• Membership
  • Advert Rates
  • Careers
  • About Us
  • Contact Us
  • Digital Store
Tuesday, June 3, 2025
The Trumpet Newspaper Nigeria
No Result
View All Result
  • Home
  • News
    • Breaking News
    • Headlines
    • Metro
    • Health
  • Politics
  • Business
    • Ecommerce
    • Economy
    • Start-up
  • Entertainment
  • Sports
  • Opinion
    • Religion
    • Columnists
    • Contributors
    • Editorial
  • Global
    • Climate
    • Culture
    • Tourism
    • Technology
    • Weather
    • Social Media
  • e-Edition
  • Home
  • News
    • Breaking News
    • Headlines
    • Metro
    • Health
  • Politics
  • Business
    • Ecommerce
    • Economy
    • Start-up
  • Entertainment
  • Sports
  • Opinion
    • Religion
    • Columnists
    • Contributors
    • Editorial
  • Global
    • Climate
    • Culture
    • Tourism
    • Technology
    • Weather
    • Social Media
  • e-Edition
No Result
View All Result
The Trumpet Newspaper Nigeria
No Result
View All Result
ADVERTISEMENT
Home Business property

RISING COSTS: investors shift to low-income housing market

Blessing Oziwo by Blessing Oziwo
January 16, 2025
in property
Reading Time: 2 mins read
0
RISING COSTS: investors shift to low-income housing market
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedinShare on WhatsAppShare on Pinterest
Due to rising costs, investors and buyers in Nigeria’s housing market are practically shifting from the high-income to low-come segment of the market in response to rising costs in the country.

Bismarck Rewane, CEO, Financial Derivatives Company alluded to this fact while speaking recently at the July edition of his monthly Breakfast Session at the Lagos Business School. He stated that this shift is also driven by large market size and strong demand coming predominantly from students and young professionals.

He stated further that demand for residential real estate would continue to outpace supply, meaning that home seekers would continue to be at the mercy of product suppliers who, on account of mounting inflation, are hiking the rent charged on their houses.

ADVERTISEMENT

2023 ELECTIONS: apathy in real estate sector

With inflation peaking at 18.6 percent in June this year, cost of housing has gone up due to unstable and unfavourable exchange rates on imported building materials. The implication of this is that fewer people can afford to buy homes which increases demand for rental housing.

Statistics show that Nigeria is an active rental market where about 80 percent of the citizens are renters, spending a good percentage of their income paying house rent.

Read Also: EFCC probes S/Court Registrar over alleged N10bn loot, racketeering

What the current surge in rental costs has done is to compel city dwellers to downsize or downgrade to more affordable apartments to stave off harsh economic conditions, especially cost of living.

Statistics also reveal that between January 2021 and June 2022, rent in major Nigerian cities such as Lagos, Abuja, and Port Harcourt has risen above 50 per cent. For example, in some parts of Lagos, rents range between N700, 000 and N1 million for two-bedroom and for three-bedroom, including areas that were initially considered as cheap.

Furthermore, within this period, a three-bedroom apartment that was previously rented at N400, 000 rose to N600,000; two-bedroom increased from N350,000 to N550,000 while one bedroom, initially going for N250, 000 moved up to 300,000 in locations that appear to be less sought-after.

Mr Bismarck Rewane

A mini-flat went for between N450, 000 and N750, 000; a two-bedroom flat has gone up as high as N600, 000 to N1.1million, three-bedroom apartment in highbrow locations of Lagos and Abuja is between N1.2million and N4 million.

The increase in rent is the main reason many city residents, who want to reside within the city centre compulsorily, are downgrading their accommodation needs.

This also is the reason investment interest is favouring small size developments, and investors are responding to the present reality in the market.

Click on The Trumpet and follow us on our Twitter page for more:

Tags: investorsRISING COSTS
Previous Post

2023 ELECTIONS: apathy in real estate sector

Next Post

Widows rendered homeless as brother in-law demolished family house

Blessing Oziwo

Blessing Oziwo

Next Post
Widows

Widows rendered homeless as brother in-law demolished family house

About The Trumpet

The Trumpet is a Nigerian based national news media, owned, trademarked and operated by Elomaz Communications Limited with headquarters in FCT-Abuja and regional offices in Lagos and Delta States

Follow Us

Resources

  • Home
  • News
    • Breaking News
    • Headlines
    • Metro
    • Health
  • Politics
  • Business
    • Ecommerce
    • Economy
    • Start-up
  • Entertainment
  • Sports
  • Opinion
    • Religion
    • Columnists
    • Contributors
    • Editorial
  • Global
    • Climate
    • Culture
    • Tourism
    • Technology
    • Weather
    • Social Media
  • e-Edition

Recent News

Police arrest 6 gang members in Lagos

Police arrest 6 suspected gang members, recover weapons in Lagos

June 3, 2025
Elderly man claims to be Wizkid father

Video of elderly man claiming to be Wizkid’s biological father goes viral on social media

June 2, 2025
  • Cookie Policy
  • Disclaimer
  • Contact us
  • About Us
  • Cookie Policy
  • Disclaimer
  • Contact us
  • About Us

© 2025 The Trumpet News Papers - Developed by VIS Nigeria.

No Result
View All Result
  • Home
  • News
    • Breaking News
    • Headlines
    • Metro
    • Health
  • Politics
  • Business
    • Ecommerce
    • Economy
    • Start-up
  • Entertainment
  • Sports
  • Opinion
    • Religion
    • Columnists
    • Contributors
    • Editorial
  • Global
    • Climate
    • Culture
    • Tourism
    • Technology
    • Weather
    • Social Media
  • e-Edition

© 2025 The Trumpet News Papers - Developed by VIS Nigeria.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT
Go to mobile version
Verified by MonsterInsights