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2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens - Properties (3) - Nairaland

Nairaland ForumNairaland GeneralProperties2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens (15710 Views)

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Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Mountbatten: 6:58pm On Oct 01, 2025
bazoodo:
Truth is today the housing deficit crisis Nigeria is facing today is as a result of the failure of governments post 1999 in planning ahead for the future. Kids born post 1999 today are already adults. Most of them are into tech legitimately and earn in USD while living in Nigeria. So a civil servant who barely earns 500k a month is forced to compete in the rental market with a young person working remotely earning USD 🙄🙄. So it's very sad situation
You were making sense till the remote worker bit. The fraction of Nigerians earning USD is negligible. What’s driving rent is demand vs limited options which realtors exploit. No reason a 2BD in Lagos should be 1.5M+ when most are old and below standard. Govt needs to step in with affordable housing.
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Denko2721987(m): 6:58pm On Oct 01, 2025
Edoreborn:
This is serious oooooooo..the funny thing be say u go still see people dey rush am..u begin to wonder where d money dey come from
Exactly...
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by tnerro1(m): 7:23pm On Oct 01, 2025
This is Nigeria presently, where your past looks better than the future
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by ufotunang: 7:27pm On Oct 01, 2025
WELLWlSHER29:
The rate at which house rentage price is going up is alarming.
... and I thought the federal government said that inflation rate has gone down
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by yongg:
Lols,

When the student is ready the teacher will appear.

The markets and markets prices has been shoving data to your faces that your minimum wage now has to be between NGN700,000 to NGN1,300,000 but you guys be playing with your lives and destinies.

Mind you that range is just minimum wage o, we are not even talking medium class.

2.5m annual rent will require one to be able to allocate 208,340 for rent monthly. The question is how many people get paid even that? How many civil servant rise up to the grade to be paid that amount?

Now even if one were paid that amount, one wouldn't want to empty 100% of one salary on rent alone as it is not even feasible to do so. So if that is assumed to be 20% of one's take home, one will be required to earn x5 of that, i.e. 1.1m monthly

According to your Finance ministry less than 5% of your assumed 238 million population even have at least 500k in their accounts, which translates to a measely 12 million -ish people, 😂, ha ha. Imagine only 12m people across the 37 states barely even have the chance to survive this, lols.

Oh yes, meanwhile the population demand for 2 bedroom apartment in urban areas country wide is estimated to be at least 22.4 million.

Meanwhile the remaining 210 million Nigerians enter village and deal with bandits.
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Reloadedisraelp: 8:11pm On Oct 01, 2025
Keep praising dangota una eyes go clear by 2030..... High cost of cement + greedy landlord + greedy agent ,is = monkey dey work babu dy chop.....in fela voice u go suffer for nothing.
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Julius1995(m): 8:49pm On Oct 01, 2025
🤣🤣🤣🤣🤣
080bjaked:
"Must you rent a 2 bedroom flat? Are you European? What happened to huts?" grin grin
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by iichidodo: 10:12pm On Oct 01, 2025
[color=#1986BC] Situated in a serene and secured environment in APO, Abuja. The apartment comes with its own dedicated electricity metre (no sharing of NEPA bills with anybody) and pipe borne water supply (borehole).
Price = 2.2M (can be renegotiated and reviewed by landlord )
Caution Fee= 5%
Legal Fee= 5%
Agent's fee=10%.
You discuss directly with the landlord. If interested, call,text or Whatsapp 09125157491
[/color]

Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Omalicious1: 11:16pm On Oct 01, 2025
nlfpmod:
https://punchng.com/nigerias-rent-crisis-deepens-as-two-bedroom-flats-hit-n2-5m/

What's the rent like in your areas?
How about the government starts building houses fornits residents?
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by smasher1(m): 7:05am On Oct 02, 2025
bazoodo:
Truth is today the housing deficit crisis Nigeria is facing today is as a result of the failure of governments post 1999 in planning ahead for the future. Kids born post 1999 today are already adults. Most of them are into tech legitimately and earn in USD while living in Nigeria. So a civil servant who barely earns 500k a month is forced to compete in the rental market with a young person working remotely earning USD 🙄🙄. So it's very sad situation
How many young people working remotely earning USD. You won't see 1 in a 100 youths. The reality is that we have people earning illegally but a few too. The issue is there is a housing deficit and so landlords keep increasing rent in an old house every two years or so.
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by smasher1(m): 7:06am On Oct 02, 2025
080bjaked:
"Must you rent a 2 bedroom flat? Are you European? What happened to huts?" grin grin
So if you are married with one or more kids, you would stay in a smaller apartment?
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by bazoodo: 9:13am On Oct 02, 2025
smasher1:
How many young people working remotely earning USD. You won't see 1 in a 100 youths. The reality is that we have people earning illegally but a few too. The issue is there is a housing deficit and so landlords keep increasing rent in an old house every two years or so.
there are many young people working remotely these days earning USD. You just need to go out to know
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by 080bjaked(m): 9:31am On Oct 02, 2025
smasher1:
So if you are married with one or more kids, you would stay in a smaller apartment?
You missed my point completely. The clue is in the picture smiley
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Cromagnon: 9:43am On Oct 02, 2025
nlfpmod:
https://punchng.com/nigerias-rent-crisis-deepens-as-two-bedroom-flats-hit-n2-5m/

What's the rent like in your areas?
what was dollar
What is dollar now
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Cromagnon: 9:43am On Oct 02, 2025
press9jatv:
It's the high inflation rate in the economy that caused it. Dangote cement has still not reduced in price yet for more 7 months now.
has dollar reduced
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Cromagnon: 9:45am On Oct 02, 2025
MuchAdo:
Peeegghs have arrived

They must blame Tinubu instead of greedy landlords
greedy how. Why you no go build your own house if e easy
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Cromagnon: 9:46am On Oct 02, 2025
CaptainJune:
The problems of Nigerians are their leaders and Nigerians.

They will not make a second hesitation in driving up prices to enrich themselves when they see the opportunity especially in cases of economic decline and artificially injected scarcity.
that's not how demand and supply works
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by press9jatv(m): 10:11am On Oct 02, 2025
Cromagnon:
has dollar reduced
nope
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by GeneralOuki: 11:23am On Oct 02, 2025
mariovito:
This is ubiquitously insane.

The way house rent skyrocketed

Sha blame it on inflammation


And also blame house agents who advice landlords to increase house rent that there are people who will pay, just because of the agency fee.
And on top of that, tax is coming next year.
We will learn a lesson.
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by GeneralOuki: 11:27am On Oct 02, 2025
080bjaked:
"Must you rent a 2 bedroom flat? Are you European? What happened to huts?" grin grin
Yes o. We should try and switch to trailer park housings grin
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by MuchAdo: 11:39am On Oct 02, 2025
Cromagnon:
greedy how. Why you no go build your own house if e easy
Government is not ready for greedy landlords yet.

These are steps government can take to stem the tide. They can make LAWS that:

1. Establish a state house-for-rent agency

2. Stop landlords from renting houses to individuals directly

3. Force every landlord to register their rentable apartments with the state house for rent agency

3. Agree on a reasonable house rent with the landlords

4. Encourage house seeker to approach the agency for available apartments

In summary, the government plays the role of House Agent and middleman between landlord and tenant.

If any landlord rents out his out directly to anyone, he is on his own

All this nonsense will stop.
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Cromagnon: 6:31pm On Oct 02, 2025
MuchAdo:
Government is not ready for greedy landlords yet.

These are steps government can take to stem the tide. They can make LAWS that:

1. Establish a state house-for-rent agency
Had any govt agency worked in 65yrs?
2. Stop landlords from renting houses to individuals directly
Is the house govt property
Why will they stop them
That is theft
3. Force every landlord to register their rentable apartments with the state house for rent agency
Didn't they register their c of I?
3. Agree on a reasonable house rent with the landlords
Is it govt that will determine price or demand and supply
Again why you no build house with 100 natural them rent it for 1 naira since it's easy to agree to price


4. Encourage house seeker to approach the agency for available apartments

In summary, the government plays the role of House Agent and middleman between landlord and tenant.
Had govt ever been successful in running any business ever?
If any landlord rents out his out directly to anyone, he is on his own
So govt should size ppl property like a slave owner
You get sense so?
All this nonsense will stop.
[quote][/quote]
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Cromagnon: 6:31pm On Oct 02, 2025
press9jatv:
nope
so why will rent
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by MuchAdo: 8:12am On Oct 03, 2025
Cromagnon:
Had any govt agency worked in 65yrs?

Is the house govt property
Why will they stop them
That is theft

Didn't they register their c of I?

Is it govt that will determine price or demand and supply
Again why you no build house with 100 natural them rent it for 1 naira since it's easy to agree to price



Had govt ever been successful in running any business ever?

So govt should size ppl property like a slave owner
You get sense so?
Trash! Trash!! Trash!!!

When the government is ready, it knows what to do. If no government agency works, I dare you to drive without papers in the afternoon. cheesy

Shyluck, greedy landlords can be tamed easily. tongue

Housing is a critical sector of the economy that government must regulate.

If you are not okay with it, keep your house to yourself... tongue cheesy
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Cromagnon: 9:59am On Oct 04, 2025
MuchAdo:
Trash! Trash!! Trash!!!

When the government is ready, it knows what to do. If no government agency works, I dare you to drive without papers in the afternoon. cheesy
when has govt ever worked
Very simple question
This is how you fail waec
Shyluck, greedy landlords can be tamed easily. tongue
where has govt ever tamed landlords
Do you even know where the word landlord comes from
Housing is a critical sector of the economy that government must regulate.
where has govt regulation ever worked
You won't answer the question
Shows your IQ level
If you are not okay with it, keep your house to yourself... tongue cheesy
if they keep the house where will you get house to rent

Think before you talk
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Mountbatten: 10:22am On Oct 04, 2025
MuchAdo:
Government is not ready for greedy landlords yet.

These are steps government can take to stem the tide. They can make LAWS that:

1. Establish a state house-for-rent agency

2. Stop landlords from renting houses to individuals directly

3. Force every landlord to register their rentable apartments with the state house for rent agency

3. Agree on a reasonable house rent with the landlords

4. Encourage house seeker to approach the agency for available apartments

In summary, the government plays the role of House Agent and middleman between landlord and tenant.

If any landlord rents out his out directly to anyone, he is on his own

All this nonsense will stop.
On paper this looks like a reasonable solution, but it won’t work. Too many government officials use real estate to launder money, and this would expose them.
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Mountbatten: 10:25am On Oct 04, 2025
A temporary fix would be for the govt to mandate landlords to register rentals and enforce capped rent ranges based on location, age, and facilities. The permanent solution is affordable housing projects (alone or via PPPs). Hiking rents on substandard homes isn’t sustainable.
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Mountbatten: 12:31pm On Oct 05, 2025
iichidodo:
[color=#1986BC] Situated in a serene and secured environment in APO, Abuja. The apartment comes with its own dedicated electricity metre (no sharing of NEPA bills with anybody) and pipe borne water supply (borehole).
Price = 2.2M (can be renegotiated and reviewed by landlord )
Caution Fee= 5%
Legal Fee= 5%
Agent's fee=10%.
You discuss directly with the landlord. If interested, call,text or Whatsapp 09125157491
[/color]
This looks so disgusting
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by MuchAdo: 7:34am On Oct 06, 2025
Cromagnon:
when has govt ever worked
Very simple question
This is how you fail waec
where has govt ever tamed landlords
Do you even know where the word landlord comes from
where has govt regulation ever worked
You won't answer the question
Shows your IQ level
if they keep the house where will you get house to rent

Think before you talk
Seems you are have started speaking like a lhuunnertick cheesy I said dare drive your car without papers and see if government works or not cheesy

For every greedy landlord there are several reasonable ones like mine cheesy

Also. with government regulation in place, many will rather fall in line than 'eat their apartments cheesy
Re: 2-Bedroom Flats Hit ₦2.5M As Nigeria’s Rent Crisis Deepens by Cromagnon: 10:31pm On Oct 19, 2025
MuchAdo:
Seems you are have started speaking like a lhuunnertick cheesy I said dare drive your car without papers and see if government works or not cheesy

You're the one changing goal post
You didn't say anything about driving without papers
How is extortion working for the you since you need it worked out like a child


For every greedy landlord there are several reasonable ones like mine cheesy

So why are you bothered by them since you're so many reasonable ones
If you're right then nobody should even go to them since the reasonable ones own all the houses


Also. with government regulation in place, many will rather fall in line than 'eat their apartments cheesy
or not build and you wait in line (homeless)for govt apartments that will never come

Critical thinking is key
1 2 3 Reply

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