Estate Surveyors Seek Investment In Low Cost Houses

President, Nigerian Institute of Estate Surveyors and Valuers (NIESV), Mr Rowland Abonta, has called on stakeholders in housing sector to invest in low income houses to address housing deficit in the country.
Abonta made the call last Thursday in Abuja recently, saying investment in low income houses would go a long way to address the housing deficit in low and medium income cadre.
According to him, the housing needs of the high income earners had been saturated, and now the focus should be on the low and medium income categories.
“Economically, you can say that the housing needs of the high income people had been saturated, we have excess provision, excess construction for this category of the income group.
“The government should be proactive to take a decision to direct investment in other sectors of our nation economy to meet housing needs of the low and medium income earners,” he said.
The estate expert called for deliberate policy that would help to redistribute what was excess in the high income category to the low income category.
“Also, in addition to sight and services schemes, the design for the low income and the medium income housing should be the type we call core housing.
“If a house is three-bedroom flat, it should be in such a way that one bedroom, with kitchen and other conveniences necessary are also provided as a core unit.
“Then the owner of the house moves in and from his own savings over time he will be able to complete the entire apartment for himself  as the need arises,” he said.
Abonta said this could be the short cut to make houses available to people in low and medium income group.
He said that government should provide enabling environment and then initiate policy that would bring the low and medium income earners into focus by housing developers.