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Private Property Agent: Buying and Renting Property Now Easy

Renting/buying or selling a house or apartment made easy

Picture this… A beautiful property located in Ojodu axis in Lagos, according to the agent in charge, is available for rent. Coincidentally, this comes at a time that you are in need of an apartment. When you learn this property has four 2-bedroom flats and that they are all available at N500,000 per flat, it strikes you a reasonable deal. You proceed to put a call through to the agent and make plans for an inspection.

On the agreed date, he takes you to the apartment, you go in, everything checks out and you even take selfies for your Instagram page with the caption: “Time for a new space…”

You make payment after four days and you are expected to move in within the next three weeks. Well, because the house is really nice, you decide to show it off to your fiance or friends a week before you move in. You take them there on a weekend but on your arrival, you find a group of angry men and women lamenting how the agent has collected money from 81 other people for the same flat you just paid for.

It suddenly dawns on you… You have been scammed!

Concerned by the rising trend of fake property agents, Private Property, Nigeria’s property website that connects house owners and sellers with buyers as well as those looking to rent apartments has taken over as a property agent to make the experience safer, faster and memorable for you.

This new model connects homeowners directly with those looking to buy or rent an apartment or house. Renting an apartment, buying a home or selling a property in Lagos can prove difficult and sometimes messy if not professionally handled by professionals in the Nigerian real estate space.

Guess what? Renting, buying and selling property should be easy! You can buy or rent directly online with Private Property. Below are benefits of dealing directly with Private Property rather than property agents.

  • It is safer
  • It is more convenient
  • It saves time
  • It gives you access to more properties
  • It helps you negotiate better deals
  • It provides you with local market property trends

Everyone deserves a place to call home.


The Rising Cost of Building a House in Nigeria

Despite the biting economic effects of the recession in Nigeria, the cost of building a house has continued to rise. Between October 2016 and April 2017, several building materials have become more expensive than they used to be. In October 2016, it cost N2,500 to buy the ¼ white plywood board whereas, in April 2017, the same plywood was sold for N4,200 per unit.

As expected, this holds grave consequences for developers, the government, Nigerians planning to rent or buy property as well as other stakeholders. Industry experts have bared their minds on this topic as seen below:

Nigeria Real Estate Hub

“Nigerians would continue to pay more for accommodation in major cities until the cost of building materials is subsidised. Many completed housing estates across the country have remained unoccupied because of the high rental and sale prices attached to them as against the meagre income of the average Nigerian worker. More so, it is worse now due to the economic recession. The increase in the prices of building materials has multiplier effects on housing development, many projects are not completed on time due to the cost of materials which have been on the increase. Besides timely completion, high prices of building materials form a crucial constraint to improving housing conditions in Nigeria.”

For more info: http://nigeriarealestatehub.com/implications-cost-building-materials.html/

Our View

The implication of this is that housing schemes initiated by the government are not affordable to the average Nigerian. As expected, this impacts negatively on the projection of the government to cut down the visible housing deficit that the country has endured for years.

The government has, over the years, launched initiatives to provide affordable housing to the teeming population and encouraging homeownership through site and services schemes but with the rising cost of building materials, this goal proves elusive.

What can be done to free the country from this real estate trap? Perhaps the government should establish policies that will be aimed at bringing down the cost of building materials.