Business
House Rent Soars In Akpor Kingdom
A sudden rise in house rent has hit communities in Akpor Kingdom of the Obio/Akpor Local Government Area of Rivers State. The Tide has reliably been informed that house rents in Alakahia community has soared beyond imagination.
It was gathered that one bed room flat apartment that used to be within the range of N130,000 and N150,000 now goes on the range of N170,000 and N200,000, while a self-contained apartment that was between N70,000 and N90,000 now is obtainable at the cost of N120,000 and above.
A two-bedroom flat apartment in the same area now goes for between N270, and N300,000 in the same Alakahia community.
Also in Rumuosi Community of Akpor Kingdom, a bedroom flat that used to be between N120,000 and N140,000 now goes for N170,000 and N180,000, and in some newly completed buildings, the cost extends to N200,000, while a self-contained and two-bedroom flat now go for N90,000-N110,000 and N200,000 and N300,000 respectively, The Tide has reliably gathered.
The same could also be said about the Rumumuekini and the Ozuoba communities all in the Akpor Kindom, but with just minimal differences in these areas.
As the house rent soars, the cost of procuring land and development is also on the increase, as their tend to be an influx of people to these areas in search of homes and accommodations.
A land developer and property agent in the area, ThankGod Amadi in a chat with The Tide said that a lot of people are scared about the continuous increase in rent.
He attributed the rise to the presence of students and the relocation of the University of Port Harcourt Teaching Hospital, where a lot of staff of the institution as well as students are in search of accommodation.
Amadi compared that rate of increase in rent in Diobu with that of Akpor communities and concluded that rent in Akpor is getting higher than Diobu as people are continuously re-locating to the area from Port Harcourt.
Another tenant in Rumuosi whose name is given as Rose Iwedi said she and her family are relocating to Aluu community because of increase in rent.
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