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The hike in rental value is putting enormous pressures on higher mortgages rates, housing insurance plan, increase in rental rate, devaluation of long-term ....
Ahead of the setting up of a new administration, there will be movement of new legislators, friends of legislators, and families of political office holders ....
Following persisting unfavourable policies and liquidity crisis affecting the economy, the heat on the nation’s real estate is intensifying, especially on the residential market. ....
Towards taking advantage of the existing gap in the market, property developers are shifting focus to the development of smaller housing units, usually sought after by millennials and first-time homeowners. ....
Emmanuel Okas Wike, NIESV President As businesses begin to emerge from the COVID-19 crisis, many of those whose operations were significantly impaired are facing rent defaults, which piled up while they were temporarily closed. Similarly, residential tenants in the highbrow and high-density areas that suffered setback in their businesses or got laid-off by their employees are also having hard times in paying their rents. Artisans and self-employed individuals are also affected. These have prompted property owners to make hard choices on the type of tenants to be assigned their property by adopting diligent standards. Some of the landlords have to deal with their own mortgage obligations and defaults, which similarly accrued during the pandemic. ....