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Housing/Property

‘Why There Are Vacant Properties In Rivers’

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A Port Harcourt based real estate expert, Mr Atabebhunu Peters, has listed a number of reasons why many building properties are vacant in Rivers State.
Peters, who spoke to The Tide in an interview, yesterday, in Port Harcourt, noted that top on the list was the poor management of the security challenges in the state.
He explained that the security challenges in the state has not been adequately addressed and this has caused a lot of individuals and corporate bodies to leave the state.
According to him, “security challenges in the state play a role. A lot of people have left this state, companies have also left, that’s why you see these vacant properties littering the state.”
He lamented that even embassies have left the state which he said, has brought inconveniences to those seeking visas to foreign countries.
Peters also observed that the economic situaton of the country has also contributed to the housing challenge in the state, noting that in cases where the fortunes of a family have dwindled, they would be more concerned about feeding and, “not buying of properties’’.
He explained that due to the economic crunch being experienced in the country, some employers have downsized, making the affected workers to either move to smaller apartments or relocate from Port Harcourt city into the rural areas.
He also noted that the mortgage system in the country was not favourable to real estate practitioners, pointing out that in other climes, properties were built by developers with mortgage funding while prospect buyers purchase and pay back within 20-30 years.
Meanwhile, the real estate expert also identified double taxation as a bane to the development of the real estate industry, saying “these costs would be built into the cost of the property and it makes the average worker not to be able to afford the property, they thereby stand vacant for months or years.”
He expressed unhappiness that in spite of government outlawing what is popularly known as “marching ground,” community members were still demanding it which he noted sometimes runs in to six figures.
He regretted that many youths in the state allowed themselves to be used to destroy the once peaceful disposition of the state and appealed to them to engage themselves with gainful ventures that would not only build the state’s economy but also give them financial freedom.

 

Tonye Nria-Dappa

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Housing/Property

Expert Wants State Of Emergency In Housing Sector

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The Chief Executive of Fesadeb Communications Limited, Mr Festis Adebayo, has called on the Federal Government to declare a state of emergency in the housing sector to address effects of  population growth.
Adebayo, who was the convener of the just-concluded 13th Abuja International Housing Show, made the call in Abuja.
According to him,  the population of the country is growing at a geometric rate, while the government is working at arithmetic progression.
He said the Federal Government’s efforts could not match  the country’s population growth rate.
“The 18 million deficit cannot still be same,  everyday we are increasing in number  without increasing in ideas, policies and political will.
“The government should declare state of emergency in the area of housing; you cannot be selling cement for N2,500  and  then ask one to deliver a house for two million naira.
“The cost of building is very high, so government should act now before it will be late, “ said.
Adebayo said that government should not be involved in building houses, but it should come up with policies that would encourage people to invest in the sector.
He advised relevant authorities to focus more on what is called “Rental Housing Scheme’’ which he defined as “own and pay accordingly” .
Adebayo also called on the government to ban importation of building materials to encourage the use of local materials.
The Tide that the United Nations  Special Rapporteur on adequate housing, Leilani Farha, had  advised Nigeria to address its housing problem during her visit to the country. According to her,  the United Nations estimates that Nigeria’s population will double by 2050 to around 400 million people to make it the world’s third-largest nation after India and China.
She said that there was  lack of adequate housing in a country where most inhabitants lived on less than two dollars a day in spite of being Africa’s largest economy.

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Housing/Property

S’Africa APC Moves To Tackle Nigeria’s Housing Challenges

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The South African Chapter of the All Progressives Congress (APC) has promised to work with President Muhammadu Buhari to solve problems of housing, healthcare and energy in the country.
The group, in a letter addressed to the President and jointly signed by Mr Bola Babarinde and Prof. Folorunso Fasina, respectively, said these were critical issues demanding urgent attention of the President.
A copy of the letter, titled “On the National Question: Critical Issues Demanding Urgent Attention of Mr President,” was made available to The Tide last Monday.
The group, which expressed pleasure in meeting with the President during his visit to South Africa, said that the low income earners and civil servants were hardly remembered by developers of mass housing schemes in the country.
“The issues of affordability hampers ordinary citizens from access to good housing and a recent research done for Niger State shows that most civil servants die a few years after retirement from active service.
“Life after service is hard because things change sharply post-retirement, including housing. The Diaspora can assist in the provision of quality and affordable housing for the low to middle income earners, particularly civil servants.
“Using modern technologies, we can provide housing solution through mortgage financing supported by single digit interest rates. Workers will have between 15 and 25 years to repay, depending on the years of service left.
“It will be credit to this government to provide housing solution and reduce the suffering of the people,” the group said.
On the health sector, the group said that the country was not doing well taking into consideration the flight of medical personnel and the amount spent on medical tourism to countries like India, South Africa, Egypt and UK.
The group said that Nigerians in Diaspora, especially professionals in South Africa, were ready to partner the government at various levels on healthcare (primary, secondary and tertiary) to confront the health issues.
They said that this would also include mentorship of young medical personnel, exposure to the state- of-art-equipment, information exchange and sustainable, but affordable medical missions and training.
The group added that infrastructure including roads, water, school buildings, hostels accommodation and other facilities also needed attention of the government.

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Housing/Property

Niger Earmarks Land For 200 Housing Units

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The Niger State Government has provided land for the construction of 200 housing units to reduce the burden of accommodation among residents.
Managing Director, Happy Home Builders Nigeria Ltd, Mr Lukman Komolafe, disclosed this last Sunday in Abuja.
He said that the project was part of efforts by the state government to address the housing needs of residents of the state.
Komolafe said that the project, which started early in the year, would range from two bedroom bungalows to two bedroom compacts.
He said that the houses located along Madalla-Abuja road in Suleja would be completed by the end of the year.
According to him, the company was involved in building some housing units for cooperatives and groups in the state as part of effort towards addressing housing deficit.
Komolafe said that the company was known for its adequate and timely delivery of service.
“We are known for our excellence and professionlism with lot of commitment,” he said.
Komolafe said that housing was a crucial basic needs of every human being and so needed to be addressed urgently.
The housing estate which is an initiative of the Suleja Local Government Council and fully supported by the Niger State Government sits on 33.4 hectares of land with 371 number of plots with an average size of 450 square meters.

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