{"id":6926,"date":"2017-11-06T03:42:23","date_gmt":"2017-11-06T03:42:23","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/sectors-experts-reiterate-call-for-long-term-real-estate-financing\/"},"modified":"2017-11-06T03:42:23","modified_gmt":"2017-11-06T03:42:23","slug":"sectors-experts-reiterate-call-for-long-term-real-estate-financing","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/sectors-experts-reiterate-call-for-long-term-real-estate-financing\/","title":{"rendered":"Sector\u2019s experts reiterate call for long-term real estate financing"},"content":{"rendered":"

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Housing<\/a> experts have urged the federal government to boost the development of the real estate<\/a> sector through improved long- term financing<\/a>.<\/p>\n

They also noted that a paradigm shift in the current housing deficiency could only be witnessed if effective housing development and mortgage<\/a> financing was put in place.<\/p>\n

Speaking at the maiden Bstan Home economic summit on real estate in Abuja, the Chief Executive Officer of Bstan Homes, Becky Damilola-Oke, an engineer, noted that finance is central to the effective housing delivery in the country.<\/p>\n

She however lamented that the story of estate development, especially housing provision in the country has been so disappointing,\u00a0noting that government strategy of allocating huge budget to the housing sector has been very ineffective given the massive housing deficiency in the country.<\/p>\n

Damilola-Oke said the Nigerian economy was yet to reap from the potentials inherent in its real estate sector saying over 95per cent of houses<\/a> in existence were constructed with private funds<\/a>.<\/p>\n

She commended the government and co-operate organizations for putting in place policies to assist their staffs own homes adding that it is more beneficial for employees to build their own staff estates rather than pay them housing allowance.<\/p>\n

Another expert, Mr. John Ibebujo\u00a0called on the National Assembly to facilitate the quick amendment of the Land Use Act to ease access to affordable houses by Nigerians.<\/p>\n

Speaking on the theme of the summit \u2018investment opportunities in the real estate industry in Nigeria\u2019 lamented that the increasing number of houses by estate developers at the city centers has not ease access to houses by many Nigerians.<\/p>\n

According to them access to house is\u00a0a fundamental human right, stressing that the amendment of the land use act would help alter the procedures of getting licences which takes 450 days to process.<\/p>\n

Ibebujo stressed the need to strengthen mortgage financing in the country such that there would be a credit database of every Nigerians that talks about the creditability of each person to access loans<\/a> to own houses.<\/p>\n

He also called on stakeholders the sector to develop value chain approach to reduce the cost of building houses, so that estate developers would be able to provide affordable houses for people.<\/p>\n

Guardian <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Housing experts have urged the federal government to boost the development of the real estate sector … Sector\u2019s experts reiterate call for long-term real estate financing<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":3753,"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_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"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":[1398,1399,12908,543,127,617,489,344,414,604,408,522,41,818,84,1429,857],"class_list":["post-6926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-developers","tag-development","tag-home","tag-home-buying-guide","tag-homes","tag-house","tag-houses","tag-housing","tag-land-use","tag-loans","tag-mortgage","tag-nigeria","tag-property","tag-real","tag-real-estate","tag-real-estate-industry","tag-real-estate-sector"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/Real-Estate1.jpg?fit=1280%2C720&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2173,"url":"https:\/\/amazingproperty.com.ng\/blog\/experts-seek-fiscal-measures-to-fix-housing-problems\/","url_meta":{"origin":6926,"position":0},"title":"Experts seek fiscal measures to fix housing problems","author":"Amazing Property","date":"January 10, 2023","format":false,"excerpt":"Housing Problem: There is great potential in the nation\u2019s real estate sector. 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Recently, the figure was raised and, according to experts, it could be up to 20 million units, if a proper investigation of the state of affairs in the sector\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/s3-eu-west-1.amazonaws.com\/leadersandco\/wp-content\/uploads\/2017\/02\/14001431\/Sterling-Bank-Logo.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/s3-eu-west-1.amazonaws.com\/leadersandco\/wp-content\/uploads\/2017\/02\/14001431\/Sterling-Bank-Logo.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/s3-eu-west-1.amazonaws.com\/leadersandco\/wp-content\/uploads\/2017\/02\/14001431\/Sterling-Bank-Logo.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":26092,"url":"https:\/\/amazingproperty.com.ng\/blog\/nigerian-govt-set-to-build-one-million-homes\/","url_meta":{"origin":6926,"position":2},"title":"Nigerian Govt set to build one million homes","author":"Amazing Property","date":"January 2, 2022","format":false,"excerpt":"One million homes, 50,000 plots of land in each state of the federation including the FCT for housing development. 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