It's a known fact that Nigeria has a huge housing deficit due to several reasons.

But one would think that a simple/smart way to solve the problem is to develop moderate and affordable housing plans, one of which is the sales of apartment as practiced in the UK. So, instead of everyone jostling to buy a whole house, individuals can simply buy an apartment in a building and be rested off housing issues. This will also reduce the propensity to stealing and corruption towards buying houses almost everywhere.

I see the Lagos state government is trying to do this, but I am not sure of the status and success of the scheme.

For those who are more conversant with the housing sector, why is the sales of apartment not a major option for reducing housing issues in Nigeria?

Good question

No mortgage financing to make it a viable business and there are no laws to promote harmonious cohabitation in a building with different owners.

tolajay:
It's a known fact that Nigeria has a huge housing deficit due to several reasons.

But one would think that a simple/smart way to solve the problem is to develop moderate and affordable housing plans, one of which is the sales of apartment as practiced in the UK. So, instead of everyone jostling to buy a whole house, individuals can simply buy an apartment in a building and be rested off housing issues. This will also reduce the propensity to stealing and corruption towards buying houses almost everywhere.

I see the Lagos state government is trying to do this, but I am not sure of the status and success of the scheme.

For those who are more conversant with the housing sector, why is the sales of apartment not a major option for reducing housing issues in Nigeria?

Apartments are sold in Lagos oo.. not just by Lagos govt. Most of the available apartments are sold by private developers and believe me, they are not cheap..

I believe many didn't even know about the possibility of that..... What we know here are bacha

Jethrolite:
No mortgage financing to make it a viable business and there are no laws to promote harmonious cohabitation in a building with different owners.

You made a valid point!

this one is for sale at an estate in adeniyi Jones ikeja
3br and 4br townhouses

*** can't attach the pics. don't know why.

tolajay:
It's a known fact that Nigeria has a huge housing deficit due to several reasons.

But one would think that a simple/smart way to solve the problem is to develop moderate and affordable housing plans, one of which is the sales of apartment as practiced in the UK. So, instead of everyone jostling to buy a whole house, individuals can simply buy an apartment in a building and be rested off housing issues. This will also reduce the propensity to stealing and corruption towards buying houses almost everywhere.

I see the Lagos state government is trying to do this, but I am not sure of the status and success of the scheme.

For those who are more conversant with the housing sector, why is the sales of apartment not a major option for reducing housing issues in Nigeria?

from my research online, I understand that most people in the UK live in government built council homes with many opting to buy their homes on a mortgage after three years through the right to buy law. In the zoo called Nigeria, the government doesn't build the homes, their don't provide mortgage or offer incentives to the banks to do so, there's no appropriate modern laws nor are the courts functional enough to arbitrate in business disputes, the government doesn't care about your welfare which is why Nigeria have the highest cement and vehicle prices in the ECOWAS region etc.

Apparently, private investments are poised on profit making against social goods.

How many people can afford a 3 bedroom of 15-20 million at a go?

My reference here is government financed or managed apartments which are somewhat subsided.

This country isn't progressing on any positive frontier.

Coldplay007:


Apartments are sold in Lagos oo.. not just by Lagos govt. Most of the available apartments are sold by private developers and believe me, they are not cheap..

Sad realities.

We never start for this country oo.

mgbadike81:
from my research online, I understand that most people in the UK live in government built council homes with many opting to buy their homes on a mortgage after three years through the right to buy law. In the zoo called Nigeria, the government doesn't build the homes, their don't provide mortgage or offer incentives to the banks to do so, there's no appropriate modern laws nor are the courts functional enough to arbitrate in business disputes, the government doesn't care about your welfare which is why Nigeria have the highest cement and vehicle prices in the ECOWAS region etc.

Apartments are sold! Anyone who wants to buy a flat should hit me up.

I hope it’s not one of those pricey, hard to pay up apartments.

By the way, drop the details of your partment sales offer here.

Realrealtor:
Apartments are sold! Anyone who wants to buy a flat should hit me up.