Estate developers seek land reforms, subsidies to cut housing costs
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REDAN has called for reforms to Nigeria's land titling system and government-backed housing subsidies, citing Egypt's model where support cut low-income housing costs by about 60 per cent.
The Real Estate Developers Association of Nigeria has called for reforms to the country's land titling system and the introduction of government-backed housing subsidies to reduce the cost of home ownership. REDAN President Akintoye Adeoye made the appeal during the opening ceremony of the 10th anniversary edition of Mega Projects Nigeria, a construction, energy and water infrastructure exhibition in Lagos State.
Adeoye said any registered property title that had existed for more than 10 years should no longer be open to legal challenge, noting that the current system had left homeowners vulnerable to prolonged ownership disputes. He cited cases of residents who had lived in their homes for more than two decades but were still facing litigation over ownership, describing the situation as corrupt and unsustainable.
He also urged state governments to strengthen land administration and speed up the processing of property titles. On subsidies, Adeoye pointed to Egypt where government support for land and construction inputs had reduced housing costs for low-income earners by about 60 per cent, saying Nigeria could adopt a similar model to narrow its housing deficit.
The affordability crisis in Lagos State is deepening as weak household incomes, high mortgage rates, expensive land and construction financing, inadequate infrastructure and inefficient land administration continue to limit access to decent homes. These findings were contained in an 86-page research report titled Beyond Rent: Mapping Lagos' Housing-Led Capital Expansion, unveiled at a forum organised by GTI Investment Group in Lagos State.