Topsy Essien, a real estate expert, has urged the government to implement a land subsidy strategy for developers in order to ensure that housing remains affordable for Nigerians.
Essien, the Managing Director of Big Homes, stated that the subsidy will lower property purchase costs by approximately 50 percent.
Speaking over the weekend at the unveiling of Aurora by Big Homes, he said, “Nigeria needs long-term strategies in terms of cost reduction. Whatever a house costs, be it two million ten million hundred million or five hundred million we should be able to have a financial system that gives us 20 to 30 years to pay for this kind of home. Although mortgages are fine but they don’t just favor everyone you know some people cannot meet some of those standards.
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