Rising construction costs, steep financing rates, and regulatory bottlenecks are severely constraining large-scale affordable housing delivery across Nigeria, the Managing Director/Chief Executive Officer of Afriland Properties Plc, Azubike Emodi, has said.
Speaking during a high-level panel session at the 20th Africa International Housing Show on “Housing Models for the Informal Sector and the Ecosystem Changes Required to Unlock Affordable Housing” recently, Emodi called for an urgent, comprehensive overhaul of the affordable housing ecosystem to make real estate delivery commercially viable.
He said, “Homes can only be considered truly affordable when they align with the purchasing power and aspirations of the people they are designed to serve. While developers are ready to do more, rising construction costs, high financing costs, infrastructure deficits, and regulatory bottlenecks continue to constrain large-scale delivery.”
The Afriland boss noted that the affordable housing conversation must evolve beyond placing expectations solely on developers, adding that sustainable housing
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