The rising cost of housing is overwhelming residents of the Southeast region of Nigeria; many have called the situation oppressive and oppressive.
Tenants in both large cities and smaller villages claim that the constant increase in rent is making them desperate and financially stressed.
Tenants are complaining about steep annual rent rises in key towns like Enugu, Awka, Onitsha, Umuahia, and Aba. Some landlords are even requesting up to two or three years’ payment in advance.
A three-bedroom apartment in Awka, the capital of Anambra State, used to cost between ₦450,000 and ₦800,000 a year, but in some places, it can now cost up to ₦1.5 million.
Residents in the states of Enugu and Abia report similar trends, with a two-bedroom apartment that used to cost ₦300,000 now selling for over ₦700,000.
“The typical salary earner can no longer afford the rent. “You can either move back to your father’s compound or get a house in a far-off village,” Onitsha teacher Chinyere Ndukwe stated.
Tenants contend that the rent hikes are capricious and frequently predatory, while landlords and real estate brokers have blamed the increase on inflation, the increased cost of construction materials, and the overall economic crisis.
“Inflation is no longer the issue. Some landlords are merely avaricious. Another tenant in Umuahia claimed, “They raise the rent every year, but they don’t improve anything or renovate the houses.”
Inflating prices and charging exorbitant commissions and legal fees—which occasionally equal or surpass the rent itself—have also led to criticism of agents.
Many families are struggling financially right now due to high unemployment, stagnating income, and rising housing costs. Those most impacted include traders, artisans, students, and civil servants.
Read Also: NiMet Proposes Amendment of Act to Enhance Cost Recovery and Service Efficiency
The Southeast region is a major contributor to Nigeria’s housing deficit, which is estimated to be over 28 million units, according to real estate experts.
Due to the high demand and limited supply of reasonably priced homes, there is a seller’s market that greatly benefits landlords.
Some state governments have responded by starting to implement rent control measures, especially in Enugu. A plan to control rent hikes and shield renters from evictions without warning is presently being considered by the state assembly.
To stop the problem, the Real Estate Developers Association of Nigeria (REDAN) has also demanded immediate reforms. The group is pushing for more funding for affordable homes, tax breaks for developers, and subsidized building supplies.
The misery of soaring rents, according to many Southeast residents, won’t go away anytime soon unless state governments take significant and thoughtful action through their separate Houses of Assembly. They are currently left with few choices and increasing strain, hoping that quick and long-lasting answers can lighten their load.
