In furtherance with the discussion on Affordable Housing on The Landlords, a Metropolitan Ideas production on Real Estate on The beats 97.9Fm Ibadan, experts have advocated an urgent check of rural-urban migration and the establishment of a price control mechanism to regulate the prices of properties.
In his opinion, the Branch Head, Sweet Estates, Opeyemi Idowu, believes the government should do more in providing affordable housing to the people.
According to Idowu, the government should subsidize the cost of land and make use of local construction workers to reduce the cost of houses.
‘The government cannot do it alone, because those who should access housing are not accessing it because of finance,’ he said.
‘Government should look inwards and utilize local workers, this will reduce the cost of construction and eventually reduce the cost of housing.’
He also called for a price control mechanism whereby landowners and homeowners will have a limit on the rent and prices placed on the property.
‘We know government allocates lands to private individuals to re-sell, but it should not stop at that, the prices should be regulated.’
Idowu observed that mortgage has not been readily available for interested home buyers lamenting that this has hampered people’s access to affordable housing.
Speaking on urban-rural migration and its effects on resources, the housing expert advocated the provision of basic infrastructures like good roads and amenities like potable water and electricity for rural dwellers, adding that this will make housing more affordable in the urban areas.
On his part, the CEO of Magni Concept, Abiola Olabode Oluwole, who is a registered member of the Nigerian Institute of Town Planners, charged Nigerians to emulate the housing sector in the developed world by deploying technology where necessary to reduce the waiting time of getting some documentation.
‘When it comes to affordable housing in Nigeria, some of the challenges are, scarcity of long-term funds, property registration, and title documentation which puts an unnecessary delay in the processing of land documentation, Land Use Act of 1978 which vested the power of acquisition of land on the state governors and the lack of infrastructure.’
Oluwole believes government should act as an enabler to allow Private investors to partake in the provision and management of housing facilities.
Also speaking on the show, the Vice President of the Nigerian Institute of Building, Builder Bimbo Kolade highlighted the high cost of building materials as a major impediment in the way of providing affordable housing both by the government and private investors.
Kolade, who also harped on the land use act stressed the importance of ensuring that land is available and affordable for all citizens irrespective of their level of income.
Speaking on Housing Finance, Builder Kolade lamented that the current Mortgage system in Nigeria currently is still geared towards formal income earners who he observed do not even earn enough to afford decent properties.
