The bustling metropolis of Lagos, typically referred to as the “financial hub of Africa,” is grappling with a big housing disaster. The town’s speedy urbanisation, coupled with a rising inhabitants, has created a housing deficit that’s straining its infrastructure and impacting the lives of tens of millions of residents.

Nigeria’s housing deficit is a urgent concern that extends past Lagos. In keeping with current estimates, the West African nation wants roughly 28 million housing items to fulfill the demand of its quickly rising inhabitants.

This shortfall has led to quite a lot of issues, together with overcrowding, slum growth, and elevated vulnerability to pure disasters, with flooding recorded in Lagos, Niger, and Borno states, amongst others.

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In keeping with the World Financial institution and native housing surveys, Nigeria faces a staggering housing deficit of over 20 million items, pushed by speedy urbanisation and inhabitants development.

The problem is compounded by excessive upfront prices, rigid fee phrases, and insufficient financing choices, making it more and more tough to safe an appropriate residence or dwelling in immediately’s aggressive market.

The rising price of residing, restricted housing provide, and strict rental necessities make it more and more tough for a lot of people and households to search out inexpensive housing.

Different components, together with redevelopment and financial instability, have additionally contributed to the challenges confronted by potential tenants and householders. Nevertheless, regardless of these challenges, the demand for housing remains to be on the rise.

In response to those challenges, Quickteller Properties, the true property and property arm of the Interswitch Group, is altering the narrative in Nigeria’s actual property market.

By introducing versatile fee plans, resembling instalment-based choices and rent-to-own schemes, Quickteller Properties is making dwelling possession and property rental extra accessible to Nigerians with out the burden of excessive upfront prices.

The Nigerian actual property market is presently going through challenges resembling rising property costs, restricted infrastructure, and inconsistencies in property rights and possession, making homeownership more and more unattainable for the common Nigerian.

Quickteller Properties addresses these challenges by providing a complete ecosystem that connects tenants, landlords, and brokers, streamlining the seek for each short-term and long-term rental or buy choices.

On the current SmallSmall Truthful 2024, held on the Pistis Convention Centre in Lekki, Lagos, Quickteller Properties emphasised its dedication to tackling the dominant points within the housing sector by providing instalment fee choices, clear property listings, and streamlining the rental or buy course of, which performs a key position in connecting tenants and patrons with obtainable properties extra effectively.

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Olawale Akanbi, Divisional Head, Development Advertising and marketing, Retailers, and Ecosystem, famous that the corporate’s mission is to empower people and households to allow them to resolve their housing wants.

“At Quickteller Properties, we’re dedicated to creating housing accessible to all by providing versatile fee options that deliver dwelling possession inside attain. By doing this, people and households are empowered to take management of their future whereas making a safe basis for generations to come back,” Akanbi mentioned.

Past simplifying the method of discovering and securing housing, Quickteller Properties affords clear market data, financing choices, utility connections, fee options, and a full suite of dwelling companies.

“All of that is facilitated by a user-friendly digital platform that streamlines the method of discovering appropriate housing and managing associated companies.”

Gamers in the true property trade of Nigeria have referred to as for funding in infrastructure and inexpensive housing to spice up the expansion and growth wanted to make the nation an financial powerhouse globally.
Earlier within the yr, Olusegun Mimiko, the previous governor of Ondo State, mentioned infrastructure, together with housing, is essential for financial development and growth.

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The previous minister of Housing and City Improvement mentioned Nigeria is plagued with capability and monetary deficits hindering the nation’s growth.

He famous that financial growth can solely be doable when there’s safety of lives and property, ascribing the low funding within the nation to the rising insecurity.