Johannesburg ($12/sqft, 16.2% vacancy) and Lagos ($60/sqft, 17.6% vacancy) compete on different axes: Johannesburg on talent depth and Lagos on rent and tax.
Johannesburg ($12/sqft, 16.2% vacancy) and Lagos ($60/sqft, 17.6% vacancy) compete on different axes: Johannesburg on talent depth and Lagos on rent and tax.
| Metric | Johannesburg | Lagos |
|---|---|---|
| Region | EMEA | EMEA |
| Country | South Africa | Nigeria |
| Class A rent (USD/sqft/yr) | $12 | $60 |
| Class A rent (local) | 220 ZAR | 90000 NGN |
| Vacancy | 16.2% | 17.6% |
| Trend | flat | flat |
| Prime yield | 9.4% | 9.6% |
| Premium flex / seat / month (USD) | $320 | $360 |
| Submarkets covered | 5 | 5 |
| Corporate tax | 27% | 30% |
| Metric | Johannesburg | Lagos |
|---|---|---|
| Typical term | 5 yrs | 2 yrs |
| Typical rent-free | 6 mos | 4 mos |
| Lease norms | Net leases. 5-7 year terms with escalation clauses. Free rent of 4-8 months and TI of ZAR 800-1,500/sqm typical on a 5-year deal. | USD-pegged or naira leases (USD common for international tenants). 2-3 year terms standard with renewal options. Often payable annually or 6-monthly in advance. Free rent of 3-6 months on a 3-year deal. |
| Tax note | 27% South African corporate income tax. SEZ incentives available. Dividends withholding tax 20%. | 30% Nigerian corporate income tax. 7.5% VAT. Tertiary Education Tax 2.5%. Investment promotion incentives available in selected free zones (Lekki Free Zone, Calabar Free Zone). |
| Metric | Johannesburg | Lagos |
|---|---|---|
| Talent index (0–100) | 78 | 74 |
| Talent note | Deep mining, banking, and multinational African operations talent. Strong English-language professional base; multilingual workforce. Strong feed from Wits, UCT, and Stellenbosch. | Deep banking, oil and gas, fintech, and creative talent. Strong English-language professional base. Strong feed from University of Lagos, Lagos Business School, and Covenant University. Nigeria's tech ecosystem (Flutterwave, Paystack, Andela) anchors deep talent. |
Johannesburg: Gautrain rapid rail (Sandton, OR Tambo Airport, Pretoria); Metrorail (limited); BRT (Rea Vaya). Heavy car dependency. OR Tambo International Airport on Gautrain.
Lagos: Lagos Light Rail (Blue Line operating 2023, Red Line 2024). BRT (Lagos BRT). Murtala Muhammed International Airport (LOS) bus-served. Heavy car dependency; Third Mainland Bridge anchors Mainland-Island commute.
Johannesburg is the cheaper Class A market on a USD basis.
Johannesburg has the deeper talent index (78/100 vs 74/100).
Johannesburg has the lower headline corporate tax (27% vs 30%). Local incentives can change the effective rate materially.
Johannesburg typical term is 5 years with 6 months free; Lagos runs 2 years with 4 months free.
Johannesburg: Gautrain rapid rail (Sandton, OR Tambo Airport, Pretoria); Metrorail (limited); BRT (Rea Vaya). Heavy car dependency. OR Tambo International Airport on Gautrain. Lagos: Lagos Light Rail (Blue Line operating 2023, Red Line 2024). BRT (Lagos BRT). Murtala Muhammed International Airport (LOS) bus-served. Heavy car dependency; Third Mainland Bridge anchors Mainland-Island commute.
Score Johannesburg, Lagos and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.