High Rents: Surveyors Seek Mass Housing Schemes

Chairman, Lagos State chapter of Nigerian Institute of Quantity Surveyors (NIQS),   Mr Olayemi Shonubi, has blamed the absence of mass housing schemes for rising rents in Lagos.

He said that government and developers were not interested in mass housing.

Shonubi told The Tide source in Lagos yesterday that the high rents would come down if developers could engage in mass production of houses.

“Mass production of houses is more economical for investors; it saves resources, energy and time,’’ Shonubi said.

He urged developers to start mass production of houses to make houses readily available and affordable.

“The simple truth is that scarcity increases price, while abundance reduces price.

“So, the solution to incessant increment in rents is mass production of houses,” he said.

According to him, until government and developers desist from construction of houses in piecemeal and embark on mass houses, the problem of housing deficit will continue to stay with us.

“Today, the cheapest completed house one can get is at the rate of N4 million and above.

“The truth remains that not many citizens can afford such amount, but when large numbers of houses are built, the prices will reduce,” he  said.

Shonubi said that mass housing would not only result in bulk purchase of materials at discounted rates, but would also create room for easy access to mortgage scheme.

“The benefit of mass production is low cost which implies that developers will be able to recoup their investments within the shortest possible time.

According to him, any house with the major facilities like electricity, good road network and water is a livable apartment.

He said that mass housing was more cost-effective, saying that it remained the only viable way of reducing the high cost of accommodation in the country.