Gulf Estate: Residents Decry High Cost Of Apartments

Some residents of Port
Harcourt and professionals in the real estate sector have described the cost of owning a home at Gulf Estate in TransAmadi area of Port Harcourt as outrageous .
They have lamented that the developers of the Gulf Estate did not in any way consider the  middle and low income earners in their development plan, which according to them form the bulk of the population in need of accommodation.
Making his feelings known to The Tide on the matter, Mr Ndu Ogbondah, a public servant in the state, said that the price tag on Gulf Estate houses is beyond the average public servants.
According to him, “Even if a Civil Servant on grade level 10 saves all his monthly salary for the period of  his service, he can not obtain even a two-bedroom apartment at the gulf estate at the cost of N65, million”.
Ogbondah posited that the bulk of the people that are in need of housing in Port Harcourt are the low and middle level income earners, and that the planners of the estate would have considered them also, rather than developing it for the high profile, who will be disposed to buy three – four bedroom apartment for N100 million and above.
On his part, a textile material dealer in mile three market, chief Alfred Nwogu has expressed dissatisfaction over what he said have turned out to be cost of housing.
He said that only politicians in position of authority, high income earners in the oil industry, as well as top business and company executives can afford to purchase houses at the estate given the current price level Nwogu expressed displeasure over how the plight of the low and middle income earners are not being considered in the provision of houses.
“They don’t want people to own homes. Housing policy  in this state is not sustainable, but it is very un fortunate  that only the interest  of the top class is considered , if not, how will they be selling three or four bedroom apartment for between N70 and N100 million which is outrageous,” he said.
Meanwhile, an estate valuer in Port Harcourt, Rowland Oyinke has said that demand for housing will continue to be high in Port Harcourt and environs, until government adopts a clear policy on how to provide a substantial number of affordable homes annually.
He however regretted that access to mortgage has remained a major challenge, but that government can do a lot to begin to settle it from those in its pay roll before their retirement.
The gulf estate is a joint venture between the Rivers State government and theRIVTAF on Peter Odili Road in Trans Amadi axis of  Port Harcourt.