The biting economic situation in the country has taken a toll on the Housing sector resulting in high input demands from realtors and property developers.
Real estate valuers, Property developers, builders and end users in Port Harcourt have expressed the need for Government’s quick intervention, to save the Housing sector from imminent colapse.
The land use Act of 2004, as amended, which vested all land ownership in the country on the state, in addition to Government’s reluctance in effectively influencing reduction of the cost of building materials is seen as some of the limiting factors against private property developers in solving existing Housing deficits.
In Port Harcourt Rivers State, those in the low income bracket are worse hit in the Housing problems as landlords, inspite of the economic crunch, have increased rents above 200%
While commending the Rivers state Government’s efforts so far in its collaboration with private sector to provide 20,000 low cost Housing units in ikwerre LGA, Property Developers urge Governor SIM Fubara to do more.
The right to adequate housing is a fundamental human right as enshrined in the 1948 universal declaration of article 25 of the United Nations.
(Editor : Anoyoyo Ogiagboviogie)
