Valuer Charges Govt On Mortgage System

An estate surveyor
and valuer in Port Harcourt, Mr. Morgan Amakiri, has urged the Federal Government and  the incoming administration to strengthen the mortgage system in the country so as to facilitate development in the housing sector.
Amakiri, who was speaking in an interview with The Tide in Port Harcourt noted that any reform without money was meaningless, adding that the non-availability of funds for mortgage had grossly affected the average Nigerian worker in terms of home ownership.
He said that if mortgage institutions  had money, they would give loans to civil servants, but that without  fund, there will be no loan, adding that the mortgage would be at low interest rate and for a longer period of time.
The estate valuer, who is also a member of the Nigerian Institute of Estate Surveyors and Valuers (NIESV), also urged government, particularly the Rivers State Government to evolve a policy that will guarantee massive development of low cost housing for its workers and the public.
He said that Port Harcourt and its environs have witnessed steady increase in population, which does not match with housing provision, adding that this has effected the rent.
“If this is taken as a policy by the state government, and specific number of houses, between 500 and 1,000 units are built every year, everybody will be sure of owning a house before leaving the service.
“They should have a budget for housing development every year, and in 10 years time, about 10,000 units will be built, and owned by people,” he said.

Corlins Walter