartments, serviced homes, and commercial spaces, sees unprecedented demand in Lagos, Abuja, Port Harcourt, and other cities, driving billions in revenue. “Families, friends, and returnees all want premium spaces to stay, host, or entertain,” says Davis, CEO of Hazel Crest Properties.
Lagos is at the heart of the real estate frenzy, welcoming around 1.2 million visitors in late 2024. Serviced apartments and villas often double or triple in price, with most bookings made weeks in advance. Landlords frequently convert personal properties into short-lets, while every service from cleaning to security operates at full capacity. Abuja and Port Harcourt follow, with occupancy levels nearing 100 per cent in popular districts, showing that the festive real estate boom extends beyond Lagos.
Detty December also drives diaspora investment. The Nigerians in Diaspora Commission reports over ₦60 billion flowed into Nigeria in December 2024 alone. Many returnees use the season to inspect properties, buy land, or finalize ongoing projects. Experts advise investors to focus on short-lets, serviced hotels, event venues, and commercial spaces to leverage high seasonal demand. With proper planning, December earnings can translate into sustained year-round profits for the real estate sector.