A real estate and property management consultant, Eze Akwa Udi, has given a commendation for the introduction of the new Roland Igbinoba House Price Index in the country.
Speaking to The Tide in an interview, in Port Harcourt at the weekend, Udi, while applauding the initiative, noted that, the House Price Index was the first of its kind in Nigeria.
The property management consultant observed that the introduction of the new price index would give rise to useful housing data which he pointed out, had been a major challenge, to home seekers, investors and governments in their quests to making decisions about the housing market.
Udi further said, “I have taken an indepth look into the House Index and I can assure you, it is a useful document in an investor’s hand in that it could help him track his investment”.
Additionally, he said, the House Index would be a useful tool for analysis, particularly in determining demography, prediction and trends in house prices, which according to him was a hard nut for investors and developers as well as governments to crack in the past.
He went on to describe the House Index as a community block by which real estate investors and project owners would be able to understand processes around towns before taking decisions.
Udi recalled that, the Roland Igbinoba House Price Index was introduced early this year and explained that it is expected to measure prices across designated markets.