To reduce the 17 million housing deficit in Nigeria which is getting worse due to increasing population, Managing Director of Lagos-based real estate company, REFin Homes, Olatunde Macaulay has suggested that developers should provide comfortable and attractive financing options for would-be home owners that will make it possible for them to afford those houses.
He also called for improvement in infrastructure by government such as roads, rail systems that will enable people own homes in far-away areas and work in other places.
“If there were good roads and good transportation systems such as rail system, people don’t mind going to live far places where developers can even build cheaper. People can live in Ibadan and work in Lagos”, he said.
Speaking at launching of REFin Homes’ completed estate, Anchor Grounds and its ongoing project, Chelsea Court which has already been endorsed by their stakeholders and it is currently on sale; Macaulay also said attention of estate development should focus on mid and lower end of the market. “Before now, there was focus on high end of the market which is beyond the reach of many Nigerians”.
The company has already sold out apartments in Anchor Grounds, strategically located in Lafiaji Lekki of Lagos which was financed with flexible options for consumers. The Anchor Grounds estate has 16 units of three and two bedrooms respectively. The company is also offering after sales service to buyers.
Macaulay said the company builds for requests and specifications for a group of people. “We make financing for the homes flexible for buyers to pay in months”.
The Deputy Managing director, Kazeem Owolabi also expressed delight on the REFin Homes team for the achievement.
Princess Kay Olufade, one of the unit buyers said she was attracted to the home based on financing option and quality.