{"id":4768,"date":"2017-05-30T05:10:05","date_gmt":"2017-05-30T05:10:05","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/?p=4768"},"modified":"2017-05-30T05:10:05","modified_gmt":"2017-05-30T05:10:05","slug":"housing-shortage-fashola-canvasses-mortgage-financing","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/housing-shortage-fashola-canvasses-mortgage-financing\/","title":{"rendered":"Housing shortage: Fashola canvasses mortgage financing"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div itemprop=\"description\" readability=\"73\">\n<p>By Peter Egwuatu<\/p>\n<p><strong>I<\/strong><strong>N<\/strong> order to overcome the <a href=\"https:\/\/amazingproperty.com.ng\/blog\/sell-your-home-online-fast\/\">housing<\/a> shortage in the country, the Minister<strong>\u00a0<\/strong>of Power, Works and Housing, Mr. Babatunde Fashola, has reiterated the need for <a href=\"https:\/\/amazingproperty.com.ng\/blog\/mortgage-preapproval-guide-for-home-buyers\/\">mortgage<\/a> <a href=\"https:\/\/amazingproperty.com.ng\/blog\/construction-loans-for-commercial-and-residential-builders\/\">financing<\/a> options.<\/p>\n<p><!-- between content ad --><\/p>\n<figure id=\"attachment_430604\" style=\"width: 412px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2014\/02\/Govfashola1.jpg?resize=412%2C270\" data-lazy-src=\"https:\/\/i0.wp.com\/d19lga30codh7.cloudfront.net\/wp-content\/plugins\/lazy-load\/images\/1x1.trans.gif\" class=\"size-full wp-image-430604\" alt=\"\" width=\"412\" height=\"270\" srcset=\"http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2014\/02\/Govfashola1.jpg 412w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2014\/02\/Govfashola1-300x196.jpg 300w\" sizes=\"(max-width: 412px) 100vw, 412px\"\/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"size-full wp-image-430604\" src=\"https:\/\/i0.wp.com\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2014\/02\/Govfashola1.jpg?resize=412%2C270\" alt=\"\" width=\"412\" height=\"270\" srcset=\"http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2014\/02\/Govfashola1.jpg 412w, http:\/\/d19lga30codh7.cloudfront.net\/wp-content\/uploads\/2014\/02\/Govfashola1-300x196.jpg 300w\" sizes=\"(max-width: 412px) 100vw, 412px\"\/><\/noscript><figcaption class=\"wp-caption-text\">Fashola<\/figcaption><\/figure>\n<p>The minister in his key note address at the Nigerian Stock Exchange, NSE sub-Saharan Africa <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">Real Estate<\/a> Investment Trust (REITS) conference held recently in Lagos also stressed that the demand for advance payment for house rent was one of the greatest reasons \u00a0 why block of\u00a0\u00a0 flats are empty across the country.<\/p>\n<p>He stated: \u201cThe need for credit reinforces my belief in the resort to the time-tested use of mortgages as the best method for increasing access to housing for the vast majority of Nigerians and indeed Africans; if we can build the <a href=\"https:\/\/amazingproperty.com.ng\/blog\/really-nice-property-for-sale-in-nigeria\/\">houses<\/a> in a sustainable manner.\u201d<\/p>\n<p>He noted that it is difficult, if not impossible, for government to provide all housing solutions given the diverse demands. \u201cThe truth, which we must accept, is that 100 per cent \u00a0 home ownership is an ideal, but the reality is that, best practices in places like the UK, US, Canada and Singapore are stories of a mixture of ownership and rental arrangements\u201d he added.<\/p>\n<p>He also stated: \u201cWith this in mind my thoughts are directed on how to gradually and consistently increase the number of tenants who become owners, with a focus on first-time owners. Our first thoughts and actions are to avoid the limitations of the past initiatives and deliver a sustainable programme of national housing that has wide acceptability.<\/p>\n<p>\u201cThe roadmap to this in our view is to evolve nationally acceptable designs that respond to and accommodate our socio-cultural diversity. Having meticulously evaluated some 21 options, we have based on research adopted the following six designs, with input from a diverse team of Architects from across the country.\u201d<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a hre=\"http:\/\/www.vanguardngr.com\/2017\/05\/housing-shortage-fashola-canvasses-mortgage-financing\/\"> Vanguard <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] By Peter Egwuatu IN order to overcome the housing shortage in the country, the Minister\u00a0of Power, Works and Housing, Mr. Babatunde Fashola, has reiterated the need for mortgage financing options. Fashola The minister in his key note address at the Nigerian Stock Exchange, NSE sub-Saharan Africa Real Estate Investment Trust (REITS) conference held recently [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4769,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[519,15237,12908,543,617,489,344,15258,684,408,312,522,1007,818,678,15282,907,3053],"class_list":["post-4768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-africa","tag-canva","tag-home","tag-home-buying-guide","tag-house","tag-houses","tag-housing","tag-indeed","tag-lagos","tag-mortgage","tag-mortgages","tag-nigeria","tag-owners","tag-real","tag-rental","tag-ross","tag-tenant","tag-tenants"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":6556,"url":"https:\/\/amazingproperty.com.ng\/blog\/fashola-urged-to-pursue-housing-reforms\/","url_meta":{"origin":4768,"position":0},"title":"Fashola urged to pursue housing reforms","author":"Amazing Property","date":"October 9, 2017","format":false,"excerpt":"Minister of Works, Power and Housing Babatunde Fashola Disturbed that past efforts to provide solutions have failed, a Lagos-based firm, RevolutionPlus Property Development Company has urged the Minister of Works, Power and Housing, Babatunde Fashola to facilitate the amendment of the Land Use Act and create enabling environment for private\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Minister Of Works Power And Housing Babatunde Fashola.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Minister-of-Works-Power-and-Housing-Babatunde-Fashola.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Minister-of-Works-Power-and-Housing-Babatunde-Fashola.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Minister-of-Works-Power-and-Housing-Babatunde-Fashola.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Minister-of-Works-Power-and-Housing-Babatunde-Fashola.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Minister-of-Works-Power-and-Housing-Babatunde-Fashola.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":7603,"url":"https:\/\/amazingproperty.com.ng\/blog\/four-states-adopt-nmrcs-draft-mortgage-foreclosure-law\/","url_meta":{"origin":4768,"position":1},"title":"Four states adopt NMRC\u2019s draft mortgage foreclosure law","author":"Amazing Property","date":"December 25, 2017","format":false,"excerpt":"Babatunde Raji Fashola, Minister of Works, Power and Housing. Hopes of realizing the mortgage-backed housing dream brightened recently, following the adoption of the Nigeria Mortgage Refinance Company (NMRC) pioneered draft model mortgage foreclosure law by four states in the country. 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