AFFORDABLE HOUSING & MEANS OF HOUSING ACQUISITION IN LAGOS STATE

AFFORDABLE HOUSING & MEANS OF HOUSING ACQUISITION IN LAGOS STATE

AFFORDABLE HOUSING & MEANS OF HOUSING ACQUISITION IN LAGOS STATE

According to then Governor of lagos state Babatunde Fashola, Lagos state’s annual population growth rate was  8%, an estimated 800,000 people every year. Based on that statistic, the high level of housing need in the state would remain. As much as there is a housing deficit the fact still remains that people can only acquire what they can afford. Therefore, it is practically important to consider the structure of the demand for housing vis-a-vis the need for housing. Housing need refers to what is desirable for each household while effective demand refers to what is affordable. This report would examine what exactly constitutes affordable housing in Lagos, the role of social housing and the various means through which home-owners are purchasing houses.

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