HOUSING MARKET INDICES

HOUSING MARKET INDICES

HOUSING MARKET INDICES

A recent survey showed that from the total adult population of 87.9 million, the income level has only 3.6 million Nigerian adults earning above N70, 000 per month. The income earning level for the country does not support affordability of high cost housing. In Nigeria, supply of housing is mainly targeted at the high income earners, and selling price which are termed ‘low’ are still unaffordable to the lower income bracket. House costs at the minimal can be estimated at N5,000,000, and this is in only a few locations in the country. Therefore, the high demand will remain if indices, statistics and features in the industry remain unchanged.