Rent in Lagos is a lot cheaper than in Abidjan or Dakar. Remember that these numbers in the video are yearly rents, not monthly. For a 2 BR apartment, in Abidjan, you will need to pay around 250.000CFA a month, which equates to 7.6 Millions Naira a year.
You should start by regulating the price of building materials. A bag of cement is almost 10k. Increase in rents has to do with high cost of building materials.
99% of the houses are own by politicians and senior civil servants. That’s why nothing can be done to regulate the sector positively to benefit the common man. My former landlord, was an accountant in one of the parastatal in lagos state govt, he owns more than 14 houses all around lagos. He astronomically increased my house rent after a year because I bought a solar power system for my flat. He made me believe I couldn’t do anything other pay up or pack out. That was what happen, I packed out. Greed everywhere without conscience!
It sucks but people have to remember that over 100,000 NEW people move to Lagos every single month
We are suffering and smiling 😢 and it so sad that we can’t even speak up 🤐
Blame tinubu he is the Lagos landlord
Rent in Lagos is a lot cheaper than in Abidjan or Dakar. Remember that these numbers in the video are yearly rents, not monthly. For a 2 BR apartment, in Abidjan, you will need to pay around 250.000CFA a month, which equates to 7.6 Millions Naira a year.
The annoying part is the greedy agents
Realtors and real estate developers charging in dollars are also contributing to this inflation issue.
Angent fee shouldn’t pass 10% which one is 20%
You should start by regulating the price of building materials. A bag of cement is almost 10k. Increase in rents has to do with high cost of building materials.
Government should flood the market with high rises and prices will drop. No need for any price regulation or control.
99% of the houses are own by politicians and senior civil servants. That’s why nothing can be done to regulate the sector positively to benefit the common man. My former landlord, was an accountant in one of the parastatal in lagos state govt, he owns more than 14 houses all around lagos. He astronomically increased my house rent after a year because I bought a solar power system for my flat. He made me believe I couldn’t do anything other pay up or pack out. That was what happen, I packed out. Greed everywhere without conscience!