The resent upsurge in costs of apartments for rent in Lagos State has become a huge source of concern to residents who have called out to the government to intervene, and allow the people experience financial breath of fresh air. A cross section of residents who spoke to this medium were worried about the rising cost of accomodations and it’s associated agency fees.
While some opined that the situation is basically a function of demand and supply playing out, which two realtors corroborated in their reaction, certain sections of the society strongly believe in and advocate for a deliberate intervention by the state government to save the populace from the burden. One Mr. Ferdinand Avii who said that he was asked to vacate his present accommodation, revealed that the time he was given ends on March 31, 2026 but he is yet to secure another one as it’s become difficult for him to do so because of the cost.
There are worrying signs that the situation could get to the point where there would be vacant accomodations across the entire city despite the glaring housing deficits, due to a lack of financial power.
While Lagocians await government response, it is believe that properly regulated real estate sector will have a role to play in all of these.
This is a developing story we hope to follow up as the days, weeks go by.
