Omolabake Fasogbon
Real Estate firm, Propertyville Real Estate Development Limited has unveiled affordable housing solution to cushion the effect of swelling housing cost in Nigeria. High housing cost has been identified as one of the key factors pushing Nigeria’s inflation to as high as 31.70 per cent in February 2024.
According to the National Bureau of Statistics (NBS), Consumer Price Index (CPI) Housing Utilities in Nigeria averaged 143.30 points from 1995 until 2024, reaching an all-time high of 543.90 points in February of 2024.
Managing Director of the firm, Tolulope Oguntade, said the organisation was bringing relief through its affordable ‘Flourish County Estate’ which also aimed to bridge housing gap in Nigeria.
Speaking while leading some investors to the facility in Ibadan, recently, Oguntade explained that the project which caters to low- budget individuals packs essential quality housing amenities, including perimeter fencing, gatehouse and electricity infrastructure, amongst others .
“This is a reflection of our commitment to excellence as well as a desire to provide quality housing at affordable cost. As a trusted name in the real estate industry, we are focused on community development and investors’ success,” he added.
He explained further that Oyo, like other states in Nigeria grapples with housing challenge fueled by rising cost of building materials and difficulty in processing land titles.
