The Guardian

Housing shortage: experts advocate recapitalizing mortgage banks


Concerned about the nation's growing housing shortage, real estate experts are advocating for a recapitalization of the nation's mortgage banks.

After inspecting one of the properties on the Abeokuta/Sango-Ota Expressway, the General Manager of Alidan Homes and Properties, Gift Akande, said that the recapitalization has left the mortgage bank with a large number of people who cannot afford it. The company revealed that it will be able to cater to many Nigerians. To get your dream home and fill the housing gap.

Mr. Akande urged Nigerians to consider home loan options to get their dream home, saying home loan options are far better than loan sharks that put unnecessary pressure on people. It pointed out.

she said: She said: “Shelter is essential, but it does require some resources, so people should go down the route of mortgage financing rather than loan sharks.

“We are also helping people with their housing needs in Abeokuta, Ogun State. That is why we have built an affordable payment plan for everyone. Government cannot do it alone. This is why Homes is committed to filling the housing gap and providing quality and affordable homes to Nigerians.”

Sola Ojikutu, chief executive officer of Entrecom Homes and Properties, cited low remuneration as one of the main reasons preventing many Nigerians from becoming homeowners.

She called on the government to increase the minimum wage for workers to cushion the effects of the economic downturn and support workers' home ownership.

She says the mortgage system should also be strengthened with increased capital so that people can pay for their properties over perhaps about 20 to 25 years.

Source: guardian.ng

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