How do we confront the challenge of overpriced Houses in the real estate Business

[Ralphjoe]

The issue of overpriced Houses In the real estate Business is a serious cause to worry, In Abuja, the capital city of Nigeria, it has led to so many people not being able to afford these houses there moving to rural areas and leaving these houses and estates empty for a very long time.
Now is the time to nip the problem in the bud, let's reason together folks, how can we solve this problem?

 

[Kamon c4]

Only the government can regulate this cause no one can do anything if the owner of the buildings decides not to sell their houses at your prices. Only the government can control the prices provided there’s a law that supports it

 

[Setho]

When things like this get overly inflated I think the only thing that can be done is the government stepping in to kind of regulate the dealings and manually make it reduce. But you should understand in business there isn't more like an over charged asset. The reason why properties are so expensive in abuja is because corrupt politicians are the target market.

 

[Shayo]

I think the issue with very expensive real estate properties is the agent. Most agents add exorbitant charges on the price. And location matters too, that's why it's good to spend moderately according to your pocket. There are cheap priced houses in some locations and some very expensive estates too. Look for the ones you can afford, because the prices will always be like that.

 

[Kayzzy3]

The issue of overpriced Houses In the real estate Business is a serious cause to worry, In Abuja, the capital city of Nigeria, it has led to so many people not being able to afford these houses there moving to rural areas and leaving these houses and estates empty for a very long time.
Now is the time to nip the problem in the bud, let's reason together folks, how can we solve this problem

The price of any property in relative determined by some factors.

Like structures in highbrow areas of the city in bound to cost more, population density affects price of properties, even services provided within the property too, etc.

Providing affordable housing for low income earners in a good solution.

 

[Ralphjoe]

The price of any property in relative determined by some factors.

Like structures in highbrow areas of the city in bound to cost more, population density affects price of properties, even services provided within the property too, etc.

Providing affordable housing for low income earners in a good solution.

Wonderful solution you just suggested, the factors you mentioned are capable of influencing the prices of houses quite alright but some house developers abuses their pricing privileges by inflating the prices of their houses thereby leading to the issues of empty houses scattered everywhere.
Why wouldn't such house owners reduce the prices of their houses since they noticed people can't afford them? So they are contributing big time to this problem.
My immediate solution to this conundrum still remains that the government should taxed any landlord whose house remained vacant for more than a year.

 

[Ojonuyo]

Yes, houses are really expensive these days , it get me Wondering why the prices are increasing. The worse is these same houses where cheeper years back and just a matter of two to three years the prices are high. I can not recommend houses in big cities and town for any one whose Average monthly salary is below the scale. Housing alone can take away half of your salary if care is not take. That is why I advise , everyone should save enough cash and start building your own house.

 

[Alexandoy]

In the game called economy it is ruled by the law of supply and demand. If those houses are overpriced then the consumers should refrain from buying. That is what we do like now there is the unreasonable increase in the price of meat (from 280 per kilo now it is 360 just because of the holiday season). We decided to forgo with meat this New Year. I understand that a house is a home that one needs especially when the opportunity to buy is at hand. For those still in the planning stage maybe they can wait for more time before they buy.

 

[Oscar]

It is of no doubt that the price of real estate is on the high recently, To solve this issue I'll like to suggest that more affordable houses be built as a way to reduce the high cost of housing as there would be more supply to meet the demands of the consumers.

 

[Abibatabosede]

Challenging the problem of over charged house in estate business, I have an idea that could work since estate Managers have begin to come together as association there could be need to come agreement about price control among them selves.

 

[Janita]

Start building our own houses is somehow difficult because the sallery of a comman employee or worker is not so kuch that a man can start building his own house even a small kitchen he cannot start.but the government should take a stand about these serious issues because yearly the rent of houses are increasing with speedy.if government take stand on these issues so that will be the best work ,lot's of people will stay easy in their rent houses.

 

[Sotherefore]

there is no way to counter such as the price of houses or property is solely determined by a lot of factors example of such factors are location,if a property is located in an area such as town then the prices likely to go up compared to the one in the village or the one in an undeveloped area,sometimes economy of a country also played a role in price determination in property.

 

[Johnbami]

Wonderful solution you just suggested, the factors you mentioned are capable of influencing the prices of houses quite alright but some house developers abuses their pricing privileges by inflating the prices of their houses thereby leading to the issues of empty houses scattered everywhere.
Why wouldn't such house ownersreduce the prices of their houses since they noticed people can't afford them? So they are contributing big time to this problem.
My immediate solution to this conundrum still remains that the government should taxed any landlord whose house remained vacant for more than a year.

 

[Koldej]

This is a very good question, one of the problems we are facing in Nigeria is overpriced house, I really don't know if we can do anything to adjust that, but I think in most cases tenants should pay for wat they get

 

[joy101]

House are very expensive these to get, the price is increasing every blessed day since they noticed that people cant afford them are, so they contributing to big time problem,

 

[Trojan8]

I don't think the government can do much in this regard. For you to set a price ceiling on houses, you need to have a complete data on cost of building which is almost impossible. The way forward is regulating other sectors so that building cost would reduce and then other factors follow.

The issue of overpriced Houses In the real estate Business is a serious cause to worry, In Abuja, the capital city of Nigeria, it has led to so many people not being able to afford these houses there moving to rural areas and leaving these houses and estates empty for a very long time.
Now is the time to nip the problem in the bud, let's reason together folks, how can we solve this problem?

 

[Oloritoks]

The best way to overcome challenges of overpricing in real estate is to have your mind already in search of alternative or you being on a look out for the ones that are better Ahbudabi, but this is Nigeria

Post automatically merged: Jan 11, 2021

The best way to overcome challenges of overpricing in real estate is to have your mind already in search of alternative or you being on a look out for the ones that are better Ahbudabi, but this is Nigeria

 

[Nicklas22]

Although the real estate sector is a gold mine that plays an integral role in the Nigerian economy and also an investment that provides the greatest source of wealth and savings for many Nigerian families, it has its challenges and issues that are hindering its growth.

 

[Sincerem]

I'm not the government, the government should look up to this matter, reduce the cost of the house to favour some individuals that finds the house super high. But if it's an individuals hour put up for rent then it will be hard for the government to intervene cos the private individual is also looking for a way to make it's own money.

 

[Trexxxy]

I don't think there is enough we can do , seeing as real estate business takes huge capital to start or be a part of the business. The huge prices associated with the houses in Abuja is because of the location. Abuja is believed to be a Cosmopolitan city where the wealthy reside, understandably some of these things will be expensive.