Introducing LastRent by AfrikCity: Helping Nigerians Move From Paying Rent to Owning Homes
For millions of Nigerians, paying rent is a recurring expense with no ownership at the end of the journey. Every year, tenants commit a significant portion of their income to housing, while the underlying property continues to build wealth for someone else.
LastRent by AfrikCity was created to change that.
LastRent is a Nigerian PropTech and real estate financing platform designed to make property ownership more accessible by helping individuals and families transition from renting to owning. Through property discovery, mortgage facilitation, developer installment plans and other structured financing options, LastRent creates a clearer pathway from tenant to homeowner.
The Problem With Renting Forever
Rent provides shelter, but it does not create ownership.
For many Nigerians, the traditional housing journey looks like this: earn income, pay rent, renew the tenancy, repeat the cycle.
As property prices increase, the idea of buying a home can seem increasingly out of reach. Many prospective homeowners also face challenges understanding mortgages, identifying suitable properties, navigating documentation, comparing financing options and dealing with the processes involved in completing a property purchase.
LastRent is built around a simple question:
What if the money you are already committing to housing could help you build toward owning the home you live in?
That question is at the heart of LastRent.
Introducing LastRent
LastRent is a property technology and real estate finance facilitation platform in Nigeria that connects people looking to own property with verified properties and structured financing pathways.
Rather than treating homeownership as something reserved for people with millions of naira sitting in the bank, LastRent seeks to make ownership more understandable, accessible and structured.
The platform enables users to:
- Discover verified properties across Nigeria
- Explore mortgage financing options
- Estimate affordability and monthly repayments
- Access developer installment plans
- Facilitate mortgage applications
- Explore outright property purchases
- Access construction and development finance pathways
- Receive guidance throughout the property acquisition process
LastRent's current platform also features a mortgage calculator and an eligibility assessment designed to help prospective buyers understand what they may be able to afford before beginning the purchasing process.
Built by AfrikCity
LastRent is a subsidiary of Afrikcity Development Limited, a real estate company headquartered in Enugu, Nigeria.
AfrikCity's broader mission is centred around building Africa through Africans, with a focus on real estate, sustainable development, financing, investment and technology. The company describes its approach as In-Situ Urbanization — developing communities and opportunities while preserving the identity and value of the places where people already live.
Leading AfrikCity is Ekeh Emmanuel Onyedikachi, Chief Executive Officer, who has positioned the company around creating sustainable communities and long-term generational impact through real estate development.
LastRent extends that vision into the homeownership and property-financing space.
The idea is straightforward:
Don't just build properties. Build pathways for people to own them.
From Tenant to Homeowner
LastRent's philosophy is built around changing the outcome of housing payments.
Instead of viewing housing strictly as an expense, LastRent helps prospective homeowners explore financing structures where monthly payments can contribute toward acquiring an asset.
For eligible buyers, this may involve mortgage financing, developer installment plans or outright purchase depending on their financial profile, the property selected and the available financing structure.
The platform currently facilitates access to different financing pathways, including mortgage options connected to eligible financial institutions, developer installment arrangements and outright property purchases.
This means homeownership doesn't necessarily have to begin with having the entire purchase price available upfront.
It can begin with understanding:
What can I afford? What property can I buy? What financing can I access? What will my monthly payment look like? And what steps do I need to take to eventually own it?
Making Property Financing Easier to Understand
One of the biggest barriers to homeownership isn't simply the price of property.
It is complexity.
Mortgages can be confusing. Property documentation can be intimidating. Financing terms can be difficult to compare. First-time buyers may not know where to begin.
LastRent is designed to simplify that journey by bringing property discovery, affordability assessment, financing facilitation and transaction support into a more structured experience.
The platform also states that properties undergo an internal verification process before being listed, including assessment of the developer, construction status and available title documentation. Buyers are nevertheless encouraged to conduct their own independent legal and property due diligence.
Who Is LastRent For?
LastRent is designed for different categories of prospective property owners, including:
Salary Earners
People who consistently pay rent and want to explore whether their income can support a path toward owning a home.
Business Owners
Entrepreneurs and self-employed professionals who have income but need financing structures that work alongside their business cash flow.
Civil Servants
Individuals with stable employment and income who may qualify for structured mortgage financing.
First-Time Homebuyers
People purchasing their first property who need help understanding affordability, financing and the acquisition process.
Nigerians in the Diaspora
Nigerians living abroad who want to discover, finance and acquire property in Nigeria with a more structured process.
More Than Property Listings
LastRent is not positioned simply as another property listing website.
Its focus is the journey from property discovery to ownership.
A prospective buyer can discover a property, assess affordability, explore available financing, begin an application and receive support through the transaction process.
That distinction is important.
The objective isn't simply to help people find houses.
It is to help more people own them.
The Future of Homeownership in Nigeria
Nigeria's housing challenge requires more than building additional houses.
It requires better access to financing, better information, stronger property verification, easier transaction processes and technology that connects prospective homeowners with the institutions and opportunities capable of helping them acquire property.
This is where PropTech can play a major role.
By combining real estate, financing, technology and professional facilitation, LastRent is building toward a future where property ownership becomes easier to understand and more achievable for ordinary Nigerians.
The company's goal is not to make a promise that everyone can instantly afford a house.
It is to make the pathway clearer.
Because sometimes, the first step toward owning a home isn't having all the money.
It's knowing that ownership is possible — and knowing where to start.
Your Rent Ends Here. Your Ownership Begins Now.
LastRent's message is simple:
Stop paying rent that builds someone else's future. Start building your own.
For Nigerians who have spent years renting, the next housing decision doesn't have to be another renewal.
It could be the beginning of ownership.
LastRent by AfrikCity — helping Nigerians move from tenants to homeowners, one property at a time.