Operators in the Nigerian real estate development industry, say that there is a need to look at the sources of financing construction of housing to make life meaningful for Nigerians and also make housing affordable for all.
Director of Locke Homes Properties Ltd, Idowu Bakare, stated this on Tuesday while presenting the key to a 3-bedroom flat at the Gold Estate, Ayobo Ipaja, Lagos to Miss Chioma joy Oruh who emerged winner in the Win-A-Home-Today lottery organized organised by the Home Lottery Limited in conjunction with Locke Homes and MTN.
He said the lack of affordable mortgage availability has been a big problem confronting an affordable housing scheme in the country. “People haven’t been able to afford the deposits required to secure a mortgage and, put simply, if people can’t buy, builders can’t build.
“That there’s a need for more affordable housing in Nigeria is beyond question. The government needs to ensure new schemes are implemented swiftly and…